Earnings (Loss) Per Share

9 Months Ended

Oct. 05, 2013

Earnings Per Share [Abstract]

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:

		Third Quarter Ended		Year-to-Date Ended
(In thousands, except per share amounts)		October 5, 2013	October 6, 2012	October 5, 2013	October 6, 2012
Net earnings (loss)	$	6,023	14,604	17,012	(64,910)
Net earnings (loss) per share-basic:
Weighted-average shares outstanding		12,992	12,962	12,996	12,963
Net earnings (loss) per share-basic	$	0.46	1.13	1.31	(5.01)
Net earnings (loss) per share-diluted:
Weighted-average shares outstanding		12,992	12,962	12,996	12,963
Shares contingently issuable		140	78	97	-
Weighted-average shares and potential dilutive shares outstanding		13,132	13,040	13,093	12,963
Net earnings (loss) per share-diluted	$	0.46	1.12	1.30	(5.01)

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 third quarter of 2013, approximately 82,000 shares related to the LTIP and 58,000 shares related to RSUs were included under “shares contingently issuable” in the calculation of diluted EPS as compared to approximately 31,000 shares related to the LTIP and 47,000 shares related to RSUs during the third quarter of 2012.  For year-to-date 2013, approximately 45,000 shares related to the LTIP and 52,000 shares related to RSUs were included under “shares contingently issuable” in the calculation of diluted EPS.  Due to the net loss for the year-to-date period of 2012, the calculation of diluted earnings per share was the same as the calculation of basic earnings per share.