Earnings (Loss) Per Share

12 Months Ended

Oct. 01, 2011

Earnings (Loss) Per Share [Abstract]

Earnings (Loss) Per Share

NOTE 10: EARNINGS (LOSS) PER SHARE

The earnings and weighted average common shares used in the computation of basic and diluted earnings (loss) per share are as follows:

	in millions, except per share data
	2011		2010		2009
Numerator:
Income (loss) from continuing operations		$733		$765		$(550)
Less: Net loss attributable to noncontrolling interest		(17)		(15)		(4)
Income (loss) from continuing operations attributable to Tyson		750		780		(546)
Less Dividends:
Class A ($0.16/share)		49		49		50
Class B ($0.144/share)		10		10		10
Undistributed earnings (losses)		$691		$721		$(606)
Class A undistributed earnings (losses)		$572		$597		$(501)
Class B undistributed earnings (losses)		119		124		(105)
Total undistributed earnings (losses)		$691		$721		$(606)
Denominator:
Denominator for basic earnings (loss) per share:
Class A weighted average shares		303		303		302
Class B weighted average shares, and shares under if-converted method for diluted earnings per share		70		70		70
Effect of dilutive securities:
Stock options and restricted stock		6		6		0
Convertible 2013 Notes		1		0		0
Denominator for diluted earnings (loss) per share – adjusted weighted average shares and assumed conversions		380		379		372
Net Income (Loss) Per Share from Continuing Operations Attributable to Tyson:
Class A Basic		$2.04		$2.13		$(1.49)
Class B Basic		$1.84		$1.91		$(1.35)
Diluted		$1.97		$2.06		$(1.47)
Net Income (Loss) Per Share Attributable to Tyson:
Class A Basic		$2.04		$2.13		$(1.49)
Class B Basic		$1.84		$1.91		$(1.35)
Diluted		$1.97		$2.06		$(1.47)

Approximately 4 million, 5 million and 24 million in fiscal years 2011, 2010 and 2009, respectively, of our stock-based compensation shares were antidilutive and were not included in the dilutive earnings per share calculation.

We have two classes of capital stock, Class A stock and Class B stock. Cash dividends cannot be paid to holders of Class B stock unless they are simultaneously paid to holders of Class A stock. The per share amount of cash dividends paid to holders of Class B stock cannot exceed 90% of the cash dividends paid to holders of Class A stock.

We allocate undistributed earnings (losses) based upon a 1 to 0.9 ratio per share to Class A stock and Class B stock, respectively. We allocate undistributed earnings (losses) based on this ratio due to historical dividend patterns, voting control of Class B shareholders and contractual limitations of dividends to Class B stock.