Earnings Per Share

6 Months Ended

Jun. 29, 2024

Earnings Per Share [Abstract]

Earnings Per Share

Earnings (Loss) Per Share

The following table sets forth the components of basic and diluted earnings (loss) per share:

	Three Months Ended				Six Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
	(In millions, except per share amounts)
Numerator
Net income (loss) for basic earnings per share	$	265	$	27	$	388	$	(112)
Denominator
Basic weighted average shares	1,618		1,612		1,617		1,612
Potentially dilutive shares from employee equity plans	19		15		21		—
Diluted weighted average shares	1,637		1,627		1,638		1,612
Earnings (loss) per share:
Basic	$	0.16	$	0.02	$	0.24	$	(0.07)
Diluted	$	0.16	$	0.02	$	0.24	$	(0.07)

Securities which would have been anti-dilutive are not material and are excluded from the computation of diluted earnings per share for all periods presented.