Quarterly report pursuant to Section 13 or 15(d)

Net Income (Loss) Per Share (Notes)

v2.4.0.8
Net Income (Loss) Per Share (Notes)
 9 Months Ended
Sep. 28, 2013
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 and shares issuable upon exercise of warrants issued by the Company to West Coast Hitech L.P., in connection with the initial GF transaction in 2009. The warrants became exercisable on July 24, 2009.
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, restricted stock units and shares issuable upon the conversion of convertible debt.
The following table sets forth the components of basic and diluted income (loss) per share:
 
 
 
Quarter Ended
 
Nine Months Ended
 
 
September 28,
2013
 
September 29,
2012
 
September 28,
2013
 
September 29,
2012
 
 
(In millions, except per share amounts)
Numerator – Net income (loss):
 
 
 
 
 
 
 
 
Numerator for basic and diluted net income (loss) per share
 
$
48

 
$
(157
)
 
$
(172
)
 
$
(710
)
Denominator – Weighted average shares
 
 
 
 
 
 
 
 
Denominator for basic net income (loss) per share
 
757

 
745

 
753

 
739

Effect of potentially dilutive shares:
 
 
 
 
 
 
 
 
Employee stock options and restricted stock units
 
7

 
—

 
—

 
—

Denominator for diluted net income (loss) per share
 
764

 
745

 
753

 
739

Net income (loss) per share:
 
 
 
 
 
 
 
 
Basic
 
$
0.06

 
$
(0.21
)
 
$
(0.23
)
 
$
(0.96
)
Diluted
 
$
0.06

 
$
(0.21
)
 
$
(0.23
)
 
$
(0.96
)

Potential shares from outstanding stock options and restricted stock awards totaling approximately 53 million were not included in the net income per share calculation for the third quarter of 2013 because their inclusion would have been anti-dilutive.
Potential shares from outstanding stock options and restricted stock awards totaling approximately 61 million were not included in the net loss per share calculation for the nine months ended September 28, 2013 because their inclusion would have been anti-dilutive.
Potential shares (i) from outstanding stock options and restricted stock awards totaling approximately 71 million and (ii) issuable under the 5.75% Convertible Senior Notes due 2012 (5.75% Notes) totaling 12 million were not included in the net loss per share calculation for the third quarter of 2012 because their inclusion would have been anti-dilutive.
Potential shares (i) from outstanding stock options and restricted stock awards totaling approximately 62 million and (ii) issuable under the 5.75% Notes totaling 20 million were not included in the net loss per share calculation for the nine months ended September 29, 2012 because their inclusion would have been anti-dilutive.