Years Ended

July 3,

June 27,

June 29,

2021

2020

2019

(Thousands, except per share data)

Numerator:

Net income (loss)

$

193,114

$

(31,081)

$

176,337

Denominator:

Weighted average common shares for basic earnings per share

99,258

100,474

109,820

Net effect of dilutive stock-based compensation awards

910

—

978

Weighted average common shares for diluted earnings per share

100,168

100,474

110,798

Basic earnings (loss) per share

$

1.95

$

(0.31)

$

1.61

Diluted earnings (loss) per share

$

1.93

$

(0.31)

$

1.59

Stock options excluded from earnings per share calculation due to anti-dilutive effect

700

1,431

410