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Net Income Per Share
 3 Months Ended
Dec. 03, 2016
Net Income Per Share [Abstract]  
Net Income Per Share

Note 2. 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 Accounting Standards Codification (“ASC”) Topic 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 thirteen weeks ended December 3, 2016 and November 28, 2015, respectively:







 

 

 

 

 

 



 

Thirteen Weeks Ended



 

December 3,

 

November 28,



 

2016

 

2015

Net income as reported

 

$

 54,103 

 

$

 55,029 

Less: Distributed net income available to participating securities

 

 

 (77)

 

 

 (89)

Less: Undistributed net income available to participating securities

 

 

 (114)

 

 

 (163)

Numerator for basic net income per share:

 

 

 

 

 

 

Undistributed and distributed net income available to common shareholders         

 

$

 53,912 

 

$

 54,777 

   Add: Undistributed net income allocated to participating securities

 

 

 114 

 

 

 163 

Less: Undistributed net income reallocated to participating securities

 

 

 (113)

 

 

 (162)



 

 

 

 

 

 

Numerator for diluted net income per share:

 

 

 

 

 

 

Undistributed and distributed net income available to common shareholders

 

$

 53,913 

 

$

 54,778 

Denominator:

 

 

 

 

 

 

Weighted average shares outstanding for basic net income per share

 

 

 56,381 

 

 

 61,296 

Effect of dilutive securities

 

 

 191 

 

 

 112 

Weighted average shares outstanding for diluted net income per share

 

 

 56,572 

 

 

 61,408 

Net income per share Two-class method:

 

 

 

 

 

 

Basic

 

$

 0.96 

 

$

 0.89 

Diluted

 

$

 0.95 

 

$

 0.89 



Antidilutive stock options of 606 were not included in the computation of diluted earnings per share for the thirteen-week period ended December 3, 2016. Antidilutive stock options of 1,058 were not included in the computation of diluted earnings per share for the thirteen-week period ended November 28, 2015.