NOTE 2 — EARNINGS PER SHARE ("EPS")

The Company reports a dual presentation of basic and diluted EPS. Basic EPS is computed by dividing net income attributable to shareholders of Tech Data Corporation by the weighted average number of common shares outstanding during the reported period. Diluted EPS reflects the potential dilution related to equity-based incentives (as further discussed in Note 5 – Stock-Based Compensation) using the if-converted and treasury stock methods, where applicable. The composition of basic and diluted EPS is as follows:


	Three months ended April 30,
	2011						2010
	Net income attributable to Tech Data Corporation		Weighted average shares		Per share amount		Net income attributable to Tech Data Corporation		Weighted average shares		Per share amount
	(In thousands, except per share data)
Net income per common share attributable to shareholders of Tech Data Corporation—basic	$	48,701		46,673	$	1.04	$	45,633		51,492	$	0.89

Effect of dilutive securities:
Equity-based awards		0		716				0		577

Net income per common share attributable to shareholders of Tech Data Corporation—diluted	$	48,701		47,389	$	1.03	$	45,633		52,069	$	0.88

At April 30, 2011 and 2010, there were 3,500 and 635,540 equity-based compensation awards, respectively, excluded from the computation of diluted earnings per share because the exercise price was greater than the average market price, thereby resulting in an antidilutive effect.

In December 2006, the Company issued $350.0 million of convertible senior debentures due 2026. The dilutive impact of the $350.0 million convertible senior debentures does not impact earnings per share at either April 30, 2011 or 2010 as the conditions for the contingent conversion feature have not been met (see further discussion in Note 3 — Debt).