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Earnings Per Share
 6 Months Ended
Apr. 26, 2015
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.
 
 
Three Months Ended
 
Six Months Ended
 
April 26,
2015
 
April 27,
2014
 
April 26,
2015
 
April 27,
2014
 
 
 
 
 
 
 
 
 
(In millions, except per share amounts)
Numerator:
 
 
 
 
 
 
 
Net income
$
364

 
$
262

 
$
712

 
$
515

Denominator:
 
 
 
 
 
 
 
Weighted average common shares outstanding
1,230

 
1,216

 
1,227

 
1,211

Effect of dilutive stock options, restricted stock units and employee stock purchase plan shares
11

 
13

 
14

 
16

Denominator for diluted earnings per share
1,241

 
1,229

 
1,241

 
1,227

Basic earnings per share
$
0.30

 
$
0.22

 
$
0.58

 
$
0.43

Diluted earnings per share
$
0.29

 
$
0.21

 
$
0.57

 
$
0.42

Potentially dilutive securities
1

 
—

 
1

 
—



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.