DSW 2012 Annual Report Download - page 60

F- 20
included in the calculation of the net income and the corresponding shares were excluded from the diluted share count, if the
effect was anti-dilutive.
The following is a reconciliation of the net income used in the calculation of diluted earnings per share computations for the
periods presented for net income from continuing operations, net of noncontrolling interests:
Fiscal years ended
February 2, 2013 January 28, 2012 January 29, 2011
(in thousands)
Net income from continuing operations, net of noncontrolling interests for
basic earnings per share $ 145,186 $ 179,643 $ 11,166
Less: (gain) in fair value of PIES, net of tax effected interest expense,
amortization of debt discount and amortization of deferred financing fees —(6,019) —
Net income from continuing operations, net of noncontrolling interests for
diluted earnings per share $ 145,186 $ 173,624 $ 11,166
The following is a reconciliation of the net income used in the calculation of diluted earnings per share computations for the
periods presented for net income, net of noncontrolling interests:
Fiscal years ended
February 2, 2013 January 28, 2012 January 29, 2011
(in thousands)
Net income, net of noncontrolling interests for basic earnings per share $ 146,439 $ 174,788 $ 17,794
Less: (gain) in fair value of PIES, net of tax effected interest expense,
amortization of debt discount and amortization of deferred financing fees —(6,019) —
Net income, net of noncontrolling interests for diluted earnings per share $ 146,439 $ 168,769 $ 17,794
The following is a reconciliation of the number of shares used in the calculation of diluted earnings per share computations for
the periods presented:
Fiscal years ended
February 2, 2013 January 28, 2012 January 29, 2011
(in thousands)
Weighted average shares outstanding 44,423 35,220 21,438
Assumed exercise of dilutive DSW stock options 752 555 —
Assumed exercise of dilutive DSW RSUs 128 110 —
Assumed exercise of dilutive RVI stock options & SARs — 65 138
Assumed exercise of dilutive PIES — 1,188 —
Number of shares for computation of diluted earnings per share 45,303 37,138 21,576
Options and RSUs- For fiscal 2012, 2011 and 2010, the amount of securities that were not included in the computation of
dilutive earnings per share because the effect would be anti-dilutive was approximately 0.3 million, 0.3 million and 0.1
million, respectively.
PIES- For the fiscal 2011, the assumed exercise of 1.2 million common shares that would convert upon redemption of the
PIES were included in the calculation of dilutive shares as the effect was dilutive. The total amount of common shares that
would convert upon redemption of the PIES based on the average of DSW's share prices was 3.8 million, but the assumed
conversion was prorated as the PIES were only included in the calculation of earnings per share after the Merger.
Warrants- Warrants were anti-dilutive for all periods presented and were not included in the calculation of diluted shares for
those certain periods. For fiscal 2012, 2011 and 2010, the assumed exercise of warrants for 0.1 million, 0.6 million and 0.8
million Common Shares, respectively, were not included in the calculation of shares as the effect would have been anti-
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS