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Table of Contents
NOTE 3 — EARNINGS PER SHARE (“EPS”)
The Company reports a dual presentation of basic and diluted EPS. Basic EPS is computed by dividing net income attributable to shareholders of
Tech Data by the weighted average number of shares outstanding during the reported period. Diluted EPS reflects the potential dilution related to
equity-based incentives (further discussed in Note 10 - Employee Benefit Plans) using the if-converted and treasury stock methods, as applicable.
The composition of basic and diluted EPS is as follows:
At January 31, 2013, 2012 and 2011, there were 9,456 , 16,382 and 564,776
shares, respectively, excluded from the computation of diluted earnings
per share because their effect would have been antidilutive.
The Company’s $350.0 million convertible senior debentures issued in December 2006 were repaid during December 2011 . The $350.0 million
convertible senior debentures did not impact earnings per share for the fiscal year ended January 31, 2011, as the conditions for the contingent
conversion feature had not been met.
NOTE 4 — PROPERTY AND EQUIPMENT, NET
The Company's property and equipment consists of the following:
Depreciation expense included in income from operations for the years ended January 31, 2013 , 2012 and 2011 totaled $20.5 million , $21.9
million and $21.0 million , respectively.
59
Year ended
Year ended
Year ended
January 31, 2013
January 31, 2012
January 31, 2011
(As restated)
(As restated)
Net income
Weighted
average
shares
Per
share
amount
Net income
Weighted
average
shares
Per
share
amount
Net
income
Weighted
average
shares
Per
share
amount
(In thousands, except per share data)
Net income per common share-
attributable to shareholders of
Tech Data - basic
$
176,255
38,871
$
4.53
$
190,750
43,749
$
4.36
$
208,372
48,587
$
4.29
Effect of dilutive securities:
Equity-based awards
309
578
498
Net income per common share
attributable to shareholders of
Tech Data - diluted
$
176,255
39,180
$
4.50
$
190,750
44,327
$
4.30
$
208,372
49,085
$
4.25
January 31,
2013
2012
(As restated)
(In thousands)
Land
$
5,804
$
4,727
Buildings and leasehold improvements
82,607
81,818
Furniture, fixtures and equipment
348,694
339,075
Property and equipment
437,105
425,620
Less accumulated depreciation
(352,710
)
(336,739
)
Property and equipment, net
$
84,395
$
88,881