XML 55 R17.htm IDEA: XBRL DOCUMENT v2.4.1.9
NET INCOME PER SHARE
 9 Months Ended
Mar. 29, 2015
NET INCOME PER SHARE

NOTE 11 — 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      Nine Months Ended  
     March 29,
2015		      March 30,
2014		      March 29,
2015		      March 30,
2014		  
     (in thousands, except per share data)  

Numerator:

            

Net income

    $ 206,285       $ 164,396       $ 524,306       $ 398,894   
  

 

 

     

 

 

     

 

 

     

 

 

  

Denominator:

Basic average shares outstanding

   158,992      162,238      159,975      161,904   

Effect of potential dilutive securities:

Employee stock plans

   3,058      2,641      3,307      2,810   

Convertible notes

   14,351      6,757      13,321      6,337   

Warrants

   1,130      —        628      —     
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted average shares outstanding

   177,531      171,636      177,231      171,051   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net income per share - basic

 $ 1.30    $ 1.01    $ 3.28    $ 2.46   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net income per share - diluted

 $ 1.16    $ 0.96    $ 2.96    $ 2.33   
  

 

 

     

 

 

     

 

 

     

 

 

  

 

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      Nine Months Ended  
     March 29,
2015		      March 30,
2014		      March 29,
2015		      March 30,
2014		  
     (in thousands)  

Number of potential dilutive securities excluded

      324         75         154         85   
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted shares outstanding do not include any effect resulting from the note hedges associated with the Company’s 2016 or 2018 Notes as their impact would have been anti-dilutive.