Earnings Per Share

3 Months Ended

Dec. 30, 2016

The following table sets forth the computation of basic and diluted earnings per share (in millions, except per share amounts):



	Three Months Ended
	December 30, 2016		January 1, 2016
Net income	$	257.8	$	355.3

Weighted average shares outstanding – basic	184.8		190.4
Dilutive effect of equity based awards	2.5		4.3
Weighted average shares outstanding – diluted	187.3		194.7

Net income per share – basic	$	1.39	$	1.87
Net income per share – diluted	$	1.38	$	1.82

Anti-dilutive common stock equivalents	1.4		0.7

Basic earnings per share are calculated by dividing net income by the weighted average number of shares of the Company’s common stock outstanding during the period. The calculation of diluted earnings per share includes the dilutive effect of equity based awards that were outstanding during the three months ended December 30, 2016, and January 1, 2016, using the treasury stock method. Certain of the Company’s outstanding share-based awards, noted in the table above, were excluded because they were anti-dilutive, but they could become dilutive in the future.