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Earnings Per Share
 9 Months Ended
Mar. 30, 2013
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
EARNINGS PER SHARE

Basic earnings per share are computed using the weighted average number of shares of common stock outstanding during the period. For purposes of computing basic earnings per share, the weighted average number of outstanding shares of common stock excludes unvested RSUs. Diluted earnings per share incorporates the incremental shares issuable upon the assumed exercise of stock options, assumed release of unvested RSUs and assumed issuance of common stock under the employee stock purchase plans using the treasury stock method.














The following table sets forth the computation of basic and diluted earnings per share.

 
Three Months Ended
 
Nine Months Ended
 
March 30,
2013
 
March 31,
2012
 
March 30,
2013
 
March 31,
2012
 
(in thousands, except per share data)
Numerator for basic earnings per share and diluted earnings per share
 
 
 
 
 
 
 
Income from continuing operations
$
128,785

 
$
22,708

 
$
333,295

 
$
244,284

Income from discontinued operations
2,603

 
31,809

 
2,603

 
31,809

Net income
$
131,388

 
$
54,517

 
$
335,898

 
$
276,093

 
 
 
 
 
 
 
 
Denominator for basic earnings per share
292,888

 
292,276

 
292,048

 
292,829

Effect of dilutive securities:
 
 
 
 
 
 
 
Stock options, ESPP and RSUs
7,194

 
7,945

 
6,773

 
7,284

Denominator for diluted earnings per share
300,082

 
300,221

 
298,821

 
300,113

 
 
 
 
 
 
 
 
Earnings per share: basic
 
 
 
 
 
 
 
From continuing operations
$
0.44

 
$
0.08

 
$
1.14

 
$
0.83

From discontinued operations
0.01

 
0.11

 
0.01

 
0.11

Basic
$
0.45

 
$
0.19

 
$
1.15

 
$
0.94

 
 
 
 
 
 
 
 
Earnings per share: diluted
 
 
 
 
 
 
 
From continuing operations
$
0.43

 
$
0.07

 
$
1.11

 
$
0.81

From discontinued operations
0.01

 
0.11

 
0.01

 
0.11

Diluted
$
0.44

 
$
0.18

 
$
1.12

 
$
0.92


Approximately 9.0 million and 12.2 million stock options were excluded from the calculation of diluted earnings per share for the three months ended March 30, 2013 and March 31, 2012, respectively. Approximately 10.6 million and 14.1 million stock options were excluded from the calculation of diluted earnings per share for the nine months ended March 30, 2013 and March 31, 2012, respectively. These options were excluded because they were determined to be antidilutive. However, such options could be dilutive in the future and, under those circumstances, would be included in the calculation of diluted earnings per share.