Net Income (Loss) Per Share

3 Months Ended

Apr. 03, 2022

(4) Net income (loss) per share

Basic net income (loss) per ordinary share is based on the weighted-average number of ordinary shares outstanding during the period. Diluted net income (loss) per ordinary share is based on the weighted-average number of ordinary shares and ordinary share equivalents, calculated using the treasury stock method, outstanding during the period. The Company excludes potential ordinary share equivalents from the calculation if the effect would be anti-dilutive. For the fiscal quarter ended April 4, 2021, during which the Company incurred a Net loss, it excluded potential ordinary share equivalents from the calculations of Diluted net loss per ordinary share because the effect was anti-dilutive. The weighted-average number of ordinary shares used in the computation of Basic and Diluted net income (loss) per share were as follows:


	Fiscal Quarter Ended
(In millions)	April 3, 2022		April 4, 2021
Basic weighted-average ordinary shares outstanding		237.2		206.2
Effect of stock options, unvested restricted shares and restricted stock units		4.8		—
Diluted weighted-average ordinary shares		242.0		206.2

The following table provides the total outstanding ordinary share equivalents, unaffected by the treasury stock method weighted-average calculation, as of the end of each period below:


	Fiscal Quarter Ended
(In millions)	April 3, 2022		April 4, 2021
Stock options		12.6		15.9
Unvested restricted shares and restricted stock units		0.5		1.0
		13.1		16.9