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