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99
Summary of Stock Repurchases for fiscal years 2002, 2001, and 2000 as of November 29, 2002
Board Approval Repurchases
Date Under the Plan 2002 Average 2001 Average 2000 Average
December 1997......... From employees(2) 83 $ 35.5
5
733 $ 42.01 164 $ 60.9
8
Open market
—
—
452 35.6
4
Option exercises 8,517 29.6
0
4,726 57.7
8
7,020 34.9
6
April 1999................. Open market
—
—
—
—
—
—
Option exercises
—
—
4,687 35.2
4
—
—
March 2001............... Open market 1,899 18.5
8
—
—
—
—
Option exercises 116 28.5
8
—
—
—
—
September 2002........ Open market
—
—
—
—
—
—
Option exercises
—
—
—
—
—
—
Total shares 10,615 $ 27.63 10,598 $ 45.7
7
7,184 $ 35.5
6
Total cost $ 293,241 $ 485,115 $ 255,45
6
_______________________
(1) The remaining authorization for the ongoing stock repurchase plan is determined by subtracting repurchases from all stock
issuances, net of any canceled shares, beginning in the first quarter of fiscal 1998.
(2) The repurchases from employees represent shares canceled when surrendered in lieu of cash payments for the option
exercise price or withholding taxes due.
Note 13. Net Income Per Share
Basic net income per share is computed using the weighted average number of common shares outstanding for
the period, excluding unvested restricted stock. Diluted net income per share is based upon the weighted average
common shares outstanding for the period plus dilutive common equivalent shares, including unvested restricted
common stock, stock options using the treasury stock method, and put warrants using the reverse treasury
stock method.
Years Ended
November 29,
2002
November 30,
2001
December 1,
2000
(in thousands except per share data)
Net income.......................................................................................... $ 191,399 $ 205,644 $ 287,80
8
Shares used to compute basic net income per share (weighted
average shares outstanding during the period, excluding unvested
restricted stock) ............................................................................... 236,834 238,461 238,292
Dilutive common equivalent shares:
Unvested restricted stock ................................................................ 83 318 930
Stock options................................................................................... 6,132 10,366 16,539
Put warrants..................................................................................... 70
—
13
Shares used to compute diluted net income per share ........................ 243,119 249,145 255,774
Basic net income per share ................................................................. $ 0.81 $ 0.86 $ 1.21
Diluted net income per share .............................................................. $ 0.79 $ 0.83 $ 1.1
3
For the years ended November 29, 2002, November 30, 2001, and December 1, 2000, options to purchase
approximately 26.5 million, 17.7 million, and 12.1 million shares, respectively, of common stock with exercise
prices greater than the average fair market value of our stock for the period of $30.44, $39.57, and $56.63,
respectively, were not included in the calculation because the effect would have been antidilutive.