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Earnings per share | 12 Months Ended
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Jul. 02, 2011
Earnings per share [Abstract] |
Earnings per share | 14. Earnings per share Basic earnings per share is computed based on the weighted average number of common shares outstanding and excludes any potential dilution. Diluted earnings per share reflect potential dilution from the exercise or conversion of securities into common stock.
|  | Years Ended |
|  | July 2, |  |  | July 3, |  |  | June 27, |
|  | 2011 |  |  | 2010 |  |  | 2009 |
|  | (Thousands, except per share data) |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) for basic and diluted earnings per share |  | $ | 669,069 |  |  | $ | 410,370 |  |  | $ | (1,129,712 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average common shares for basic earnings (loss) per share |  |  | 152,481 |  |  |  | 151,629 |  |  |  | 150,898 |
Net effect of dilutive stock options and performance share awards |  |  | 1,856 |  |  |  | 1,464 |  |  |  | — |
Weighted average common shares for diluted earnings per share |  |  | 154,337 |  |  |  | 153,093 |  |  |  | 150,898 |
Basic earnings (loss) per share |  | $ | 4.39 |  |  | $ | 2.71 |  |  | $ | (7.49 | )
Diluted earnings (loss) per share |  | $ | 4.34 |  |  | $ | 2.68 |  |  | $ | (7.49 | )
Options to purchase 238,000 and 700,000 shares of the Company’s stock were excluded from the calculations of diluted earnings per shares in fiscal 2011 and 2010, respectively, because the exercise price for those options was above the average market price of the Company’s stock during those periods. Inclusion of these options in the diluted earnings per share calculation would have had an anti-dilutive effect. For fiscal 2009, dilutive effects of stock options, stock awards and shares issuable upon conversion of the Company’s 2% Convertible Debentures were excluded from the computation of earnings per diluted share because the Company recognized a net loss and inclusion of these items would have had an anti-dilutive effect. The Convertible Debentures were repaid in March 2009.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1252-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=6945512&loc=d3e4984-109258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 40 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1278-109256 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 + Details
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