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Earnings Per Share
 6 Months Ended
Jul. 28, 2012
Earnings Per Share

Note 10 – Earnings Per Share

Basic earnings per share is computed by dividing net earnings available to common shareholders by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share include the effect of conversions of stock options and stock-settled SARs. For all periods presented, the Company used the two-class method to calculate earnings per share. Earnings per share has been computed as follows:

 

     13 Weeks Ended     26 Weeks Ended  

(dollars in millions, except per share amounts; shares in thousands)

    July 28,
2012		      July 30,
2011		     July 28,
2012		      July 30,
2011		  

Net earnings (loss) attributable to Collective Brands, Inc.

    $ 9.7       $ (35.0 )    $ 42.9       $ (8.6 ) 

Less: net earnings allocated to participating securities(1)

      0.1         —          0.4         —     
  

 

 

     

 

 

    

 

 

     

 

 

  

Net earnings (loss) available to common shareholders

    $ 9.6       $ (35.0 )    $ 42.5       $ (8.6 ) 
  

 

 

     

 

 

    

 

 

     

 

 

  

Weighted average shares outstanding—basic

      60,647         60,275        60,380         60,465   

Net effect of dilutive stock options

      58         —          56         —     

Net effect of dilutive stock-settled SARs

      671         —          636         —     
  

 

 

     

 

 

    

 

 

     

 

 

  

Weighted average shares outstanding—diluted

      61,376         60,275        61,072         60,465   
  

 

 

     

 

 

    

 

 

     

 

 

  

Basic earnings (loss) per share attributable to common shareholders

    $ 0.16       $ (0.58 )    $ 0.70       $ (0.14 ) 

Diluted earnings (loss) per share attributable to common shareholders

    $ 0.16       $ (0.58 )    $ 0.70       $ (0.14 ) 

 

(1)

Net earnings allocated to participating securities is calculated based upon a weighted average percentage of participating securities in relation to total shares outstanding. Net losses are not allocated to participating securities.

The Company excluded approximately 2.7 million and 3.1 million stock options and stock-settled SARs from the calculation of diluted earnings per share for the thirteen and twenty-six weeks ended July 28, 2012, respectively, because to include them would have been antidilutive. All of the Company’s stock options and stock-settled SARs were excluded from the calculation of diluted earnings per share for the thirteen and twenty-six weeks ended July 30, 2011 as their effects were antidilutive. Certain grants that are subject to performance conditions for vesting are considered antidilutive if the performance conditions are not met as of the end of the reporting period.