NET INCOME PER SHARE

3 Months Ended

Sep. 29, 2024

Basic net income per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted net income per share is computed using the treasury stock method, for dilutive stock options, and restricted stock units. The following table reconciles the inputs to the basic and diluted computations for net income per share.


	Three Months Ended
		September 29, 2024		September 24, 2023
		(in thousands, except per share data)
Numerator:
Net income		$	1,116,444	$	887,398
Denominator:
Basic average shares outstanding		1,299,236		1,325,840
Effect of potential dilutive securities:
Employee stock plans		4,830		5,824


Diluted average shares outstanding		1,304,066		1,331,664
Net income per share - basic		$	0.86	$	0.67
Net income per share - diluted		$	0.86	$	0.67

For purposes of computing diluted net income per share, weighted-average common shares do not include potentially dilutive securities that are anti-dilutive under the treasury stock method. These anti-dilutive securities, including options and RSUs, were not material for the three months ended September 29, 2024 and September 24, 2023.