Earnings Per Share

3 Months Ended

Sep. 27, 2014

Earnings Per Share

Earnings Per Share

Note 3. Earnings Per Share

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

			Three Months Ended
			September 27,		September 28,
			2014		2013
Numerator:
		Net (loss) income	$	(9.7)	$	0.3
Denominator:
	Weighted-average number of common shares outstanding:
		Basic		230.8		235.3
		Effect of dilutive securities from stock-based benefit plans		-		4.3
		Diluted		230.8		239.6
Net (loss) income per share from:
		Basic	$	(0.04)	$	0.00
		Diluted	$	(0.04)	$	0.00

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

		Three Months Ended
		September 27,	September 28,
		2014 (1) (2)	2013 (2)
Stock options and employee stock purchase plan		4.0	1.5
Restricted stock units		10.4	0.5
Total potentially dilutive securities		14.4	2.0
(1)	As the Company incurred a net loss in the period, potential dilutive securities from employee stock options, employee stock purchase plan ("ESPP") and restricted stock units ("RSUs") have been excluded from the diluted net loss per share computations as their effects were deemed anti-dilutive.
(2)	The Company's 0.625% Senior Convertible Notes due 2033 (the "2033 Notes") are not included in the table above. The par amount of convertible notes is payable in cash equal to the principal amount of the notes plus any accrued and unpaid interest and then the "in-the-money" conversion benefit feature at the conversion price above $18.83 per share is payable in cash, shares of the Company's common stock or a combination of both. Refer to "Note 10. Debts and Letters of Credit" for more details.