Earnings Per Share

6 Months Ended

Jun. 28, 2011

Earnings Per Share [Abstract]

Earnings Per Share

Note 11. Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except for per share data):

	For the 13 Weeks Ended				For the 26 Weeks Ended
	June 28, 2011		June 29, 2010		June 28, 2011		June 29, 2010
Amounts used for basic and diluted per share calculations:
Net income attributable to Panera Bread Company	$	35,710	$	26,704	$	68,484	$	52,549
Weighted average number of shares outstanding — basic		29,867		31,195		29,848		31,183
Effect of dilutive stock-based employee compensation awards		331		317		325		336
Weighted average number of shares outstanding — diluted		30,198		31,512		30,173		31,519
Earnings per common share attributable to Panera Bread Company:
Basic	$	1.20	$	0.86	$	2.29	$	1.69
Diluted	$	1.18	$	0.85	$	2.27	$	1.67

For the thirteen and twenty-six weeks ended June 28, 2011, and June 29, 2010, weighted-average outstanding stock options, restricted stock, and stock-settled appreciation rights of less than 0.1 million shares, respectively, were excluded in calculating diluted earnings per share as the exercise price exceeded fair market value and the inclusion of such shares would have been antidilutive.