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Earnings Per Common Share | 12 Months Ended
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Mar. 28, 2015
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
|  | 2015 |  | 2014 |  | 2013
|  | (Amounts in thousands, except per share data)
Numerator for earnings per common share calculation: |  |  |  |  |  |  |  |  |
Net Income |  | $ | 61,799 |  | $ | 54,459 |  | $ | 42,567
Less: Preferred stock dividends |  |  | (395) |  |  | (334) |  |  | (304)
Income available to common stockholders |  | $ | 61,404 |  | $ | 54,125 |  | $ | 42,263
Denominator for earnings per common share calculation: |  |  |  |  |  |  |  |  |
Weighted average common shares, basic |  |  | 31,605 |  |  | 31,394 |  |  | 31,067
Effect of dilutive securities: |  |  |  |  |  |  |  |  |
Preferred stock |  |  | 760 |  |  | 760 |  |  | 760
Stock options |  |  | 579 |  |  | 488 |  |  | 481
Weighted average common shares, diluted |  |  | 32,944 |  |  | 32,642 |  |  | 32,308
Basic earnings per common share: |  | $ | 1.94 |  | $ | 1.72 |  | $ | 1.36
Diluted earnings per common share: |  | $ | 1.88 |  | $ | 1.67 |  | $ | 1.32
The computation of diluted earnings per common share for fiscal 2015, 2014 and 2013 excludes the effect of assumed exercise of approximately 145,000, 91,000 and 955,000 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.

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