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Earnings Per Common Share
 12 Months Ended
Mar. 29, 2014
Earnings Per Common Share [Abstract]  
Earnings Per Common Share

NOTE 10 – 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
    2014  2013  2012
   (Amounts in thousands, except per share data)
     
Numerator for earnings per common share calculation:        
 Net Income$ 54,459 $ 42,567 $ 54,612
 Less: Preferred stock dividends  (334)   (304)   (266)
 Income available to common stockholders$ 54,125 $ 42,263 $ 54,346
           
Denominator for earnings per common share calculation:        
 Weighted average common shares, basic  31,394   31,067   30,716
 Effect of dilutive securities:        
  Preferred stock  760   760   760
  Stock options   488   481   761
 Weighted average common shares, diluted  32,642   32,308   32,237
           
Basic earnings per common share:$ 1.72 $ 1.36 $ 1.77
           
Diluted earnings per common share:$ 1.67 $ 1.32 $ 1.69

The computation of diluted earnings per common share for fiscal 2014, 2013 and 2012 excludes the effect of assumed exercise of approximately 91,000, 955,000 and 682,000 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.