Earnings Per Share

9 Months Ended

Nov. 25, 2011

Earnings Per Share [Abstract]

Earnings Per Share

Note 7—Earnings Per Share

The following table sets forth the computation of earnings per share and earnings per share—assuming dilution:

	Three Months Ended				Nine Months Ended
	November 25, 2011		November 26, 2010		November 25, 2011		November 26, 2010
Numerator (in thousands):
Net income	$	20,246	$	32,163	$	67,315	$	71,534
Denominator (in thousands):
Weighted average shares outstanding		39,481		40,072		40,226		39,912
Effect of dilutive securities:
Stock options and awards		956		914		1,155		1,000
Weighted average shares outstanding – assuming dilution		40,437		40,986		41,381		40,912
Earnings per share	$	0.51	$	0.80	$	1.67	$	1.79
Earnings per share – assuming dilution	$	0.50	$	0.78	$	1.63	$	1.75

Certain stock options were excluded from the computation of earnings per share–assuming dilution because the options’ exercise prices were greater than the average market price of the common shares. The stock options excluded from the computation of earnings per share-assuming dilution were approximately 3.7 million and 2.4 million in the three and nine month periods ended November 25, 2011, respectively (4.0 million and 3.2 million in the three and nine month periods ended November 26, 2010, respectively).

During the three months ended November 26, 2010, the Corporation issued approximately 0.1 million Class A common shares upon exercise of employee stock options and vesting of equity awards. The Corporation issued approximately 0.7 million and 0.3 million Class A and Class B common shares, respectively, upon exercise of employee stock options and vesting of equity awards during the nine months ended November 25, 2011 (0.9 million and 0.2 million Class A and Class B common shares, respectively, in the nine months ended November 26, 2010).