v3.25.2
Earnings Per Share (Tables)
6 Months Ended
Jul. 05, 2025
Earnings Per Share [Abstract]  
Computations of Basic and Diluted Net Earnings Per Share

The computations of basic and diluted net earnings per share for the second quarter and first six months of 2025 and 2024 are as follows (in millions, except per share amounts):
 

 

 

Three Months (13 Weeks) Ended

 

 

Six Months (26 Weeks) Ended

 

 

 

July 5, 2025

 

 

June 29, 2024

 

 

July 5, 2025

 

 

June 29, 2024

 

Basic net earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic net earnings

 

$

603

 

 

$

645

 

 

$

759

 

 

$

1,490

 

Earnings allocated to participating securities

 

 

(3

)

 

 

(3

)

 

 

(3

)

 

 

(6

)

Net earnings available to common
   stockholders

 

$

600

 

 

$

642

 

 

$

756

 

 

$

1,484

 

Basic average shares outstanding

 

 

230.6

 

 

 

239.6

 

 

 

231.7

 

 

 

241.3

 

Basic net earnings per share

 

$

2.60

 

 

$

2.68

 

 

$

3.26

 

 

$

6.15

 

Diluted net earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

Diluted net earnings

 

$

603

 

 

$

645

 

 

$

759

 

 

$

1,490

 

Earnings allocated to participating securities

 

 

(3

)

 

 

(3

)

 

 

(3

)

 

 

(6

)

Net earnings available to common
   stockholders

 

$

600

 

 

$

642

 

 

$

756

 

 

$

1,484

 

Diluted average shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

Basic average shares outstanding

 

 

230.6

 

 

 

239.6

 

 

 

231.7

 

 

 

241.3

 

Dilutive effect of stock options and other

 

 

0.2

 

 

 

0.4

 

 

 

0.2

 

 

 

0.2

 

 

 

230.8

 

 

 

240.0

 

 

 

231.9

 

 

 

241.5

 

Diluted net earnings per share

 

$

2.60

 

 

$

2.68

 

 

$

3.26

 

 

$

6.14

 

 

Anti-dilutive Stock Options

The following stock options were excluded from the computation of diluted net earnings per share because their effect would have been anti-dilutive (shares in thousands):

 

 

 

Three Months (13 Weeks) Ended

 

 

Six Months (26 Weeks) Ended

 

 

 

July 5, 2025

 

 

June 29, 2024

 

 

July 5, 2025

 

 

June 29, 2024

 

Anti-dilutive stock options:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares

 

 

129

 

 

 

-

 

 

 

124

 

 

 

-

 

Weighted-average exercise price

 

$

142.08

 

 

$

-

 

 

$

142.08

 

 

$

-