Whole Foods 2014 Annual Report Download - page 53

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50
Share repurchase activity for the fiscal years indicated was as follows (in millions, except per share amounts):
2014 2013
Number of common shares acquired 13.9 2.6
Average price per common share acquired $ 41.51 $ 48.70
Total cost of common shares acquired $ 578 $ 125
Subsequent to fiscal year end, the Company repurchased approximately 0.9 million shares of the Company’s common stock at
an average price per share of $47.39 for a total of approximately $43 million bringing the total current available authorization
to approximately $857 million.
(11) Earnings per Share
The computation of basic earnings per share is based on the number of weighted average common shares outstanding during
the period. The computation of diluted earnings per share includes the dilutive effect of common stock equivalents consisting
of incremental common shares deemed outstanding from the assumed exercise of stock options and the dilutive effect of restricted
stock awards.
A reconciliation of the numerators and denominators of the basic and diluted earnings per share calculations follows (in millions,
except per share amounts):
2014 2013 2012
Net income (numerator for basic and diluted earnings per share) $ 579 $ 551 $ 466
Weighted average common shares outstanding
(denominator for basic earnings per share) 367.8 371.2 364.8
Incremental common shares attributable to dilutive
effect of share-based awards 2.7 3.3 4.1
Weighted average common shares outstanding and potential additional
common shares outstanding(denominator for diluted earnings per share) 370.5 374.5 368.9
Basic earnings per share $ 1.57 $ 1.48 $ 1.28
Diluted earnings per share $ 1.56 $ 1.47 $ 1.26
The computation of diluted earnings per share for fiscal years 2014, 2013 and 2012 does not include share-based awards to
purchase approximately 9.1 million shares, 7.1 million shares and 0.8 million shares of common stock, respectively, due to their
antidilutive effect.
(12) Share-Based Payments
Share-based payment expense before income taxes recognized during fiscal years 2014, 2013 and 2012 totaled approximately
$68 million, $57 million and $42 million, respectively. Share-based payment expense was included in the following line items
on the Consolidated Statements of Operations for the fiscal years indicated (in millions):
2014 2013 2012
Cost of goods sold and occupancy costs $ 2 $ 2 $ 2
Direct store expenses 34 32 22
General and administrative expenses 32 23 18
Share-based payment expense before income taxes 68 57 42
Income tax benefit (26) (22) (16)
Net share-based payment expense $ 42 $ 35 $ 26
At September 28, 2014, September 29, 2013 and September 30, 2012 approximately 37.6 million shares, 42.3 million shares
and 16.8 million shares of the Company’s common stock, respectively, were available for future stock incentive grants.