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Net Income (Loss) Per Common Share
 6 Months Ended
Jan. 03, 2020
Earnings Per Share [Abstract]  
Net Income (Loss) Per Common Share
Net Income (Loss) Per Common Share

The following table presents the computation of basic and diluted income (loss) per common share:
 
Three Months Ended
 
Six Months Ended
 
January 3,
2020
 
December 28,
2018
 
January 3,
2020
 
December 28, 2018
 
(in millions, except per share data)
Net income (loss)
$
(139
)
 
$
(487
)
 
$
(415
)
 
$
24

Weighted average shares outstanding:
 
 
 
 
 
 
 
Basic
298

 
290

 
297

 
291

Employee stock options, RSUs, PSUs and ESPP
—

 
—

 
—

 
5

Diluted
298

 
290

 
297

 
296

Income (loss) per common share
 
 
 
 
 
 
 
Basic
$
(0.47
)
 
$
(1.68
)
 
$
(1.40
)
 
$
0.08

Diluted
$
(0.47
)
 
$
(1.68
)
 
$
(1.40
)
 
$
0.08

Anti-dilutive potential common shares excluded
15

 
19

 
15

 
8



The Company computes basic income (loss) per common share using Net income (loss) and the weighted average number of common shares outstanding during the period. Diluted income (loss) per common share is computed using Net income (loss) and the weighted average number of common shares and potentially dilutive common shares outstanding during the period. Potentially dilutive common shares include dilutive outstanding employee stock options, RSUs and PSUs, and rights to purchase shares of common stock under the Company’s ESPP. For the six months ended December 28, 2018, the Company excluded common shares subject to outstanding equity awards from the calculation of diluted shares because their impact would have been anti-dilutive based on the Company’s average stock price during the period. For the three and six months ended January 3, 2020, and the three months ended December 28, 2018, the Company recorded net losses, and all shares subject to outstanding equity awards have been excluded for those periods because including them would be anti-dilutive.