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Earnings Per Share | 6 Months Ended
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Jul. 04, 2025
Earnings Per Share [Abstract] |
Earnings Per Share | Note 8–Earnings Per Share The following table provides a reconciliation of the weighted average number of shares outstanding used to compute basic and diluted EPS for the periods presented:
|  | Three Months Ended |  | Six Months Ended
(in millions) |  | July 4, 2025 |  | June 28, 2024 |  | July 4, 2025 |  | June 28, 2024
Basic weighted average number of shares outstanding |  | 129 |  | 135 |  |  | 129 |  | 135 |
Dilutive common share equivalents—stock options and other stock awards |  | 1 |  | 1 |  |  | 1 |  | 2 |
Diluted weighted average number of shares outstanding |  | 130 |  | 136 |  |  | 130 |  | 137 |
Anti-dilutive stock-based awards are excluded from the weighted average number of shares outstanding used to compute diluted EPS. The total outstanding stock options and vesting stock awards that were anti-dilutive were less than 0.5 million for both the three and six months ended July 4, 2025, and not material for both the three and six months ended June 28, 2024. On February 20, 2025, we entered into an ASR agreement with a financial institution to repurchase shares of our outstanding common stock. During the three months ended April 4, 2025, we paid $500 million to the financial institution and received an initial delivery of 3 million shares at an average price of $131.50 per share. In May 2025, we received the final delivery of 0.6 million shares related to the ASR agreement. The total number of shares that we received under the ASR agreement was based on the volume-weighted-average-price of $138.44 per share, net of a discount, for the period February 20, 2025, to May 20, 2025. The purchase was recorded to "Additional paid-in capital" in the condensed consolidated balance sheets. All shares delivered were immediately retired. During the three and six months ended June 28, 2024, we made open market repurchases of our common stock for an aggregate purchase price of $100 million and $250 million, respectively. All shares repurchased were immediately retired. There were no open market share repurchases during the three and six months ended July 4, 2025.

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