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CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Jun. 29, 2024
Jul. 01, 2023
Income Statement [Abstract]        
Net sales $ 672 $ 700 $ 1,379 $ 1,420
Cost of goods sold 476 509 980 1,048
Selling, general and administrative expense 149 163 306 318
Operating profit 47 28 93 54
Interest expense 8 0 16 0
Other income (expense), net 4 7 10 15
Income before income taxes 43 35 87 69
Income taxes 12 8 23 16
Net income $ 31 $ 27 $ 64 $ 53
Per share amounts:        
Basic earnings (in dollars per share) [1] $ 0.37 $ 0.32 $ 0.75 $ 0.62
Diluted earnings (in dollars per share) [1] $ 0.36 $ 0.32 $ 0.73 $ 0.62
Average shares outstanding:        
Basic (in shares) 86 86 86 86
Diluted (in shares) 88 86 87 86
Actual shares outstanding at period end (in shares) 86 86 86 86
[1] On October 2, 2023, Kellanova, the former parent company of WK Kellogg Co, distributed 85,631,304 shares of WK Kellogg Co common stock to Kellanova's shareowners in connection with its Spin-Off of WK Kellogg Co (the "Spin-Off"). See Note 1 "Accounting Policies" to the Unaudited Consolidated Financial Statements for more information. Basic and diluted earnings per share were retrospectively recast for the number of shares of WK Kellogg Co common stock outstanding immediately following the Spin-Off for the quarter and year-to-date period ended July 1, 2023.