Petsmart 2010 Annual Report Download - page 69

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Certain stock-based compensation awards representing 1.5 million, 3.0 million and 4.8 million shares of
common stock in 2010, 2009 and 2008, respectively, were not included in the calculation of diluted earnings per
common share because the inclusion of the awards would have been antidilutive for the periods presented.
Note 8 — Stockholders’ Equity
Share Purchase Programs
In August 2007, the Board of Directors approved a share purchase program authorizing the purchase of up to
$300.0 million of our common stock through August 2, 2009. We purchased 7.0 million shares for $225.0 million in
2009. We purchased 2.3 million shares of our common stock for $50.0 million during 2008, and 1.2 million shares
of common stock for $25.0 million during the thirteen weeks ended May 3, 2009, completing the $300.0 million
program.
In June 2009, the Board of Directors approved a share purchase program authorizing the purchase of up to
$350.0 million of our common stock through January 29, 2012. During 2009, we purchased 5.9 million shares of our
common stock for $140.0 million under the June 2009 share purchase program. During the thirteen weeks ended
May 2, 2010, we purchased 3.4 million shares of common stock for $107.1 million under the June 2009 share
purchase program.
In June 2010, the Board of Directors replaced the $350 million program with a new share purchase program
authorizing the purchase of up to $400.0 million of our common stock through January 29, 2012. During the thirteen
weeks ended January 30, 2011, we purchased 2.6 million shares of common stock for $99.9 million. Since the
inception of the $400.0 million authorization in June 2010, we have purchased 4.2 million shares of common stock
for $156.2 million. As of January 30, 2011, $243.8 million remained available under the $400.0 million program.
Dividends
In 2010 and 2009, the Board of Directors declared the following dividends:
Date Declared
Dividend
Amount per
Share
Stockholders of
Record Date Date Paid
2010:
March 23 ........................ $ 0.10 April 30, 2010 May 14, 2010
June 16 . ........................ $0.125 July 30, 2010 August 13, 2010
September 29 ..................... $0.125 October 29, 2010 November 12, 2010
December 9 ...................... $0.125 January 28, 2011 February 11, 2011
2009:
March 24 ........................ $ 0.03 May 1, 2009 May 15, 2009
June 22 . ........................ $ 0.10 July 31, 2009 August 14, 2009
September 30 ..................... $ 0.10 October 30, 2009 November 13, 2009
December 10 ..................... $ 0.10 January 29, 2010 February 12, 2010
Note 9 — Stock-Based Compensation
We have several long-term incentive plans, including plans for stock options, restricted stock, performance
share units, management equity units and employee stock purchases. Shares issued under our long-term incentive
plans are issued from new shares.
F-19
PetSmart, Inc. and Subsidiaries
Notes to Consolidated Financial Statements — (Continued)