Earnings Per Share

6 Months Ended

Feb. 29, 2020

asic earnings per share is based on the weighted average number of common shares issued and outstanding. In periods in which the Company has net income, diluted earnings per share is based on the weighted average number of common shares issued and outstanding and the effect of all dilutive common stock equivalents outstanding during each period.

In periods in which the Company has a net loss, diluted earnings per share is based on the weighted average number of common shares issued and outstanding. The effect of including common stock equivalents outstanding is considered anti-dilutive.

The following table reconciles the numerators and denominators used in the computations of both basic and diluted earnings per share:



	Thirteen Weeks Ended				Twenty-Six Weeks Ended
(In thousands, except per share data)	February 29, 2020		February 23, 2019		February 29, 2020		February 23, 2019
Basic earnings per share computation:
Numerator:
Net income	$	10,657	$	12,722	$	5,864	$	27,979
Denominator:
Weighted average common shares - basic	95,339,489		81,900,352		92,524,061		79,595,330
Basic earnings per share from net income	$	0.11	$	0.16	$	0.06	$	0.35
Diluted earnings per share computation:
Numerator:
Net income	$	10,657	$	12,722	$	5,864	$	27,979
Denominator:
Weighted average common shares outstanding - basic	95,339,489		81,900,352		92,524,061		79,595,330
Public and Private Warrants	3,706,986		2,745,135		3,766,141		3,818,870
Employee stock options	1,173,631		664,950		1,194,968		612,304
Non-vested shares	116,465		39,759		112,444		35,975
Weighted average common shares - diluted	100,336,571		85,350,196		97,597,614		84,062,479
Diluted earnings per share from net income	$	0.11	$	0.15	$	0.06	$	0.33

Earnings per share calculations for the thirteen weeks ended February 29, 2020 and February 23, 2019 excluded 0.4 million and 0.4 million shares of stock options issuable upon exercise, respectively, that would have been anti-dilutive. Earnings per share calculations for the thirteen weeks ended February 23, 2019 excluded 0.1 million non-vested shares that would have been anti-dilutive.

Earnings per share calculations for the twenty-six weeks ended February 29, 2020 and February 23, 2019 excluded 0.3 million and 0.3 million shares of stock options issuable upon exercise, respectively, that would have been anti-dilutive. Earnings per share calculations for the twenty-six weeks ended February 23, 2019 excluded 0.1 million non-vested shares that would have been anti-dilutive.