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Net Income Per Share
 3 Months Ended
Mar. 27, 2015
Earnings Per Share [Abstract]  
Net Income Per Share
Net Income Per Share

A reconciliation of basic and diluted Net income per share is presented below:

 
 
Three Months Ended
(In thousands, except per share amounts)
 
March 27,
2015
 
March 28,
2014
 
 
 
 
 
Basic:
 
 
 
 
Net income
 
$
94,852

 
$
116,514

Basic weighted shares outstanding
 
301,308

 
316,552

Net income per share
 
$
0.31

 
$
0.37

 
 
 
 
 
Diluted:
 
 
 
 
Net income
 
$
94,852

 
$
116,514

 
 
 
 
 
Weighted shares outstanding
 
301,308

 
316,552

Effect of dilutive securities:
 
 
 
 
Stock options, employee stock purchase plan, and restricted stock unit shares
 
1,977

 
2,349

 
 
 
 
 
Diluted weighted shares outstanding
 
303,285

 
318,901

 
 
 
 
 
Net income per share
 
$
0.31

 
$
0.37



In applying the treasury stock method, we excluded 1.2 million and 1.9 million stock option shares and restricted stock unit (including performance-based restricted stock unit) shares for the three months ended March 27, 2015 and March 28, 2014, respectively, because their effect was anti-dilutive. While these shares have been anti-dilutive, they could be dilutive in the future.