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



	Three Months Ended
	January 31, 2015		January 25, 2014
Basic net income per share
Net income	$	87,267	$	80,884
Weighted-average shares used in computing basic net income per share	428,536		440,573
Basic net income per share	$	0.20	$	0.18
Diluted net income per share
Net income	$	87,267	$	80,884
Weighted-average shares used in computing basic net income per share	428,536		440,573
Dilutive potential common shares in the form of stock options	1,734		2,620
Dilutive potential common shares in the form of other share-based awards	8,886		10,356
Weighted-average shares used in computing diluted net income per share	439,156		453,549
Diluted net income per share	$	0.20	$	0.18
Antidilutive potential common shares in the form of: ⁽¹⁾
Warrants issued in conjunction with the 2020 Convertible Notes ⁽²⁾	7,140		—
Stock options	577		3,015
Other share-based awards	—		462


⁽¹⁾	These amounts are excluded from the computation of diluted net income per share.

⁽²⁾

In connection with the issuance of the 2020 Convertible Notes, the Company entered into convertible note hedge and warrant transactions as described in Note 8, “Borrowings.” The 2020 Convertible Notes have no impact on diluted earnings per share until the average quarterly price of the Company’s common stock exceeds the conversion price of $15.93 per share. If the common stock price exceeds this conversion price, prior to conversion, the Company will calculate the effect of the additional shares that may be issued using the treasury stock method. If the average price of the Company’s common stock exceeds $20.65 per share for a quarterly period, the Company’s weighted-average shares used in computing diluted net income per share will be impacted by the effect of the additional potential shares that may be issued related to the warrants using the treasury stock method. The convertible note hedge is not considered for purposes of the diluted earnings per share calculation, as its effect would be antidilutive.