9. Earnings Per Share 

The Company accounts for and discloses earnings per share using the treasury stock method. Basic earnings per share is computed by dividing net income for the period by the weighted-average number of common shares outstanding. Restricted stock awards, which contain non-forfeitable ri ghts to dividends, are considered participating securities and are included in the calculation of basic earnings per share. Diluted earnings per share reflects the weighted-average number of common shares outstanding during the period used in the basic earnings per share computation plus dilutive common stock equivalents.

The computation of basic and diluted earnings per share is as follows:





 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



Thirteen weeks ended

 

Twenty-six weeks ended



 

July 30,

 

August 1,

 

July 30,

 

August 1,



 

2016

 

2015

 

2016

 

2015



 

(in millions, except per share data)

Net Income

 

$

127 

 

$

119 

 

$

318 

 

$

303 

Weighted-average common shares outstanding

 

 

134.4 

 

 

139.6 

 

 

135.4 

 

 

139.8 

Basic earnings per share

 

$

0.94 

 

$

0.85 

 

$

2.35 

 

$

2.17 

Weighted-average common shares outstanding

 

 

134.4 

 

 

139.6 

 

 

135.4 

 

 

139.8 

Dilutive effect of potential common shares

 

 

1.1 

 

 

1.7 

 

 

1.2 

 

 

1.9 

Weighted-average common shares outstanding assuming dilution

 

 

135.5 

 

 

141.3 

 

 

136.6 

 

 

141.7 

Diluted earnings per share

 

$

0.94 

 

$

0.84 

 

$

2.33 

 

$

2.14 





Options to purchase 1.1 million and 0.7 million shares of common stock were not included in the computation of diluted earnings per share for the thirteen weeks ended July 30, 2016 and August 1, 2015, respectively. Options to purchase 1.0 million and 0.6 million shares of common stock were not included in the computation of diluted earnings per share for the twenty-six weeks ended July 30, 2016 and August 1, 2015, respectively. These options were not included because the effect would have been antidilutive. Contingently issuable shares of 0.3 million and 0.4 million have not been included as the vesting conditions have not been satisfied as of July 30, 2016 and August 1, 2015, respectively.  

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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