Earnings Per Share

6 Months Ended

Dec. 28, 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 shares of common stock 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 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:

	Three Months Ended				Six Months Ended
	December 28, 2013		December 29, 2012		December 28, 2013		December 29, 2012
	(in thousands, except per share data)
Numerator for basic earnings per share and diluted earnings per share
Net income	$	44,353	$	76,622	$	147,473	$	204,510
Denominator for basic earnings per share	282,664		292,075		283,659		292,143
Effect of dilutive securities:
Stock options, ESPP and RSUs	5,901		6,684		5,712		6,561
Denominator for diluted earnings per share	288,565		298,759		289,371		298,704
Earnings per share
Basic	$	0.16	$	0.26	$	0.52	$	0.70
Diluted	$	0.15	$	0.26	$	0.51	$	0.68

Approximately 10.5 million and 11.6 million stock options were excluded from the calculation of diluted earnings per share for the three months ended December 28, 2013 and December 29, 2012, respectively. Approximately 9.8 million and 11.2 million stock options were excluded from the calculation of diluted earnings per share for the six months ended December 28, 2013 and December 29, 2012, respectively. These options were excluded because they were determined to be antidilutive. However, such options could be dilutive in the future and, under those circumstances, would be included in the calculation of diluted earnings per share.