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Earnings Per Share | 12 Months Ended
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Oct. 03, 2020
Earnings Per Share [Abstract] |
Earnings Per Share | EARNINGS PER SHARE The earnings and weighted average common shares used in the computation of basic and diluted earnings per share are as follows:
| in millions, except per share data |
| 2020 |  |  | 2019 |  |  | 2018 |
Numerator: |  |  |  |  |
Net income | $ | 2,150 |  |  | $ | 2,035 |  |  | $ | 3,027 |
Less: Net income attributable to noncontrolling interests | 10 |  |  | 13 |  |  | 3 |
Net income attributable to Tyson | 2,140 |  |  | 2,022 |  |  | 3,024 |
Less dividends declared: |  |  |  |  |
Class A | 508 |  |  | 465 |  |  | 378 |
Class B | 108 |  |  | 99 |  |  | 80 |
Undistributed earnings | $ | 1,524 |  |  | $ | 1,458 |  |  | $ | 2,566 |
Class A undistributed earnings | $ | 1,254 |  |  | $ | 1,200 |  |  | $ | 2,115 |
Class B undistributed earnings | 270 |  |  | 258 |  |  | 451 |
Total undistributed earnings | $ | 1,524 |  |  | $ | 1,458 |  |  | $ | 2,566 |
Denominator: |  |  |  |  |
Denominator for basic earnings per share: |  |  |  |  |
Class A weighted average shares | 293 |  |  | 293 |  |  | 295 |
Class B weighted average shares, and shares under if-converted method for diluted earnings per share | 70 |  |  | 70 |  |  | 70 |
Effect of dilutive securities: |  |  |  |  |
Stock options and restricted stock | 2 |  |  | 3 |  |  | 4 |
Denominator for diluted earnings per share – adjusted weighted average shares and assumed conversions | 365 |  |  | 366 |  |  | 369 |
Net Income Per Share Attributable to Tyson: |  |  |  |  |
Class A Basic | $ | 6.02 |  |  | $ | 5.67 |  |  | $ | 8.44 |
Class B Basic | $ | 5.41 |  |  | $ | 5.10 |  |  | $ | 7.59 |
Diluted | $ | 5.86 |  |  | $ | 5.52 |  |  | $ | 8.19 |
Dividends Declared Per Share: |  |  |  |  |
Class A | $ | 1.725 |  |  | $ | 1.575 |  |  | $ | 1.275 |
Class B | $ | 1.553 |  |  | $ | 1.418 |  |  | $ | 1.148 |
Approximately 2 million of our stock-based compensation shares were antidilutive for fiscal 2020 and approximately 1 million for fiscal 2019 and 2018. These shares were not included in the dilutive earnings per share calculation. We have two classes of capital stock, Class A stock and Class B stock. Cash dividends cannot be paid to holders of Class B stock unless they are simultaneously paid to holders of Class A stock. The per share amount of cash dividends paid to holders of Class B stock cannot exceed 90% of the cash dividends paid to holders of Class A stock. We allocate undistributed earnings based upon a 1 to 0.9 ratio per share to Class A stock and Class B stock, respectively. We allocate undistributed earnings based on this ratio due to historical dividend patterns, voting control of Class B shareholders and contractual limitations of dividends to Class B stock.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257 + Details
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