Note 13 - Earnings Per Common Share from Continuing Operations

9 Months Ended

Dec. 26, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

13.         Earnings per Common Share From Continuing Operations

Earnings per share for the quarters and year-to-date periods ended December 26, 2020 and December 28, 2019 are as follows:

	Q U A R T E R				Y E A R T O D A T E
(Thousands, except per share amounts)	Fiscal 2021		Fiscal 2020		Fiscal 2021		Fiscal 2020
Basic
Earnings from continuing operations	$	72,460	$	24,428	$	111,271	$	30,166
Deduct preferred stock dividends paid		6		6		17		17
Undistributed earnings from continuing operations		72,454		24,422		111,254		30,149
Earnings from continuing operations attributable to participating preferred		285		100		437		122
Earnings from continuing operations attributable to common shareholders	$	72,169	$	24,322	$	110,817	$	30,027
Weighted average common shares outstanding		9,071		9,176		9,095		9,307
Basic earnings per common share from continuing operations	$	7.96	$	2.65	$	12.18	$	3.23
Diluted
Earnings from continuing operations attributable to common shareholders	$	72,169	$	24,322	$	110,817	$	30,027
Add dividends on convertible preferred stock		5		5		15		15
Earnings from continuing operations attributable to common stock on a diluted basis	$	72,174	$	24,327	$	110,832	$	30,042
Weighted average common shares outstanding-basic		9,071		9,176		9,095		9,307
Additional shares issued related to the equity compensation plan		2		2		2		2
Additional shares to be issued under full conversion of preferred stock		67		67		67		67
Total shares for diluted		9,140		9,245		9,164		9,376
Diluted earnings per common share from continuing operations	$	7.90	$	2.63	$	12.09	$	3.20

Earnings per Common Share From Discontinued Operations

(Thousands, except per share amounts)	Fiscal 2021		Fiscal 2020		Fiscal 2021		Fiscal 2020
Discontinued Operations
Basic
Earnings from discontinued operations	$	-	$	955	$	-	$	955
Deduct preferred stock dividends paid		-		6		-		17
Undistributed earnings from discontinued operations		-		949		-		938
Earnings from discontinued operations attributable to participating preferred		-		4		-		4
Earnings from discontinued operations attributable to common shareholders	$	-	$	945	$	-	$	934
Weighted average common shares outstanding		-		9,176		-		9,307
Basic earnings per common share from discontinued operations	$	-	$	0.10	$	-	$	0.10
Diluted
Earnings from discontinued operations attributable to common shareholders	$	-	$	945	$	-	$	934
Add dividends on convertible preferred stock		-		5		-		15
Earnings from discontinued operations attributable to common stock on a diluted basis	$	-	$	950	$	-	$	949
Weighted average common shares outstanding-basic				9,176				9,307
Additional shares issued related to the equity compensation plan				2				2
Additional shares to be issued under full conversion of preferred stock				67				67
Total shares for diluted		-		9,245		-		9,376
Diluted earnings per common share from discontinued operations	$	-	$	0.10	$	-	$	0.10