Harris Teeter 2011 Annual Report Download - page 50

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The Savings Plan is a defined contribution retirement plan pursuant to Section 401(k) of the Internal Revenue Code, and
was authorized for the purpose of providing retirement benefits for employees of the Company. The Company provides a
matching contribution based on the amount of eligible compensation contributed by the associate and an automatic retirement
contribution based on age and years of service.
The Company has certain deferred compensation arrangements which allow, or allowed in prior years, its directors, officers
and selected key management personnel to forego the receipt of earned compensation for specified periods of time. These
arrangements include (1) a directors’ compensation deferral plan, funded in a rabbi trust, the benefit and payment under such
plan being made in the Company’s common stock that has historically been purchased on the open market, (2) a key management
deferral plan, unfunded, the benefit liability under such plan determined on the basis of the performance of selected market
investment indices, and (3) other compensation deferral arrangements, unfunded and only available to directors and select key
management in prior years, the benefit liability for which is determined based on fixed rates of interest.
Expense associated with the Savings Plan, deferred compensation arrangements and other plans, were as follows (in
thousands):
2011 2010 2009
Savings Plan $20,584 $20,166 $20,230
Deferred Compensation and other 945 1,416 1,679
14. COMPUTATION OF EARNINGS PER SHARE (EPS)
The following table details the computation of EPS for fiscal years 2011, 2010 and 2009 (in thousands except per
share data):
2011 2010 2009
Basic EPS:
Earnings From Continuing Operations $111,458 $98,652 $93,597
Weighted average common shares outstanding 48,469 48,215 47,964
Basic EPS $ 2.30 $ 2.05 $ 1.95
Diluted EPS:
Earnings From Continuing Operations $111,458 $98,652 $93,597
Weighted average common shares outstanding 48,469 48,215 47,964
Net potential common share equivalents - stock options 27 77 119
Net potential common share equivalents - stock awards 356 308 254
Weighted average common shares outstanding 48,852 48,600 48,337
Diluted EPS $ 2.28 $ 2.03 $ 1.94
Excluded from the calculation of common share equivalents:
Anti-dilutive common share equivalents – stock options - 10 10
Anti-dilutive common share equivalents – stock awards - - -
Stock awards that are based on performance are excluded from the calculation of potential common share equivalents until
the performance criteria are met. As such, the impact of 147,000, 139,000 and 137,000 performance shares for the fiscal years
2011, 2010 and 2009, respectively, were excluded from the computation of diluted shares.
To calculate the earnings per share on Earnings (Loss) From Discontinued Operations and on Net Earnings, the denominator
for both basic and diluted earnings per share is the same as used in the table above. The basic and diluted earnings per share
for Earnings (Loss) From Discontinued Operations and for Net Earnings were as follows (in thousands except per share data):
2011 2010 2009
Earnings (Loss) From Discontinued Operations $(20,211) $13,389 $(7,633)
Earnings Per Share
Basic $ (0.42) $ 0.28 $ (0.16)
Diluted (0.41) 0.28 (0.16)
RUDDICK CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (continued)
46