Net Loss Per Common Share

3 Months Ended

Oct. 02, 2020

The following table presents the computation of basic and diluted loss per common share:


	Three Months Ended
	October 2, 2020		October 4, 2019
	(in millions, except per share data)
Net loss	$	(60)	$	(276)
Weighted average shares outstanding:


Basic and diluted	303		296
Loss per common share

Basic and diluted	$	(0.20)	$	(0.93)
Anti-dilutive potential common shares excluded	16		15

The Company computes basic loss per common share using Net loss and the weighted average number of common shares outstanding during the period. Diluted loss per common share is computed using Net 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 three months ended October 2, 2020 and the three months ended October 4, 2019, 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.