Earnings (Loss) Per Share

6 Months Ended

Jun. 15, 2013

Earnings Per Share [Text Block]

Earnings Per Share [Text Block]

Note 9 – Earnings (Loss) Per Share

                The following table reflects the calculation of basic and diluted earnings (loss) per share:

		Second Quarter		Year-to-Date
		Ended		Ended
(In thousands, except per share amounts)		June 15, 2013	June 16, 2012	June 15, 2013	June 16, 2012
Net earnings (loss)	$	8,929	(84,968)	10,989	(79,514)
Net earnings (loss) per share-basic:
Weighted-average shares outstanding		12,992	12,966	12,995	12,958
Net earnings (loss) per share-basic	$	0.69	(6.55)	0.85	(6.14)
Net earnings (loss) per share-diluted:
Weighted-average shares outstanding		12,992	12,966	12,995	12,958
Shares contingently issuable		97	-	75	-
Weighted-average shares and potential dilutive shares outstanding		13,089	12,966	13,070	12,958
Net earnings (loss) per share-diluted	$	0.68	(6.55)	0.84	(6.14)

The senior subordinated convertible notes due in 2035, which were redeemed on March 15, 2013, were convertible at the option of the holder, only upon the occurrence of certain events.  The notes were not dilutive to earnings per share for any of the periods presented.

                Vested shares deferred by executives and board members are included in the calculation of basic earnings per share.  Other performance units and RSUs granted between 2008 and 2013 pursuant to the 2000 Plan and 2009 Plan will be settled in shares of Nash Finch common stock.  Unvested performance units and RSUs are not included in basic earnings per share until vested. 

All shares of time-restricted stock are included in diluted earnings per share using the treasury stock method, if dilutive.  Performance units granted for the LTIP are only issuable if certain performance criteria are met, making these shares contingently issuable.  Therefore, the performance units were included in diluted earnings per share at the payout percentage based on performance criteria results as of the end of the respective reporting period and then accounted for using the treasury stock method, if dilutive.  For the second quarter of 2013, approximately 46,000 shares related to the LTIP and 51,000 shares related to RSUs were included under “shares contingently issuable” in the calculation of diluted EPS.  For year-to-date 2013, approximately 26,000 shares related to the LTIP and 49,000 shares related to RSUs were included under “shares contingently issuable” in the calculation of diluted EPS.  Due to the net loss for both the second quarter and year-to-date periods of 2012, the calculation of diluted earnings per share was the same as the calculation of basic earnings per share for both periods.