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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Sep. 27, 2013
Computation of Net Basic and Diluted Earnings Per Share

Basic net earnings per share is computed by dividing net earnings by the weighted average number of shares of VMS common stock outstanding for the period. Diluted net earnings per share is computed by dividing net earnings by the sum of the weighted average number of common shares outstanding and dilutive common shares under the treasury stock method.

The following table sets forth the computation of net basic and diluted earnings per share:

 

 

Fiscal Years

 

(In thousands, except per share amounts)

2013

 

  

2012

 

  

2011

 

Earnings from continuing operations             

$

  438,248

  

  

$

  427,049

  

  

$

  408,626

  

Loss from discontinued operations, net of taxes             

 

-

  

  

 

-

  

  

 

(9,693

) 

Net earnings             

$

  438,248

  

  

$

  427,049

  

  

$

  398,933

  

Weighted average shares outstanding - basic             

 

  108,352

  

  

 

  111,376

  

  

 

  116,703

  

Dilutive effect of potential common shares             

 

  1,701

  

  

 

  2,097

  

  

 

  2,032

  

Weighted average shares outstanding - diluted             

 

  110,053

  

  

 

  113,473

  

  

 

  118,735

  

Net earnings (loss) per share - basic:

 

 

 

  

 

 

 

  

 

 

 

Continuing operations             

$

  4.04

  

  

$

  3.83

  

  

$

  3.50

  

Discontinued operations             

 

-

  

  

 

-

  

  

 

(0.08

) 

Net earnings per share             

$

  4.04

  

  

$

  3.83

  

  

$

  3.42

  

Net earnings (loss) per share - diluted:

 

 

 

  

 

 

 

  

 

 

 

Continuing operations             

$

  3.98

  

  

$

  3.76

  

  

$

  3.44

  

Discontinued operations             

 

-

  

  

 

-

  

  

 

(0.08

) 

Net earnings per share             

$

  3.98

  

  

$

  3.76

  

  

$

  3.36

  

Anti-dilutive employee share-based awards, excluded

 

  707

 

 

 

  249

 

 

 

  160