General (Tables)

9 Months Ended

Feb. 27, 2014

Schedule of Accumulated Other Comprehensive Income (Loss)

Accumulated other comprehensive loss presented in the accompanying consolidated balance sheets consists of the following, all presented net of tax:

	Swap Agreements		Available for Sale Investments		Pension Obligation		Accumulated Other Comprehensive Loss

	(in thousands)
Balance at May 30, 2013	$	18	$	(10)	$	(3,836)	$	(3,828)
Other comprehensive loss before reclassifications		(50)		(1)		-		(51)
Amounts reclassified from accumulated other comprehensive loss (1)		87		-		-		87
Net other comprehensive income (loss)		37		(1)		-		36
Balance at February 27, 2014	$	55	$	(11)	$	(3,836)	$	(3,792)

	Swap Agreements		Available for Sale Investments		Pension Obligation		Accumulated Other Comprehensive Loss

	(in thousands)
Balance at May 31, 2012	$	(58)	$	(8)	$	(4,073)	$	(4,139)
Other comprehensive income (loss) before reclassifications		-		-		-		-
Amounts reclassified from accumulated other comprehensive loss (1)		51		-		-		51
Net other comprehensive income		51		-		-		51
Balance at February 28, 2013	$	(7)	$	(8)	$	(4,073)	$	(4,088)

⁽¹⁾ Amounts are included in interest expense in the consolidated statements of earnings.

Schedule of Earnings Per Share, Basic and Diluted

The following table illustrates the computation of Common Stock and Class B Common Stock basic and diluted net earnings per share for net earnings and provides a reconciliation of the number of weighted-average basic and diluted shares outstanding:

	13 Weeks Ended February 27, 2014		13 Weeks Ended February 28, 2013		39 Weeks Ended February 27, 2014		39 Weeks Ended February 28, 2013
	(in thousands, except per share data)
Numerator:
Net earnings (loss) attributable to The Marcus Corporation	$	4,071	$	(1,372)	$	20,747	$	14,031
Denominator:
Denominator for basic EPS		26,986		27,254		27,039		28,105
Effect of dilutive employee stock options		50		20		44		19
Denominator for diluted EPS		27,036		27,274		27,083		28,124
Net earnings (loss) per share – basic:
Common Stock	$	0.16	$	(0.05)	$	0.79	$	0.56
Class B Common Stock	$	0.14	$	(0.05)	$	0.72	$	0.48
Net earnings (loss) per share – diluted:
Common Stock	$	0.15	$	(0.05)	$	0.77	$	0.50
Class B Common Stock	$	0.14	$	(0.05)	$	0.72	$	0.48

Components of Shareholders' Equity Activity Attributable to The Marcus Corporation and Noncontrolling Interests

Activity impacting total shareholders’ equity attributable to The Marcus Corporation and noncontrolling interests for the 39 weeks ended February 27, 2014 and February 28, 2013 was as follows:

	Total Shareholders’ Equity Attributable to The Marcus Corporation		Noncontrolling Interests

	(in thousands)
Balance at May 30, 2013	$	306,702	$	9,994
Net earnings attributable to The Marcus Corporation		20,747		–
Net loss attributable to noncontrolling interests		–		(4,146)
Distributions to noncontrolling interests		–		(1,060)
Cash dividends		(6,690)		–
Exercise of stock options		1,323		–
Treasury stock transactions, except for stock options		(3,497)		–
Share-based compensation		1,380		–
Other		86		–
Other comprehensive income, net of tax		36		–
Balance at February 27, 2014	$	320,087	$	4,788

	Total Shareholders’ Equity Attributable to The Marcus Corporation		Noncontrolling Interests
	(in thousands)
Balance at June 1, 2012	$	343,789	$	–
Net earnings attributable to The Marcus Corporation		14,031		–
Net earnings attributable to noncontrolling interests		–		5,713
Cash dividends		(35,615)		–
Exercise of stock options		1,476		–
Treasury stock transactions, except for stock options		(19,889)		–
Share-based compensation		1,333		–
Other		–		170
Equity contribution		–		4,000
Other comprehensive income, net of tax		51		–
Balance at February 28, 2013	$	305,176	$	9,883

Schedule of Net Benefit Costs

The components of the net periodic pension cost of the Company’s unfunded nonqualified, defined-benefit plan are as follows:

	13 Weeks Ended February 27, 2014		13 Weeks Ended February 28, 2013		39 Weeks Ended February 27, 2014		39 Weeks Ended February 28, 2013
	(in thousands)
Service cost	$	176	$	178	$	527	$	534
Interest cost		293		274		880		824
Net amortization of prior service cost and actuarial loss		67		72		201		215
Net periodic pension cost	$	536	$	524	$	1,608	$	1,573