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Income Per Share
 6 Months Ended
Jun. 15, 2013
Earnings Per Share [Abstract]  
Income Per Share
INCOME PER SHARE
The following tables provide reconciliations of net earnings and shares used in calculating income per basic common share to those used in calculating income per diluted common share (in millions, except per-share amounts):
 
12 Weeks Ended
 
June 15, 2013
 
June 16, 2012
 
Diluted
 
Basic
 
Diluted
 
Basic
Income from continuing operations, net of tax
$
58.1

 
$
58.1

 
$
47.6

 
$
47.6

Noncontrolling interests
(0.4
)
 
(0.4
)
 
(0.2
)
 
(0.2
)
Income from continuing operations attributable to Safeway Inc.
57.7

 
57.7

 
47.4

 
47.4

Distributed and undistributed earnings allocated to participating securities
(0.6
)
 
(0.6
)
 
(0.4
)
 
(0.4
)
Income from continuing operations available to common stockholders
57.1

 
57.1

 
47.0

 
47.0

 
 
 
 
 
 
 
 
(Loss) income from discontinued operations, net of tax
(49.3
)
 
(49.3
)
 
75.3

 
75.3

Distributed and undistributed earnings allocated to participating securities
0.1

 
0.1

 
(0.7
)
 
(0.7
)
(Loss) income from discontinued operations available to common stockholders
(49.2
)
 
(49.2
)
 
74.6

 
74.6

 
 
 
 
 
 
 
 
Net income
$
8.4

 
$
8.4

 
$
122.7

 
$
122.7

Distributed and undistributed earnings allocated to participating securities
(0.5
)
 
(0.5
)
 
(1.1
)
 
(1.1
)
Net income available to common stockholders after earnings allocated to participating securities
$
7.9

 
$
7.9

 
$
121.6

 
$
121.6

 
 
 
 
 
 
 
 
Weighted average common shares outstanding
238.7

 
238.7

 
239.5

 
239.5

Common share equivalents
2.1

 
 
 
0.3

 
 
Weighted average shares outstanding
240.8

 
 
 
239.8

 
 
 


 


 


 


Earnings (loss) per common share:
 
 
 
 
 
 
 
Continuing operations
$
0.24

 
$
0.24

 
$
0.20

 
$
0.20

Discontinued operations
(0.21
)
 
(0.21
)
 
0.31

 
0.31

           Total
$
0.03

 
$
0.03

 
$
0.51

 
$
0.51

Anti-dilutive shares totaling 8.4 million and 23.9 million have been excluded from diluted weighted average shares outstanding for the 12 weeks ended June 15, 2013 and June 16, 2012, respectively.



 
24 Weeks Ended
 
June 15, 2013
 
June 16, 2012
 
Diluted
 
Basic
 
Diluted
 
Basic
Income from continuing operations, net of tax
$
113.0

 
$
113.0

 
$
77.8

 
$
77.8

Noncontrolling interests
(0.3
)
 
(0.3
)
 
(0.2
)
 
(0.2
)
Income from continuing operations attributable to Safeway Inc.
112.7

 
112.7

 
77.6

 
77.6

Distributed and undistributed earnings allocated to participating securities
(1.2
)
 
(1.2
)
 
(0.7
)
 
(0.7
)
Income from continuing operations available to common stockholders
111.5

 
111.5

 
76.9

 
76.9

 
 
 
 
 
 
 
 
Income from discontinued operations, net of tax
14.6

 
14.6

 
118.0

 
118.0

Distributed and undistributed earnings allocated to participating securities
(0.2
)
 
(0.2
)
 
(1.0
)
 
(1.0
)
Income from discontinued operations available to common stockholders
14.4

 
14.4

 
117.0

 
117.0

 
 
 
 
 
 
 
 
Net income
$
127.3

 
$
127.3

 
$
195.6

 
$
195.6

Distributed and undistributed earnings allocated to participating securities
(1.4
)
 
(1.4
)
 
(1.7
)
 
(1.7
)
Net income available to common stockholders after earnings allocated to participating securities
$
125.9

 
$
125.9

 
$
193.9

 
$
193.9

 
 
 
 
 
 
 
 
Weighted average common shares outstanding
238.0

 
238.0

 
255.5

 
255.5

Common share equivalents
1.7

 
 
 
0.4

 
 
Weighted average shares outstanding
239.7

 
 
 
255.9

 
 
 
 
 
 
 
 
 
 
Earnings per common share:
 
 
 
 
 
 
 
Continuing operations
$
0.47

 
$
0.47

 
$
0.30

 
$
0.30

Discontinued operations
0.06

 
0.06

 
0.46

 
0.46

           Total
$
0.53

 
$
0.53

 
$
0.76

 
$
0.76

Anti-dilutive shares totaling 15.1 million and 21.9 million have been excluded from diluted weighted average shares outstanding for the 24 weeks ended June 15, 2013 and June 16, 2012, respectively.