Earnings per share

12 Months Ended

Jul. 02, 2022

Earnings per share

Earnings per share

14. Earnings per share

	Years Ended
	July 2,		July 3,		June 27,
	2022		2021		2020
	(Thousands, except per share data)
Numerator:
Net income (loss)	$	692,379	$	193,114	$	(31,081)
Denominator:
Weighted average common shares for basic earnings per share		98,662		99,258		100,474
Net effect of dilutive stock-based compensation awards		1,157		910		—
Weighted average common shares for diluted earnings per share		99,819		100,168		100,474
Basic earnings (loss) per share	$	7.02	$	1.95	$	(0.31)
Diluted earnings (loss) per share	$	6.94	$	1.93	$	(0.31)
Stock options excluded from earnings per share calculation due to anti-dilutive effect		230		700		1,431

For the fiscal years ended June 27, 2020, the diluted net loss per share is the same as the basic net loss per share as the effect of all potential common shares would be anti-dilutive.