Net Income per Share

9 Months Ended

Jan. 25, 2013

Net Income per Share

13.  Net Income per Share

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

	Three Months Ended				Nine Months Ended
	January 25, 2013		January 27, 2012		January 25, 2013		January 27, 2012
Numerator:
Net income	$	158.1	$	119.6	$	331.5	$	424.7
Denominator:
Shares used in basic computation		359.5		360.3		362.5		364.0
Dilutive potential shares related to employee equity award plans		5.1		7.6		5.1		9.1
Dilutive impact of assumed conversion of Convertible Notes		0.1		5.8		0.5		9.3
Dilutive impact of warrants		0.0		0.0		0.0		2.7
Shares used in diluted computation		364.7		373.7		368.1		385.1
Net Income per Share:
Basic	$	0.44	$	0.33	$	0.91	$	1.17
Diluted	$	0.43	$	0.32	$	0.90	$	1.10

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				Nine Months Ended
	January 25, 2013		January 27, 2012		January 25, 2013		January 27, 2012
Employee equity award plans		15.0		13.5		16.4		10.9

Dilutive shares outstanding during the three and nine months ended January 25, 2013 and during the three months ended January 27, 2012 do not include any effect resulting from warrants, as their impact would have been anti-dilutive. The Convertible Note hedges are not included in the calculation of earnings per share for any period as their effect would have been anti-dilutive. The Convertible Note hedges, if exercised upon conversion of the Convertible Notes, are expected to reduce approximately 80% of the dilutive effect of the Convertible Notes when our stock price is above $31.85 per share.