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Earnings Per Share
 9 Months Ended
Jul. 02, 2022
Earnings Per Share [Abstract]  
Earnings Per Share EARNINGS PER SHARE
The following table sets forth the computation of basic and diluted earnings per share (in millions, except per share data): 
Three Months EndedNine Months Ended
July 2, 2022July 3, 2021July 2, 2022July 3, 2021
Numerator:
Net income$753 $753 $2,712 $1,702 
Less: Net income attributable to noncontrolling interests3 4 12 10 
Net income attributable to Tyson750 749 2,700 1,692 
Less dividends declared:
Class A 132 132 406 401 
Class B 29 28 88 86 
Undistributed earnings$589 $589 $2,206 $1,205 
Class A undistributed earnings$484 $485 $1,813 $992 
Class B undistributed earnings105 104 393 213 
Total undistributed earnings$589 $589 $2,206 $1,205 
Denominator:
Denominator for basic earnings per share:
Class A weighted average shares289 293 291 293 
Class B weighted average shares, and shares under the if-converted method for diluted earnings per share70 70 70 70 
Effect of dilutive securities:
Stock options, restricted stock and performance units3 3 3 2 
Denominator for diluted earnings per share – adjusted weighted average shares and assumed conversions362 366 364 365 
Net income per share attributable to Tyson:
Class A basic$2.14 $2.11 $7.64 $4.76 
Class B basic$1.92 $1.89 $6.87 $4.27 
Diluted$2.07 $2.05 $7.42 $4.63 
Dividends Declared Per Share:
Class A$0.460 $0.445 $1.395 $1.360 
Class B$0.414 $0.400 $1.256 $1.224 
Approximately 2 million of our stock-based compensation shares were antidilutive for the three and nine months ended July 2, 2022. Approximately 2 million and 4 million of our stock-based compensation shares were antidilutive for the three and nine months ended July 3, 2021, respectively. These shares were not included in the diluted 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 1.0 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.