Net Income Per Share

6 Months Ended

Jul. 03, 2011

Net Income Per Share [Abstract]

Net Income Per Share

11. Net Income Per Share

     The following table sets forth the computation of basic and diluted net income per share for the three and six months ended July 3, 2011 and July 4, 2010.

	Three months ended				Six months ended
	July 3, 2011		July 4, 2010		July 3, 2011		July 4, 2010
	(In thousands, except per share amounts)
Numerator for basic net income per share:
Net income	$	248,390	$	257,894	$	472,514	$	492,585
Denominator for basic net income per share:
Weighted average common shares outstanding		238,851		231,673		238,162		230,487
Basic net income per share	$	1.04	$	1.11	$	1.98	$	2.14
Numerator for diluted net income per share:
Net income	$	248,390	$	257,894	$	472,514	$	492,585
Interest on the 1% Notes due 2035, net of tax		—		—		—		157
Net income for diluted net income per share	$	248,390	$	257,894	$	472,514	$	492,742
Denominator for diluted net income per share:
Weighted average common shares		238,851		231,673		238,162		230,487
Incremental common shares attributable to exercise of outstanding employee stock options and SARs (assuming proceeds would be used to purchase common stock), and RSUs		5,011		8,128		5,556		7,294
Effect of dilutive 1% Notes due 2035		—		—		—		785
Shares used in computing diluted net income per share		243,862		239,801		243,718		238,566
Diluted net income per share	$	1.02	$	1.08	$	1.94	$	2.07
Anti-dilutive shares excluded from net income per share calculation		73,623		34,405		72,898		38,434

     Basic earnings per share exclude any dilutive effects of stock options, SARs, RSUs, warrants and convertible debt. Diluted earnings per share include the dilutive effects of stock options, SARs and RSUs. In addition, diluted earnings per share for the six months ended July 4, 2010 includes the dilutive effect of the Company’s 1% Convertible Notes due 2035 (“1% Notes due 2035”), which were redeemed in the first quarter of fiscal year 2010. Certain common stock issuable under stock options, SARs, warrants, the 1% Notes due 2013 and the 1.5% Notes due 2017 have been omitted from the diluted net income per share calculation because their inclusion is considered anti-dilutive.