Earnings Per Share

9 Months Ended

Nov. 26, 2021

EARNINGS PER SHARE

Earnings per share is computed using the two-class method. The two-class method determines earnings per share for each class of common stock and participating securities according to dividends or dividend equivalents and their respective participation rights in undistributed earnings. Participating securities represent restricted stock units in which the participants have non-forfeitable rights to dividend equivalents during the performance period. Diluted earnings per share includes the effects of certain performance units in which the participants have forfeitable rights to dividend equivalents during the performance period.


Computation of Earnings Per Share	Three Months Ended November 26, 2021						Three Months Ended November 27, 2020
	Net Income		Basic Shares (in millions)		Diluted Shares (in millions)		Net Income		Basic Shares (in millions)		Diluted Shares (in millions)
Amounts used in calculating earnings per share	$	9.6	116.0		116.3		$	2.1	117.7		118.0
Impact of participating securities	(0.3)		(3.2)		(3.2)		—		(2.9)		(2.9)
Amounts used in calculating earnings per share, excluding participating securities	$	9.3	112.8		113.1		$	2.1	114.8		115.1

Earnings per share			$	0.08	$	0.08			$	0.02	$	0.02

There were no anti-dilutive performance units excluded from the computation of diluted earnings per share for the three months ended November 26, 2021 and November 27, 2020.


Computation of Earnings Per Share	Nine Months Ended November 26, 2021						Nine Months Ended November 27, 2020
	Net Income		Basic Shares (in millions)		Diluted Shares (in millions)		Net Income		Basic Shares (in millions)		Diluted Shares (in millions)
Amounts used in calculating earnings per share	$	6.2	117.4		117.8		$	19.5	117.4		117.7
Impact of participating securities	(0.2)		(3.0)		(3.0)		(0.4)		(2.5)		(2.5)
Amounts used in calculating earnings per share, excluding participating securities	$	6.0	114.4		114.8		$	19.1	114.9		115.2

Earnings per share			$	0.05	$	0.05			$	0.17	$	0.17

There were no anti-dilutive performance units excluded from the computation of diluted earnings per share for the nine months ended November 26, 2021 and November 27, 2020.