Annual report pursuant to Section 13 and 15(d)

Earnings Per Share

v3.25.0.1
Earnings Per Share
 12 Months Ended
Dec. 28, 2024
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Basic earnings per share is computed based on the weighted-average number of shares outstanding.
Diluted earnings per share is computed based on the weighted-average number of shares outstanding plus potentially dilutive shares outstanding during the period. Potentially dilutive shares are determined by applying the treasury stock method to the Company’s stock options, RSUs (including PRSUs), common stock to be issued under the ESPP and warrants.
The following table sets forth the components of basic and diluted earnings per share:
Year Ended
December 28, 2024 December 30, 2023 December 31, 2022
  (In millions, except per share amounts)
Numerator
Net income for basic earnings per share $ 1,641  $ 854  $ 1,320 
Denominator
Basic weighted-average shares 1,620  1,614  1,561 
Effect of potentially dilutive shares from employee equity plans
 17  11  10 
Diluted weighted-average shares 1,637  1,625  1,571 
Earnings per share:
Basic $ 1.01  $ 0.53  $ 0.85 
Diluted $ 1.00  $ 0.53  $ 0.84 
Potential shares from employee equity plans totaling 1 million, 6 million and 16 million weighted-average shares for 2024, 2023 and 2022, respectively, were not included in the earnings per share calculation because their inclusion would have been anti-dilutive.