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Basic and Diluted Net Income Per Share
 6 Months Ended
Apr. 26, 2013
Earnings Per Share [Abstract]  
Basic and diluted net income per share
Basic and Diluted Net Income Per Share
Basic net income per share is computed by dividing net income attributable to the Company by the weighted-average number of shares outstanding during each period. Diluted net income per share is computed by dividing net income attributable to the Company by the weighted-average number of shares outstanding during each period, plus dilutive potential shares considered outstanding during the period.
The following table sets forth the computation of basic and diluted net income per share.
 
 
Quarter Ended
 
Six Months Ended
(in thousands, except per share data)
April 26,
2013
 
April 27,
2012
 
April 26,
2013
 
April 27,
2012
Numerator:
 
 
 
 
 
 
 
Income from continuing operations available to common shareholders
$
181,779

 
$
217,919

 
$
323,918

 
$
360,329

Loss from discontinued operations available to common shareholders
(223
)
 
(4,331
)
 
(225
)
 
(4,389
)
Net income available to common shareholders
$
181,556

 
$
213,588

 
$
323,693

 
$
355,940

Denominator:
 
 
 
 
 
 
 
Denominator for basic net income per share -
 
 
 
 
 
 
 
Weighted average shares
106,426

 
105,951

 
106,334

 
105,678

Effect of dilutive securities:
 
 
 
 
 
 
 
Stock options, restricted stock units and performance shares
987

 
1,032

 
991

 
1,190

Denominator for diluted net income per share -
 
 
 
 
 
 
 
Adjusted weighted average shares and assumed conversions
107,413

 
106,983

 
107,325

 
106,868

Basic earnings (loss) per share:
 
 
 
 
 
 
 
Continuing operations
$
1.71

 
$
2.06

 
$
3.05

 
$
3.41

Discontinued operations
—

 
(0.04
)
 
—

 
(0.04
)
Net income
$
1.71

 
$
2.02

 
$
3.05

 
$
3.37

Diluted earnings (loss) per share:
 
 
 
 
 
 
 
Continuing operations
$
1.69

 
$
2.04

 
$
3.02

 
$
3.37

Discontinued operations
—

 
(0.04
)
 
—

 
(0.04
)
Net income
$
1.69

 
$
2.00

 
$
3.02

 
$
3.33


Options to purchase a weighted average of 1.5 million and 0.9 million shares were excluded from the calculations of diluted net income per share for the quarters ended April 26, 2013 and April 27, 2012, respectively, as the effect would have been antidilutive. Options to purchase a weighted average of 1.2 million and 0.8 million shares were excluded from the calculations of diluted net income per share for the six months ended April 26, 2013 and April 27, 2012, respectively, as the effect would have been antidilutive.