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Net Income Per Share
 12 Months Ended
Mar. 31, 2017
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 include 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 shares underlying outstanding stock options, RSUs, PRUs, Employee Stock Purchase Plan (“ESPP”) and convertible notes. See Note 11 for more information on our stock-based compensation.
The components of net income per share are as follows:
 
Year Ended
(In millions, except per share data)
March 31, 2017
 
April 1, 2016
 
April 3, 2015
Income (loss) from continuing operations
$
(236
)
 
$
(821
)
 
$
109

Income from discontinued operations, net of tax
130

 
3,309

 
769

Net income (loss)
$
(106
)
 
$
2,488

 
$
878

Income (loss) per share - basic:
 
 
 
 
 
Continuing operations
$
(0.38
)
 
$
(1.23
)
 
$
0.16

Discontinued operations
$
0.21

 
$
4.94

 
$
1.12

Net income (loss) per share
$
(0.17
)
 
$
3.71

 
$
1.27

Income (loss) per share - diluted:
 
 
 
 
 
Continuing operations
$
(0.38
)
 
$
(1.23
)
 
$
0.16

Discontinued operations
$
0.21

 
$
4.94

 
$
1.10

Net income (loss) per share
$
(0.17
)
 
$
3.71

 
$
1.26

 
 
 
 
 
 
Weighted-average outstanding shares - basic
618

 
670

 
689

Dilutive potential shares from stock-based compensation
—

 
—

 
7

Weighted-average shares outstanding - diluted
618

 
670

 
696

 
Note: Net income per share amounts may not add due to rounding.
The following have been excluded from the computation of diluted net income per share because their effect would have been anti-dilutive:
 
Year Ended
(In millions)
March 31, 2017
 
April 1, 2016
 
April 3, 2015
Convertible shares
91

 
30

 
—

Restricted and performance-based restricted stock units
29

 
19

 
—

Stock options and ESPP
21

 
—

 
1

Total
141

 
49

 
1


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. The conversion feature of both notes was anti-dilutive during fiscal 2017 due to a loss from continuing operations. The conversion feature of our 2.5% Convertible Senior Notes was also anti-dilutive during fiscal 2016 due to a loss from continuing operations. See Note 8 for more information on our debt.