Earnings per share

6 Months Ended

Dec. 28, 2013

Earnings Per Share [Abstract]

Earnings per share

Earnings per share

	Second Quarters Ended				Six Months Ended
	December 28, 2013		December 29, 2012		December 28, 2013		December 29, 2012
	(Thousands, except per share data)
Numerator:
Net income	$	124,864	$	137,481	$	245,488	$	237,786
Denominator:
Weighted average common shares for basic earnings    per share	137,702		136,776		137,558		138,772
Net effect of dilutive stock option, incentive and    performance share awards	2,442		1,799		2,376		2,195
Weighted average common shares for diluted earnings    per share	140,144		138,575		139,934		140,967
Basic earnings per share	$	0.91	$	1.01	$	1.78	$	1.71
Diluted earnings per share	$	0.89	$	0.99	$	1.75	$	1.69

For the three and six months ended December 28, 2013, none of the outstanding options were excluded from the calculation of diluted earnings per share because all of the outstanding options were dilutive. Options to purchase 238,000 and 586,000 shares were excluded for the three and six months ended December 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.