Net Income Per Share

6 Months Ended

Oct. 28, 2011

Net Income Per Share [Abstract]

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				Six Months Ended
	October 28, 2011		October 29, 2010		October 28, 2011		October 29, 2010
Numerator:
Net income	$	165.6	$	175.4	$	305.1	$	326.1
Denominator:
Shares used in basic computation		361.5		359.1		365.9		355.8
Dilutive potential shares related to employee equity award plans		7.8		15.9		9.8		15.7
Dilutive impact of assumed conversion of Notes		6.7		12.4		11.1		9.4
Dilutive impact of warrants		0.0		4.3		4.0		2.1
Shares used in diluted computation		376.0		391.7		390.8		383.0
Net Income per Share:
Basic	$	0.46	$	0.49	$	0.83	$	0.92
Diluted	$	0.44	$	0.45	$	0.78	$	0.85

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

	Three Months Ended				Six Months Ended
	October 28, 2011		October 29, 2010		October 28, 2011		October 29, 2010
Options and RSUs		15.6		2.1		9.6		3.7

Dilutive shares outstanding during the three months ended October 28, 2011 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 in the calculation of 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.