Earnings Per Share

9 Months Ended

Mar. 31, 2012

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):

	Three Months Ended					Nine Months Ended
	March 31,			April 2,		March 31,			April 2,
	2012			2011		2012			2011
Numerator:
Net (loss) income	$	(17.4	)	$	38.6	$	(33.4	)	$	62.3
Denominator:
Weighted-average number of common shares outstanding
Basic	230.6			225.6		229.5			223.4
Effect of dilutive securities from stock-based benefit plans	—			9.8		—			7.7
Diluted	230.6			235.4		229.5			231.1
Net (loss) income per share:
Basic	$	(0.08	)	$	0.17	$	(0.15	)	$	0.28
Diluted	$	(0.08	)	$	0.16	$	(0.15	)	$	0.27

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

	Three Months Ended		Nine Months Ended
	March 31,	April 2,	March 31,	April 2,
	2012	2011	2012	2011
Stock options and ESPP	9.7	1.5	10.3	4.5
Restricted shares and stock units	7.7	—	7.8	—
Total potentially dilutive securities	17.4	1.5	18.1	4.5

The Company’s 1% Senior Convertible 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.  See “Note 10. Debt and Letters of Credit” for more details.