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Earnings Per Share
 9 Months Ended
Jun. 29, 2024
Earnings Per Share [Abstract]  
Earnings Per Share EARNINGS (LOSS) PER SHARE
The following table sets forth the computation of basic and diluted earnings (loss) per share (in millions, except per share data): 
Three Months EndedNine Months Ended
June 29, 2024July 1, 2023June 29, 2024July 1, 2023
Numerator:
Net income (loss)$196 $(435)$458 $(206)
Less: Net income (loss) attributable to noncontrolling interests5 (18)15 (8)
Net income (loss) attributable to Tyson191 (417)443 (198)
Less dividends declared:
Class A 140 137 423 416 
Class B 31 30 93 92 
Undistributed earnings (losses)$20 $(584)$(73)$(706)
Class A undistributed earnings (losses)$16 $(478)$(60)$(578)
Class B undistributed earnings (losses)4 (106)(13)(128)
Total undistributed earnings (losses)$20 $(584)$(73)$(706)
Denominator:
Denominator for basic earnings per share:
Class A weighted average shares284 284 284 285 
Class B weighted average shares70 70 70 70 
Denominator for diluted earnings per share:
Class A weighted average shares284 284 284 285
Class B weighted average shares under the if-converted method for diluted earnings per share(a)
70 — 70 — 
Effect of dilutive securities: Stock options, restricted stock and performance units2 — 1 — 
Denominator for diluted earnings (loss) per share – weighted average shares and assumed conversions(a)
356 284 355 285 
Net income (loss) per share attributable to Tyson:
Class A basic$0.55 $(1.18)$1.28 $(0.56)
Class B basic$0.49 $(1.08)$1.14 $(0.51)
Diluted(a)
$0.54 $(1.18)$1.25 $(0.56)
Dividends Declared Per Share:
Class A$0.490 $0.480 $1.480 $1.460 
Class B$0.441 $0.432 $1.332 $1.314 
(a) For the three and nine months ended July 1, 2023, as the Company was in a net loss position, the impact of the Class B shares under the if-converted method is 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. Accordingly, the Company adjusted the presentation for the three and nine months ended July 1, 2023 to remove the 70 million Class B weighted average shares, which did not change diluted net loss per share attributable to Tyson.
Approximately 5 million and 7 million of our stock-based compensation shares were antidilutive for the three and nine months ended June 29, 2024, respectively. Approximately 9 million of our stock-based compensation shares were antidilutive for the three and nine months ended July 1, 2023. 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 1.0 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.