Net Income (Loss) Per Common Share

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



	Three Months Ended					Nine Months Ended
	March 29, 2019			March 30, 2018		March 29, 2019			March 30, 2018
	(in millions, except per share data)
Net income (loss)	$	(581	)	$	61	$	(557	)	$	(81	)
Weighted average shares outstanding:
Basic	292			298		291			296
Employee stock options, RSUs, PSUs and ESPP	—			10		—			—
Diluted	292			308		291			296
Income (loss) per common share
Basic	$	(1.99	)	$	0.20	$	(1.91	)	$	(0.27	)
Diluted	$	(1.99	)	$	0.20	$	(1.91	)	$	(0.27	)

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 (loss) per common share is computed using net income (loss) 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 the three months ended March 30, 2018, the Company excluded 2 million common shares 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 the three and nine months ended March 29, 2019 and the nine months ended March 30, 2018, the Company reported a net loss, and all outstanding equity awards have been excluded from such periods because including them would be anti-dilutive. See Note 10, Shareholders’ Equity.