XML 27 R12.htm IDEA: XBRL DOCUMENT v3.5.0.2
Net Income Per Share
 12 Months Ended
Sep. 03, 2016
Net Income Per Share [Abstract]  
Net Income Per Share

4. NET INCOME PER SHARE



The Company’s non-vested restricted stock awards contain non-forfeitable rights to dividends and meet the criteria of a participating security as defined by ASC 260, “Earnings Per Share”. Under the two-class method, net income per share is computed by dividing net income allocated to common shareholders by the weighted average number of common shares outstanding for the period.  In applying the two-class method, net income is allocated to both common shares and participating securities based on their respective weighted average shares outstanding for the period. 



The following table sets forth the computation of basic and diluted net income per common share under the two-class method for the fiscal years ended September 3, 2016,  August 29, 2015 and August 30, 2014, respectively:







 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 



 

For the Fiscal Years Ended



 

September 3,

 

August 29,

 

August 30,



 

2016

 

2015

 

2014



 

(53 weeks)

 

(52 weeks)

 

(52 weeks)



 

 

 

 

 

 

 

 

 

Net income as reported

 

$

 231,216 

 

$

 231,308 

 

$

 236,067 

Less: Distributed net income available to participating securities

 

 

 (308)

 

 

 (1,350)

 

 

 (481)

Less: Undistributed net income available to participating securities

 

 

 (601)

 

 

 —

 

 

 (1,146)



 

 

 

 

 

 

 

 

 

Numerator for basic net income per share:

 

 

 

 

 

 

 

 

 

Undistributed and distributed net income available to common shareholders         

 

$

 230,307 

 

$

 229,958 

 

$

 234,440 

Add: Undistributed net income allocated to participating securities

 

 

 601 

 

 

 —

 

 

 1,146 

Less: Undistributed net income reallocated to participating securities

 

 

 (600)

 

 

 —

 

 

 (1,140)



 

 

 

 

 

 

 

 

 

Numerator for diluted net income per share:

 

 

 

 

 

 

 

 

 

Undistributed and distributed net income available to common shareholders

 

$

 230,308 

 

$

 229,958 

 

$

 234,446 

    

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding for basic net income per share

 

 

 60,908 

 

 

 61,292 

 

 

 62,026 

Effect of dilutive securities

 

 

 168 

 

 

 195 

 

 

 313 

Weighted average shares outstanding for diluted net income per share

 

 

 61,076 

 

 

 61,487 

 

 

 62,339 



 

 

 

 

 

 

 

 

 

Net income per share Two-class method:

 

 

 

 

 

 

 

 

 

Basic

 

$

 3.78 

 

$

 3.75 

 

$

 3.78 

Diluted

 

$

 3.77 

 

$

 3.74 

 

$

 3.76 



 

 

 

 

 

 

 

 

 



Antidilutive stock options of 843 and 678 were not included in the computation of diluted earnings per share for the fiscal years ended September 3, 2016 and August 29, 2015. There were no antidilutive stock options included in the computation of diluted earnings per share for the fiscal year ended August 30, 2014.