Net Income Per Share

9 Months Ended

Sep. 27, 2015

Earnings Per Share [Abstract]

Net Income Per Share

Net Income per Share

The following table sets forth the computation of basic and diluted net income per share:

	Three months ended				Nine months ended
	September 27, 2015		September 28, 2014		September 27, 2015		September 28, 2014
	(In thousands, except per share amounts)
Numerator for basic net income per share:
Net income	$	133,011	$	262,661	$	253,009	$	805,555
Denominator for basic net income per share:
Weighted-average common shares outstanding	203,118		222,201		207,094		224,530
Basic net income per share	$	0.65	$	1.18	$	1.22	$	3.59
Numerator for diluted net income per share:
Net income	$	133,011	$	262,661	$	253,009	$	805,555
Denominator for diluted net income per share:
Weighted-average common shares outstanding	203,118		222,201		207,094		224,530
Incremental common shares attributable to exercise of outstanding employee stock options, SARs and ESPP (assuming proceeds would be used to purchase common stock), and RSUs	933		4,183		2,061		3,401
1.5% Notes due 2017 and 0.5% Notes due 2020	1,736		9,193		5,088		7,961
Warrants issued in conjunction with the 1.5% Notes due 2017	—		5,108		—		3,383
Shares used in computing diluted net income per share	205,787		240,685		214,243		239,275
Diluted net income per share	$	0.65	$	1.09	$	1.18	$	3.37
Anti-dilutive shares excluded from net income per share calculation	59,006		16,475		56,126		33,581

Basic earnings per share exclude any dilutive effects of stock options, SARs, RSUs, warrants and convertible debt.

Diluted earnings per share in the three and nine months endedSeptember 27, 2015 include the dilutive effects of stock options, SARs, RSUs, ESPP, the 1.5% Notes due 2017, and warrants issued in conjunction with the 1.5% Notes due 2017. Certain common stock issuable under stock options, RSUs, the 0.5% Notes due 2020, and warrants issued in conjunction with the 1.5% Notes due 2017 and 0.5% Notes due 2020, have been omitted from the three and nine months endedSeptember 27, 2015 diluted net income per share calculation because the inclusion is considered anti-dilutive. Diluted earnings per share in the three and nine months endedSeptember 28, 2014 include the dilutive effects of stock options, SARs, RSUs, ESPP, the 1.5% Notes due 2017, the 0.5% Notes due 2020 and warrants issued in conjunction with the 1.5% Notes due 2017. Certain common stock issuable under stock options, RSUs and warrants issued in conjunction with the 0.5% Notes due 2020, have been omitted from the three and nine months endedSeptember 28, 2014 diluted net income per share calculation because the inclusion is considered anti-dilutive.