Quarterly report pursuant to Section 13 or 15(d)

Net Income (Loss) Per Share

v3.5.0.2
Net Income (Loss) Per Share
 6 Months Ended
Jun. 25, 2016
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share
Net Income (Loss) Per Share
Basic net income (loss) per share is computed based on the weighted average number of shares outstanding.
Diluted net income (loss) per share is computed based on the weighted average number of shares outstanding plus any potentially dilutive shares outstanding. Potentially dilutive shares include stock options and restricted stock units.
The following table sets forth the components of basic and diluted net income (loss) per share:
 
Three Months Ended
 
Six Months Ended
 
June 25,
2016
 
June 27,
2015
 
June 25,
2016
 
June 27,
2015
 
(In millions, except per share amounts)
Numerator – Net income (loss):
 
 
 
 
 
 
 
Numerator for basic and diluted net income (loss) per share
$
69

 
$
(181
)
 
$
(40
)
 
$
(361
)
Denominator – Weighted average shares
 
 
 
 
 
 
 
Denominator for basic net income (loss) per share
794

 
778

 
794

 
778

Effect of potentially dilutive shares:
 
 
 
 
 
 
 
Employee stock options and restricted stock units
27

 
—

 
—

 
—

Denominator for diluted net income (loss) per share
821

 
778

 
794

 
778

Net income (loss) per share:
 
 
 
 
 
 
 
Basic
$
0.09

 
$
(0.23
)
 
$
(0.05
)
 
$
(0.46
)
Diluted
$
0.08

 
$
(0.23
)
 
$
(0.05
)
 
$
(0.46
)

Potential shares from stock options and restricted stock units totaling 19 million and 51 million were not included in the net income (loss) per share calculations for the second quarters of 2016 and 2015, respectively, because their inclusion would have been anti-dilutive.
Potential shares from employee stock options and restricted stock units totaling 41 million and 63 million were not included in the net loss per share calculation for the six months ended June 25, 2016 and June 27, 2015, because their inclusion would have been anti-dilutive.