Earnings Per Share

6 Months Ended

May. 30, 2015

Note 4: Earnings Per Share

A reconciliation of the common share components for the basic and diluted earnings per share calculations follows:

	13 Weeks Ended		26 Weeks Ended
	May 30,	May 31,	May 30,	May 31,
(Shares in thousands)	2015	2014	2015	2014
Weighted-average common shares - basic	50,345	49,956	50,267	49,933
Equivalent shares from share-based compensations plans	1,126	1,219	1,158	1,282
Weighted-average common and common equivalent shares - diluted	51,471	51,175	51,425	51,215

Basic earnings per share is calculated by dividing net income attributable to H.B. Fuller by the weighted-average number of common shares outstanding during the applicable period. Diluted earnings per share is based upon the weighted-average number of common and common equivalent shares outstanding during the applicable period. The difference between basic and diluted earnings per share is attributable to share-based compensation awards. We use the treasury stock method to calculate the effect of outstanding shares, which computes total employee proceeds as the sum of (a) the amount the employee must pay upon exercise of the award, (b) the amount of unearned share-based compensation costs attributed to future services and (c) the amount of tax benefits, if any, that would be credited to additional paid-in capital assuming exercise of the award. Share-based compensation awards for which total employee proceeds exceed the average market price over the applicable period have an antidilutive effect on earnings per share, and accordingly, are excluded from the calculation of diluted earnings per share.

Options to purchase 437,798 and 442,616 shares of common stock at a weighted-average exercise price of $48.59 for the 13 weeks and 26 weeks ended May 30, 2015, respectively, were excluded from the diluted earnings per share calculations because they were antidilutive. Options to purchase 407,145 shares of common stock at a weighted-average exercise price of $48.93 for the 13 weeks and 26 weeks ended May 31, 2014 were excluded from the diluted earnings per share calculations because they were antidilutive.