Income Per Share

9 Months Ended

May 31, 2025

8. Income Per Share

The Company calculates income per share by allocating income to its unvested participating securities as part of its income per share calculations. The following table sets forth the computation of basic income per share using the two-class method for amounts attributable to the Company’s shares of Common Stock and Class B Common Stock (in thousands, except per share data):


	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
	May 31, 2025		May 25, 2024		May 31, 2025		May 25, 2024
Net income available to shareholders	$	39,680	$	38,057	$	107,244	$	100,839
Allocation of net income for Basic:
Common Stock	$	33,346	$	31,962	$	90,126	$	84,716
Class B Common Stock		6,334		6,095		17,118		16,123
	$	39,680	$	38,057	$	107,244	$	100,839
Weighted average number of shares for Basic:
Common Stock		14,990		15,062		15,007		15,094
Class B Common Stock		3,557		3,590		3,563		3,590
		18,547		18,652		18,570		18,684
Income per share for Basic:
Common Stock	$	2.22	$	2.12	$	6.01	$	5.61
Class B Common Stock	$	1.78	$	1.70	$	4.80	$	4.49

The Company is required to calculate diluted income per share for Common Stock using the more dilutive of the following two methods:

•

The treasury stock method; or

•

The two-class method assuming a participating security is not exercised or converted.

For the thirteen and thirty-nine weeks ended May 31, 2025 and May 25, 2024, the Company’s diluted income per share assumes the conversion of all vested Class B Common Stock into Common Stock and uses the two-class method for its unvested participating shares. The following tables set forth the computation of diluted income per share of Common Stock for the thirteen and thirty-nine weeks ended May 31, 2025 and May 25, 2024 (in thousands, except per share data):


	Thirteen Weeks Ended May 31, 2025						Thirty-Nine Weeks Ended May 31, 2025
	Earnings to Common Shareholders		Common Shares		Income Per Share		Earnings to Common Shareholders		Common Shares		Income Per Share
As reported - Basic	$	33,346		14,990	$	2.22	$	90,126		15,007	$	6.01
Add: effect of dilutive potential common shares
Share-Based Awards		—		60				—		63
Class B Common Stock		6,334		3,557				17,118		3,563
As reported – Diluted	$	39,680		18,607	$	2.13	$	107,244		18,633	$	5.76


	Thirteen Weeks Ended May 25, 2024						Thirty-Nine Weeks Ended May 25, 2024
	Earnings to Common Shareholders		Common Shares		Income Per Share		Earnings to Common Shareholders		Common Shares		Income Per Share
As reported - Basic	$	31,962		15,062	$	2.12	$	84,716		15,094	$	5.61
Add: effect of dilutive potential common shares
Share-Based Awards		—		53				—		54
Class B Common Stock		6,095		3,590				16,123		3,590
As reported – Diluted	$	38,057		18,705	$	2.03	$	100,839		18,738	$	5.38

Anti-dilutive stock-based awards excluded from the calculations of diluted income per share were immaterial during the periods presented.