Earnings per Share

12 Months Ended

Feb. 27, 2021

Basic earnings per share is computed by dividing net earnings by the weighted average number of common shares outstanding. Diluted earnings per share is computed by dividing net earnings by the weighted average number of common shares outstanding, including the dilutive effects of stock options, SARs and nonvested shares. The following table presents a reconciliation of the share amounts used in the computation of basic and diluted earnings per share:


(In thousands)	2021	2020	2019
Basic earnings per share - weighted average common shares outstanding	25,955	26,474	27,802
Weighted average effect of nonvested share grants and assumed exercise of stock options	349	255	280
Diluted earnings per share - weighted average common shares and potential common shares outstanding	26,304	26,729	28,082
Stock awards excluded from the calculation of earnings per share because the award price was greater than the average market price of the common shares	111	99	134