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Summary of Significant Accounting Policies
 3 Months Ended
Mar. 30, 2013
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies

(a)
Basis of Presentation

The consolidated financial statements include the accounts of Darling and its consolidated subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.

(b)
Fiscal Periods

The Company has a 52/53 week fiscal year ending on the Saturday nearest December 31.  Fiscal periods for the consolidated financial statements included herein are as of March 30, 2013, and include the 13 weeks ended March 30, 2013, and the 13 weeks ended March 31, 2012.


(c)
Reclassifications

Certain prior year amounts have been reclassified to conform to the current year presentation.

(d)
Earnings Per Share

Basic income per common share is computed by dividing net income by the weighted average number of common shares including non-vested and restricted shares outstanding during the period.  Diluted income per common share is computed by dividing net income by the weighted average number of common shares outstanding during the period increased by dilutive common equivalent shares determined using the treasury stock method.

 
Net Income per Common Share (in thousands, except per share data)
 
Three Months Ended
 
 
 
March 30, 2013
 
 
 
 
 
March 31, 2012
 
 
 
Income
 
Shares
 
Per Share
 
Income
 
Shares
 
Per Share
Basic:
 
 
 
 
 
 
 
 
 
 
 
Net Income
$
32,405

 
117,915

 
$
0.27

 
$
28,571

 
117,302

 
$
0.24

Diluted:
 

 
 

 
 

 
 

 
 

 
 

Effect of dilutive securities:
 

 
 

 
 

 
 

 
 

 
 

Add: Option shares in the money and dilutive effect of non-vested stock
 

 
690

 
 

 
 

 
875

 
 

Less: Pro forma treasury shares
 

 
(312
)
 
 

 
 

 
(347
)
 
 

Diluted:
 

 
 

 
 

 
 

 
 

 
 

Net income
$
32,405

 
118,293

 
$
0.27

 
$
28,571

 
117,830

 
$
0.24

 
 
 
 
 
 
 
 
 
 
 
 

For the three months ended March 30, 2013 and March 31, 2012, respectively, 191,628 and 211,890 outstanding stock options were excluded from diluted income per common share as the effect was antidilutive. For the three months ended March 30, 2013 and March 31, 2012, respectively, 64,180 and 123,260 shares of non-vested stock were excluded from diluted income per common share as the effect was antidilutive.