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Income Per Common Share
3 Months Ended
Sep. 30, 2011
Income per Common Share [Abstract] 
Income per Common Share
3. Income per Common Share
The Company computes basic income per common share using net income and the weighted average number of common shares outstanding during the period. Diluted income per common share is computed using net income and the weighted average number of common shares and potentially dilutive common shares outstanding during the period. Potentially dilutive common shares include certain dilutive outstanding employee stock options, rights to purchase shares of common stock under the Company’s Employee Stock Purchase Plan (“ESPP”) and restricted stock unit awards.
The following table illustrates the computation of basic and diluted income per common share (in millions, except per share data):
                 
    Three Months  
    Ended  
    Sept. 30,     Oct. 1,  
    2011     2010  
Net income
  $ 239     $ 197  
 
           
Weighted average shares outstanding:
               
Basic
    233       230  
Employee stock options and other
    4       4  
 
           
Diluted
    237       234  
 
           
Income per common share:
               
Basic
  $ 1.03     $ 0.86  
 
           
Diluted
  $ 1.01     $ 0.84  
 
           
Anti-dilutive potential common shares excluded*
    4       4  
 
           
 
     
*  
For purposes of computing diluted income per common share, certain potentially dilutive securities have been excluded from the calculation because their effect would have been anti-dilutive.