XML 24 R13.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Net Income Per Share | 9 Months Ended
--- | ---
May 27, 2017
Earnings Per Share [Abstract] |
Net Income Per Share | Net Income Per Share The Company calculates net income per share in accordance with US GAAP, which requires the Company to allocate income to its unvested participating securities as part of its earnings per share (“EPS”) calculations. The following table sets forth the computation of basic earnings per share using the two-class method for amounts attributable to the Company’s shares of Common Stock and Class B Common Stock (in thousands, except per share data):
|  | Thirteen weeks ended |  | Thirty-nine weeks ended
|  | May 27, 2017 |  | May 28, 2016 |  | May 27, 2017 |  | May 28, 2016
Net income available to shareholders |  | $ | 24,362 |  |  | $ | 30,144 |  |  | $ | 75,092 |  |  | $ | 89,532 |
Allocation of net income for Basic: |  |  |  |  |  |  |  |
Common Stock |  | $ | 19,307 |  |  | $ | 23,939 |  |  | $ | 59,486 |  |  | $ | 71,172 |
Class B Common Stock |  | 4,883 |  |  | 6,061 |  |  | 15,068 |  |  | 17,956 |
Unvested participating shares |  | 172 |  |  | 144 |  |  | 538 |  |  | 404 |
|  | $ | 24,362 |  |  | $ | 30,144 |  |  | $ | 75,092 |  |  | $ | 89,532 |
Weighted average number of shares for Basic: |  |  |  |  |  |  |  |
Common Stock |  | 15,326 |  |  | 15,253 |  |  | 15,305 |  |  | 15,238 |
Class B Common Stock |  | 4,846 |  |  | 4,827 |  |  | 4,846 |  |  | 4,805 |
Unvested participating shares |  | 136 |  |  | 97 |  |  | 139 |  |  | 96 |
|  | 20,308 |  |  | 20,177 |  |  | 20,290 |  |  | 20,139 |
Earnings per share for Basic: |  |  |  |  |  |  |  |
Common Stock |  | $ | 1.26 |  |  | $ | 1.57 |  |  | $ | 3.89 |  |  | $ | 4.67 |
Class B Common Stock |  | $ | 1.01 |  |  | $ | 1.26 |  |  | $ | 3.11 |  |  | $ | 3.74 |
The Company is required to calculate diluted EPS for Common Stock using the more dilutive of the following two methods:
• | The treasury stock method; or
• | The two-class method assuming a participating security is not exercised or converted.
For the thirteen and thirty-nine weeks ended May 27, 2017, the Company’s diluted EPS assumes the conversion of all vested Class B Common Stock into Common Stock and uses the two-class method for its unvested participating shares. The following table sets forth the computation of diluted earnings per share of Common Stock for the thirteen and thirty-nine weeks ended May 27, 2017 (in thousands, except per share data):
|  | Thirteen weeks ended May 27, 2017 |  | Thirty-nine weeks ended May 27, 2017
|  | Earnings to Common shareholders |  | Common Shares |  | EPS |  | Earnings to Common shareholders |  | Common Shares |  | EPS
As reported - Basic |  | $ | 19,307 |  |  | 15,326 |  |  | $ | 1.26 |  |  | $ | 59,486 |  |  | 15,305 |  |  | $ | 3.89 |
Add: effect of dilutive potential common shares |  |  |  |  |  |  |  |  |  |  |  |
Share-Based Awards |  | — |  |  | 107 |  |  |  |  |  | — |  |  | 103 |  |  |  |
Class B Common Stock |  | 4,883 |  |  | 4,846 |  |  |  |  |  | 15,068 |  |  | 4,846 |  |  |  |
Add: Undistributed earnings allocated to unvested participating shares |  | 166 |  |  | — |  |  |  |  |  | 523 |  |  | — |  |  |  |
Less: Undistributed earnings reallocated to unvested participating shares |  | (157 | ) |  | — |  |  |  |  |  | (496 | ) |  | — |  |  |  |
Diluted EPS – Common Stock |  | $ | 24,199 |  |  | 20,279 |  |  | $ | 1.19 |  |  | $ | 74,581 |  |  | 20,254 |  |  | $ | 3.68 |
Share-based awards that would result in the issuance of 12,293 shares of Common Stock were excluded from the calculation of diluted earnings per share for the thirteen weeks ended May 27, 2017 because they were anti-dilutive. There were 6 share-based awards that were excluded from the calculation of diluted earnings per share for the thirty-nine weeks ended May 27, 2017 because they were anti-dilutive. For the thirteen and thirty-nine weeks ended May 28, 2016, the Company’s diluted EPS assumes the conversion of all vested Class B Common Stock into Common Stock and uses the two-class method for its unvested participating shares as it was the more dilutive of the two methods. The following table sets forth the computation of diluted earnings per share of Common Stock for the thirteen and thirty-nine weeks ended May 28, 2016 (in thousands, except per share data):
|  | Thirteen weeks ended May 28, 2016 |  | Thirty-nine weeks ended May 28, 2016
|  | Earnings to Common shareholders |  | Common Shares |  | EPS |  | Earnings to Common shareholders |  | Common Shares |  | EPS
As reported - Basic |  | $ | 23,939 |  |  | 15,253 |  |  | $ | 1.57 |  |  | $ | 71,172 |  |  | 15,238 |  |  | $ | 4.67 |
Add: effect of dilutive potential common shares |  |  |  |  |  |  |  |  |  |  |  |
Share-based awards |  | — |  |  | 103 |  |  |  |  |  | — |  |  | 98 |  |  |  |
Class B Common Stock |  | 6,061 |  |  | 4,827 |  |  |  |  |  | 17,956 |  |  | 4,805 |  |  |  |
Add: Undistributed earnings allocated to unvested participating shares |  | 141 |  |  | — |  |  |  |  |  | 395 |  |  | — |  |  |  |
Less: Undistributed earnings reallocated to unvested participating shares |  | (134 | ) |  | — |  |  |  |  |  | (374 | ) |  | — |  |  |  |
Diluted EPS – Common Stock |  | $ | 30,007 |  |  | 20,183 |  |  | $ | 1.49 |  |  | $ | 89,149 |  |  | 20,141 |  |  | $ | 4.43 |
Share-based awards that would result in the issuance of 14,959 shares of Common Stock were excluded from the calculation of diluted earnings per share for the thirteen weeks ended May 28, 2016 because they were anti-dilutive. Share-based awards that would result in the issuance of 6,716 shares of Common Stock were excluded from the calculation of diluted earnings per share for the thirty-nine weeks ended May 28, 2016 because they were anti-dilutive.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration