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Earnings Per Share
 6 Months Ended
Jan. 01, 2017
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

 

 

Six Months Ended

 

In thousands, except per share amounts

 

January 1,

 

January 3,

 

January 1,

 

January 3,

 



 

2017

 

2016

 

2017

 

2016

 

Net income available to shareholders

 

$

 123,986 

 

$

 121,532 

 

$

 239,108 

 

$

 233,579 

 

Basic shares:

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares outstanding – Basic

 

 

 245,804 

 

 

 244,591 

 

 

 245,561 

 

 

 244,831 

 

Basic earnings per share

 

$

 0.50 

 

$

 0.50 

 

$

 0.97 

 

$

 0.95 

 

Diluted shares:

 

 

 

 

 

 

 

 

 

 

 

 

 

Dilutive effect of equity plans

 

 

 476 

 

 

 289 

 

 

 465 

 

 

 347 

 

Weighted-average shares outstanding – Diluted

 

 

 246,280 

 

 

 244,880 

 

 

 246,026 

 

 

 245,178 

 

Diluted earnings per share

 

$

 0.50 

 

$

 0.50 

 

$

 0.97 

 

$

 0.95