NET INCOME PER SHARE

9 Months Ended

Mar. 30, 2025

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				Nine Months Ended
	March 30, 2025		March 31, 2024		March 30, 2025		March 31, 2024
	(in thousands, except per share data)
Numerator:
Net income	$	1,330,667	$	965,826	$	3,638,129	$	2,807,490
Denominator:
Basic average shares outstanding	1,283,779		1,308,382		1,290,041		1,316,627
Effect of potential dilutive securities:
Employee stock plans	4,321		6,796		4,504		6,192


Diluted average shares outstanding	1,288,100		1,315,178		1,294,545		1,322,819
Net income per share - basic	$	1.04	$	0.74	$	2.82	$	2.13
Net income per share - diluted	$	1.03	$	0.73	$	2.81	$	2.12

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 and nine months ended March 30, 2025 and March 31, 2024.