Earnings Per Share

6 Months Ended

Aug. 26, 2011

Earnings Per Share

Earnings Per Share

3.  EARNINGS PER SHARE

Earnings per share is computed using the two-class method. The two-class method determines earnings per share of common stock and participating securities according to dividends or dividend equivalents and their respective participation rights in undistributed earnings. Participating securities include performance units and restricted stock units in which the participants have non-forfeitable rights to dividends or dividend equivalents during the performance period. Basic earnings per share of participating securities is the same as basic earnings per share of common stock for all periods presented.  However, participating securities impacted year-to-date 2012 diluted earnings per share by one cent.  Diluted earnings per share includes the effects of options and certain performance shares and performance units in which the participants have forfeitable rights to dividends or dividend equivalents during the performance period. However, for both the three and six months ended August 26, 2011, diluted earnings per share does not reflect the effects of options totaling 2.3 million, because their effect would have been anti-dilutive. Similarly, for the three and six months ended August 27, 2010, diluted earnings per share does not reflect the effects of anti-dilutive options and certain performance units totaling 3.3 million and 3.8 million, respectively.

	Three Months Ended		Six Months Ended
	August 26,	August 27,	August 26,	August 27,
Computation of Earnings per Share	2011	2010	2011	2010
Net income (loss)	$ 11.9	$ 2.8	$ 19.4	$ (8.3)
Weighted-average common shares outstanding for basic earnings per share (in millions)	130.9	133.0	131.4	132.9
Effect of dilutive stock-based compensation (in millions)	0.4	—	0.4	—
Adjusted weighted-average shares outstanding for diluted earnings per share (in millions)	131.3	133.0	131.8	132.9
Earnings per share:
Basic	$ 0.09	$ 0.02	$ 0.15	$ (0.06)
Diluted	$ 0.09	$ 0.02	$ 0.14	$ (0.06)
Total common shares outstanding at period end (in millions)	130.2	133.0	130.2	133.0