EARNINGS PER COMMON SHARE

9 Months Ended

Nov. 04, 2023

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE

4. EARNINGS PER COMMON SHARE

Net earnings attributable to The Kroger Co. per basic common share equals 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 equals 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 4, 2023					November 5, 2022
				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	$	641	719	$	0.89	$	395	716	$	0.55
Dilutive effect of stock options			6					8
Net earnings attributable to The Kroger Co. per diluted common share	$	641	725	$	0.88	$	395	724	$	0.55

	Three Quarters Ended					Three Quarters Ended
	November 4, 2023					November 5, 2022
				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	$	1,416	718	$	1.97	$	1,777	719	$	2.47
Dilutive effect of stock options			7					9
Net earnings attributable to The Kroger Co. per diluted common share	$	1,416	725	$	1.95	$	1,777	728	$	2.44

The Company had combined undistributed and distributed earnings to participating securities totaling $5 and $3 in the third quarters of 2023 and 2022, respectively. For the first three quarters of 2023 and 2022, the Company had combined undistributed and distributed earnings to participating securities of $12 and $16, respectively.

The Company had options outstanding for approximately 3 million shares and 2 million shares during the third quarters of 2023 and 2022, 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 3 million and 2 million shares during each of the first three quarters of 2023 and 2022, 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.