EARNINGS PER SHARE

9 Months Ended

Dec. 26, 2020

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHARE

	Three Months Ended December				Nine Months Ended December
(In thousands, except per share amounts)	2020		2019		2020		2019
Earnings per share – basic:
Income from continuing operations	$	327,659	$	421,582	$	293,163	$	1,112,232
Weighted average common shares outstanding	389,872		395,940		389,262		396,806
Earnings per share from continuing operations	$	0.84	$	1.06	$	0.75	$	2.80
Earnings per share – diluted:
Income from continuing operations	$	327,659	$	421,582	$	293,163	$	1,112,232
Weighted average common shares outstanding	389,872		395,940		389,262		396,806
Incremental shares from stock options and other dilutive securities	2,979		4,382		2,345		4,693
Adjusted weighted average common shares outstanding	392,851		400,322		391,607		401,499
Earnings per share from continuing operations	$	0.83	$	1.05	$	0.75	$	2.77

Outstanding options to purchase approximately 1.5 million and 4.1 million shares were excluded from the calculations of diluted earnings per share for the three and nine-month periods ended December 2020, respectively, and outstanding options to purchase approximately 1.5 million shares were excluded from the calculations of diluted earnings per share for both the three and nine-month periods ended December 2019, because the effect of their inclusion would have been anti-dilutive. In addition, 0.8 million and 0.6 million shares of performance-based RSUs were excluded from the calculations of diluted earnings per share for the three and nine-month periods ended December 2020, respectively, and 0.8 million shares of performance-based RSUs were excluded from the calculations of diluted earnings per share for both the three and nine-month periods ended December 2019, because these units were not considered to be contingent outstanding shares in those periods.