Computation of Earnings per Share

Year Ended

February 26,
2021

February 28,
2020

February 22,
2019

Net income

$

26.1

$

199.7

$

126.0

Adjustment for earnings attributable to participating securities

(0.6)

(3.9)

(2.5)

Net income used in calculating earnings per share

$

25.5

$

195.8

$

123.5

Weighted-average common shares outstanding including participating securities (in millions)

117.5

119.6

119.1

Adjustment for participating securities (in millions)

(2.6)

(2.3)

(2.4)

Shares used in calculating basic earnings per share (in millions)

114.9

117.3

116.7

Effect of dilutive stock-based compensation (in millions)

0.3

0.6

0.4

Shares used in calculating diluted earnings per share (in millions)

115.2

117.9

117.1

Earnings per share:

Basic

$

0.22

$

1.67

$

1.06

Diluted

$

0.22

$

1.66

$

1.05

Total common shares outstanding at period end (in millions)

114.9

117.2

116.8

Anti-dilutive performance units excluded from the computation of diluted earnings per share (in millions)

—

0.2