Central Garden & Pet Company Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

Earnings Per Share

9 Months Ended

Jun. 26, 2021

The following is a reconciliation of the numerators and denominators of the basic and diluted per share computations for income from continuing operations.


	Three Months Ended					Nine Months Ended
	June 26, 2021					June 26, 2021
	Income		Shares	Per Share		Income		Shares	Per Share
	(in thousands, except per share amounts)
Basic EPS:
Net income available to common shareholders	$	76,186	53,976	$	1.41	$	154,753	53,882	$	2.87
Effect of dilutive securities:
Options to purchase common stock	—		840	(0.02)		—		679	(0.04)
Restricted shares	—		842	(0.02)		—		675	(0.03)
Diluted EPS:
Net income available to common shareholders	$	76,186	55,658	$	1.37	$	154,753	55,236	$	2.80


	Three Months Ended					Nine Months Ended
	June 27, 2020					June 27, 2020
	Income		Shares	Per Share		Income		Shares	Per Share
	(in thousands, except per share amounts)
Basic EPS:
Net income available to common shareholders	$	68,800	53,441	$	1.29	$	107,087	54,261	$	1.97
Effect of dilutive securities:
Options to purchase common stock	—		278	(0.01)		—		339	(0.01)
Restricted shares	—		449	(0.01)		—		384	(0.01)
Diluted EPS:
Net income available to common shareholders	$	68,800	54,168	$	1.27	$	107,087	54,984	$	1.95

Options to purchase 2.6 million shares of common stock at prices ranging from $13.82 to $51.37 per share were outstanding at June 26, 2021, and options to purchase 3.1 million shares of common stock at prices ranging from $10.63 to $38.10 per share were outstanding at June 27, 2020.

For the three months ended June 26, 2021, all options outstanding were included in the computation of diluted earnings per share. For the three months ended June 27, 2020, 0.5 million options outstanding were not included in the computation of diluted earnings per share because the option exercise prices were greater than the average market price of the common shares and therefore, the effect of including these options would be antidilutive.

For the nine months ended June 26, 2021 and June 27, 2020, 0.2 million and 1.0 million options outstanding were not included in the computation of diluted earnings per share because the option exercise prices were greater than the average market price of the common shares and therefore, the effect of including these options would be antidilutive.