WeightWatchers 2013 Annual Report Download - page 106

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WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
8. Earnings Per Share
Basic earnings per share (“EPS”) are calculated utilizing the weighted average number of common shares
outstanding during the periods presented. Diluted EPS is calculated utilizing the weighted average number of
common shares outstanding during the periods presented adjusted for the effect of dilutive common stock
equivalents.
The following table sets forth the computation of basic and diluted EPS for the fiscal years ended:
December 28,
2013
December 29,
2012
December 31,
2011
Numerator:
Net income attributable to Weight Watchers International, Inc. . . $204,725 $257,426 $304,867
Denominator:
Weighted average shares of common stock outstanding ........ 56,144 60,294 73,344
Effect of dilutive common stock equivalents ................. 250 629 787
Weighted average diluted common shares outstanding ......... 56,394 60,923 74,131
EPS attributable to Weight Watchers International, Inc.
Basic ................................................ $ 3.65 $ 4.27 $ 4.16
Diluted ............................................... $ 3.63 $ 4.23 $ 4.11
The number of anti-dilutive common stock equivalents excluded from the calculation of the weighted
average number of common shares for diluted EPS was 1,285, 536 and 188 for the years ended December 28,
2013, December 29, 2012 and December 31, 2011, respectively.
9. Stock Plans
Incentive Compensation Plans
On May 6, 2008 and May 12, 2004, respectively, the Company’s shareholders approved the 2008 Stock
Incentive Plan (the “2008 Plan”) and the 2004 Stock Incentive Plan (the “2004 Plan” and together with the 2008
Plan, the “Stock Plans”). These plans are designed to promote the long-term financial interests and growth of the
Company by attracting, motivating and retaining employees with the ability to contribute to the success of the
business and to align compensation for the Company’s employees over a multi-year period directly with the
interests of the shareholders of the Company. The Company’s Board of Directors or a committee thereof
administers the Stock Plans.
Under the 2008 Plan, grants may take the following forms at the Compensation and Benefit Committee’s
discretion: non-qualified stock options, incentive stock options, stock appreciation rights, restricted stock units
(“RSUs”), restricted stock and other share-based awards. As of its effective date, the maximum number of shares
of common stock available for grant under the 2008 Plan was 3,000, subject to increase and adjustment as set
forth in the 2008 Plan. Pursuant to the terms of the 2008 Plan, the number of shares of our common stock
available for issuance under the 2008 Plan was increased by 550, the remaining number of shares of our common
stock with respect to which awards could be granted under the Company’s 1999 Stock Purchase and Option Plan
upon its termination.
F-20