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Earnings Per Share | 6 Months Ended
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Jun. 15, 2013
Earnings Per Share [Abstract] |
Earnings Per Share |
3. | EARNINGS PER SHARE
The Company calculates earnings per share in accordance with FASB Accounting Standards Codification (“ASC”) Topic 260, Earnings Per Share (“ASC 260”). ASC 260 addresses whether instruments granted in share-based payment transactions are participating securities prior to vesting, and, therefore, need to be included in the earnings allocation in computing earnings per share under the two-class method. Under the guidance in ASC 260, the Company’s unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, are participating securities and must be included in the computation of earnings per share pursuant to the two-class method. The following table sets forth the computation of basic and diluted earnings per share:
(In millions, except share and per share data) |  | 12 Weeks Ended |  |  | 24 weeks Ended |
|  | June 15, 2013 |  |  | June 16, 2012 |  |  | June 15, 2013 |  |  | June 16, 2012 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net earnings attributable to Wolverine World Wide, Inc. |  | $ | 17.9 |  |  | $ | 20.5 |  |  | $ | 47.7 |  |  | $ | 51.7 |
Adjustment for earnings allocated to non-vested restricted common stock |  |  | (0.3 | ) |  |  | (0.3 | ) |  |  | (0.9 | ) |  |  | (0.9 | )
Net earnings used in calculating basic earnings per share |  |  | 17.6 |  |  |  | 20.2 |  |  |  | 46.8 |  |  |  | 50.8 |
Adjustment for earnings reallocated from non-vested restricted common stock |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net earnings used in calculating diluted earnings per share |  | $ | 17.6 |  |  | $ | 20.2 |  |  | $ | 46.8 |  |  | $ | 50.8 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding |  |  | 50,163,722 |  |  |  | 48,694,332 |  |  |  | 49,947,199 |  |  |  | 48,564,198 |
Adjustment for non-vested restricted common stock |  |  | (1,763,899 | ) |  |  | (1,396,931 | ) |  |  | (1,612,163 | ) |  |  | (1,386,317 | )
Shares used in calculating basic earnings per share |  |  | 48,399,823 |  |  |  | 47,297,401 |  |  |  | 48,335,036 |  |  |  | 47,177,881 |
Effect of dilutive stock options |  |  | 918,174 |  |  |  | 1,123,863 |  |  |  | 868,941 |  |  |  | 1,123,286 |
Shares used in calculating diluted earnings per share |  |  | 49,317,997 |  |  |  | 48,421,264 |  |  |  | 49,203,977 |  |  |  | 48,301,167 |
Net earnings per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.36 |  |  | $ | 0.43 |  |  | $ | 0.97 |  |  | $ | 1.08 |
Diluted |  | $ | 0.36 |  |  | $ | 0.42 |  |  | $ | 0.95 |  |  | $ | 1.05 |
For the 12 and 24 weeks ended June 15, 2013, options relating to 730,735 and 687,131 shares of common stock outstanding, respectively, have not been included in the denominator for the computation of diluted earnings per share because they were anti-dilutive. For the 12 and 24 weeks ended June 16, 2012, options relating to 587,347 and 541,729 shares of common stock outstanding, respectively, have not been included in the denominator for the computation of diluted earnings per share because they were anti-dilutive.

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