Rite Aid 2012 Annual Report Download - page 76

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RITE AID CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
For the Years Ended March 3, 2012, February 26, 2011 and February 27, 2010
(In thousands, except per share amounts)
1. Summary of Significant Accounting Policies (Continued)
In June 2011, the FASB issued an amendment related to statements of comprehensive income.
This amendment requires an entity to present the total of comprehensive income, the components of
net income, and the components of other comprehensive income in either a single continuous
statement of comprehensive income or in two separate but consecutive statements. This amended
guidance eliminates the option to present the components of other comprehensive income as part of
the statement of changes in stockholders’ equity. In December 2011, the FASB issued another
amendment related to statements of comprehensive income. The Company will adopt this guidance in
fiscal 2013.
In May 2011, the FASB issued an amendment to revise certain fair value measurement and
disclosure requirements. This amendment establishes common requirements for measuring fair value
and for disclosing information about fair value measurements in accordance with U.S. GAAP and
International Financial Reporting Standards. These changes are effective for interim and annual
periods beginning after December 15, 2011 on a prospective basis. Early adoption is not permitted. We
do not expect the adoption of this standard to have a material effect on our financial results.
2. Loss Per Share
Basic loss per share is computed by dividing loss available to common stockholders by the
weighted average number of shares of common stock outstanding for the period. Diluted loss per share
reflects the potential dilution that could occur if securities or other contracts to issue common stock
were exercised or converted into common stock or resulted in the issuance of common stock that then
shared in the income of the Company subject to anti-dilution limitations.
Year Ended
March 3, February 26, February 27,
2012 2011 2010
(53 Weeks) (52 Weeks) (52 Weeks)
Numerator for loss per share:
Net loss ........................... $(368,571) $(555,424) $(506,676)
Accretion of redeemable preferred stock .... (102) (102) (102)
Cumulative preferred stock dividends ...... (9,919) (9,346) (8,807)
Loss applicable to common stockholders—basic
and diluted ......................... $(378,592) $(564,872) $(515,585)
Denominator:
Basic and diluted weighted average shares . . 885,819 882,947 880,843
Basic and diluted loss per share .......... $ (0.43) $ (0.64) $ (0.59)
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