Net Income Per Share

9 Months Ended

Mar. 27, 2021

3. Net Income Per Share

The computation of basic and diluted net income per share was as follows (in millions, except per share data):

	Three Months Ended				Nine Months Ended
	March				March
	2021		2020		2021		2020
Numerator:
Net income	$	13.8	$	5.0	$	60.6	$	28.8
Denominator:
Shares, basic		35.0		34.0		34.7		33.5
Effect of dilutive share-based awards and convertible notes		4.1		1.0		2.8		1.0
Shares, diluted		39.1		35.0		37.5		34.5
Net income per share:
Basic	$	0.39	$	0.15	$	1.75	$	0.86
Diluted	$	0.35	$	0.14	$	1.62	$	0.83

Our basic net income per share amounts for each period presented have been computed using the weighted average number of shares of common stock outstanding over the period measured. Our diluted net income per share amounts for each period presented include the weighted average effect of potentially dilutive shares. We use the treasury stock method to determine the dilutive effect of our stock options, restricted stock units, or RSUs, market stock units, or MSUs, performance stock units, or PSUs, and our convertible notes.

Dilutive net income per share amounts do not include the potential weighted average effect of 32,109 and 345,783 shares of common stock related to certain share-based awards that were outstanding during the three months ended March 27, 2021 and March 28, 2020, respectively, and 68,795 and 800,857 shares of common stock related to certain share-based awards that were outstanding during the nine months ended March 27, 2021 and March 28, 2020, respectively. These share-based awards were not included in the computation of diluted net income per share because their effect would have been antidilutive.