Earnings Per Share (Tables)

6 Months Ended

Jun. 26, 2021

Earnings Per Share [Abstract]

Components of Basic and Diluted Earnings (Loss) Per Share

The following table sets forth the components of basic and diluted earnings per share:

	Three Months Ended				Six Months Ended
	June 26, 2021		June 27, 2020		June 26, 2021		June 27, 2020
	(In millions, except per share amounts)
Numerator
Net income for basic earnings per share	$	710	$	157	$	1,265	$	319
Effect of potentially dilutive shares:
Interest expense related to the 2.125% Notes	—		3		—		7
Net income for diluted earnings per share	$	710	$	160	$	1,265	$	326
Denominator
Basic weighted average shares	1,216		1,174		1,214		1,172
Effect of potentially dilutive shares:
Employee equity plans and warrants	16		22		17		22
2.125% Notes	—		31		—		31
Diluted weighted average shares	1,232		1,227		1,231		1,225
Earnings per share:
Basic	$	0.58	$	0.13	$	1.04	$	0.27
Diluted	$	0.58	$	0.13	$	1.03	$	0.27