Net Income (Loss) Per Common Share

12 Months Ended

Oct. 26, 2012

Net Income (Loss) Per Common Share [Abstract]

Net Income (Loss) Per Common Share

NOTE 16 – NET INCOME (LOSS) PER COMMON SHARE

The following table presents the net income per common share calculations for the three most recent fiscal years:

	2012		2011			2010
Basic
Net income (loss)	$	292,497	$	(138,601	)	$	222,056
Weighted-average common shares outstanding – basic		91,415,055		94,309,679			98,521,088
Net Income (Loss) per Common Share – Basic at October 26, 2012	$	3.20	$	(1.47	)	$	2.25
Diluted
Net income (loss)	$	292,497	$	(138,601	)	$	222,056
Weighted-average common shares outstanding – basic		91,415,055		94,309,679			98,521,088
Dilutive effect of stock options and unvested restricted stock		2,965,421		—			2,345,119
Equivalent average common shares outstanding – diluted		94,380,476		94,309,679			100,866,207
Net Income (Loss) per Common Share – Diluted at October 26, 2012	$	3.10	$	(1.47	)	$	2.20

Basic earnings per share are based on the weighted-average number of common shares outstanding during each period. In computing diluted earnings per share, the number of common shares outstanding is increased by common stock options with exercise prices lower than the average market prices of common shares during each period and reduced by the number of shares assumed to have been purchased with proceeds from the exercised options. If we are in a net loss position, these shares are excluded as they are antidilutive. Potential common shares of 67,411, 3,057,297 and 1,065,425 related to our outstanding stock options were excluded from the computation of diluted earnings per share for 2012, 2011 and 2010, respectively, as inclusion of these shares would have been antidilutive.