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Earnings Per Share
 12 Months Ended
Jun. 28, 2014
Earnings Per Share  
Earnings Per Share

 

Note 3. Earnings Per Share

        The following table sets forth the computation of basic and diluted net (loss) income per share (in millions, except per share data):

 
   Years Ended  
 
   June 28,
2014		   June 29,
2013		   June 30,
2012		  

Numerator:

                    

(Loss) income from continuing operations, net of tax

   $ (17.8 ) $ 57.0   $ (26.1 )

Loss from discontinued operations, net of tax

     —     —     (29.5 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net (loss) income

   $ (17.8 ) $ 57.0   $ (55.6 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

Denominator:

                    

Weighted-average number of common shares outstanding:

                    

Basic

     234.2     235.0     230.0  

Effect of dilutive securities from stock-based benefit plans

     —     4.3     —  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Diluted

     234.2     239.3     230.0  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

Basic net (loss) income per share from:

                    

Continuing operations

   $ (0.08 ) $ 0.24   $ (0.11 )

Discontinued operations

     —     —     (0.13 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net (loss) income

   $ (0.08 ) $ 0.24   $ (0.24 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

Diluted net (loss) income per share from:

                    

Continuing operations

   $ (0.08 ) $ 0.24   $ (0.11 )

Discontinued operations

     —     —     (0.13 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net (loss) income

   $ (0.08 ) $ 0.24   $ (0.24 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

        The following table sets forth the weighted-average potentially dilutive securities excluded from the computation of the diluted net (loss) income per share because their effect would have been anti-dilutive (in millions):

 
   Years Ended  
 
   June 28,
2014(1)(2)		   June 29,
2013(3)		   June 30,
2012(1)(3)		  

Stock options and ESPP

     4.9     2.3     9.9  

Restricted stock units

     10.1     2.2     7.7  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total potentially dilutive securities

     15.0     4.5     17.6  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               
(1)
As the Company incurred a net loss in the period, potential dilutive securities from employee stock options, ESPP and Restricted Stock Units ("RSUs") have been excluded from the diluted net loss per share computations as their effects were deemed anti-dilutive.

(2)
The Company's 0.625% Senior Convertible Notes due 2033 (the "2033 Notes") are not included in the table above. The par amount of convertible notes is payable in cash equal to the principal amount of the notes plus any accrued and unpaid interest and then the "in-the-money" conversion benefit feature at the conversion price above $18.83 per share is payable in cash, shares of the Company's common stock or a combination of both. Refer to "Note 10. Debts and Letters of Credit" for more information.

(3)
The Company's 1% Senior Convertible Notes due 2026 (the "2026 Notes") are not included in the table above. The par amount of convertible notes is payable in cash equal to the principal amount of the notes plus any accrued and unpaid interest and then the "in-the-money" conversion benefit feature at the conversion price above $30.30 per share is payable in shares of the Company's common stock or cash. As of June 29, 2013, no amounts related to the 2026 Notes were outstanding. Refer to "Note 10. Debts and Letters of Credit" for more information.