Net Income Per Common Share

9 Months Ended

Dec. 28, 2019

The computation of basic net income per common share for all periods presented is derived from information on the condensed consolidated statements of income, and there are no reconciling items in the numerator used to compute the diluted net income per common share. The following table summarizes the computation of basic and diluted net income per common share:



	Three Months Ended				Nine Months Ended
(In thousands, except per share amounts)	December 28, 2019		December 29, 2018		December 28, 2019		December 29, 2018
Net income available to common stockholders	$	162,012	$	239,360	$	630,463	$	645,109
Weighted average common shares outstanding-basic	250,546		253,060		252,330		252,634
Dilutive effect of employee equity incentive plans	2,262		3,314		3,428		2,593
Weighted average common shares outstanding-diluted	252,808		256,374		255,758		255,227
Basic net income per common share	$	0.65	$	0.95	$	2.50	$	2.55
Diluted net income per common share	$	0.64	$	0.93	$	2.47	$	2.53

The total shares used in the denominator of the diluted net income per common share calculation include potentially dilutive common equivalent shares outstanding that are not included in basic net income per common share calculation. The diluted shares were calculated by applying the treasury stock method to the impact of the equity incentive plans.

Certain shares of outstanding stock options and RSUs were excluded from diluted net income per common share calculation by applying the treasury stock method, as their inclusion would have been anti-dilutive. These excluded options and RSUs were immaterial for the third quarter and the first nine months of fiscal 2020, but could be dilutive in the future if the Company’s average share price increases and is greater than the combined exercise prices and the unamortized fair values of these options and RSUs.