Dillard's 2009 Annual Report Download - page 71

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
12. Earnings (Loss) per Share (Continued)
Earnings (loss) per common share has been computed as follows:
Fiscal 2009 Fiscal 2008 Fiscal 2007
(in thousands, except per share data) Basic Diluted Basic Diluted Basic Diluted
Net earnings (loss) available for
per-share calculation ............ $68,531 $68,531 $(241,065) $(241,065) $53,761 $53,761
Average shares of common stock
outstanding .................. 73,784 73,784 74,278 74,278 78,406 78,406
Dilutive effect of stock-based
compensation ................. — — — — — 697
Total average equivalent shares ...... 73,784 73,784 74,278 74,278 78,406 79,103
Per share of common stock:
Net income (loss) ............... $ 0.93 $ 0.93 $ (3.25) $ (3.25) $ 0.69 $ 0.68
Total stock options outstanding were 4,044,369, 5,261,375 and 5,376,375 at January 30, 2010,
January 31, 2009 and February 2, 2008, respectively. Of these, options to purchase 4,044,369, 5,261,375
and 5,376,375 shares of Class A Common Stock at prices ranging from $24.73 to $26.57, $24.01 to
$30.47 and $24.01 to $30.47 were outstanding at January 30, 2010, January 31, 2009 and February 2,
2008, respectively, but were not included in the computations of diluted earnings (loss) per share
because the effect of their inclusion would have been antidilutive.
13. Stock-Based Compensation
The Company has various stock option plans that provide for the granting of options to purchase
shares of Class A Common Stock to certain key employees of the Company. Exercise and vesting terms
for options granted under the plans are determined at each grant date. All options were granted at not
less than fair market value at dates of grant. As of January 30, 2010, 7,527,451 shares were available for
grant under the plans and 11,571,820 shares of Class A Common Stock were reserved for issuance
under the stock option plans.
There were no stock options granted during fiscal 2009, 2008 and 2007. The fair values generated
by the Black-Scholes model may not be indicative of the future benefit, if any, that may be received by
the option holder.
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