Net Income (Loss) Per Share

3 Months Ended

Jun. 28, 2024

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

Net Income (Loss) Per Share

Basic income per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted net income per share also includes the incremental effect of dilutive potentially issuable common shares outstanding. Dilutive potentially issuable common shares include the dilutive effect of employee equity awards.

The components of basic and diluted net income (loss) per share are as follows:

	Three Months Ended
(In millions, except per share amounts)	June 28, 2024		June 30, 2023
Net income (loss)	$	181	$	187
Net income (loss) per share - basic	$	0.29	$	0.29
Net income (loss) per share - diluted	$	0.29	$	0.29
Weighted-average shares outstanding - basic	621		640
Dilutive potentially issuable shares:
Employee equity awards	6		3
Weighted-average shares outstanding - diluted	627		643
Anti-dilutive shares excluded from diluted net income per share calculation:
Employee equity awards	3		6