Net Income Per Share

6 Months Ended

Feb. 25, 2012

Net Income Per Share [Abstract]

Net Income Per Share

7.Net Income Per Share

The Company calculates net income per share in accordance with US GAAP, which requires the Company to allocate income to its unvested participating securities as part of its earnings per share ("EPS") calculations.  The following table sets forth the computation of basic earnings 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				Twenty-six weeks ended
	February 25,		February 26,		February 25,		February 26,
	2012		2011		2012		2011
Net income	$	19,196	$	16,277	$	44,998	$	40,041
Allocation of net income for Basic:
Common Stock	$	15,081	$	12,750	$	35,341	$	31,356
Class B Common Stock		3,765		3,218		8,832		7,921
Unvested participating shares		350		309		825		764
	$	19,196	$	16,277	$	44,998	$	40,041
Weighted average number of shares for Basic:
Common Stock		14,873		14,778		14,856		14,766
Class B Common Stock		4,640		4,661		4,640		4,662
Unvested participating shares		394		408		396		410
		19,907		19,847		19,892		19,838
Earnings per share for Basic:
Common Stock	$	1.01	$	0.86	$	2.38	$	2.12
Class B Common Stock	$	0.81	$	0.69	$	1.90	$	1.70

For diluted EPS, the Company is required to calculate diluted EPS 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 twenty-six weeks ended February 25, 2012, the Company's diluted EPS assumes the conversion of all vested Class B Common Stock into Common Stock and uses the two-class method for its unvested participating shares as follows (in thousands, except per share data):

	Thirteen weeks							Twenty-six weeks
	ended February 25, 2012							ended February 25, 2012
	Earnings							Earnings
	to Common			Common				to Common			Common
	shareholders			Shares		EPS		shareholders			Shares		EPS
As reported - Basic	$	15,081			14,873	$	1.01	$	35,341			14,856	$	2.38
Add: effect of dilutive potential common shares
Share-based awards		-			92				-			79
Class B Common Stock		3,765			4,640				8,832			4,640
Add: Undistributed earnings allocated to
unvested participating shares		337			-				799			-
Less: Undistributed earnings reallocated to
unvested participating shares		(320	)		-				(759	)		-
Diluted EPS - Common Stock	$	18,863			19,605	$	0.96	$	44,213			19,575	$	2.26

Share-based awards that would result in the issuance of 17,454 and 16,369 shares of Common Stock were excluded from the calculation of diluted earnings per share for the thirteen and twenty-six weeks ended February 25, 2012, respectively, because they were anti-dilutive.

For the thirteen and twenty-six weeks ended February 26, 2011, the Company's diluted EPS assumes the conversion of all vested Class B Common Stock into Common Stock and uses the two-class method for its unvested participating shares as follows (in thousands, except per share data):

	Thirteen weeks							Twenty-six weeks
	ended February 26, 2011							ended February 26, 2011
	Earnings							Earnings
	to Common			Common				to Common			Common
	shareholders			Shares		EPS		shareholders			Shares		EPS
As reported - Basic	$	12,750			14,778	$	0.86	$	31,356			14,766	$	2.12
Add: effect of dilutive potential common shares
Share-based awards		-			89				-			75
Class B Common Stock		3,218			4,661				7,921			4,662
Add: Undistributed earnings allocated to
unvested participating shares		295			-				737			-
Less: Undistributed earnings reallocated to
unvested participating shares		(280	)		-				(700	)		-
Diluted EPS - Common Stock	$	15,983			19,528	$	0.82	$	39,314			19,503	$	2.02

Share-based awards that would result in the issuance of 19,197 and 127,780 shares of Common Stock were excluded from the calculation of diluted earnings per share for the thirteen and twenty-six weeks ended February 26, 2011, respectively, because they were anti-dilutive.