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Earnings (loss) Per Share (Tables)
9 Months Ended
Sep. 28, 2024
Earnings Per Share [Abstract]  
Schedule of Earnings (loss) Per Share
Earnings (loss) per share (in millions, except share data):
Three Months EndedNine Months Ended
September 28,
2024
September 30,
2023
September 28,
2024
September 30,
2023
Basic:
Net income (loss)$137 $(15)$365 $279 
Weighted-average shares outstanding (1)
51,567,216 51,336,645 51,480,812 51,380,876 
Basic earnings (loss) per share$2.65 $(0.28)$7.09 $5.44 
Diluted:
Net income (loss)$137 $(15)$365 $279 
Weighted-average shares outstanding (1)
51,567,216 51,336,645 51,480,812 51,380,876 
Dilutive shares (2)
350,839 — 364,760 336,855 
Diluted weighted-average shares outstanding51,918,055 51,336,645 51,845,572 51,717,731 
Diluted earnings (loss) per share$2.64 $(0.28)$7.04 $5.40 

(1) In periods of a net loss, restricted stock and performance share awards, which are participating securities, are excluded from weighted-average shares outstanding.
(2) In periods of a net loss, all unvested share-based awards are anti-dilutive and therefore excluded from diluted shares.