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Table of Contents
SEAGATE TECHNOLOGY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
—
(
Continued)
Net Income Per Share
In accordance with SFAS No. 128,
Earnings per Share
(SFAS No. 128), the following table sets forth the computation of basic and diluted
net income per share:
The following potential common shares were excluded from the computation of diluted net income per share as their effect would have
been anti-dilutive:
82
Fiscal Years Ended
June 27,
2008
June 29,
2007
June 30,
2006
(In millions, except
per share data)
Numerator:
Net income
$
1,262
$
913
$
840
Adjustment for interest expense on 6.8% convertible senior notes due April
2010
9
—
—
Net income, as adjusted
$
1,271
$
913
$
840
Denominator:
Weighted
-
average common shares outstanding
514
560
496
Weighted
-
average nonvested shares
(2
)
(2
)
(1
)
Total shares for purpose of calculating basic net income per share
512
558
495
Weighted
-
average effect of dilutive securities:
Dilution from employee stock options
17
24
28
2.375% convertible senior notes due August 2012
5
5
1
6.8% convertible senior notes due April 2010
4
—
—
Potential dilutive shares
26
29
29
Total shares for purpose of calculating diluted net income per share
538
587
524
Net Income per share:
Basic net income per share
$
2.46
$
1.64
$
1.70
Diluted net income per share
$
2.36
$
1.56
$
1.60
Fiscal Years Ended
June 27,
2008
June 29,
2007
June 30,
2006
(In millions)
Stock options
23
20
17
Nonvested shares
—
—
1
6.8% convertible senior notes due April 2010
—
4
1