Earnings Per Share

3 Months Ended

Sep. 30, 2023

Note 3. Earnings Per Share

The following table sets forth the computation of basic and diluted net income per share (in millions, except per share data):


	Three Months Ended
	September 30, 2023		October 1, 2022
Numerator:


Net income	$	9.8	$	32.6
Denominator:
Weighted-average shares outstanding:

Basic	222.0		226.3
Shares issuable assuming conversion of convertible notes (1)	—		1.4
Effect of dilutive securities from stock-based compensation plans	2.2		2.7
Diluted	224.2		230.4

Net income per share:


Basic	$	0.04	$	0.14


Diluted	$	0.04	$	0.14

(1) Represents the dilutive impact for the Company’s 1.75% Senior Convertible Notes due 2023 (2023 Notes), the 1.00% Senior Convertible Notes due 2024 (2024 Notes) and the 1.625% Senior Convertible Notes due 2026 (2026 Notes). As of September 30, 2023, the if-converted value is less than the outstanding principal of the 2024 and 2026 Notes, respectively, and are therefore anti-dilutive. Refer to “Note 11. Debt” for more details.

The following table sets forth the weighted-average potentially dilutive securities excluded from the computation of the diluted net income per share because their effect would have been anti-dilutive (in millions):

Three Months Ended

September 30, 2023

October 1, 2022

Restricted stock units

0.5

1.4