Supercuts 2012 Annual Report Download - page 132

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Table of Contents
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
13. BENEFIT PLANS (Continued)
administration of the plans, for the fiscal years ended June 30, 2012, 2011, and 2010, included the following:
14. SHAREHOLDERS' EQUITY
Net (Loss) Income Per Share:
The Company's basic earnings per share is calculated as net (loss) 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 (loss) 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:
129
2012 2011 2010
(Dollars in thousands)
RRSP Plan profit sharing
$
—
$
1,907
$
3,206
Executive Plan profit sharing
—
477
654
ESPP
449
494
484
FSPP
9
8
8
Deferred compensation contracts
10,452
4,977
5,814
2012 2011 2010
(Shares in thousands)
Weighted average shares for basic earnings per
share
57,137
56,704
55,806
Effect of dilutive securities:
Dilutive effect of convertible debt
—
—
10,730
Dilutive effect of stock
-
based compensation(1)
—
—
217
Weighted average shares for diluted earnings per
share
57,137
56,704
66,753
(1) For fiscal year 2012 and 2011, 182 and 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.