|
3. Earnings per Common Share
Basic earnings per common share is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings per common share is computed based on the weighted average number of shares of common stock, plus the effect of dilutive potential common shares outstanding during the period, using the treasury stock method. Dilutive potential common shares include outstanding stock options, restricted stock and warrants.
The computations for basic and diluted earnings per common share are as follows (in thousands, except per share data):
|
|
|
13 Weeks Ended |
|
39 Weeks Ended |
|
|
|
|
October 29, |
|
October 30, |
|
October 29, |
|
October 30, |
|
|
|
|
2011 |
|
2010 |
|
2011 |
|
2010 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
|
$ |
41,484 |
|
$ |
16,863 |
|
$ |
152,830 |
|
$ |
94,588 |
|
|
Weighted average common shares outstanding (for basic calculation) |
|
120,432 |
|
116,024 |
|
120,000 |
|
115,665 |
|
|
Dilutive effect of stock-based awards |
|
5,120 |
|
5,384 |
|
5,585 |
|
5,280 |
|
|
Weighted average common shares outstanding (for diluted calculation) |
|
125,552 |
|
121,408 |
|
125,585 |
|
120,945 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per common share - basic |
|
$ |
0.34 |
|
$ |
0.15 |
|
$ |
1.27 |
|
$ |
0.82 |
|
|
Earnings per common share - diluted |
|
$ |
0.33 |
|
$ |
0.14 |
|
$ |
1.22 |
|
$ |
0.78 |
|
For the 13 weeks ended October 29, 2011 and October 30, 2010, 0.6 million and 3.7 million shares, respectively, were attributable to outstanding stock-based awards that were excluded from the calculation of diluted earnings per common share because their inclusion would have been anti-dilutive. For the 39 weeks ended October 29, 2011 and October 30, 2010, 0.5 million and 4.2 million shares, respectively, were attributable to outstanding stock-based awards that were excluded from the calculation of diluted earnings per common share because their inclusion would have been anti-dilutive. |