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7. NET EARNINGS PER SHARE
Following is a reconciliation of net earnings and weighted average common shares outstanding for purposes of
calculating basic and diluted earnings per share:
Fiscal Year 2002 2001
Income Shares Per Share Income Shares Per Share
(Numerator) (Denominator) Amount (Numerator) (Denominator) Amount
Basic EPS
Net income $ 99,948 66,362 $1.51 $ 63,967 66,393 $0.96
Effect of diluted securities
Options -- 2,091 -- 3,207
Convertible debt 10,249
(a)
9,227 8,821
(a)
8,239
110,197 72,788
Effect of GameStop dilutive EPS
(b)
GameStop net income
less minority interest 33,262 --
76,935 72,788
GameStop diluted EPS $0.87
GameStop shares owned
by Barnes & Noble 36,009 31,328 --
$108,263 77,680 $1.39 $ 72,788 77,839 $0.94
(a) Represents interest on convertible subordinated notes, net of taxes.
(b) In February 2002, GameStop completed an initial public offering (IPO). Prior to the IPO, GameStop was a consolidated wholly-owned
subsidiary of Barnes & Noble, Inc.
[NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS continued ]
35
2002 Annual Report Barnes & Noble, Inc.