EX-11.1 3 f93710exv11w1.txt EXHIBIT 11.1 EXHIBIT 11.1 SAFEWAY INC. AND SUBSIDIARIES COMPUTATION OF EARNINGS PER SHARE (IN MILLIONS, EXCEPT PER-SHARE AMOUNTS) (UNAUDITED)
12 Weeks Ended --------------------------------------------------- September 6, 2003 September 7, 2002 ------------------------ ----------------------- Diluted Basic Diluted Basic ---------- ---------- ---------- ---------- Income from continuing operations before cumulative effect of accounting change $ 203.3 $ 203.3 $ 280.9 $ 280.9 (Loss) income on discontinued operations (0.8) (0.8) 0.4 0.4 Cumulative effect of accounting change -- -- -- -- ---------- ---------- ---------- ---------- Net income $ 202.5 $ 202.5 $ 281.3 $ 281.3 ========== ========== ========== ========== Weighted average common shares outstanding 441.8 441.8 465.7 465.7 ========== ========== Common share equivalents 4.8 5.7 ---------- ---------- Weighted average shares outstanding 446.6 471.4 ========== ========== Earnings per share: Income from continuing operations before cumulative effect of accounting change $ 0.46 $ 0.46 $ 0.60 $ 0.60 Loss on discontinued operations (0.01) -- -- -- Cumulative effect of accounting change -- -- -- -- ---------- ---------- ---------- ---------- Net income $ 0.45 $ 0.46 $ 0.60 $ 0.60 ========== ========== ========== ========== Calculation of common share equivalents: Options to purchase common shares 11.9 13.8 Common shares assumed purchased with potential proceeds (7.1) (8.1) ---------- ---------- Common share equivalents 4.8 5.7 ========== ========== Calculation of common shares assumed purchased with potential proceeds: Potential proceeds from exercise of options to purchase common shares $ 153.0 $ 227.1 Common stock price used under the treasury stock method $ 21.49 $ 28.12 Common shares assumed purchased with potential proceeds 7.1 8.1
Anti-dilutive shares totaling 25.9 million in 2003 and 25.1 million in 2002 have been excluded from diluted weighted average shares outstanding. SAFEWAY INC. AND SUBSIDIARIES COMPUTATION OF EARNINGS PER SHARE (IN MILLIONS, EXCEPT PER-SHARE AMOUNTS) (UNAUDITED)
36 Weeks Ended ----------------------------------------- September 6, 2003 September 7, 2002 ------------------- ------------------- Diluted Basic Diluted Basic -------- -------- -------- -------- Income from continuing operations before cumulative effect of accounting change $ 599.1 $ 599.1 $ 910.9 $ 910.9 (Loss) income on discontinued operations (73.0) (73.0) 11.8 11.8 Cumulative effect of accounting change -- -- (700.0) (700.0) -------- -------- -------- -------- Net income $ 526.1 $ 526.1 $ 222.7 $ 222.7 ======== ======== ======== ======== Weighted average common shares outstanding 441.5 441.5 478.3 478.3 ======== ======== Common share equivalents 4.8 7.2 -------- -------- Weighted average shares outstanding 446.3 485.5 ======== ======== Earnings per share: Income from continuing operations before cumulative effect of accounting change $ 1.34 $ 1.36 $ 1.88 $ 1.90 (Loss) income on discontinued operations (0.16) (0.17) 0.02 0.02 Cumulative effect of accounting change -- -- (1.44) (1.45) -------- -------- -------- -------- Net income $ 1.18 $ 1.19 $ 0.46 $ 0.47 ======== ======== ======== ======== Calculation of common share equivalents: Options to purchase common shares 11.7 20.5 Common shares assumed purchased with potential proceeds (6.9) (13.3) -------- -------- Common share equivalents 4.8 7.2 ======== ======== Calculation of common shares assumed purchased with potential proceeds: Potential proceeds from exercise of options to purchase common shares $ 141.0 $ 497.5 Common stock price used under the treasury stock method $ 20.33 $ 37.35 Common shares assumed purchased with potential proceeds 6.9 13.3
Anti-dilutive shares totaling 26.4 million in 2003 and 18.5 million in 2002 have been excluded from diluted weighted average shares outstanding.