Southwest Airlines 2002 Annual Report Download - page 71

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52 | SOUTHWEST AIRLINES CO. 2002 10-K
15. Net Income Per Share
The following table sets forth the computation of net income per share, basic and diluted:
(In thousands, except per share amounts) 2002 2001 2000
Net income before cumulative effect of change in accounting
principle $ 240,969 $ 511,147 $ 625,224
Cumulative effect of change in accounting principle -- (22,131)
Net income $ 240,969 $511,147 $603,093
Weighted-average shares outstanding, basic 772,556 762,973 748,617
Dilutive effect of Employee stock options 36,864 44,142 47,699
Adjusted weighted-average shares outstanding, diluted 809,420 807,115 796,316
Net income per share, basic, before cumulative effect of
change in accounting principle $ .31 $ .67 $ .84
Cumulative effect of change in accounting principle -- (.03)
Net income per share, basic $ .31 $ .67 $ .81
Net income per share, diluted, before cumulative effect of
change in accounting principle $ .30 $ .63 $ .79
Cumulative effect of change in accounting principle -- (.03)
Net income per share, diluted $ .30 $ .63 $ .76
The Company has excluded 11.0 million,
5.7 million, and 11.7 million shares from its
calculations of net income per share, diluted,
in 2002, 2001, and 2000, respectively, as they
represent antidilutive stock options for the
respective periods presented.