Basic and Diluted Net Income (Loss) Per Share

9 Months Ended

Jun. 28, 2025

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

Basic and Diluted Net Income (Loss) Per Share

11.       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					Three Quarterly Periods Ended
(in millions)		June 28, 2025			June 29, 2024		June 28, 2025			June 29, 2024
Numerator
Consolidated net income (loss)	$	(18	)	$	19	$	(119	)	$	25
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.