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Net Income (Loss) Per Common Share
 12 Months Ended
Jun. 28, 2019
Earnings Per Share [Abstract]  
Net Income (Loss) Per Common Share
Net Income (Loss) Per Common Share

The following table presents the computation of basic and diluted income (loss) per common share:
 
2019
 
2018
 
2017
 
(in millions, except per share data)
Net income (loss)
$
(754
)
 
$
675

 
$
397

Weighted average shares outstanding:
 
 
 
 
 
Basic
292

 
297

 
288

Employee stock options, RSUs, PSUs and ESPP
—

 
10

 
8

Diluted
292

 
307

 
296

Income (loss) per common share
 
 
 
 
 
Basic
$
(2.58
)
 
$
2.27

 
$
1.38

Diluted
$
(2.58
)
 
$
2.20

 
$
1.34



The Company computes basic income (loss) per common share using net income (loss) 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. For 2018 and 2017, the Company excluded 2 million and 3 million common shares, respectively, subject to outstanding equity awards from the calculation of diluted shares because their impact would have been anti-dilutive based on the Company’s average stock price during the period. For 2019, the Company reported a net loss, and all outstanding equity awards have been excluded from such periods because including them would be anti-dilutive.