Net Income (Loss) Per Common Share

12 Months Ended

Oct. 25, 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 most recent fiscal years:

		2013		2012		2011
Basic
Net income (loss)	$	289,255	$	292,497	$	(138,601	)
Weighted-average common shares outstanding – basic		87,793,543		91,415,055		94,309,679
Net Income (Loss) per Common Share - Basic	$	3.29	$	3.20	$	(1.47	)
Diluted
Net income (loss)	$	289,255	$	292,497	$	(138,601	)
Weighted-average common shares outstanding – basic		87,793,543		91,415,055		94,309,679
Dilutive effect of stock options and unvested restricted stock		2,732,742		2,965,421		—
Equivalent average common shares outstanding – diluted		90,526,285		94,380,476		94,309,679
Net Income (Loss) per Common Share – Diluted	$	3.20	$	3.10	$	(1.47	)

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 284,663, 67,411, and 3,057,297 related to our outstanding stock options were excluded from the computation of diluted earnings per share for 2013, 2012, and 2011, respectively, as inclusion of these shares would have been antidilutive.