XML 45 R25.htm IDEA: XBRL DOCUMENT v3.25.0.1
Earnings Per Share ("EPS")
 12 Months Ended
Jan. 03, 2025
Earnings Per Share [Abstract]  
Earnings Per Share ("EPS")
Note 16—Earnings Per Share (“EPS”)
Basic EPS is computed by dividing net income attributable to Leidos common stockholders by the basic weighted average number of shares outstanding. Diluted EPS is calculated to give effect to all potentially dilutive common shares that were outstanding during the reporting period. The dilutive effect of outstanding equity-based compensation awards is reflected in diluted EPS by application of the treasury stock method, only in periods in which such effect would have been dilutive for the period.
We issue unvested stock awards that have forfeitable rights to dividends or dividend equivalents. These stock awards are dilutive common share equivalents subject to the treasury stock method.
The weighted average number of shares used to compute basic and diluted EPS attributable to Leidos stockholders were:
 Year Ended
(in millions)
January 3,
2025		December 29,
2023		December 30,
2022
Basic weighted average number of shares outstanding134137137
Dilutive common share equivalents—stock options and other stock awards211
Diluted weighted average number of shares outstanding136138138
Anti-dilutive stock-based awards are excluded from the weighted average number of shares outstanding used to compute diluted EPS. The total number of outstanding stock options and vesting stock awards that were anti-dilutive was less than 0.5 million for fiscal 2024 and 1 million for both fiscal 2023 and 2022.
SHARE REPURCHASES
During fiscal 2024 and 2023, we made open market repurchases of our common stock for an aggregate purchase price of $850 million and $225 million, respectively. There were no open market share repurchases in fiscal 2022.
In fiscal 2022, we entered into an Accelerated Share Repurchase agreement with a financial institution to repurchase shares of our outstanding common stock. We paid $500 million to the financial institution and received 4.8 million shares.
The repurchases were recorded to “Additional paid-in capital” in the consolidated balance sheets. All shares delivered were immediately retired.