Net Income per Share

6 Months Ended

Jun. 29, 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 and six months ended June 29, 2013 and June 30, 2012 are as follows:

	Three Months Ended				Six Months Ended
	June 29, 2013		June 30, 2012		June 29, 2013		June 30, 2012
	(In thousands, except per share amounts)
Net income	$	9,429	$	36,386	$	88,038	$	67,490
Weighted average common shares used to calculate basic net income per share	277,146		269,739		276,018		268,840
2023 Notes	11		11		11		11
2015 Warrants	10,871		637		10,770		1,580
Share-based awards	6,415		4,931		6,475		6,095
Weighted average common shares used to calculate diluted net income per share	294,443		275,318		293,274		276,526
Net income per share - basic	$	0.03	$	0.13	$	0.32	$	0.25
Net income per share - diluted	$	0.03	$	0.13	$	0.30	$	0.24

The following table presents shares of Cadence’s common stock outstanding for the three and six months ended June 29, 2013, and June 30, 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		Six Months Ended
	June 29, 2013	June 30, 2012	June 29, 2013	June 30, 2012
	(In thousands)
2013 Warrants	6,830	6,830	6,830	6,830
Options to purchase shares of common stock	5,752	14,228	6,253	14,149
Non-vested shares of restricted stock	18	203	9	118
Total potential common shares excluded	12,600	21,261	13,092	21,097