Net Loss Per Share (Tables)

6 Months Ended

12 Months Ended

Jun. 26, 2021

Dec. 26, 2020

The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted earnings per share of Class A common stock for the three and six months ended June 26, 2021, the periods wherein the Corporation had outstanding Class A common stock.


	Three Months Ended						Six Months Ended
(in millions except per share data)	June 26, 2021						June 26, 2021
	Continuing Operations		Discontinued Operations		Total		Continuing Operations		Discontinued Operations		Total
Numerator:
Net income attributable to McAfee Corp., basic	$	23	$	13	$	36	$	50	$	16	$	66
Net income attributable to change in ownership percentage due to dilutive equity awards		2		—		2		4		—		4
Less: Provision for income tax expense (1)		—		—		—		—		—		—

Net income attributable to McAfee Corp., diluted	$	25	$	13	$	38	$	54	$	16	$	70

Denominator:
Weighted average shares of Class A common stock outstanding, basic		165.0		165.0		165.0		163.7		163.7		163.7
Dilutive impact of equity awards (2)		17.8		17.8		17.8		15.8		15.8		15.8

Weighted average shares of Class A common stock outstanding, diluted		182.8		182.8		182.8		179.5		179.5		179.5

Earnings per share attributable to McAfee Corp., basic
Earnings per share, basic (3)	$	0.14	$	0.08	$	0.22	$	0.31	$	0.10	$	0.40
Earnings per share attributable to McAfee Corp., diluted
Earnings per share, diluted (4)	$	0.14	$	0.07	$	0.21	$	0.30	$	0.09	$	0.39


(in millions except per share data)	Year Ended
	December 26, 2020
	Continuing Operations			Discontinued Operations			Total
Numerator:
Net loss	$	(218	)	$	(71	)	$	(289	)
Less: Net (income) loss attributable to FTW prior to the Reorganization Transactions		74			(100	)		(26	)
Less: Net loss attributable to redeemable noncontrolling interests after the Reorganization Transactions		89			108			197

Net loss attributable to McAfee Corp., basic and diluted	$	(55	)	$	(63	)	$	(118	)

Denominator:
Weighted average shares of Class A common stock outstanding, basic and diluted		162.3			162.3			162.3

Earnings (loss) per share attributable to McAfee Corp., basic
Earnings (loss) per share, basic	$	(0.34	)	$	(0.39	)	$	(0.73	)
Earnings (loss) per share attributable to McAfee Corp., diluted
Earnings (loss) per share, diluted (1)	$	(0.34	)	$	(0.39	)	$	(0.73	)

(1)

Excluded from dilution includes a one for one conversion of our RNCI’s 267.1 million LLC units and an exchange of

5.4

million MIUs for their common equivalent of Class A common stock, based on the value of such MIUs relative to their applicable distribution threshold. 25.2 million weighted average units were also excluded from dilution. The excluded shares consist of RSUs, PSUs and stock options that were excluded

from dilution because their effects would have been anti-dilutive for the year ended December 26, 2020 and unvested 9.3 million MIUs outstanding with a weighted average unsatisfied distribution threshold of $5.91.