NOTE 12—NET EARNINGS PER SHARE

The following table reflects the calculation of basic and diluted net earnings per share:



	2018			2017			2016
Net earnings from continuing operations	$	49		$	35		$	49
Less net earnings attributable to noncontrolling interests	(1		)	(4		)	(8		)
Net earnings from continuing operations attributable to SUPERVALU INC.	48			31			41
(Loss) income from discontinued operations, net of tax	(3		)	619			137
Net earnings attributable to SUPERVALU INC.	$	45		$	650		$	178

Weighted average number of shares outstanding—basic	38			38			38
Dilutive impact of stock-based awards	—			—			—
Weighted average number of shares outstanding—diluted	38			38			38

Basic net earnings per share attributable to SUPERVALU INC.:
Continuing operations	$	1.25		$	0.82		$	1.08
Discontinued operations	$	(0.07	)	$	16.35		$	3.65
Basic net earnings per share	$	1.18		$	17.17		$	4.72
Diluted net earnings per share attributable to SUPERVALU INC.:
Continuing operations	$	1.25		$	0.81		$	1.06
Discontinued operations	$	(0.07	)	$	16.19		$	3.59
Diluted net earnings per share	$	1.18		$	17.00		$	4.66

Stock-based awards of 2, 2 and 1 that were outstanding during fiscal 2018, 2017 and 2016, respectively, were excluded from the calculation of Net earnings from continuing operations per share—diluted, Net earnings from discontinued operations per share—diluted and Net earnings per share—diluted for the periods because their inclusion would be antidilutive.

Reverse Stock Split

At the close of business on August 1, 2017, a 1-for-7 reverse split of our common stock became effective and the number of authorized shares of our common stock decreased to approximately 57, while the number of issued and outstanding shares was reduced from approximately 269 to 38. Our common stock began trading on a split-adjusted basis when the market opened on August 2, 2017. No fractional shares were issued from the reverse stock split. In lieu of any fractional shares, any holder of less than one share of common stock was entitled to receive cash for such holder’s fractional share. The reverse stock split did not impact the authorized number of shares of preferred stock of Supervalu, none of which were outstanding. The reverse stock split reduced the number of shares of common stock available for issuance under our equity compensation plans in proportion to the reverse stock split ratio. The reverse stock split caused a reduction in the number of shares of common stock issuable upon exercise or vesting of equity awards in proportion to the reverse stock split ratio and caused a proportionate increase in any exercise price of such awards. Our common stock continues to trade on the NYSE under the symbol “SVU.”