EARNINGS PER COMMON SHARE

6 Months Ended

Aug. 15, 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:

	Second Quarter Ended					Second Quarter Ended
	August 15, 2020					August 17, 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	$	809	777	$	1.04	$	294	800	$	0.37
Dilutive effect of stock options			9					5
Net earnings attributable to The Kroger Co. per diluted common share	$	809	786	$	1.03	$	294	805	$	0.37

	Two Quarters Ended					Two Quarters Ended
	August 15, 2020					August 17, 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	$	2,006	779	$	2.58	$	1,057	799	$	1.32
Dilutive effect of stock options			8					6
Net earnings attributable to The Kroger Co. per diluted common share	$	2,006	787	$	2.55	$	1,057	805	$	1.31

The Company had combined undistributed and distributed earnings to participating securities totaling $10 and $3 in the second quarter of 2020 and 2019, respectively. For the first two quarters of 2020 and 2019, the Company had combined undistributed and distributed earnings to participating securities of $25 and $12, respectively.

The Company had options outstanding for approximately 9 million and 27 million shares during the second quarter 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. The Company had options outstanding for approximately 10 million and 24 million shares during the first two 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.