Net Income Per Share

12 Months Ended

Sep. 01, 2012

Net Income Per Share [Abstract]

Net Income Per Share

4. NET INCOME PER SHARE

In June 2008, the FASB issued amendments to Accounting Standards Codification ("ASC") Topic 260, "Earnings Per Share" ("ASC 260"), which the Company adopted at the beginning of its 2010 fiscal year. The Company's non-vested restricted share awards contain non-forfeitable rights to dividends and meet the criteria of a participating security as defined by ASC 260. 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 stock shares and participating securities based on their respective weighted average shares outstanding for the period. Prior period net income per share data presented has been adjusted retrospectively.

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 1, 2012, August 27, 2011and August 28, 2010, respectively:

	For the Fiscal Years Ended
	September 1, 2012 (53 weeks)			August 27, 2011 (52 weeks)			August 28, 2010 (52 weeks)
Net income as reported	$	259,031		$	218,786		$	150,373
Less: Distributed net income available to participating securities		(351	)		(932	)		(411	)
Less: Undistributed net income available to participating securities		(1,758	)		(948	)		(960	)
Numerator for basic net income per share:
Undistributed and distributed net income available to common shareholders	$	256,922		$	216,906		$	149,002
Add: Undistributed net income allocated to participating securities		1,758			948			960
Less: Undistributed net income reallocated to participating securities		(1,748	)		(942	)		(953	)
Numerator for diluted net income per share:
Undistributed and distributed net income available to common shareholders	$	256,932		$	216,912		$	149,009
Denominator:
Weighted average shares outstanding for basic net income per share		62,434			62,902			62,438
Effect of dilutive securities		369			422			492
Weighted average shares outstanding for diluted net income per share.		62,803			63,324			62,930
Net income per share Two-Class Method:
Basic	$	4.12		$	3.45		$	2.39
Diluted	$	4.09		$	3.43		$	2.37

Antidilutive stock options (5 shares at August 27, 2011) were not included in the computation of diluted earnings per share.