Whole Foods 2010 Annual Report Download - page 56

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50
(15) Shareholders’ Equity
Dividends per Common Share
Following is a summary of dividends declared per common share during fiscal year 2008 (in thousands, except per share
amounts):
Date of Dividend per Date of Date of Total
declaration common share record payment amount
November 20, 2007 $ 0.20 January 11, 2008 January 22, 2008 $ 27,901
March 10, 2008 0.20 April 11, 2008 April 22, 2008 28,041
June 11, 2008 0.20 July 11, 2008 July 22, 2008 28,057
During the fourth quarter of fiscal year 2008, the Company’s Board of Directors suspended the quarterly cash dividend on
common shares.
Treasury Stock
During fiscal year 2008, the Company’s Board of Directors approved a $100 million increase in the Company’s stock
repurchase program, bringing the total authorization to $400 million. During fiscal year 2008, the Company retired all shares
held in treasury totaling approximately $200 million. The Company’s remaining authorization under the stock repurchase
program expired during the first quarter of fiscal year 2010 and was not renewed.
Comprehensive Income
Our comprehensive income is comprised of net income; unrealized gains and losses on investments; unrealized gains and
losses on cash flow hedge instruments, including reclassification adjustments of unrealized losses to net income related to
ongoing interest payments; and foreign currency translation adjustments, net of income taxes. Comprehensive income, net of
related tax effects, was as follows (in thousands):
2010 2009
Net income $ 245,833 $ 146,804
Foreign currency translation adjustment, net 1,564 (8,748)
Reclassification adjustments for amount included in net income 12,943 8,440
Unrealized losses, net (349) (13,481)
Comprehensive income $ 259,991 $ 133,015
At September 27, 2009, accumulated other comprehensive income consisted of unrealized losses on cash flow hedge
instruments of approximately $12.6 million, which were reclassified to net income during fiscal year 2010.
(16) Earnings per Share
The computation of basic earnings per share is based on the number of weighted average common shares outstanding during
the period. The computation of diluted earnings per share for fiscal years 2010 and 2008 include the dilutive effect of
common stock equivalents consisting of incremental common shares deemed outstanding from the assumed exercise of stock
options. Additionally, the computation of diluted earnings per share for fiscal year 2010 includes the assumed conversion of
Series A Preferred Stock.