XML 27 R9.htm IDEA: XBRL DOCUMENT v3.7.0.1
Net Income Per Share
12 Months Ended
Jun. 24, 2017
Earnings Per Share [Abstract]  
Net Income Per Share

2.

Net Income Per Share

The computation of basic and diluted net income per share for fiscal 2017, 2016, and 2015 was as follows (in millions, except per share amounts):

 

 

 

2017

 

 

2016

 

 

2015

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

48.8

 

 

$

72.2

 

 

$

110.4

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Shares, basic

 

 

34.8

 

 

 

36.6

 

 

 

36.9

 

Effect of dilutive share-based awards

 

 

0.8

 

 

 

1.3

 

 

 

2.0

 

Shares, diluted

 

 

35.6

 

 

 

37.9

 

 

 

38.9

 

Net income per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

1.40

 

 

$

1.97

 

 

$

2.99

 

Diluted

 

$

1.37

 

 

$

1.91

 

 

$

2.84

 

 

Diluted net income per share does not include the effect of potential common shares related to certain share-based awards for fiscal 2017, 2016, and 2015 as follows (in millions):

 

 

 

2017

 

 

2016

 

 

2015

 

Share-based awards

 

 

1.4

 

 

 

0.7

 

 

 

0.3

 

 

These share-based awards were not included in the computation of diluted net income per share because the proceeds received, if any, from such share-based awards combined with the average unamortized compensation costs adjusted for the hypothetical tax benefit or deficiency creditable or chargeable, respectively, to additional paid-in capital, were greater than the average market price of our common stock, and therefore, their effect would have been antidilutive.

Our basic net income per share amounts for each period presented have been computed using the weighted average number of shares of common stock outstanding.  Our diluted net income per share amounts for each period presented include the weighted average effect of potentially dilutive shares.  We used the “treasury stock” method to determine the dilutive effect of our stock options, DSUs, and MSUs.