Basic and Diluted Net Income (Loss) Per Share

12 Months Ended

Sep. 27, 2025

Basic and Diluted Net Income (Loss) Per Share [Abstract]

Basic and Diluted Net Income (Loss) Per Share

12.   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:

(in millions)		2025			2024			2023
Numerator
Consolidated net income (loss)	$	(159	)	$	(154	)	$	38
Denominator
Weighted average common shares outstanding - basic and dilutive		35.5			31.8			31.8
Net income (loss) per share:
Basic and diluted	$	(4.47	)	$	(4.84	)	$	1.19

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.