| Earnings Per Share The following table sets forth the components of basic and diluted earnings per share:
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Three Months Ended |
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Six Months Ended |
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June 27,
2020 |
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June 29,
2019 |
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June 27,
2020 |
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June 29,
2019 |
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(In millions, except per share amounts) |
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| Numerator |
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| Net income for basic earnings per share |
$ |
157 |
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$ |
35 |
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$ |
319 |
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$ |
51 |
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| Effect of potentially dilutive shares: |
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| Interest expense related to the 2.125% Notes |
3 |
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— |
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7 |
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— |
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| Net income for diluted earnings per share |
$ |
160 |
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$ |
35 |
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$ |
326 |
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$ |
51 |
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| Denominator |
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| Basic weighted average shares |
1,174 |
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1,084 |
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1,172 |
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1,064 |
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| Effect of potentially dilutive shares: |
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| Employee equity plans and warrants |
22 |
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25 |
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22 |
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38 |
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| 2.125% Notes |
31 |
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— |
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31 |
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— |
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| Diluted weighted average shares |
1,227 |
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1,109 |
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1,225 |
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1,102 |
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| Earnings per share: |
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| Basic |
$ |
0.13 |
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$ |
0.03 |
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$ |
0.27 |
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$ |
0.05 |
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| Diluted |
$ |
0.13 |
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$ |
0.03 |
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$ |
0.27 |
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$ |
0.05 |
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Potential shares from employee equity plans and the conversion of the 2.125% Notes totaling 102 million and 103 million shares for the three and six months ended June 29, 2019, respectively, were not included in the earnings per share calculation because their inclusion would have been anti-dilutive.
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