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NET INCOME PER SHARE | 6 Months Ended
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Dec. 28, 2014
NET INCOME PER SHARE | NOTE 10 — NET INCOME PER SHARE Basic net income per share is computed by dividing net income by the weighted-average number of shares of Common Stock outstanding during the period. Diluted net income per share is computed using the treasury stock method, for dilutive stock options, RSUs, and convertible notes. Dilutive shares outstanding include the effect of the 2016, 2018 and 2041 Notes. The following table reconciles the numerators and denominators of the basic and diluted computations for net income per share.
|  | Three Months Ended |  |  | Six Months Ended |
|  | December 28, 2014 |  |  | December 29, 2013 |  |  | December 28, 2014 |  |  | December 29, 2013 |
|  | (in thousands, except per share data) |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 176,940 |  |  | $ | 148,992 |  |  | $ | 318,021 |  |  | $ | 234,498 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic average shares outstanding |  |  | 159,248 |  |  |  | 162,305 |  |  |  | 160,467 |  |  |  | 162,603 |
Effect of potential dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Employee stock plans |  |  | 3,304 |  |  |  | 2,847 |  |  |  | 3,432 |  |  |  | 2,869 |
Convertible notes |  |  | 13,744 |  |  |  | 6,605 |  |  |  | 12,805 |  |  |  | 6,120 |
Warrants |  |  | 750 |  |  |  | — |  |  |  | 378 |  |  |  | — |
Diluted average shares outstanding |  |  | 177,046 |  |  |  | 171,757 |  |  |  | 177,082 |  |  |  | 171,592 |
Net income per share - basic |  | $ | 1.11 |  |  | $ | 0.92 |  |  | $ | 1.98 |  |  | $ | 1.44 |
Net income per share - diluted |  | $ | 1.00 |  |  | $ | 0.87 |  |  | $ | 1.80 |  |  | $ | 1.37 |
For purposes of computing diluted net income per share, weighted-average common shares do not include potentially dilutive securities that are anti-dilutive under the treasury stock method. The following potentially dilutive securities were excluded:
|  | Three Months Ended |  |  | Six Months Ended |
|  | December 28, 2014 |  |  | December 29, 2013 |  |  | December 28, 2014 |  |  | December 29, 2013 |
|  | (in thousands) |
Number of potential dilutive securities excluded |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 296 |
Diluted shares outstanding do not include any effect resulting from the note hedges associated with the Company’s 2016 or 2018 Notes (as described in Note 12) as their impact would have been anti-dilutive.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 + Details
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