Net Income Per Share

Basic net income per share is based on the weighted effect of common shares issued and outstanding and is calculated by dividing net income by the basic weighted average shares outstanding during the period. Diluted net income per share is calculated by dividing net income by the weighted average number of common shares used in the basic net income per share calculation, plus the equivalent number of common shares that would be issued assuming exercise or conversion of all potentially dilutive common shares outstanding. These potentially dilutive items consist primarily of outstanding stock options and awards (including restricted stock units and market stock units).

The following table details the calculation of basic and diluted earnings per share for the three months ended June 24, 2017 and June 25, 2016 (in thousands, except per share amounts):

໿



	Three Months Ended
	June 24,		June 25,
	2017		2016
Numerator:
Net income	$	42,912	$	18,071
Denominator:
Weighted average shares outstanding	64,097		62,450
Effect of dilutive securities	3,063		3,273
Weighted average diluted shares	67,160		65,723
Basic earnings per share	$	0.67	$	0.29
Diluted earnings per share	$	0.64	$	0.27

The weighted outstanding shares excluded from our diluted calculation for the three months ended June 24, 2017 and June 25, 2016 were 218 thousand and 618 thousand, respectively, as the shares were anti-dilutive.