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
	November 24, 2018		November 25, 2017

Net income available to shareholders	$	38,320	$	34,206

Allocation of net income for Basic:
Common Stock	$	32,137	$	27,384
Class B Common Stock	6,183		6,822
	$	38,320	$	34,206

Weighted average number of shares for Basic:
Common Stock	15,432		15,462
Class B Common Stock	3,710		4,816
	19,142		20,278

Income per share for Basic:
Common Stock	$	2.08	$	1.77
Class B Common Stock	$	1.67	$	1.42

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 weeks ended November 24, 2018 and November 25, 2017, 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 table sets forth the computation of diluted income per share of Common Stock for the thirteen weeks ended November 24, 2018 and November 25, 2017 (in thousands, except per share data):



	Thirteen weeks ended November 24, 2018					Thirteen weeks ended November 25, 2017
	Earnings to Common Shareholders		Common Shares	Income Per Share		Earnings to Common Shareholders		Common Shares	Income Per Share

As reported - Basic	$	32,137	15,432	$	2.08	$	27,384	15,462	$	1.77

Add: effect of dilutive potential common shares
Share-Based Awards	—		160			—		156
Class B Common Stock	6,183		3,710			6,822		4,816

As reported – Diluted	$	38,320	19,302	$	1.99	$	34,206	20,434	$	1.67

Share-based awards that would result in the issuance of 10,156 shares of Common Stock were excluded from the calculation of diluted income per share for the thirteen weeks ended November 24, 2018 because they were anti-dilutive. Share-based awards that would result in the issuance of 117 shares of Common Stock were excluded from the calculation of diluted income per share for the thirteen weeks ended November 25, 2017 because they were anti-dilutive.