Net Income Per Share

3 Months Ended

Mar. 30, 2014

Earnings Per Share [Abstract]

Net Income Per Share

Net Income per Share

The following table sets forth the computation of basic and diluted net income per share (in thousands, except per share amounts):

	Three months ended
	March 30, 2014		March 31, 2013
Numerator for basic net income per share:
Net income	$	268,948	$	166,229
Denominator for basic net income per share:
Weighted-average common shares outstanding	225,845		242,519
Basic net income per share	$	1.19	$	0.69
Numerator for diluted net income per share:
Net income	$	268,948	$	166,229
Denominator for diluted net income per share:
Weighted-average common shares outstanding	225,845		242,519
Incremental common shares attributable to exercise of outstanding employee stock options, SARs and ESPP (assuming proceeds would be used to purchase common stock), and RSUs	3,103		3,058
1.5% Notes due 2017	5,702		—
Warrants	264		—
Shares used in computing diluted net income per share	234,914		245,577
Diluted net income per share	$	1.14	$	0.68
Anti-dilutive shares excluded from net income per share calculation	33,000		68,296

Basic earnings per share exclude any dilutive effects of stock options, SARs, RSUs, warrants and convertible debt. Diluted earnings per share include the dilutive effects of stock options, SARs, RSUs, ESPP and the 1.5% Notes due 2017. Certain common stock issuable under stock options, SARs, RSUs, warrants and the 0.5% Notes due 2020 has been omitted from the current year diluted net income per share calculation because the inclusion is considered anti-dilutive. Certain common stock issuable under stock options, SARs, RSUs, warrants, the 1% Notes due 2013 and the 1.5% Notes due 2017 has been omitted from the prior year diluted net income per share calculation because the inclusion is considered anti-dilutive.