v3.24.0.1
Basic and Diluted Earnings Per Share
 3 Months Ended
Dec. 30, 2023
Basic and Diluted Earnings Per Share [Abstract]  
Basic and Diluted Earnings Per Share
10.  Basic and Diluted Earnings Per Share

Basic net income or earnings per share ("EPS") is calculated by dividing the net income attributable to common stockholders by the weighted-average number of common shares outstanding during the period, without consideration for common stock equivalents.  Diluted EPS includes the effects of options and restricted stock units, if dilutive.

The following tables provide a reconciliation of the numerator and denominator of the basic and diluted EPS calculations:

   
Quarterly Period Ended
  
(in millions, except per share amounts)
  
December 30, 2023
    
December 31, 2022
  
Numerator
            
Consolidated net income
  
$
59
    
$
106
  
Denominator
                
Weighted average common shares outstanding - basic
    
115.6
      
123.7
  
Dilutive shares
    
2.7
      
1.5
  
Weighted average common and common equivalent shares outstanding - diluted
    
118.3
      
125.2
  
                 
Per common share earnings
                
Basic
  
$
0.51
    
$
0.86
  
Diluted
  
$
0.50
    
$
0.85
  

For the three months ended December 30, 2023 and December 31, 2022, 2.4 million and 5.8 million shares, respectively, were excluded from the diluted EPS calculation as their effect would be anti-dilutive.