Earnings Per Share

12 Months Ended

Sep. 27, 2019

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



	Fiscal Years Ended
	September 27, 2019		September 28, 2018		September 29, 2017
Net income	$	853.6	$	918.4	$	1,010.2

Weighted average shares outstanding – basic	173.5		181.3		184.3
Dilutive effect of equity based awards	1.0		1.9		2.4
Weighted average shares outstanding – diluted	174.5		183.2		186.7

Net income per share – basic	$	4.92	$	5.06	$	5.48
Net income per share – diluted	$	4.89	$	5.01	$	5.41

Anti-dilutive common stock equivalents	1.4		0.2		0.6

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 fiscal years ended September 27, 2019, September 28, 2018, and September 29, 2017, 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.