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This excerpt taken from the SVU 10-K filed Apr 25, 2007. NOTE 14—EARNINGS PER SHARE Basic EPS is calculated using net earnings available to common shareholders divided by the weighted average number of common shares outstanding during the period. Diluted EPS is similar to basic EPS except that the weighted average number of common shares outstanding is after giving affect to the dilutive impacts of stock options, restricted stock awards and outstanding convertible securities. In addition, for the calculation of diluted earnings per share, net earnings is adjusted to eliminate the after tax interest expense recognized during the period related to contingently convertible debentures. Effective on August 31, 2006, in conjunction with the Company’s announcement of its intent to use cash to repurchase the contingently convertible debentures, the debentures were no longer considered dilutive for the calculation of diluted earnings per share. The following table reflects the calculation of basic and diluted earnings per share:
Options to purchase 11, 3, and 1 shares of common stock were outstanding during the 52 week period ended February 24, 2007, February 25, 2006 and February 26, 2004, respectively, but were excluded from the computation of diluted earnings per share because they were not dilutive. This excerpt taken from the SVU 10-K filed May 10, 2006. EARNINGS PER SHARE The following table reflects the calculation of basic and diluted earnings per share:
This excerpt taken from the SVU 10-K filed May 6, 2005. EARNINGS PER SHARE
The following table reflects the calculation of basic and diluted earnings per share:
In November 2004, the FASB ratified the effective date of the Emerging Issues Task Force (EITF) consensus on Issue No. 04-8, “The Effect of Contingently Convertible Instruments on Diluted Earnings per Share” to be applied to reporting periods ending after December 15, 2004. Under EITF Issue No. 04-8, net earnings and diluted shares outstanding, used for earnings per share calculations, are restated using the if-converted method of accounting to reflect the contingent issuance of 7.8 million shares under the company’s outstanding contingently convertible zero-coupon debentures which were issued in November 2001. The company adopted the provisions of EITF 04-8 in the fourth quarter of fiscal 2005 and restated prior years’ diluted earnings per share amounts. The impact of the EITF 04-8 restatement reduced diluted earnings per share by approximately $0.11, $0.06 and $0.05 in fiscal 2005, fiscal 2004 and fiscal 2003, respectively.
F-30
Index to Financial StatementsSUPERVALU INC. and Subsidiaries
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
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