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Earnings per Share | 6 Months Ended
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Oct. 27, 2012
Earnings per Share [Abstract] |
Earnings per Share |
Note 11: | Earnings per Share
Certain share-based payment awards that entitle their holders to receive non-forfeitable dividends prior to vesting are considered participating securities. We grant restricted stock awards that contain non-forfeitable rights to dividends on unvested shares; as participating securities, the unvested shares are required to be included in the calculation of our basic earnings per common share, using the two-class method. A reconciliation of the numerators and denominators used in the computations of basic and diluted earnings per share is as follows:
|  | Second Quarter Ended |  |  | Six Months Ended |
(Unaudited, amounts in thousands) |  | 10/27/12 |  |  | 10/29/11 |  |  | 10/27/12 |  |  | 10/29/11 |
Numerator (basic and diluted): |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to La-Z-Boy Incorporated |  | $ | 6,619 |  |  | $ | 7,870 |  |  | $ | 11,017 |  |  | $ | 53,406 |
Income allocated to participating securities |  |  | (88 | ) |  |  | (150 | ) |  |  | (166 | ) |  |  | (1,026 | )
Net income available to common shareholders |  | $ | 6,531 |  |  | $ | 7,720 |  |  | $ | 10,851 |  |  | $ | 52,380 |
|  | Second Quarter Ended |  |  | Six Months Ended |
|  | 10/27/12 |  |  | 10/29/11 |  |  | 10/27/12 |  |  | 10/29/11 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic weighted average common shares outstanding |  |  | 52,356 |  |  |  | 52,055 |  |  |  | 52,274 |  |  |  | 51,999 |
Add: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contingent common shares |  |  | 366 |  |  |  | — |  |  |  | 366 |  |  |  | — |
Stock option dilution |  |  | 546 |  |  |  | 420 |  |  |  | 529 |  |  |  | 459 |
Diluted weighted average common shares outstanding |  |  | 53,268 |  |  |  | 52,475 |  |  |  | 53,169 |  |  |  | 52,458 |
There were outstanding options to purchase 0.2 million shares for the quarter and six months ended October 27, 2012, with a weighted average exercise price of $20.74, and outstanding options to purchase 1.1 million shares for the quarter and six months ended October 29, 2011, with a weighted average exercise price of $14.16. We excluded the effect of these options from the diluted share calculation since, for each period presented, the weighted average exercise price of the options was higher than the average market price, and including the options' effect would have been anti-dilutive.

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- 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 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=16381557&loc=d3e4984-109258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 40 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 + Details
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