Net Income per Share

3 Months Ended

Mar. 30, 2013

Earnings Per Share [Abstract]

NET INCOME PER SHARE

NET INCOME PER SHARE

Basic net income per share is computed by dividing net income during the period by the weighted average number of shares of common stock outstanding during that period, less unvested restricted stock awards. Diluted net income per share is impacted by equity instruments considered to be potential common shares, if dilutive, computed using the treasury stock method of accounting.

The calculations for basic and diluted net income per share for the three months ended March 30, 2013 and March 31, 2012 are as follows:

	Three Months Ended
	March 30, 2013		March 31, 2012
	(In thousands, except per share amounts)
Net income	$	78,609	$	31,104
Weighted average common shares used to calculate basic net income per share	274,936		267,940
2023 Notes	11		11
2015 Warrants	10,668		2,523
Share-based awards	6,536		7,259
Weighted average common shares used to calculate diluted net income per share	292,151		277,733
Net income per share - basic	$	0.29	$	0.12
Net income per share - diluted	$	0.27	$	0.11

The following table presents shares of Cadence’s common stock outstanding for the three months ended March 30, 2013, and March 31, 2012, that were excluded from the computation of diluted net income per share because the effect of including these shares in the computation of diluted net income per share would have been anti-dilutive:

	Three Months Ended
	March 30, 2013	March 31, 2012
	(In thousands)
2011 Warrants and 2013 Warrants	6,830	7,815
Options to purchase shares of common stock	6,754	14,070
Non-vested shares of restricted stock	—	33
Total potential common shares excluded	13,584	21,918