Earnings Per Share
 12 Months Ended
Jun. 29, 2019
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
EARNINGS PER SHARE

Basic earnings per share are computed using the weighted average number of shares of common stock outstanding during the period. For purposes of computing basic earnings per share, the weighted average number of outstanding shares of common stock excludes unvested RSUs and other awards as well as MSUs. Diluted earnings per share incorporates the incremental shares issuable upon the assumed exercise of stock options, assumed release of unvested RSUs and other awards as well as MSUs, and assumed issuance of common stock under the 2008 ESPP using the treasury stock method.

The following table sets forth the computation of basic and diluted earnings per share:
 
For the Year Ended
 
June 29,
2019
 
June 30,
2018
 
June 24,
2017
 
(in thousands, except per share data) 
Numerator for basic earnings per share and diluted earnings per share
 

 
 

 
 

Net income
$
827,486

 
$
467,318

 
$
571,613

 
 
 
 
 
 
Denominator for basic earnings per share 
274,966

 
280,979

 
283,147

     Effect of dilutive securities:
 

 
 

 
 

          Stock options, ESPP, RSUs and MSUs
3,811

 
4,695

 
4,827

Denominator for diluted earnings per share
278,777

 
285,674

 
287,974

 
 
 
 
 
 
Earnings per share:
 

 
 

 
 

Basic
$
3.01

 
$
1.66

 
$
2.02

Diluted 
$
2.97

 
$
1.64

 
$
1.98



For the fiscal years ended June 29, 2019, June 30, 2018 and June 24, 2017 no stock options were excluded from the calculation of diluted earnings per share.