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3 - Earnings Per Share | 9 Months Ended
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Apr. 27, 2013
Notes |
3 - Earnings Per Share | 3. The Company computes net income per share using the two-class method, an earnings allocation formula that calculates basic and diluted net income per share for each class of common stock separately based on dividends declared and participation rights in undistributed earnings. Under the two-class method, our Class A common stock is assumed to receive a 54% greater participation in undistributed earnings than our Class B common stock, in accordance with the classes’ respective dividend rights. Diluted net income per share for Class A common stock is calculated utilizing the if-converted method, which assumes the conversion of all shares of Class B common stock to shares of Class A common stock on a share-for-share basis, as this method is more dilutive than the two-class method. Diluted net income per share for Class B common stock does not assume conversion of Class B common stock to shares of Class A common stock. The tables below reconcile the numerators and denominators of basic and diluted net income per share for all periods presented.
|  | April 27, 2013
|  | 13 Weeks Ended |  | 39 Weeks Ended
|  | Class A |  | Class B |  | Class A |  | Class B
Numerator: |  |  |  |  |  |  |  |
Net income allocated, basic | $ | 3,245 | $ | 1,262 | $ | 13,698 | $ | 5,394
Conversion of Class B to Class A shares |  | 1,262 |  | - |  | 5,394 |  | -
Effect of share-based compensation on allocated net income |  | 5 |  | (3) |  | - |  | -
Net income allocated, diluted | $ | 4,512 | $ | 1,259 | $ | 19,092 | $ | 5,394
Denominator: |  |  |  |  |  |  |  |
Weighted average shares outstanding, basic |  | 8,492 |  | 5,007 |  | 8,146 |  | 5,336
Conversion of Class B to Class A shares |  | 5,007 |  | - |  | 5,336 |  | -
Dilutive effect of share-based compensation |  | 96 |  | - |  | 110 |  | -
Weighted average shares outstanding, diluted |  | 13,595 |  | 5,007 |  | 13,592 |  | 5,336
|  | April 28, 2012
|  | 13 Weeks Ended |  | 39 Weeks Ended
|  | Class A |  | Class B |  | Class A |  | Class B
Numerator: |  |  |  |  |  |  |  |
Net income allocated, basic | $ | 4,016 | $ | 2,356 | $ | 13,757 | $ | 8,091
Conversion of Class B to Class A shares |  | 2,356 |  | - |  | 8,091 |  | -
Effect of share-based compensation on allocated net income |  | 16 |  | (11) |  | 67 |  | (39)
Net income allocated, diluted | $ | 6,388 | $ | 2,345 | $ | 21,915 | $ | 8,052
Denominator: |  |  |  |  |  |  |  |
Weighted average shares outstanding, basic |  | 7,044 |  | 6,362 |  | 7,030 |  | 6,366
Conversion of Class B to Class A shares |  | 6,362 |  | - |  | 6,366 |  | -
Dilutive effect of share-based compensation |  | 95 |  | - |  | 81 |  | -
Weighted average shares outstanding, diluted |  | 13,501 |  | 6,362 |  | 13,477 |  | 6,366
Outstanding stock options to purchase Class A shares of 3 and 222 were excluded from the calculation of diluted net income per share at April 27, 2013 and April 28, 2012, respectively, as a result of their anti-dilutive effect. In addition, 299 non-vested restricted Class A shares, which are considered participating securities, and their allocated net income were excluded from the diluted net income per share calculation at both April 27, 2013 and April 28, 2012, respectively, due to their anti-dilutive effect.

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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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