EARNINGS PER COMMON SHARE

4 Months Ended

May 23, 2020

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE

4. EARNINGS PER COMMON SHARE

Net earnings attributable to The Kroger Co. per basic common share equal net earnings attributable to The Kroger Co. less income allocated to participating securities divided by the weighted-average number of common shares outstanding. Net earnings attributable to The Kroger Co. per diluted common share equal net earnings attributable to The Kroger Co. less income allocated to participating securities divided by the weighted-average number of common shares outstanding, after giving effect to dilutive stock options. The following table provides a reconciliation of net earnings attributable to The Kroger Co. and shares used in calculating net earnings attributable to The Kroger Co. per basic common share to those used in calculating net earnings attributable to The Kroger Co. per diluted common share:

	First Quarter Ended					First Quarter Ended
	May 23, 2020					May 25, 2019
				Per					Per
	Earnings		Shares	Share		Earnings		Shares	Share
	(Numerator)		(Denominator)	Amount		(Numerator)		(Denominator)	Amount
Net earnings attributable to The Kroger Co. per basic common share	$	1,197	780	$	1.53	$	764	798	$	0.96
Dilutive effect of stock options			8					7
Net earnings attributable to The Kroger Co. per diluted common share	$	1,197	788	$	1.52	$	764	805	$	0.95

The Company had combined undistributed and distributed earnings to participating securities totaling $15 and $8 in the first quarters of 2020 and 2019, respectively.

The Company had options outstanding for approximately 11 million and 16 million shares during the first quarters of 2020 and 2019, respectively, that were excluded from the computations of net earnings per diluted common share because their inclusion would have had an anti-dilutive effect on net earnings per share.