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Earnings Per Share | 9 Months Ended
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Mar. 30, 2012
Earnings Per Share |
Earnings Per Share |
12. Earnings Per Share Basic earnings per share is computed by dividing income available to shareholders by the weighted-average number of shares outstanding during the period. Diluted earnings per share is computed by dividing income available to shareholders by the weighted-average number of shares outstanding during the period and the number of additional shares that would have been outstanding if the potentially dilutive securities had been issued. Potentially dilutive securities include outstanding options, shares to be purchased under the ESPP, and unvested restricted stock units. The dilutive effect of potentially dilutive securities is reflected in diluted earnings per share by application of the treasury stock method. Under the treasury stock method, an increase in fair market value of the Company’s share price can result in a greater dilutive effect from potentially dilutive securities. The following table sets forth the computation of basic and diluted net income per share:
|  | For the Three Months Ended |  | For the Nine Months Ended |
(Dollars in millions, except per share data) |  | March 30, 2012 |  | April 1, 2011 |  | March 30, 2012 |  | April 1, 2011 |
Numerator: |  |  |  |  |  |  |  |  |
Net income |  | $ | 1,146 |  | $ | 93 |  | $ | 1,849 |  | $ | 392 |
Number of shares used in per share calculations: |  |  |  |  |  |  |  |  |
Total shares for purpose of calculating basic net income per share |  | 446 |  | 437 |  | 431 |  | 459 |
Weighted-average effect of dilutive securities: |  |  |  |  |  |  |  |  |
Employee equity award plans |  | 17 |  | 16 |  | 14 |  | 16 |
Dilutive potential shares: |  | 17 |  | 16 |  | 14 |  | 16 |
Total shares for purpose of calculating diluted net income per share |  | 463 |  | 453 |  | 445 |  | 475 |
Net income per share: |  |  |  |  |  |  |  |  |
Basic net income per share |  | $ | 2.57 |  | $ | 0.21 |  | $ | 4.29 |  | $ | 0.85 |
Diluted net income per share |  | $ | 2.48 |  | $ | 0.21 |  | $ | 4.16 |  | $ | 0.83 |
The following potential shares were excluded from the computation of diluted net income per share, as their effect would have been anti-dilutive:
|  | For the Three Months Ended |  | For the Nine Months Ended |
(In millions) |  | March 30, 2012 |  | April 1, 2011 |  | March 30, 2012 |  | April 1, 2011 |
Employee equity award plans |  | — |  | 15 |  | 9 |  | 18 |

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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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