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Net Income (Loss) Per Common Share
 9 Months Ended
Jul. 26, 2013
Net Income (Loss) Per Common Share [Abstract]  
Net Income (Loss) Per Common Share

NOTE 13 – NET INCOME (LOSS) PER COMMON SHARE

 

The following table presents the net income (loss) per common share calculations for the three and nine months ended July 26, 2013 and July 27, 2012:

 

    Three Months Ended     Nine Months Ended  
    July 26,
2013		     July 27,
2012		     July 26,
2013		     July 27,
2012		  
Basic                                
Net income (loss)   $ 93,808     $ 86,406     $ 225,745     $ 218,728  
Weighted-average common shares outstanding – basic     87,227,248       90,601,291       88,373,620       91,843,596  
Net Income (Loss) per Common Share – Basic   $ 1.08     $ 0.95     $ 2.55     $ 2.38  
                                 
Diluted                                
Net income (loss)   $ 93,808     $ 86,406     $ 225,745     $ 218,728  
Weighted-average common shares outstanding – basic     87,227,248       90,601,291       88,373,620       91,843,596  
Diluted effect of stock options and unvested restricted stock     2,683,433       2,971,914       2,789,817       2,931,840  
Equivalent average common shares outstanding – diluted     89,910,681       93,573,205       91,163,437       94,775,436  
Net Income (Loss) per Common Share – Diluted   $ 1.04     $ 0.92     $ 2.48     $ 2.31  

 

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 118,383 and 256,716 related to our outstanding stock options were excluded from the computation of diluted earnings per share for the three and nine months ended July 26, 2013, respectively, as inclusion of these shares would have been antidilutive. Potential common shares of 59,430 and 29,450 related to our outstanding stock options were excluded from the computation of diluted earnings per share for the three and nine months ended July 27, 2012, respectively, as inclusion of these shares would have been antidilutive.