EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share are computed using the weighted average number of shares of common stock outstanding during the period. For purposes of computing basic earnings (loss) per share, the weighted average number of outstanding shares of common stock excludes unvested RSUs and other awards as well as MSUs. Diluted earnings (loss) per share incorporates the incremental shares issuable upon the assumed exercise of stock options, assumed release of unvested RSUs and other awards as well as MSUs, and assumed issuance of common stock under the 2008 ESPP using the treasury stock method.

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



	Three Months Ended
	September 29, 2018		September 23, 2017
	(in thousands, except per share data)
Numerator for basic earnings (loss) per share and diluted earnings (loss) per share
Net income (loss)	$	197,423	$	154,533

Denominator for basic earnings (loss) per share	278,045		282,170
Effect of dilutive securities:
Stock options, ESPP, RSUs, and MSUs	4,409		4,267
Denominator for diluted earnings (loss) per share	282,454		286,437

Earnings (loss) per share
Basic	$	0.71	$	0.55
Diluted	$	0.70	$	0.54

For the three months ended September 29, 2018 and September 23, 2017, no stock awards were determined to be anti-dilutive and therefore none were excluded from the calculation of diluted earnings per share.