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Earnings Per Share
 3 Months Ended
Oct. 02, 2016
Earnings Per Share [Abstract]  
Earnings Per Share



2. Earnings Per Share



Basic earnings per share is calculated using the weighted average shares of common stock and unvested restricted stock awards outstanding during the period.  Diluted earnings per share is calculated using the weighted average shares of common stock outstanding and unvested restricted stock awards, plus the dilutive effect of stock options and restricted stock units calculated using the treasury stock method. The following table sets forth the reconciliation of weighted average common shares outstanding used in the computation of basic and diluted earnings per share:







 

 

 

 

 

 

 



 

 

Three Months Ended

 

In thousands, except per share amounts

 

October 2,

 

September 27,

 



 

2016

 

2015

 

Net income available to shareholders

 

$

 115,122 

 

$

 112,047 

 

Basic shares:

 

 

 

 

 

 

 

Weighted-average shares outstanding – Basic

 

 

 245,271 

 

 

 244,863 

 

Basic earnings per share

 

$

 0.47 

 

$

 0.46 

 

Diluted shares:

 

 

 

 

 

 

 

Dilutive effect of equity plans

 

 

 438 

 

 

 371 

 

Weighted-average shares outstanding – Diluted

 

 

 245,709 

 

 

 245,234 

 

Diluted earnings per share

 

$

 0.47 

 

$

 0.46