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Earnings Per Share
 3 Months Ended
Mar. 28, 2015
Earnings Per Share [Abstract]  
Earnings Per Share
EARNINGS PER SHARE
The Company calculates earnings per share in accordance with FASB Accounting Standards Codification (“ASC”) Topic 260, Earnings Per Share (“ASC 260”). ASC 260 addresses whether instruments granted in share-based payment transactions are participating securities prior to vesting and, therefore, need to be included in the earnings allocation in computing earnings per share under the two-class method. Under the guidance in ASC 260, the Company’s unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, are participating securities and must be included in the computation of earnings per share pursuant to the two-class method.
On April 24, 2014, the Company amended its Restated Certificate of Incorporation to increase the number of shares of the Company’s authorized common stock from 160,000,000 shares to 320,000,000 shares. All share data in this Quarterly Report on Form 10-Q has been presented to reflect the increase in authorized shares.
The following table sets forth the computation of basic and diluted earnings per share.
 
12 Weeks Ended
(In millions, except share and per share data)
March 28,
2015
 
March 22,
2014
Numerator:
 
 
 
Net earnings attributable to Wolverine World Wide, Inc.
$
40.1

 
$
37.1

Adjustment for earnings allocated to non-vested restricted common stock
(0.8
)
 
(0.7
)
Net earnings used in calculating basic earnings per share
39.3

 
36.4

Adjustment for earnings reallocated from non-vested restricted common stock
0.1

 
—

Net earnings used in calculating diluted earnings per share
$
39.4

 
$
36.4

Denominator:
 
 
 
Weighted average shares outstanding
102,514,698

 
100,961,065

Adjustment for non-vested restricted common stock
(3,550,261
)
 
(3,141,330
)
Shares used in calculating basic earnings per share
98,964,437

 
97,819,735

Effect of dilutive stock options
1,871,886

 
2,056,789

Shares used in calculating diluted earnings per share
100,836,323

 
99,876,524

Net earnings per share:
 
 
 
Basic
$
0.40

 
$
0.37

Diluted
$
0.39

 
$
0.36


For the 12 weeks ended March 28, 2015 and March 22, 2014, options relating to 1,121,413 and 589,579 shares of common stock outstanding, respectively, have not been included in the denominator for the computation of diluted earnings per share because they were anti-dilutive.