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Earnings Per Share
 12 Months Ended
Sep. 28, 2024
Earnings Per Share [Abstract]  
Earnings Per Share EARNINGS (LOSS) PER SHARE
The earnings and weighted average common shares used in the computation of basic and diluted earnings per share are as follows for fiscal years ended 2024, 2023 and 2022 (in millions, except per share data):
202420232022
Numerator:
Net income (loss)$822 $(649)$3,249 
Less: Net income (loss) attributable to noncontrolling interests22 (1)11 
Net income (loss) attributable to Tyson800 (648)3,238 
Less dividends declared:
Class A563 554 539 
Class B124 122 117 
Undistributed earnings (losses)$113 $(1,324)$2,582 
Class A undistributed earnings (losses)$92 $(1,084)$2,122 
Class B undistributed earnings (losses)21 (240)460 
Total undistributed earnings (losses)$113 $(1,324)$2,582 
Denominator:
Denominator for basic earnings (loss) per share:
Class A weighted average shares284 284 290 
Class B weighted average shares70 70 70 
Denominator for diluted earnings (loss) per share:
Class A weighted average shares284 284 290 
Class B weighted average shares under if-converted method for diluted earnings (loss) per share(a)
70 — 70 
Effect of dilutive securities: Stock options, restricted stock and performance units2 — 3 
Denominator for diluted earnings (loss) per share – weighted average shares and assumed conversions(a)
356 284 363 
Net income (loss) per share attributable to Tyson:
Class A Basic$2.31 $(1.87)$9.18 
Class B Basic$2.06 $(1.68)$8.25 
Diluted(a)
$2.25 $(1.87)$8.92 
Dividends Declared Per Share:
Class A$1.970 $1.940 $1.855 
Class B$1.773 $1.746 $1.670 
(a) For fiscal 2023, as the Company was in a net loss position, the impact of the Class B shares under the if-converted method was antidilutive and therefore we have not assumed conversion. As a result, the Class B weighted average shares, dividends declared and undistributed losses were excluded for the purposes of calculating Net Income (Loss) Per Share Attributable to Tyson on a diluted basis.
Approximately 7 million, 9 million, and 2 million of our stock-based compensation shares were antidilutive for fiscal 2024, 2023 and 2022. 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 (losses) based upon a 1 to 0.9 ratio per share to Class A stock and Class B stock, respectively. We allocate undistributed earnings (losses) based on this ratio due to historical dividend patterns, voting control of Class B shareholders and contractual limitations of dividends to Class B stock.