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GWW » Topics » NOTE 16 - EARNINGS PER SHARE

These excerpts taken from the GWW 10-K filed Feb 27, 2008.

NOTE 16 – EARNINGS PER SHARE

 

Basic earnings per share is based on the weighted average number of shares outstanding during the year. Diluted earnings per share is based on the combination of weighted average number of shares outstanding and dilutive potential shares. The Company had additional outstanding stock options of 0.01 million, 1.36 million and 0.04 million for the years ended December 31, 2007, 2006 and 2005, respectively, that were excluded from the computation of diluted earnings per share because the options’ exercise price was greater than the average market price of the common stock.

 

The following table sets forth the computation of basic and diluted earnings per share:

 

 

For the Years Ended December 31,

 

2007

 

2006

 

2005

 

(In thousands, except for per share amounts)

Net earnings

$         420,120

 

$         383,399

 

$         346,324

 

 

 

 

 

 

Denominator for basic earnings per share – 

weighted average shares

82,404

 

87,839

 

89,569

Effect of dilutive securities – stock-based compensation

2,641

 

2,685

 

2,019

Denominator for diluted earnings per share – weighted

average shares adjusted for dilutive securities

85,045

 

90,524

 

91,588

 

 

 

 

 

 

Basic earnings per common share

$               5.10

 

$               4.36

 

$               3.87

 

 

 

 

 

 

Diluted earnings per common share

$               4.94

 

$               4.24

 

$               3.78

 

NOTE 16 – EARNINGS PER SHARE



 



Basic earnings per share is based on the weighted average number of shares outstanding during the year. Diluted earnings per share is based on the combination of weighted average number of shares outstanding and dilutive potential shares. The Company had additional outstanding stock options of 0.01 million, 1.36 million and 0.04 million for the years ended December 31, 2007, 2006 and 2005, respectively, that were excluded from the computation of diluted earnings per share because the options’ exercise price was greater than the average market price of the common stock.



 



The following table sets forth the computation of basic and diluted earnings per share:



 



















































































 

For the Years Ended December 31,

 

2007

 

2006

 

2005

 

(In thousands, except for per share amounts)

Net earnings

$         420,120

 

$         383,399

 

$         346,324

 

 

 

 

 

 

Denominator for basic earnings per share – 


weighted average shares

82,404

 

87,839

 

89,569

Effect of dilutive securities – stock-based compensation

2,641

 

2,685

 

2,019

Denominator for diluted earnings per share – weighted


average shares adjusted for dilutive securities

85,045

 

90,524

 

91,588

 

 

 

 

 

 

Basic earnings per common share

$               5.10

 

$               4.36

 

$               3.87

 

 

 

 

 

 

Diluted earnings per common share

$               4.94

 

$               4.24

 

$               3.78



 



This excerpt taken from the GWW 10-K filed Feb 27, 2007.

NOTE 15 – EARNINGS PER SHARE

 

Basic earnings per share is based on the weighted average number of shares outstanding during the year. Diluted earnings per share is based on the combination of weighted average number of shares outstanding and dilutive potential shares. The Company had additional outstanding stock options of 1.36 million, 0.04 million and 2.68 million for the years ended December 31, 2006, 2005 and 2004, respectively, that were excluded from the computation of diluted earnings per share because the options’ exercise price was greater than the average market price of the common stock.

 

The following table sets forth the computation of basic and diluted earnings per share:

 

 

For the Years Ended December 31,

 

2006

 

2005

 

2004

 

(In thousands, except

for per share amounts)

Net earnings

$       383,399

 

$       346,324

 

$       286,923

Denominator for basic earnings per share – 

weighted average shares

87,839

 

89,569

 

90,207

Effect of dilutive securities – stock-based compensation

2,685

 

2,019

 

1,466

Denominator for diluted earnings per share – 

weighted average shares adjusted for dilutive securities

90,524

 

91,588

 

91,673

Basic earnings per common share

$             4.36

 

$             3.87

 

$             3.18

Diluted earnings per common share

$             4.24

 

$             3.78

 

$             3.13

 

This excerpt taken from the GWW 10-K filed Feb 28, 2005.

NOTE 19—EARNINGS PER SHARE

Basic earnings per share is based on the weighted average number of shares outstanding during the year. Diluted earnings per share is based on the combination of weighted average number of shares outstanding and dilutive potential shares. The Company had additional outstanding stock options of 2.7 million, 3.5 million and 2.7 million for the years ended December 31, 2004, 2003 and 2002, respectively, that were excluded from the computation of diluted earnings per share because the options’ exercise price was greater than the average market price of the common stock.

 

50

The following table sets forth the computation of basic and diluted earnings per share:

For the Years Ended December 31,
2004
       2003
       2002
(In thousands of dollars,
except for per share amounts)

Earnings before cumulative effect of accounting change		     $ 286,923   $ 226,971    235,488  
  Cumulative effect of accounting change    --    --    (23,921 )
Net earnings   $ 286,923   $ 226,971    211,567  

Denominator for basic earnings per share —		  
  weighted average shares    90,207    90,731    91,982  
Effect of dilutive securities – stock-based compensation    1,466    1,663    2,321  
Denominator for diluted earnings per share —  
  weighted average shares adjusted for dilutive securities    91,673    92,394    94,303  

Basic earnings per share before cumulative		  
  effect of accounting change   $ 3.18   $ 2.50   $ 2.56
  Cumulative effect of accounting change    --    --    (0.26 )
Basic earnings per common share   $ 3.18   $ 2.50   $ 2.30

Dilutive earnings per share before cumulative		  
  effect of accounting change   $ 3.13   $ 2.46   $ 2.50
  Cumulative effect of accounting change    --    --    (0.26 )
Dilutive earnings per common share   $ 3.13   $ 2.46   $ 2.24

EXCERPTS ON THIS PAGE:

10-K (2 sections)
Feb 27, 2008
10-K
Feb 27, 2007
10-K
Feb 28, 2005

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