Earnings Per Share

9 Months Ended

Jun. 29, 2024

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

The following table shows the computation of basic and diluted earnings per share for the three- and nine-month periods ended June 29, 2024 and July 1, 2023 (net income in millions and shares in thousands):

	Three Months Ended				Nine Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
Numerator:
Net income	$	21,448	$	19,881	$	79,000	$	74,039
Denominator:
Weighted-average basic shares outstanding	15,287,521		15,697,614		15,401,047		15,792,497
Effect of dilutive share-based awards	60,654		77,407		62,128		66,766
Weighted-average diluted shares	15,348,175		15,775,021		15,463,175		15,859,263
Basic earnings per share	$	1.40	$	1.27	$	5.13	$	4.69
Diluted earnings per share	$	1.40	$	1.26	$	5.11	$	4.67

Approximately 32 million restricted stock units (“RSUs”) were excluded from the computation of diluted earnings per share for the nine months ended July 1, 2023 because their effect would have been antidilutive.