Supercuts 2009 Annual Report Download - page 128

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Table of Contents
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
14. BENEFIT PLANS (Continued)
Compensation expense included in income before income taxes related to the aforementioned plans, excluding amounts paid for expenses
and administration of the plans, for the three years ended June 30, 2009, 2008 and 2007, included the following:
15. SHAREHOLDERS' EQUITY
Net Income Per Share:
The Company's basic earnings per share is calculated as net income divided by weighted average common shares outstanding, excluding
unvested outstanding RSAs and RSUs. The Company's dilutive earnings per share is calculated as net income divided by weighted average
common shares and common share equivalents outstanding, which includes shares issuable under the Company's stock option plan and long-
term incentive plan, shares issuable under contingent stock agreements, and dilutive securities. Stock-based awards with exercise prices greater
than the average market value of the Company's common stock are excluded from the computation of diluted earnings per share.
The following table sets forth a reconciliation of shares used in the computation of basic and diluted earnings per share:
126
2009
2008
2007
(Dollars in thousands)
Profit sharing plan
$
1,697
$
3,373
$
3,305
Executive Profit Sharing Plan
303
497
491
ESPP
634
711
714
FSPP
12
18
11
Deferred compensation contracts
4,479
3,122
6,107
2009
2008
2007
(Shares in thousands)
Weighted average shares for basic earnings per share
42,897
43,157
44,723
Effect of dilutive securities:
Dilutive effect of stock
-
based compensation
129
430
844
Contingent shares issuable under contingent stock agreements
—
—
56
Weighted average shares for diluted earnings per share
43,026
43,587
45,623