13. Net Income per Share

The following is a calculation of basic and diluted net income per share for the periods presented (in millions):


	Three Months Ended				Nine Months Ended
	January 27, 2012		January 28, 2011		January 27, 2012		January 28, 2011
Numerator:
Net income	$	119.6	$	186.4	$	424.7	$	512.5
Denominator:
Shares used in basic computation		360.3		364.8		364.0		358.8
Dilutive potential shares related to employee equity award plans		7.6		14.7		9.1		15.3
Dilutive impact of assumed conversion of Notes		5.8		16.9		9.3		11.9
Dilutive impact of warrants		0.0		9.8		2.7		4.7

Shares used in diluted computation		373.7		406.2		385.1		390.7

Net Income per Share:
Basic	$	0.33	$	0.51	$	1.17	$	1.43

Diluted	$	0.32	$	0.46	$	1.10	$	1.31

The following potential weighted-average shares of common stock have been excluded from the diluted net income per share calculations, as their effect would have been anti-dilutive (in millions):

Three Months Ended

Nine Months Ended

January 27,
2012

January 28,
2011

January 27,
2012

January 28,
2011

Options and RSUs

13.5

1.0

10.9

2.8

Dilutive shares outstanding during the three months ended January 27, 2012 do not include any effect resulting from warrants, as their impact would have been anti-dilutive. The Note hedges (as described in Note 9) are not included in the calculation of earnings per share as their effect would have been anti-dilutive. The Note hedges, if exercised upon conversion of the Notes, are expected to reduce approximately 80% of the dilutive effect of the Notes when our stock price is above $31.85 per share.