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Earnings Per Share
 9 Months Ended
Jul. 28, 2013
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
Basic earnings per share is determined using the weighted average number of common shares outstanding during the period. Diluted earnings per share is determined using the weighted average number of common shares and potential common shares (representing the dilutive effect of stock options, restricted stock units, and employee stock purchase plans shares) outstanding during the period. Net income has not been adjusted for any period presented for purposes of computing basic or diluted earnings per share as Applied has a non-complex capital structure.
 
 
Three Months Ended
 
Nine Months Ended
 
July 28,
2013
 
July 29,
2012
 
July 28,
2013
 
July 29,
2012
 
 
 
 
 
 
 
 
 
(In millions, except per share amounts)
Numerator:
 
 
 
 
 
 
 
Net income
$
168

 
$
218

 
$
73

 
$
624

Denominator:
 
 
 
 
 
 
 
Weighted average common shares outstanding
1,203

 
1,257

 
1,201

 
1,282

Effect of dilutive stock options, restricted stock units and employee stock purchase plan shares
17

 
11

 
17

 
10

Denominator for diluted earnings per share
1,220

 
1,268

 
1,218

 
1,292

Basic earnings per share
$
0.14

 
$
0.17

 
$
0.06

 
$
0.49

Diluted earnings per share
$
0.14

 
$
0.17

 
$
0.06

 
$
0.48

Potentially dilutive securities
1

 
11

 
1

 
12



Potentially dilutive securities attributable to outstanding stock options and restricted stock units were excluded from the calculation of diluted earnings per share because the combined exercise price, average unamortized fair value and assumed tax benefits upon the exercise of options and the vesting of restricted stock units were greater than the average market price of Applied common stock, and therefore their inclusion would have been anti-dilutive.