Earnings Per Share

12 Months Ended

Sep. 28, 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 2024, 2023 and 2022 (net income in millions and shares in thousands):

	2024		2023		2022
Numerator:
Net income	$	93,736	$	96,995	$	99,803
Denominator:
Weighted-average basic shares outstanding	15,343,783		15,744,231		16,215,963
Effect of dilutive share-based awards	64,312		68,316		109,856
Weighted-average diluted shares	15,408,095		15,812,547		16,325,819
Basic earnings per share	$	6.11	$	6.16	$	6.15
Diluted earnings per share	$	6.08	$	6.13	$	6.11

Approximately 24 million restricted stock units (“RSUs”) were excluded from the computation of diluted earnings per share for 2023 because their effect would have been antidilutive.