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Net Earnings Per Share
 6 Months Ended
Jul. 02, 2011
Net Earnings Per Share  
Net Earnings Per Share

NOTE 8 – NET EARNINGS PER SHARE

The table below sets forth the computation of basic and diluted net earnings per share (in thousands, except per share amounts):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Six Months Ended

 

   

July 2,
2011

 

July 3,
2010

 

July 2,
2011

 

July 3,
2010

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings

 

$

240,894

 

$

254,038

 

$

474,322

 

$

492,607

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average shares outstanding

 

 

328,618

 

 

326,924

 

 

326,941

 

 

326,113

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Employee stock options

 

 

3,843

 

 

2,389

 

 

3,684

 

 

2,570

 

Restricted stock units

 

 

172

 

 

—

 

 

130

 

 

—

 

Restricted stock awards

 

 

2

 

 

—

 

 

2

 

 

1

 

Diluted weighted average shares outstanding

 

 

332,635

 

 

329,313

 

 

330,757

 

 

328,684

 

Basic net earnings per share

 

$

0.73

 

$

0.78

 

$

1.45

 

$

1.51

 

Diluted net earnings per share

 

$

0.72

 

$

0.77

 

$

1.43

 

$

1.50

 

Approximately 6.6 million and 17.7 million  shares of common stock subject to stock options, restricted stock awards and restricted stock units were excluded from the diluted net earnings per share computation for the three months ended July 2, 2011 and July 3, 2010, respectively, because they were not dilutive. Additionally, approximately 7.0 million and 18.0 million shares of common stock subject to stock options, restricted stock awards and restricted stock units were excluded from the diluted net earnings per share computation for the six months ended July 2, 2011 and July 3, 2010, respectively, because they were not dilutive.