EARNINGS PER COMMON SHARE

9 Months Ended

Nov. 05, 2022

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:

	Third Quarter Ended					Third Quarter Ended
	November 5, 2022					November 6, 2021
				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	$	395	716	$	0.55	$	478	742	$	0.64
Dilutive effect of stock options			8					10
Net earnings attributable to The Kroger Co. per diluted common share	$	395	724	$	0.55	$	478	752	$	0.64

	Three Quarters Ended					Three Quarters Ended
	November 5, 2022					November 6, 2021
				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	$	1,777	719	$	2.47	$	1,079	747	$	1.44
Dilutive effect of stock options			9					10
Net earnings attributable to The Kroger Co. per diluted common share	$	1,777	728	$	2.44	$	1,079	757	$	1.43

The Company had combined undistributed and distributed earnings to participating securities totaling $3 and $5 in the third quarters of 2022 and 2021, respectively. For the first three quarters of 2022 and 2021, the Company had combined undistributed and distributed earnings to participating securities of $16 and $11, respectively.

The Company had options outstanding for approximately 2 million shares and 1 million shares during the third quarters of 2022 and 2021, 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 2 million and 3 million shares during each of the first three quarters of 2022 and 2021, 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.