Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.20.2
Earnings Per Share
 9 Months Ended
Sep. 26, 2020
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
The following table sets forth the components of basic and diluted earnings per share:
Three Months Ended Nine Months Ended
September 26,
2020		 September 28,
2019		 September 26,
2020		 September 28,
2019
(In millions, except per share amounts)
Numerator
Net income for basic earnings per share $ 390  $ 120  $ 709  $ 171 
Effect of potentially dilutive shares:
        Interest expense related to the 2.125% Notes 1  —  4  — 
Net income for diluted earnings per share $ 391  $ 120  $ 713  $ 171 
Denominator
Basic weighted average shares 1,184  1,097  1,176  1,075 
Effect of potentially dilutive shares:
        Employee equity plans and warrants 20  20  21  32 
        2.125% Notes 11  —  11  — 
Diluted weighted average shares 1,215  1,117  1,208  1,107 
Earnings per share:
Basic $ 0.33  $ 0.11  $ 0.60  $ 0.16 
Diluted $ 0.32  $ 0.11  $ 0.59  $ 0.15 
Potential shares from employee equity plans, and the impact from the conversion of the 2.125% Notes up to the conversion date, totaling 17 million and 20 million shares for the three and nine months ended September 26, 2020, respectively, were not included in the earnings per share calculation because their inclusion would have been anti-dilutive.
Potential shares from employee equity plans, the impact from the conversion of the 2.125% Notes up to the conversion date and the assumed conversion of the remaining outstanding 2.125% Notes, totaling 101 million and 102 million shares for the three and nine months ended September 28, 2019, respectively, were not included in the earnings per share calculation because their inclusion would have been anti-dilutive.