Basic and Diluted Net Income (Loss) Per Share

6 Months Ended

Mar. 29, 2025

Basic and Diluted Net Income (Loss) Per Share

Basic net income or earnings per share ("EPS") is calculated by dividing the net income attributable to common stockholders by the weighted-average number of common shares outstanding during the period, without consideration for common stock equivalents.

The following tables provide a reconciliation of the numerator and denominator of the basic and diluted EPS calculations:


	Quarterly Period Ended				Two Quarterly Periods Ended
(in millions, except share amounts)	March 29, 2025		March 30, 2024		March 29, 2025		March 30, 2024
Numerator
Consolidated net income (loss)	$	(41)	$	14	$	(101)	$	6
Denominator
Weighted average common shares outstanding - basic and dilutive	35.6		31.8		35.5		31.8

While there were no shares outstanding in prior periods, an allocation of 90% of the shares as of the completion of the Transaction have been provided for comparability purposes. Shares excluded from the current period calculation, as the effect of their conversion into shares of our common stock would be antidilutive were 1.1 million.