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NET INCOME (LOSS) PER SHARE
 6 Months Ended
Dec. 23, 2018
Earnings Per Share [Abstract]  
NET INCOME (LOSS) PER SHARE NET INCOME (LOSS) PER SHARE
Basic net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per share is computed using the treasury stock method, for dilutive stock options, restricted stock units, convertible notes, and warrants. Dilutive shares outstanding include the effect of the convertible notes. Refer to Note 12 - Long-term Debt and Other Borrowings for additional information regarding the Company’s convertible notes. The following table reconciles the numerators and denominators of the basic and diluted computations for net income (loss) per share. 
 
Three Months Ended
 
Six Months Ended
 
December 23,
2018
 
December 24, 2017
 
December 23, 2018
 
December 24, 2017
 
(in thousands, except per share data)
Numerator:
 
 
 
 
 
 
 
Net income (loss)
$
568,855

 
$
(9,955
)
 
$
1,102,215

 
$
580,735

Denominator:
 
 
 
 
 
 
 
Basic average shares outstanding
155,022

 
161,135

 
155,340

 
161,638

Effect of potential dilutive securities:
 
 
 
 
 
 
 
Employee stock plans
1,435

 
—

 
1,487

 
2,636

Convertible notes
5,713

 
—

 
5,894

 
15,287

Warrants
—

 
—

 
1,028

 
4,397

Diluted average shares outstanding
162,170

 
161,135

 
163,749

 
183,958

Net income (loss) per share - basic
$
3.67

 
$
(0.06
)
 
$
7.10

 
$
3.59

Net income (loss) per share - diluted
$
3.51

 
$
(0.06
)
 
$
6.73

 
$
3.16



For purposes of computing diluted net income (loss) per share, weighted-average common shares do not include potentially dilutive securities that are anti-dilutive under the treasury stock method. The following potentially dilutive securities were excluded:
 
Three Months Ended
 
Six Months Ended
 
December 23,
2018
 
December 24,
2017
 
December 23, 2018
 
December 24, 2017
 
(in thousands)
Options and RSUs
227

 
7

 
890

 
20

Employee stock plans
—

 
2,757

 
—

 
—

Convertible notes
—

 
15,423

 
—

 
—

Warrants
—

 
4,721

 
—

 
—


Diluted shares outstanding do not include any effect resulting from note hedges associated with the Company’s 2018 Notes as their impact would have been anti-dilutive.