Net Income Per Share

6 Months Ended

Dec. 25, 2011

Net Income Per Share [Abstract]

Net Income Per Share

NOTE 11 — NET INCOME PER SHARE

Basic net income per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted net income per share is computed using the treasury stock method, for dilutive stock options and RSUs. The following table reconciles the numerators and denominators of the basic and diluted computations for net income per share.

	Three Months Ended				Six Months Ended
	December 25, 2011		December 26, 2010		December 25, 2011		December 26, 2010
	(in thousands, except per share data)
Numerator:
Net income	$	33,212	$	221,856	$	105,050	$	415,580
Denominator:
Basic average shares outstanding		119,739		123,101		121,435		123,384
Effect of potential dilutive securities:
Employee stock plans		1,134		1,685		947		1,615
Diluted average shares outstanding		120,873		124,786		122,382		124,999
Net income per share – basic	$	0.28	$	1.80	$	0.87	$	3.37
Net income per share – diluted	$	0.27	$	1.78	$	0.86	$	3.32

For purposes of computing diluted net income per share, weighted-average common shares do not include potentially dilutive securities that are anti-dilutive under the treasury stock method. The following potentially dilutive securities were excluded:

	Three Months Ended				Six Months Ended
	December 25, 2011		December 26, 2010		December 25, 2011		December 26, 2010
	(in thousands)
Number of potential dilutive securities excluded		90		54		841		76

Diluted shares outstanding do not include any effect resulting from warrants, assumed conversion of the Notes, or note hedges (as described in Note 13) as their impact would have been anti-dilutive.