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Net Income Per Share
 9 Months Ended
Sep. 28, 2014
Earnings Per Share [Abstract]  
Net Income Per Share

12. Net Income Per Share

The computation of net income per share is based on the number of weighted average shares outstanding during the period. The computation of diluted net income per share includes the dilutive effect of share equivalents consisting of incremental shares deemed outstanding from the assumed exercise of options and assumed vesting of restricted stock units (“RSUs”).

A reconciliation of the numerators and denominators of the basic and diluted net income per share calculations is as follows (in thousands, except per share amounts):

 

     Thirteen Weeks Ended      Thirty-Nine Weeks Ended  
     September 28,
2014		      September 29,
2013		      September 28,
2014		      September 29,
2013		  

Basic net income per share:

            

Net income

    $ 26,065       $ 11,461       $ 89,949       $ 42,046   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average shares outstanding

      150,241         139,687         149,227         130,538   
  

 

 

     

 

 

     

 

 

     

 

 

  

Basic net income per share

    $ 0.17       $ 0.08       $ 0.60       $ 0.32   
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted net income per share:

            

Net income

    $ 26,065       $ 11,461       $ 89,949       $ 42,046   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average shares outstanding

      150,241         139,687         149,227         130,538   
  

 

 

     

 

 

     

 

 

     

 

 

  

Dilutive effect of equity-based awards:

            

Assumed exercise of options to purchase shares

      4,065         5,023         4,652         3,991   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average shares and equivalent shares outstanding

      154,306         144,710         153,879         134,529   
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted net income per share

    $ 0.17       $ 0.08       $ 0.58       $ 0.31   
  

 

 

     

 

 

     

 

 

     

 

 

  

For the thirteen weeks ended September 28, 2014 the computation of diluted net income per share does not include 1.0 million options as those options would have been antidilutive or were unvested performance-based options. For the thirteen weeks ended September 29, 2013, the computation of diluted net income per share does not include 2.6 million options, as those options would have been antidilutive or were unvested performance-based options.

 

For the thirty-nine weeks ended September 28, 2014 the computation of diluted net income per share does not include 1.0 million options as those options would have been antidilutive or were unvested performance-based options. For the thirty-nine weeks ended September 29, 2013, the computation of diluted net income per share does not include 4.5 million options, as those options would have been antidilutive or were unvested performance-based options.