Net Income Per Share

3 Months Ended

Nov. 24, 2012

Net Income Per Share [Abstract]

Net Income Per Share

6. 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
	November 24,		November 26,
	2012		2011
Net income available to shareholders	$	30,760	$	25,802
Allocation of net income for Basic:
Common Stock	$	24,191	$	20,258
Class B Common Stock		6,025		5,068
Unvested participating shares		544		476
	$	30,760	$	25,802
Weighted average number of shares for Basic:
Common Stock		14,925		14,838
Class B Common Stock		4,647		4,641
Unvested participating shares		383		398
		19,955		19,877
Earnings per share for Basic:
Common Stock	$	1.62	$	1.37
Class B Common Stock	$	1.30	$	1.09

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 weeks ended November 24, 2012 and November 26, 2011, the Company's diluted EPS assumes the conversion of the 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 ended November 24, 2012							Thirteen weeks ended November 26, 2011
	Earnings							Earnings
	to Common			Common				to Common			Common
	shareholders			Shares		EPS		shareholders			Shares		EPS
As reported - Basic	$	24,191			14,925	$	1.62	$	20,258			14,838	$	1.37
Add: effect of dilutive potential common shares
Share-Based Awards		-			121				-			78
Class B Common Stock		6,025			4,647				5,068			4,641
Add: Undistributed earnings allocated to unvested participating shares		531			-				463			-
Less: Undistributed earnings reallocated to unvested participating shares		(503	)		-				(439	)		-
Diluted EPS - Common Stock		30,244			19,693	$	1.54		25,350			19,557	$	1.30

There were no share-based awards that were excluded from the calculation of diluted earnings per share for the thirteen weeks ended November 24, 2012 because they were anti-dilutive.  Share-based awards that would result in the issuance 18,014 shares of Common Stock were excluded from the calculation of diluted earnings per share for the thirteen weeks ended November 26, 2011 because they were anti-dilutive.