Supercuts 2011 Annual Report Download - page 135

Download and view the complete annual report

Please find page 135 of the 2011 Supercuts annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 178

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178

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, 2011, 2010 and 2009, 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, 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 Company's dilutive earnings per share will also reflect the
assumed conversion under the Company's convertible debt if the impact is dilutive, along with the exclusion of interest expense, net of taxes.
The impact of the convertible debt is excluded from the computation of diluted earnings per share when interest expense per common share
obtainable upon conversion is greater than basic earnings per share.
The following table sets forth a reconciliation of shares used in the computation of basic and diluted earnings per share:
130
2011
2010
2009
(Dollars in thousands)
Profit sharing plan
$
1,907
$
3,206
$
1,697
Executive Profit Sharing Plan
477
654
303
ESPP
494
484
634
FSPP
8
8
12
Deferred compensation contracts
4,977
5,814
4,479
2011 2010 2009
(Shares in thousands)
Weighted average shares for basic
earnings per share
56,704
55,806
42,897
Effect of dilutive securities:
Dilutive effect of convertible
debt
—
10,730
—
Dilutive effect of stock-based
compensation(1)
—
217
129
Weighted average shares for
diluted earnings per share
56,704
66,753
43,026
(1)
For fiscal year 2011, 334 common stock equivalents of potentially dilutive common stock were not included
in the diluted earnings per share calculation because to do so would have been anti
-
dilutive.