Earnings per share

3 Months Ended

Sep. 28, 2013

Earnings Per Share [Abstract]

Earnings per share

Earnings per share

	First Quarters Ended
	September 28, 2013		September 29, 2012
	(Thousands, except per share data)
Numerator:
Net income	$	120,624	$	100,305
Denominator:
Weighted average common shares for basic earnings    per share	137,414		140,767
Net effect of dilutive stock options and performance    share awards	2,310		2,592
Weighted average common shares for diluted earnings    per share	139,724		143,359
Basic earnings per share	$	0.88	$	0.71
Diluted earnings per share	$	0.86	$	0.70

Options to purchase 417,692 and 586,000 shares were excluded from the calculation of diluted earnings per share for the three months ended September 28, 2013 and September 29, 2012, respectively, because the exercise price for those options was above the average market price of the Company’s shares for those periods and inclusion of these options in the diluted earnings per share calculation would have had an anti-dilutive effect.