XML 33 R16.htm IDEA: XBRL DOCUMENT
v3.20.2

Net Income per Share | 12 Months Ended
--- | ---
Jun. 28, 2020
Earnings Per Share [Abstract] |
Net Income per Share | Net Income per Share Basic net income per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted net income per share is computed using the treasury stock method, for dilutive stock options, restricted stock units, and convertible notes. The following table reconciles the numerators and denominators of the basic and diluted computations for net income per share.
| Year Ended |
June 28, 2020 |  | June 30, 2019 |  | June 24, 2018 |
| (in thousands, except per share data) |
Numerator: |  |  |  |  |  |
Net income | $ | 2,251,753 |  |  | $ | 2,191,430 |  |  | $ | 2,380,681 |  |
Denominator: |  |  |  |  |  |
Basic average shares outstanding | 144,814 |  |  | 152,478 |  |  | 161,643 |  |
Effect of potential dilutive securities: |  |  |  |  |  |
Employee stock plans | 1,236 |  |  | 1,323 |  |  | 2,312 |  |
Convertible notes | 3,040 |  |  | 5,610 |  |  | 12,258 |  | (1)
Warrants | — |  |  | 504 |  |  | 4,569 |  |
Diluted average shares outstanding | 149,090 |  |  | 159,915 |  |  | 180,782 |  |
Net income per share - basic | $ | 15.55 |  |  | $ | 14.37 |  |  | $ | 14.73 |  |
Net income per share - diluted | $ | 15.10 |  |  | $ | 13.70 |  |  | $ | 13.17 |  |
(1) | Diluted shares outstanding do not include any effect resulting from note hedges associated with the Company’s 2018 Notes as their impact would have been anti-dilutive.
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:
| Year Ended
June 28, 2020 |  | June 30, 2019 |  | June 24, 2018
| (in thousands)
Options and RSUs | 206 |  |  | 578 |  |  | 34 |

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration