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 and other awards as well as MSUs. Diluted earnings 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 per share:



	For the Year Ended
	June 29, 2019		June 30, 2018		June 24, 2017
	(in thousands, except per share data)
Numerator for basic earnings per share and diluted earnings per share
Net income	$	827,486	$	467,318	$	571,613

Denominator for basic earnings per share	274,966		280,979		283,147
Effect of dilutive securities:
Stock options, ESPP, RSUs and MSUs	3,811		4,695		4,827
Denominator for diluted earnings per share	278,777		285,674		287,974

Earnings per share:
Basic	$	3.01	$	1.66	$	2.02
Diluted	$	2.97	$	1.64	$	1.98

For the fiscal years ended June 29, 2019, June 30, 2018 and June 24, 2017 no stock options were excluded from the calculation of diluted earnings per share.