Net Income per Share

3 Months Ended

Apr. 04, 2015

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 April 4, 2015 and March 29, 2014 are as follows:

	Three Months Ended
	April 4, 2015		March 29, 2014
	(In thousands, except per share amounts)
Net income	$	36,259	$	33,070
Weighted average common shares used to calculate basic net income per share	284,523		281,615
2015 Warrants	18,910		12,576
Stock-based awards	8,414		6,843
Weighted average common shares used to calculate diluted net income per share	311,847		301,034
Net income per share - basic	$	0.13	$	0.12
Net income per share - diluted	$	0.12	$	0.11

The following table presents shares of Cadence’s common stock outstanding for the three months ended April 4, 2015 and March 29, 2014 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
	April 4, 2015	March 29, 2014
	(In thousands)
2013 Warrants*	—	1,518
Options to purchase shares of common stock	1,113	4,634
Non-vested shares of restricted stock	13	11
Total potential common shares excluded	1,126	6,163

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* These warrants expired on various dates from February 2014 through April 2014.