XML 29 R17.htm IDEA: XBRL DOCUMENT v3.7.0.1
Earnings Per Share
9 Months Ended
Mar. 26, 2017
Earnings Per Share [Abstract]  
Earnings Per Share
(Loss) Earnings Per Share
The following table presents the computation of basic (loss) earnings per share (in thousands, except per share amounts):
 
Three Months Ended
 
Nine Months Ended
 
March 26,
2017
 
March 27,
2016
 
March 26,
2017
 
March 27,
2016
Net (loss) income

($99,013
)
 

$152

 

($92,230
)
 

($10,895
)
Weighted average common shares
97,346

 
100,606

 
98,791

 
102,157

Basic (loss) earnings per share

($1.02
)
 

$—

 

($0.93
)
 

($0.11
)

The following computation reconciles the differences between the basic and diluted (loss) earnings per share presentations (in thousands, except per share amounts): 
 
Three Months Ended
 
Nine Months Ended
 
March 26,
2017
 
March 27,
2016
 
March 26,
2017
 
March 27,
2016
Net (loss) income

($99,013
)
 

$152

 

($92,230
)
 

($10,895
)
Weighted average common shares - basic
97,346

 
100,606

 
98,791

 
102,157

Dilutive effect of stock options, nonvested shares and Employee Stock Purchase Plan purchase rights

 
615

 

 

Weighted average common shares - diluted
97,346

 
101,221

 
98,791

 
102,157

Diluted (loss) earnings per share

($1.02
)
 

$—

 

($0.93
)
 

($0.11
)

Potential common shares that would have the effect of increasing diluted earnings per share or decreasing diluted loss per share are considered to be anti-dilutive and as such, these shares are not included in calculating diluted earnings per share. For the three and nine months ended March 26, 2017, there were 11.3 million and 11.5 million, respectively, of potential common shares not included in the calculation of diluted (loss) earnings per share because their effect was anti-dilutive. For the three and nine months ended March 27, 2016, there were 10.2 million and 11.5 million, respectively, of potential common shares not included in the calculation of diluted (loss) earnings per share because their effect was anti-dilutive.