v3.26.1
Earnings (Loss) Per Common Share (Tables)
 6 Months Ended
Jul. 04, 2026
Earnings Per Share [Abstract]  
Schedule of Computation of Basic and Diluted Earnings Per Share
The reconciliation of the numerator and denominator used for the computation of basic and diluted earnings (loss) per common share follows:

Three Months EndedSix Months Ended
(in millions, except per share data)July 4, 2026June 28, 2025July 4, 2026June 28, 2025
Numerator for basic and diluted earnings (loss) per common share:
Net income (loss)$97 $(825)$135 $(819)
Less: preferred stock dividends8 8 17 17 
Less: undistributed income allocated to preferred stockholders10 — 13 — 
Net income (loss) available to common stockholders$79 $(833)$105 $(836)
Denominator for basic and diluted earnings (loss) per common share:
Weighted average basic number of common shares outstanding151 149 151 148 
Plus: dilutive effect of common stock equivalents3 — 4 — 
Weighted average diluted number of common shares outstanding154 149 155 148 
Earnings (loss) per common share:
Basic$0.52 $(5.59)$0.70 $(5.65)
Diluted$0.51 $(5.59)$0.68 $(5.65)
Three Months EndedSix Months Ended
(in millions)July 4, 2026June 28, 2025July 4, 2026June 28, 2025
RSUs and other rights— 5.9 — 6.0 
PSUs— 2.2 — 2.2 
Preferred stock0.5 0.5 0.5 0.5