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Earnings Per Share (Tables)
12 Months Ended
Dec. 28, 2024
Earnings Per Share [Abstract]  
Schedule of Computation of Basic and Diluted Earnings Per Share
The following table sets forth the computation of basic and diluted EPS:
202420232022
Numerator:
Net income
$494 $506 $265 
Less: Series A Preferred Stock dividends (1)
— (7)(37)
Net income available to common shareholders
$494 $499 $228 
Denominator:
Weighted-average common shares outstanding
241 239 224 
Effect of dilutive share-based awards
Effect of dilutive underlying shares of the Series A Preferred Stock (2)
— — 
Weighted-average dilutive shares outstanding
244 250 226 
Net income per share:
Basic
$2.05 $2.09 $1.02 
Diluted
$2.02 $2.02 $1.01 
(1)    As discussed in Note 13 Convertible Preferred Stock, Series A Preferred Stock dividends for 2022 and 2023 were paid in cash.
(2)    Under the if-converted method, outstanding shares of the Series A Preferred Stock are converted to common shares for inclusion in the calculation of weighted-average common shares outstanding-diluted. Once converted, there would be no preferred stock outstanding and therefore, no Series A Preferred Stock dividend As of December 30, 2023, the 9 million shares represent the weighted average impact on these shares during the fiscal year 2023. See Note 13 Convertible Preferred Stock, for details on Series A Preferred Stock.