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Earnings per share
 3 Months Ended
Oct. 01, 2016
Earnings per share  
Earnings per share

11. Earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First Quarters Ended

 

 

October 1,

 

October 3,

 

 

2016

  

2015

 

 

(Thousands, except per share data)

Numerator:

 

 

 

   

 

 

Net income - continuing operations

 

$
68,586

 

$
110,988

Net income - discontinued operations

 

 
257

 

 
19,266

Net income

 

$
68,843

 

$
130,254

Denominator:

 

 

 

 

 

 

Weighted average common shares for basic earnings per share

 

 
127,531

 

 
133,783

Net effect of dilutive stock options, restricted stock units and performance share units

 

 
2,232

 

 
2,543

Weighted average common shares for diluted earnings per share

 

 
129,763

 

 
136,326

Basic earnings per share - continuing operations

 

$
0.54

 

$
0.83

Basic earnings per share - discontinued operations

 

 
0.00

 

 
0.14

Basic earnings per share

 

$
0.54

 

$
0.97

Diluted earnings per share - continuing operations

 

$
0.53

 

$
0.82

Diluted earnings per share - discontinued operations

 

 
0.00

 

 
0.14

Diluted earnings per share

 

$
0.53

 

$
0.96

Stock options excluded from earnings per share calculation due to anti-dilutive effect

 

 
674

 

 
422

 

See Note 3 and Note 8 for additional information on net income from discontinued operations and the related income tax expense associated with discontinued operations.