Macy's 2011 Annual Report Download - page 81

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
F-41
15. Earnings Per Share
The following table sets forth the computation of basic and diluted earnings per share:
2011 2010 2009
Net
Income Shares Net
Income Shares Net
Income Shares
(millions, except per share data)
Net income and average number of
shares outstanding ........................ $ 1,256 423.5 $ 847 422.2 $ 329 420.4
Shares to be issued under deferred
compensation plans ...................... 1.0 1.1 1.3
$ 1,256 424.5 $ 847 423.3 $ 329 421.7
Basic earnings per share.............. $ 2.96 $ 2.00 $ 0.78
Effect of dilutive securities –
Stock options, restricted stock
and restricted stock units ......... 5.9 4.0 1.5
$ 1,256 430.4 $ 847 427.3 $ 329 423.2
Diluted earnings per share........... $ 2.92 $ 1.98 $ 0.78
In addition to the stock options, restricted stock and restricted stock units reflected in the foregoing table, stock options to
purchase 9.3 million shares of common stock and restricted stock units relating to 2.1 million shares of common stock were
outstanding at January 28, 2012, stock options to purchase 24.8 million shares of common stock and restricted stock units
relating to 1.0 million shares of common stock were outstanding at January 29, 2011, and stock options to purchase 28.9 million
of shares of common stock, 75,000 shares of restricted stock and restricted stock units relating to 2.9 million shares of common
stock were outstanding at January 30, 2010, but were not included in the computation of diluted earnings per share for 2011,
2010 and 2009, respectively, because their inclusion would have been antidilutive or these shares were subject to performance
conditions that had not been met.