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Earnings Per Common Share
 12 Months Ended
Mar. 30, 2013
Earnings Per Common Share [Abstract]  
Earnings Per Common Share

NOTE 11 – EARNINGS PER COMMON SHARE

 

The following is a reconciliation of basic and diluted earnings per common share for the respective years:

    Year Ended Fiscal March
    2013  2012  2011
   (Amounts in thousands, except per share data)
     
Numerator for earnings per common share calculation:        
 Net Income$ 42,567 $ 54,612 $ 45,841
 Less: Preferred stock dividends  (304)   (266)   (213)
 Income available to common stockholders$ 42,263 $ 54,346 $ 45,628
           
Denominator for earnings per common share calculation:        
 Weighted average common shares, basic  31,067   30,716   30,200
 Effect of dilutive securities:        
  Preferred stock  760   760   760
  Stock options   481   761   847
 Weighted average common shares, diluted  32,308   32,237   31,807
           
Basic earnings per common share:$ 1.36 $ 1.77 $ 1.52
           
Diluted earnings per common share:$ 1.32 $ 1.69 $ 1.44

The computation of diluted earnings per common share for fiscal 2013, 2012 and 2011 excludes the effect of assumed exercise of approximately 955,000, 682,000 and 705,000 of stock options, respectively, as the exercise price of these options was greater than the average market value of Monro's Common Stock for those periods, resulting in an anti-dilutive effect on diluted earnings per share.