Earnings per Share

12 Months Ended

Feb. 25, 2023

Basic earnings per share is computed by dividing net earnings by the weighted average number of common shares outstanding. Diluted earnings per share is computed by dividing net earnings by the weighted average number of common shares outstanding, including the dilutive effects of stock options, SARs and nonvested shares. The following table presents a reconciliation of the share amounts used in the computation of basic and diluted earnings per share:


(In thousands)	2023	2022	2021
Basic earnings per share - weighted average common shares outstanding	22,007	24,920	25,955
Weighted average effect of nonvested share grants and assumed exercise of stock options	409	372	349
Diluted earnings per share - weighted average common shares and potential common shares outstanding	22,416	25,292	26,304
Stock awards excluded from the calculation of earnings per share because the award price was greater than the average market price of the common shares	97	1	111