Net Income per Share (Tables)

12 Months Ended

Jun. 30, 2019

Schedule of Numerators and Denominators of Basic and Diluted Computations for Net Income Per Share

The following table reconciles the numerators and denominators of the basic and diluted computations for net income per share.



	Year Ended
	June 30, 2019		June 24, 2018			June 25, 2017
	(in thousands, except per share data)
Numerator:
Net income	$	2,191,430	$	2,380,681		$	1,697,763
Denominator:
Basic average shares outstanding	152,478		161,643			162,222
Effect of potential dilutive securities:
Employee stock plans	1,323		2,312			2,058
Convertible notes	5,610		12,258		⁽¹⁾	16,861		⁽¹⁾
Warrants	504		4,569			2,629
Diluted average shares outstanding	159,915		180,782			183,770
Net income per share - basic	$	14.37	$	14.73		$	10.47
Net income per share - diluted	$	13.70	$	13.17		$	9.24

(1)

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.

Schedule of Potentially Dilutive Securities Excluded from EPS Calculations

The following potentially dilutive securities were excluded:



	Year Ended
	June 30, 2019	June 24, 2018	June 25, 2017
	(in thousands)
Options and RSUs	578	34	34