Net Income Per Common Share

12 Months Ended

Jun. 29, 2018

The following table presents the computation of basic and diluted income per common share:



	Year Ended
	2018		2017		2016
	(in millions, except per share data)
Net income	$	675	$	397	$	242
Weighted average shares outstanding:
Basic	297		288		239
Employee stock options, RSUs, PSUs and ESPP	10		8		3
Diluted	307		296		242
Income per common share
Basic	$	2.27	$	1.38	$	1.01
Diluted	$	2.20	$	1.34	$	1.00
Anti-dilutive potential common shares excluded⁽¹⁾	2		3		5


⁽¹⁾	For purposes of computing diluted income per common share, certain potentially dilutive securities have been excluded from the calculation because their effect would have been anti-dilutive.

The Company computes basic income per common share using net income and the weighted average number of common shares outstanding during the period. Diluted income per common share is computed using net income and the weighted average number of common shares and potentially dilutive common shares outstanding during the period. Potentially dilutive common shares include dilutive outstanding employee stock options, RSUs and PSUs, and rights to purchase shares of common stock under the Company’s ESPP.