Neiman Marcus 2002 Annual Report Download - page 64
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Letters of Credit. The Company had approximately $8.5 million of outstanding irrevocable letters of credit relating to purchase
commitments and insurance and other liabilities at August 2, 2003.
The Company had approximately $2.7 million in surety bonds at August 2, 2003 relating primarily to merchandise imports, state sales
tax and utility requirements.
Other. The Company's other principal commercial commitments are comprised of Pension Plan funding obligations, short-term
merchandise purchase commitments, short-term construction commitments, common area maintenance costs, tax and insurance
obligations and contingent rent payments. Substantially all of the Company's merchandise purchase commitments are cancelable up
to 30 days prior to the vendor's scheduled shipment date.
NOTE 13. Earnings Per Share
The weighted average shares used in computing basic and diluted earnings per share (EPS) are presented in the table below. No
adjustments were made to net earnings for the computations of basic and diluted EPS during the periods presented.
Years Ended
(in thousands of shares)
August 2,
2003
August 3,
2002
July 28,
2001
Weighted average shares outstanding 47,750 47,726 47,479
Less: shares of non-vested restricted stock (288)(282)(359)
Shares for computation of basic EPS 47,462 47,444 47,120
Effect of dilutive stock options and restricted stock 333 391 466
Shares for computation of diluted EPS 47,795 47,835 47,586
Shares represented by antidilutive stock options 1,469 1,223 954
Antidilutive stock options were not included in the computation of diluted EPS because the exercise price of those options was greater
than the average market price of the common shares.
F-30