Net Income Per Share

12 Months Ended

Apr. 27, 2012

Net Income Per Share [Abstract]

Net Income Per Share

14. Net Income per Share

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

	Year Ended
	April 27, 2012		April 29, 2011		April 30, 2010
Numerator:
Net Income	$	605.4	$	673.1	$	400.4
Denominator:
Weighted average common shares outstanding		363.9		360.9		339.7
Weighted average common shares outstanding subject to repurchase		0.0		0.0		(0.1	)
Shares used in basic computation		363.9		360.9		339.6
Weighted average common shares outstanding subject to repurchase		0.0		0.0		0.1
Dilutive potential shares related to employee equity award plans		8.8		14.6		13.2
Dilutive impact of assumed conversion of Notes		9.4		12.7		0.3
Dilutive impact of warrants		2.2		5.5		0.0
Shares used in diluted computation		384.3		393.7		353.2
Net Income per Share:
Basic	$	1.66	$	1.87	$	1.18
Diluted	$	1.58	$	1.71	$	1.13

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):

	Year Ended
	April 27, 2012		April 29, 2011		April 30, 2010
Options and RSUs		9.9		2.6		19.3

Dilutive shares outstanding for fiscal 2010 do not include any effect resulting from warrants, as their impact would have been anti-dilutive. The Note hedges 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.