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Earnings Per Common Share
 12 Months Ended
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.