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Earnings Per Share
 12 Months Ended
Jul. 03, 2021
Earnings Per Share [Abstract]  
Earnings Per Share
Note 3. Earnings Per Share
Basic net income per share is computed by dividing net income for the period by the weighted average number of common shares outstanding during the period. Diluted net income per share is computed by dividing net income for the period by the weighted average number of shares of common stock and potentially dilutive common stock outstanding during the period. If dilutive, the effect of outstanding Employee Stock Purchase Program (ESPP) purchase rights, restricted stock units (RSUs), performance-based stock units (PSUs), market-based stock units (MSUs), options and senior convertible notes is reflected in diluted net income per share by application of the treasury stock method and/or the if-converted method, as applicable. The calculation of diluted net income per share excludes all anti-dilutive common shares.
The following table sets forth the computation of basic and diluted net income per share (in millions, except per share data):
 Years Ended
 July 3, 2021June 27, 2020June 29, 2019
Numerator:   
Income from continuing operations, net of taxes$46.1 $28.7 $7.8 
Loss from discontinued operations, net of taxes— — (2.4)
Net income$46.1 $28.7 $5.4 
Denominator:
Weighted-average shares outstanding:
Basic 228.7 229.4 228.1 
Shares issuable assuming conversion of convertible notes (1)
4.6 1.2 — 
Effect of dilutive securities from stock-based benefit plans2.6 3.1 3.1 
Diluted235.9 233.7 231.2 
Net income per share from - basic:
Continuing operations$0.20 $0.13 $0.03 
Discontinued operations— — (0.01)
Net income$0.20 $0.13 $0.02 
Net income per share from - diluted:
Continuing operations$0.20 $0.12 $0.03 
Discontinued operations— — (0.01)
Net income$0.20 $0.12 $0.02 
(1)Represents the dilutive impact under the if-converted method for the Company's 1.75% Senior Convertible Notes due 2023 and the 1.00% Senior Convertible Notes due 2024. As of July 3, 2021, the if-converted value in excess of outstanding principal of the 1.75% Senior Convertible Notes due 2023 and the 1.00% Senior Convertible Notes due 2024 was $13.8 million and $54.8 million, respectively. Refer to “Note 11. Debt” for more information.
The following table sets forth the weighted-average potentially dilutive securities excluded from the computation of the diluted net income per share because their effect would have been anti-dilutive (in millions):
 Years Ended
 July 3, 2021June 27, 2020June 29, 2019
Stock options and ESPP— — 0.1 
Full Value Awards0.4 0.2 0.4 
Total potentially dilutive securities0.4 0.2 0.5