INCOME (LOSS) PER SHARE

The following tables provide reconciliations of net earnings and shares used in calculating income (loss) per basic common share to those used in calculating income (loss) per diluted common share (in millions, except per-share amounts):



	12 Weeks Ended
	June 14, 2014						June 15, 2013
	Diluted			Basic			Diluted			Basic
Income from continuing operations, net of tax	$	80.6		$	80.6		$	62.5		$	62.5
Distributed and undistributed earnings allocated to participating securities	(1.5		)	(1.5		)	(0.7		)	(0.7		)
Income from continuing operations available to common stockholders	79.1			79.1			61.8			61.8

Income (loss) from discontinued operations, net of tax	15.0			15.0			(53.7		)	(53.7		)
Noncontrolling interests - discontinued operations	—			—			(0.4		)	(0.4		)
Income (loss) from discontinued operations, attributable to Safeway Inc.	15.0			15.0			(54.1		)	(54.1		)
Distributed and undistributed earnings allocated to participating securities	(0.2		)	(0.2		)	0.2			0.2
Income (loss) from discontinued operations available to common stockholders	14.8			14.8			(53.9		)	(53.9		)

Net income	$	95.6		$	95.6		$	8.4		$	8.4
Distributed and undistributed earnings allocated to participating securities	(1.7		)	(1.7		)	(0.5		)	(0.5		)
Net income available to common stockholders after earnings allocated to participating securities	$	93.9		$	93.9		$	7.9		$	7.9

Weighted average common shares outstanding	228.8			228.8			238.7			238.7
Common share equivalents	1.9						2.1
Weighted average shares outstanding	230.7						240.8

Earnings (loss) per common share:
Continuing operations	$	0.34		$	0.35		$	0.26		$	0.26
Discontinued operations	0.07			0.06			(0.23		)	(0.23		)
Total	$	0.41		$	0.41		$	0.03		$	0.03

Anti-dilutive shares totaling 1.0 million and 8.4 million have been excluded from diluted weighted average shares outstanding for the 12 weeks ended June 14, 2014 and June 15, 2013, respectively. Additionally, performance shares totaling 1.9 million for which the Company does not forecast achievement of target have been excluded from diluted weighted average shares outstanding for the 12 weeks ended June 14, 2014.



	24 Weeks Ended
	June 14, 2014						June 15, 2013
	Diluted			Basic			Diluted			Basic
(Loss) income from continuing operations, net of tax	$	(3.1	)	$	(3.1	)	$	122.1		$	122.1
Distributed and undistributed earnings allocated to participating securities	(2.2		)	(2.2		)	(1.3		)	(1.3		)
(Loss) income from continuing operations available to common stockholders	(5.3		)	(5.3		)	120.8			120.8

Income from discontinued operations, net of tax	0.1			0.1			5.5			5.5
Noncontrolling interests - discontinued operations	0.9			0.9			(0.3		)	(0.3		)
Income from discontinued operations, attributable to Safeway, Inc.	1.0			1.0			5.2			5.2
Distributed and undistributed earnings allocated to participating securities	—			—			(0.1		)	(0.1		)
Income from discontinued operations available to common stockholders	1.0			1.0			5.1			5.1

Net (loss) income	$	(2.1	)	$	(2.1	)	$	127.3		$	127.3
Distributed and undistributed earnings allocated to participating securities	(2.2		)	(2.2		)	(1.4		)	(1.4		)
Net (loss) income available to common stockholders after earnings allocated to participating securities	$	(4.3	)	$	(4.3	)	$	125.9		$	125.9

Weighted average common shares outstanding	228.5			228.5			238.0			238.0
Common share equivalents	1.8						1.7
Weighted average shares outstanding	230.3						239.7

(Loss) earnings per common share:
Continuing operations	$	(0.02	)	$	(0.02	)	$	0.50		$	0.51
Discontinued operations	—			—			0.03			0.02
Total	$	(0.02	)	$	(0.02	)	$	0.53		$	0.53

Anti-dilutive shares totaling 0.8 million and 15.1 million have been excluded from diluted weighted average shares outstanding for the 24 weeks ended June 14, 2014 and June 15, 2013, respectively. Additionally, performance shares totaling 1.9 million for which the Company does not forecast achievement of target have been excluded from diluted weighted average shares outstanding for the 24 weeks ended June 14, 2014.