Net Income Per Share

3 Months Ended

Jul. 29, 2011

Net Income Per Share

Net Income Per Share

13. Net Income per Share

The following is a calculation of basic and diluted net income per share for the periods presented (in millions):

	Three Months Ended
	July 29, 2011		July 30, 2010
Numerator:
Net Income	$	139.5	$	150.7
Denominator:
Shares used in basic computation (weighted average common shares outstanding)		370.3		352.4
Dilutive potential shares related to employee equity award plans		11.8		15.5
Dilutive impact of assumed conversion of Notes		15.4		6.4
Dilutive impact of warrants		8.0		0.0
Shares used in diluted computation		405.5		374.3
Net Income per Share:
Basic	$	0.38	$	0.43
Diluted	$	0.34	$	0.40

The following potential weighted average common shares have been excluded from the diluted net income per share calculations, as their effect would have been anti-dilutive (in millions):

	Three Months Ended
	July 29, 2011		July 30, 2010
Options and RSUs		3.6		5.3

Dilutive shares outstanding for the three month period ended July 30, 2010 do not include any effect resulting from warrants, as their impact would have been anti-dilutive. The Note hedges (as described in Note 9) are not included for purposes of calculating earnings per share as their effect would have been anti-dilutive. The Note hedges, if exercised upon conversion of the Notes, are expected to reduce approximately 80% of the dilutive effect of the Notes when our stock price is above $31.85 per share.