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Net Income Per Share
 9 Months Ended
Dec. 30, 2016
Earnings Per Share [Abstract]  
Net Income Per Share
Net Income Per Share
Basic and diluted net income per share are computed on the basis of the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share also includes the incremental effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include the dilutive effect of the shares’ underlying outstanding stock options, restricted stock, employee stock purchase plan and Convertible Senior Notes.
The components of net income per share are as follows:
 
Three Months Ended
 
Nine Months Ended
 
December 30,
2016
 
January 1,
2016
 
December 30,
2016
 
January 1,
2016
 
(In millions, except per share data)
Income (loss) from continuing operations
$
(56
)
 
$
114

 
$
(59
)
 
$
192

Income from discontinued operations, net of income taxes
102

 
56

 
96

 
251

Net income
$
46

 
$
170

 
$
37

 
$
443

Income (loss) per share - basic:
 
 
 
 
 
 
 
Continuing operations
$
(0.09
)
 
$
0.17

 
$
(0.10
)
 
$
0.28

Discontinued operations
$
0.16

 
$
0.08

 
$
0.16

 
$
0.37

Net income per share - basic
$
0.07

 
$
0.26

 
$
0.06

 
$
0.65

Income (loss) per share - diluted:
 
 
 
 
 
 
 
Continuing operations
$
(0.09
)
 
$
0.17

 
$
(0.10
)
 
$
0.28

Discontinued operations
$
0.16

 
$
0.08

 
$
0.16

 
$
0.37

Net income per share - diluted
$
0.07

 
$
0.25

 
$
0.06

 
$
0.65

 
 
 
 
 
 
 
 
Weighted-average shares outstanding - basic
620

 
665

 
618

 
677

Dilutive potential shares
—

 
6

 
—

 
6

Weighted-average shares outstanding - diluted
620

 
671

 
618

 
683


 
Note: The total amounts may not add due to rounding.
The following convertible shares, stock options and RSUs have been excluded from the computation of diluted net income per share because their effect would have been anti-dilutive:
 
As of
 
December 30,
2016
 
January 1,
2016
 
(In millions)
 
 
Convertible shares
91

 
—

Stock options
17

 
—

Restricted and performance-based restricted stock units
29

 
1

Undelivered accelerated stock repurchase shares
—

 
5

Total
137

 
6


Under the treasury stock method, the Convertible Senior Notes will generally have a dilutive impact on earnings when our average stock price for the period exceeds approximately $16.77 per share for the 2.5% Convertible Senior Notes and $20.41 per share for the 2.0% Convertible Senior Notes. During the three and nine months ended December 30, 2016, the conversion feature of both notes was anti-dilutive due to a loss from continuing operations.