XML 117 R10.htm IDEA: XBRL DOCUMENT v2.4.1.9
Earnings Per Share
 12 Months Ended
Oct. 26, 2014
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 plan shares) outstanding during the period. Applied’s net income has not been adjusted for any period presented for purposes of computing basic or diluted earnings per share due to the Company’s non-complex capital structure.
 
 
2014
 
2013
 
2012
 
 
 
 
 
 
 
(In millions, except per share amounts)
Numerator:
 
 
 
 
 
Net income
$
1,072

 
$
256

 
$
109

Denominator:
 
 
 
 
 
Weighted average common shares outstanding
1,215

 
1,202

 
1,266

Effect of dilutive stock options, restricted stock units and employee stock purchase plan shares
16

 
17

 
11

Denominator for diluted earnings per share
1,231

 
1,219

 
1,277

Basic earnings per share
$
0.88

 
$
0.21

 
$
0.09

Diluted earnings per share
$
0.87

 
$
0.21

 
$
0.09

Potentially dilutive securities
1

 
2

 
9



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.