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Net Income (Loss) Per Share
 3 Months Ended
Jun. 30, 2017
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share
Net Income (Loss) Per Share
Basic and diluted net income (loss) per share are computed on the basis of the weighted-average number of shares of common stock outstanding during the period. In the first quarter of fiscal 2017, diluted net income (loss) 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 units (“RSUs”), performance-based restricted stock units (“PRUs”), Employee Stock Purchase Plan (“ESPP”) and convertible notes. See Note 10 for more information on our stock-based compensation.
The components of net income (loss) per share are as follows:
 
Three Months Ended
(In millions, except per share data)
June 30, 2017
 
July 1, 2016
Income (loss) from continuing operations
$
(110
)
 
$
66

Income (loss) from discontinued operations, net of income taxes
(23
)
 
69

Net income (loss)
$
(133
)
 
$
135

Income (loss) per share - basic:
 
 
 
Continuing operations
$
(0.18
)
 
$
0.11

Discontinued operations
$
(0.04
)
 
$
0.11

Net income (loss) per share - basic
$
(0.22
)
 
$
0.22

Income (loss) per share - diluted:
 
 
 
Continuing operations
$
(0.18
)
 
$
0.11

Discontinued operations
$
(0.04
)
 
$
0.11

Net income (loss) per share - diluted
$
(0.22
)
 
$
0.22

 
 
 
 
Weighted-average shares outstanding - basic
609

 
613

Dilutive potential shares
—

 
7

Weighted-average shares outstanding - diluted
609

 
620


The following have been excluded from the computation of diluted net income (loss) per share because their effect would have been anti-dilutive:
 
As of
(In millions)
June 30, 2017
 
July 1, 2016
Convertible shares
91

 
—

RSUs and PRUs
33

 
2

Stock options and ESPP
20

 
—

Total
144

 
2


Under the treasury stock method, our 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 months ended June 30, 2017, the conversion feature of both notes was anti-dilutive due to a loss from continuing operations.