Albertsons 2007 Annual Report Download - page 107

SU
PERVAL
U
IN
C
. and
S
ubsidiaries
N
OTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
N
O
TE 14—EARNIN
GS
PER
S
HARE
B
as
i
c EPS
i
sca
l
cu
l
ate
d
us
i
n
g
net earn
i
n
g
s ava
il
a
bl
e to common s
h
are
h
o
ld
ers
di
v
id
e
dby
t
h
ewe
igh
te
d
avera
g
e
number of common shares outstandin
g
durin
g
the period. Diluted EPS is similar to basic EPS except that th
e
w
e
i
g
h
te
d
average num
b
er o
f
common s
h
ares outstan
di
ng
i
sa
f
ter g
i
v
i
ng a
ff
ect to t
h
e
dil
ut
i
ve
i
mpacts o
f
stoc
k
o
pt
i
ons, restr
i
cte
d
stoc
k
awar
d
san
d
outstan
di
n
g
convert
ibl
e secur
i
t
i
es. In a
ddi
t
i
on,
f
or t
h
eca
l
cu
l
at
i
on o
f dil
ute
d
earnin
g
s per share, net earnin
g
sisad
j
usted to eliminate the after tax interest expense reco
g
nized durin
g
the
period related to contingently convertible debentures. Effective on August 31, 200
6
, in conjunction with th
e
C
ompan
y
’s announcement o
fi
ts
i
ntent to use cas
h
to repurc
h
ase t
h
e cont
i
n
g
ent
ly
convert
ibl
e
d
e
b
entures, t
he
d
ebentures were no lon
g
er considered dilutive for the calculation of diluted earnin
g
s per share.
T
he followin
g
table reflects the calculation of basic and diluted earnin
g
s per share:
2
00
7 2
006
200
5
Earn
i
ngs per s
h
are—
b
as
i
c
:
Net earnings
$
452
$
206
$
386
W
ei
g
hted avera
g
e shares outstandin
g
—basic 189 136 13
5
Earnin
g
s per share—basic $2.38 $1.52 $2.8
6
Earn
i
ngs per s
h
are—
dil
ute
d
:
Net earnings
$
452
$
206
$
386
Interest related to dilutive contingently convertible debentures, net of
t
ax
3
77
Net earnings used for diluted earnings per share calculation
$
455
$
213
$
393
W
eighted average shares outstanding—basic 189 136 13
5
D
ilutive impact of options and restricted stock outstandin
g
322
D
ilutive im
p
act of convertible securities 4 8 8
W
ei
g
hted avera
g
e shares—diluted 196 146 145
Earnin
g
s per share—diluted
$
2.32
$
1.46
$
2.71
Options to purchase 11, 3, and 1 shares of common stock were outstandin
g
durin
g
the
5
2 week period ended
February 24, 2007, February 2
5
, 2006 and February 26, 2004, respectively, but were excluded from th
e
computat
i
on o
f dil
ute
d
earn
i
ngs per s
h
are
b
ecause t
h
ey were not
dil
ut
i
ve.
N
O
TE 15—BENEFIT PLAN
S
E
mployee Bene
f
it Plans
Substantiall
y
all emplo
y
ees of the Compan
y
and its subsidiaries are covered b
y
various contributor
y
an
d
non-contr
ib
utory pens
i
on or pro
fi
ts
h
ar
i
ng p
l
ans. Un
i
on emp
l
oyees part
i
c
i
pate
i
nmu
l
t
i
-emp
l
oyer ret
i
rement p
l
ans
u
n
d
er co
ll
ect
i
ve
b
ar
g
a
i
n
i
n
g
a
g
reements, un
l
ess t
h
eco
ll
ect
i
ve
b
ar
g
a
i
n
i
n
g
a
g
reement prov
id
es
f
or part
i
c
i
pat
i
on
i
n
plans sponsored b
y
the Compan
y
. In addition to sponsorin
g
both defined benefit and defined contributio
n
pens
i
on p
l
ans, t
h
e Company prov
id
es
h
ea
l
t
h
care an
d lif
e
i
nsurance
b
ene
fi
ts
f
or e
li
g
ibl
e ret
i
re
d
emp
l
oyees un
d
er
postret
i
rement
b
ene
fi
tp
l
ans, an
d
s
h
ort-term an
dl
on
g
-term
di
sa
bili
t
yb
ene
fi
ts to
f
ormer an
di
nact
i
ve emp
l
o
y
ees
prior to retirement under post-emplo
y
ment benefit plans
.
F-
41