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Earnings Per Share (Tables)
 6 Months Ended
Dec. 27, 2014
Earnings Per Share  
Schedule of computation of basic and diluted net income (loss) 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

 

Six Months Ended

 

 

 

December 27,

 

December 28,

 

December 27,

 

December 28,

 

 

 

2014

 

2013

 

2014

 

2013

 

Numerator:

 

 

 

 

 

 

 

 

 

Net (loss) income

 

$
(25.1

)

$
8.8

 

$
(34.8

)

$
9.1

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

Weighted-average number of common shares outstanding

 

 

 

 

 

 

 

 

 

Basic

 
232.1

 
233.0

 
231.5

 
234.2

 

Effect of dilutive securities from stock-based benefit plans

 

—

 
2.8

 

—

 
3.6

 

Diluted

 
232.1

 
235.8

 
231.5

 
237.8

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income per share from:

 

 

 

 

 

 

 

 

 

Basic

 

$
(0.11

)

$
0.04

 

$
(0.15

)

$
0.04

 

Diluted

 

$
(0.11

)

$
0.04

 

$
(0.15

)

$
0.04

 

 

Schedule of weighted average potentially dilutive securities excluded from the computation because their effect would have been anti-dilutive

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):  

 

 

Three Months Ended

 

Six Months Ended

 

 

 

December 27,

 

December 28,

 

December 27,

 

December 28,

 

 

 

2014 (1) (2)

 

2013 (2)

 

2014 (1) (2)

 

2013 (2)

 

Employee stock options and ESPP

 
3.8 

 
1.7 

 
3.8 

 
1.1 

 

RSUs

 
11.1 

 
0.4 

 
10.8 

 
1.4 

 

Total potentially dilutive securities

 
14.9 

 
2.1 

 
14.6 

 
2.5 

 

 

(1)

As the Company incurred a net loss in the period, potential dilutive securities from employee stock options, employee stock purchase plan (“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 details.