Earnings Per Share

12 Months Ended

Jun. 29, 2013

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

EARNINGS PER SHARE

Basic earnings per share are computed using the weighted average number of common shares outstanding during the period. For purposes of computing basic earnings per share, the weighted average number of outstanding shares of common stock excludes unvested RSUs. Diluted earnings per share incorporates the incremental dilutive shares issuable upon the assumed exercise of stock options, assumed release of unvested RSUs and assumed issuance of common stock under the employee stock purchase plans using the treasury stock method.

The following table sets forth the computation of basic and diluted earnings per share:

	For the Year Ended
	6/29/2013		6/30/2012		6/25/2011
	(In thousands, except per share data)
Numerator for basic earnings per share and diluted earnings per share
Income from continuing operations	$	452,309	$	354,918	$	489,009
Income from discontinued operations	2,603		31,809		—
Net income	$	454,912	$	386,727	$	489,009
Denominator for basic earnings per share	291,835		292,810		296,755
Effect of dilutive securities:
Stock options, ESPP and RSUs	6,761		7,192		6,622
Denominator for diluted earnings per share	298,596		300,002		303,377
Earnings per share-basic:
From continuing operations	$	1.55	$	1.21	$	1.65
From discontinued operations	0.01		0.11		—
Basic	$	1.56	$	1.32	$	1.65
Earnings per share-diluted:
From continuing operations	$	1.51	$	1.18	$	1.61
From discontinued operations	0.01		0.11		—
Diluted	$	1.52	$	1.29	$	1.61

Approximately 10.3 million, 13.8 million, and 14.9 million of the Company's stock awards were excluded from the calculation of diluted earnings per share for fiscal years 2013, 2012 and 2011, respectively. These options were excluded, as they were antidilutive. However, such options could be dilutive in the future.