v3.25.4
Earnings Per Share
 3 Months Ended
Dec. 27, 2025
Earnings Per Share [Abstract]  
Earnings Per Share EARNINGS PER SHARE
The following table sets forth the earnings and weighted average common shares used in the computation of basic and diluted earnings per share (in millions, except per share data): 
Three Months Ended
December 27, 2025December 28, 2024
Numerator:
Net income$90 $366 
Less: Net income attributable to noncontrolling interests5 7 
Net income attributable to Tyson85 359 
Less dividends declared:
Class A 147 146 
Class B 32 32 
Undistributed earnings (losses)$(94)$181 
Class A undistributed earnings (losses)$(77)$148 
Class B undistributed earnings (losses)(17)33 
Total undistributed earnings (losses)$(94)$181 
Denominator:
Denominator for basic earnings per share:
Class A weighted average shares282 285 
Class B weighted average shares70 70 
Denominator for diluted earnings per share:
Class A weighted average shares282 285 
Class B weighted average shares under the if-converted method for diluted earnings per share70 70 
Effect of dilutive securities: Stock options, restricted stock and performance units2 2 
Denominator for diluted earnings per share – weighted average shares and assumed conversions354 357 
Net income per share attributable to Tyson:
Class A basic$0.25 $1.03 
Class B basic$0.22 $0.93 
Diluted$0.24 $1.01 
Dividends Declared Per Share:
Class A$0.520 $0.510 
Class B$0.468 $0.459 
Approximately 6 million and 5 million of our stock-based compensation shares were antidilutive for the three months ended December 27, 2025 and December 28, 2024, 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 (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.