EARNINGS PER SHARE

6 Months Ended

Jul. 12, 2014

EARNINGS PER SHARE

11. EARNINGS PER SHARE

The following is a reconciliation of net income and weighted average shares for calculating basic and diluted earnings per common share for the twelve and twenty-eight weeks ended July 12, 2014 and July 13, 2013 (amounts and shares in thousands, except per share data):

	For the Twelve Weeks Ended				For the Twenty-Eight Weeks ended
	July 12, 2014		July 13, 2013		July 12, 2014		July 13, 2013
Net income	$	42,064	$	46,460	$	103,130	$	158,486
Basic Earnings Per Common Share:
Basic weighted average shares outstanding for common stock		209,639		207,837		209,354		207,455
Basic earnings per common share	$	0.20	$	0.22	$	0.49	$	0.76
Diluted Earnings Per Common Share:
Basic weighted average shares outstanding for common stock		209,639		207,837		209,354		207,455
Add: Shares of common stock assumed issued upon exercise of stock options and vesting of restricted stock		3,280		4,055		3,552		3,989
Diluted weighted average shares outstanding for common stock		212,919		211,892		212,906		211,444
Diluted earnings per common share	$	0.20	$	0.22	$	0.48	$	0.75

The following shares were not included in the computation of diluted earnings per share because their effect would have been anti-dilutive (shares in thousands):

	Common shares
For the twenty-eight weeks ended July 13, 2013		113