Net Income Per Share

The following is a reconciliation of the denominator of the basic and diluted net income per share computations for the periods presented:



	Year Ended
	January 27, 2019		January 28, 2018		January 29, 2017
	(In millions, except per share data)
Numerator:
Net income	$	4,141	$	3,047	$	1,666
Denominator:
Basic weighted average shares	608		599		541
Dilutive impact of outstanding securities:
Equity awards	17		24		26
1.00% Convertible Senior Notes	—		5		44
Warrants issued with the 1.00% Convertible Senior Notes	—		4		38
Diluted weighted average shares	625		632		649
Net income per share:
Basic (1)	$	6.81	$	5.09	$	3.08
Diluted (2)	$	6.63	$	4.82	$	2.57
Equity awards excluded from diluted net income per share because their effect would have been anti-dilutive	5		4		8


(1)	Calculated as net income divided by basic weighted average shares.


(2)	Calculated as net income divided by diluted weighted average shares.

The 1.00% Convertible Senior Notes Due 2018, or the Convertible Notes, were included in the calculation of diluted net income per share. The Convertible Notes had a dilutive impact on net income per share if our average stock price for the reporting period exceeded the adjusted conversion price of $20.02 per share. The warrants associated with our Convertible Notes, or the Warrants, outstanding were also included in the calculation of diluted net income per share. As of January 27, 2019, there were no Convertible Notes or Warrants outstanding.

Refer to Note 11 of these Notes to the Consolidated Financial Statements for additional discussion regarding the Convertible Notes, Note Hedges, and Warrants.