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Net Income Per Share
 12 Months Ended
Apr. 02, 2021
Earnings Per Share [Abstract]  
Net Income Per Share Net Income Per Share
Basic income per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted net income per share also includes the incremental effect of dilutive potentially issuable common shares outstanding during the period using the treasury stock method. Dilutive potentially issuable common shares include the dilutive effect of the shares underlying convertible debt and employee equity awards. Diluted income (loss) per share was the same as basic income (loss) per share for the year ended March 29, 2019, as there was a loss from continuing operations in the period and inclusion of potentially issuable shares was anti-dilutive.
The components of basic and diluted net income (loss) per share are as follows:
 Year Ended
(In millions, except per share amounts)April 2, 2021April 3, 2020March 29, 2019
Income (loss) from continuing operations$696 $578 $(110)
Income (loss) from discontinued operations, net of income taxes(142)3,309 141 
Net income$554 $3,887 $31 
Income (loss) per share - basic:
Continuing operations$1.18 $0.94 $(0.17)
Discontinued operations$(0.24)$5.38 $0.22 
Net income per share - basic (1)
$0.94 $6.32 $0.05 
Income (loss) per share - diluted:
Continuing operations$1.16 $0.90 $(0.17)
Discontinued operations$(0.24)$5.15 $0.22 
Net income per share - diluted (1)
$0.92 $6.05 $0.05 
Weighted-average outstanding shares - basic589 615 632 
Dilutive potentially issuable shares:
Convertible debt8 20 — 
Employee equity awards3 8 — 
Weighted-average shares outstanding - diluted600 643 632 
Anti-dilutive shares excluded from diluted net income (loss) per share calculation:
Convertible debt8 5 91 
Employee equity awards— 2 47 
Total8 7 138 
(1) Net income per share amounts may not add due to rounding.
Under the treasury stock method, our convertible debt instruments will generally have a dilutive impact on net income per share when our average stock price for the period exceeds the conversion prices for the convertible debt instruments. On February 4, 2020, a portion of the 2.5% Convertible Notes were exchanged for the New 2.5% Convertible Notes, and a portion of the 2.0% Convertible Notes were exchanged for the New 2.0% Convertible Notes. The remaining Convertible Senior Notes received conversion price adjustments. The 2.5% Convertible Notes and 2.0% Convertible Notes were fully repaid on March 10, 2020 and May 26, 2020, respectively. See Note 10 for further information on our convertible debt instruments and Note 19 for information on a convertible note purchase agreement entered into on May 13, 2021. The conversion price of each convertible debt applicable in the periods presented is as follows:
Year Ended
April 2, 2021April 3, 2020March 29, 2019
2.5% Convertible Senior Notes due April 1, 2022
N/A
$ 8.40 (1)
$16.77 
2.0% Convertible Senior Notes due August 15, 2022
N/A
$ 10.23 (1)
$20.41 
New 2.5% Convertible Senior Notes due April 1, 2022
$16.77 $16.77 N/A
New 2.0% Convertible Senior Notes due August 15, 2022
$20.41 $20.41 N/A
(1) Conversion prices of the Convertible Senior Notes prior to their full repayments.
The conversion features of the convertible debt instruments were anti-dilutive during fiscal 2019 due to a loss from continuing operations.