Quarterly report pursuant to Section 13 or 15(d)

Net Income (Loss) Per Share (Notes)

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Net Income (Loss) Per Share (Notes)
 9 Months Ended
Sep. 27, 2014
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 a warrant issued by the Company to WCH in connection with the GF transaction in 2009. On March 7, 2014, the Company issued 34,906,166 shares of common stock pursuant to the cashless exercise in full by WCH of its warrant to purchase up to 35,000,000 shares of the Company's common stock at an exercise price of $0.01 per share. As a result, the warrant is no longer outstanding. The issuance of the common stock did not have any effect on basic and dilutive earnings per share amounts because the full 35,000,000 shares of common stock issuable to WCH had already been included in the denominator for calculating basic and dilutive earnings per share for all periods presented prior to the exercise of the warrant.
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 and restricted stock units.
The following table sets forth the components of basic and diluted income (loss) per share:
 
 
Three Months Ended
 
Nine Months Ended
 
 
September 27,
2014
 
September 28,
2013
 
September 27,
2014
 
September 28,
2013
 
 
(In millions, except per share amounts)
Numerator – Net income (loss):
 
 
 
 
 
 
 
 
Numerator for basic and diluted net income (loss) per share
 
$
17

 
$
48

 
$
(39
)
 
$
(172
)
Denominator – Weighted average shares
 
 
 
 
 
 
 
 
Denominator for basic net income (loss) per share
 
770

 
757

 
765

 
753

Effect of potentially dilutive shares:
 
 
 
 
 
 
 
 
Employee stock options, restricted stock and restricted stock units
 
15

 
7

 
—

 
—

Denominator for diluted net income (loss) per share
 
785

 
764

 
765

 
753

Net income (loss) per share:
 
 
 
 
 
 
 
 
Basic
 
$
0.02

 
$
0.06

 
$
(0.05
)
 
$
(0.23
)
Diluted
 
$
0.02

 
$
0.06

 
$
(0.05
)
 
$
(0.23
)

Potential shares from employee stock options, restricted stock and restricted stock units totaling 28 million and 53 million were not included in the net income per share calculations for the quarters ended September 27, 2014 and September 28, 2013, respectively, because their inclusion would have been anti-dilutive.
Potential shares from employee stock options, restricted stock and restricted stock units totaling 46 million and 61 million were not included in the net loss per share calculations for the nine months ended September 27, 2014 and September 28, 2013, respectively, because their inclusion would have been anti-dilutive.