Net Income (Loss) Per Share

12 Months Ended

Mar. 29, 2024

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. Dilutive potentially issuable common shares include the dilutive effect of the shares underlying convertible debt and employee equity awards. Our remaining convertible debt was extinguished on August 15, 2022.

The components of basic and diluted net income (loss) per share are as follows:


	Year Ended
(In millions, except per share amounts)	March 29, 2024		March 31, 2023		April 1, 2022
Net income (loss)	$	616	$	1,349	$	836

Net income per share - basic	$	0.97	$	2.20	$	1.44
Net income per share - diluted	$	0.96	$	2.16	$	1.41

Weighted-average shares outstanding - basic	637		614		581
Dilutive potentially issuable shares:
Convertible debt	—		6		7
Employee equity awards	5		4		3
Weighted-average shares outstanding - diluted	642		624		591

Anti-dilutive shares excluded from diluted net income (loss) per share calculation:
Employee equity awards	1		—		1