EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share are computed using the weighted average number of shares of common stock outstanding during the period. For purposes of computing basic earnings (loss) per share, the weighted average number of outstanding shares of common stock excludes unvested RSUs and other awards as well as MSUs. Diluted earnings (loss) per share incorporates the incremental shares issuable upon the assumed exercise of stock options, assumed release of unvested RSUs and other awards as well as MSUs, and assumed issuance of common stock under the 2008 ESPP using the treasury stock method.

The following table sets forth the computation of basic and diluted earnings (loss) per share:



	Three Months Ended					Six Months Ended
	December 30, 2017			December 24, 2016		December 30, 2017		December 24, 2016
	(in thousands, except per share data)
Numerator for basic earnings (loss) per share and diluted earnings (loss) per share
Net income (loss)	$	(75,015	)	$	130,477	$	79,519	$	268,091

Denominator for basic earnings (loss) per share	281,560			283,294		281,852		283,464
Effect of dilutive securities:
Stock options, ESPP, RSUs, and MSUs	—			4,812		4,503		4,900
Denominator for diluted earnings (loss) per share	281,560			288,106		286,355		288,364

Earnings (loss) per share
Basic	$	(0.27	)	$	0.46	$	0.28	$	0.95
Diluted	$	(0.27	)	$	0.45	$	0.28	$	0.93

For the three months ended December 30, 2017 and December 24, 2016, there were approximately 4.8 million and zero incremental shares, respectively, determined to be anti-dilutive and therefore excluded from the calculation of diluted earnings per share. For the six months ended December 30, 2017 and December 24, 2016, no stock awards were determined to be anti-dilutive and therefore none were excluded from the calculation of diluted earnings per share.