Average Shares Outstanding

4 Months Ended

Jan. 22, 2017

Weighted Average Number of Shares Outstanding, Diluted [Abstract]

Average Shares Outstanding

AVERAGE SHARES OUTSTANDING

Our basic earnings per share calculation is computed based on the weighted-average number of common shares outstanding. Our diluted earnings per share calculation is computed based on the weighted-average number of common shares outstanding adjusted by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued. Potentially dilutive common shares include stock options, nonvested stock awards and units, and non-management director stock equivalents. Performance share awards are included in the average diluted shares outstanding each period if the performance criteria have been met at the end of the respective periods.

The following table reconciles basic weighted-average shares outstanding to diluted weighted-average shares outstanding (in thousands):

	Sixteen Weeks Ended
	January 22, 2017	January 17, 2016
Weighted-average shares outstanding – basic	32,168	35,458
Effect of potentially dilutive securities:
Nonvested stock awards and units	181	187
Stock options	76	176
Performance share awards	17	125
Weighted-average shares outstanding – diluted	32,442	35,946
Excluded from diluted weighted-average shares outstanding:
Antidilutive	44	149
Performance conditions not satisfied at the end of the period	79	—