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Net Income Per Share
 3 Months Ended
Jun. 28, 2014
Earnings Per Share [Abstract]  
NET INCOME PER SHARE
NET INCOME PER SHARE

The following table sets forth a reconciliation of the numerators and denominators in the computation of basic and diluted net income per share (in thousands, except per share data):
 
 
Three Months Ended
 
 
June 28, 2014
 
June 29, 2013
 
Numerator:
 
 
 
 
Numerator for basic and diluted net income per share — net income available to common shareholders
$
38,647

 
$
1,561

 
Denominator:
 
 
 
 
Denominator for basic net income per share — weighted average shares
286,257

 
280,788

 
Effect of dilutive securities:
 
 
 
 
Share-based awards
8,380

 
6,317

 
Denominator for diluted net income per share — adjusted weighted average shares and assumed conversions
294,637

 
287,105

 
Basic net income per share
$
0.14

 
$
0.01

 
Diluted net income per share
$
0.13

 
$
0.01

 


In the computation of diluted net income per share for the three months ended June 28, 2014 and three months ended June 29, 2013, outstanding stock options to purchase less than 0.1 million shares and approximately 8.9 million shares, respectively, were excluded because the exercise price of the options was greater than the average market price of the underlying common stock and the effect of their inclusion would have been anti-dilutive.

The computation of diluted net income per share does not assume the conversion of the Company’s $175 million initial aggregate principal amount of convertible subordinated notes (the "2014 Notes"). The 2014 Notes became due on April 15, 2014, and the remaining principal balance of $87.5 million was paid with cash on hand (see Note 4).