Net Income Per Share

6 Months Ended

Sep. 24, 2016

Net Income Per Share [Abstract]

Net Income Per Share

10.Net Income Per Share

Basic net income per share is based on the weighted effect of common shares issued and outstanding and is calculated by dividing net income by the basic weighted average shares outstanding during the period.  Diluted net income per share is calculated by dividing net income by the weighted average numberof common shares used in the basic net income per share calculation, plus the equivalent number of common shares that would be issued assuming exercise or conversion of all potentially dilutive common shares outstanding.  These potentially dilutive items consist primarily of the tax affected outstanding stock options and awards (including restricted stock units and market stock units).

The following table details the calculation of basic and diluted earnings per share for the three and six months endedSeptember 24, 2016 andSeptember 26, 2015 (in thousands, except per share amounts):

	Three Months Ended				Six Months Ended
	September 24,		September 26,		September 24,		September 26,
	2016		2015		2016		2015
Numerator:
Net income	$	78,065	$	34,880	$	93,929	$	68,234
Denominator:
Weighted average shares outstanding		62,787		63,346		62,618		63,310
Effect of dilutive securities		2,930		2,983		2,903		3,068
Weighted average diluted shares		65,717		66,329		65,521		66,378
Basic earnings per share	$	1.24	$	0.55	$	1.50	$	1.08
Diluted earnings per share	$	1.19	$	0.53	$	1.43	$	1.03

The weighted outstanding shares excluded from our diluted calculation for the three and six months ended September 24, 2016were 4 thousand and 8 thousand, respectively, as the shares were anti-dilutive.  The weighted outstanding shares excluded from our diluted calculation for the three and six months ended September 26, 2015 were 298 thousand and 279 thousand, respectively, as the shares were anti-dilutive.