EX-11.1 20 dex111.txt STATEMENT RE COMPUTATION OF PER SHARE EARNINGS Exhibit 11.1 Advance Auto Parts, Inc. Schedule of Computation of Net Earnings Per Share (in thousands, except per share amounts) Advance Holding Historical:
Twenty-Eight Week Periods Ended Fiscal Year --------------------- ------------------------------------------------------------- July 15, July 14, 1996 1997 1998 1999 2000 2000 2001 -------- -------- -------- -------- -------- -------- -------- Net Earnings $21,264 $21,287 $(2,182) $(25,326) $19,559 $ 9,425 $21,404 Basic weighted average shares: Common shares outstanding 24,288 24,288 18,606 28,269 28,296 28,295 28,285 Dilutive effect of stock options - - 154 283 315 215 475 -------- -------- -------- -------- -------- -------- -------- Diluted weighted average shares 24,288 24,288 18,760 28,552 28,611 28,510 28,760 ======== ======== ======== ======== ======== ======== ======== Basic earnings per share $ 0.88 $ 0.88 $ (0.12) $ (0.90) $ 0.69 $ 0.33 $ 0.76 ======== ======== ======== ======== ======== ======== ======== Diluted earnings per share $ 0.88 $ 0.88 $ (0.12) $ (0.89) $ 0.68 $ 0.33 $ 0.74 ======== ======== ======== ======== ======== ======== ======== Pro Forma: Advance Holding Historical Twelve Months Fiscal Year Ended Six Months Ended Ended July 14, 2001 December 30, 2000 July 14, 2001 ------------------- ----------------- ---------------- Net Earnings $28,605 $16,626 $21,404 Basic weighted average shares: Common shares outstanding 28,290 28,296 28,285 Dilutive effect of stock options 456 315 475 ------------------- ----------------- ---------------- Diluted weighted average shares 28,746 28,611 28,760 =================== ================= ================ Basic earnings per share $ 1.01 $ 0.59 $ 0.76 =================== ================= ================ Diluted earnings per share $ 1.00 $ 0.58 $ 0.74 =================== ================= ================ Discount Historical Twelve Months Fiscal Year Ended Six Months Ended Ended July 14, 2001 December 30, 2000 July 14, 2001 ------------------- ----------------- ---------------- Net Earnings $19,290 $18,773 $14,700 Basic weighted average shares: Common shares outstanding 16,704 16,698 16,707 Dilutive effect of stock options 42 - 85 ------------------- ----------------- ---------------- Diluted weighted average shares 16,746 16,698 16,792 ------------------- ----------------- ---------------- Basic earnings per share $ 1.15 $ 1.12 $ 0.88 =================== ================= ================ Diluted earnings per share $ 1.15 $ 1.12 $ 0.88 =================== ================= ================ Pro Forma Twelve Months Fiscal Year Ended Six Months Ended Ended July 14, 2001 December 30, 2000 July 14, 2001 ------------------- ----------------- ---------------- Net Earnings $43,114 $33,857 $31,223 Basic weighted average shares: Common shares outstanding 32,590 32,596 32,585 Dilutive effect of stock options 455 315 475 ------------------- ----------------- ---------------- Diluted weighted average shares 33,045 32,911 33,060 =================== ================= ================ Basic earnings per share $ 1.32 $ 1.04 $ 0.96 =================== ================= ================ Diluted earnings per share $ 1.30 $ 1.03 $ 0.94 =================== ================= ================