Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.7.0.1
Earnings Per Share
 6 Months Ended
Mar. 25, 2017
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share


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
 
Six Months Ended
 
 
March 25, 2017
 
March 25, 2017
 
 
Income
 
Shares
 
Per Share
 
Income

Shares

Per Share
Basic EPS:
 
 
 
 
 
 
 





     Net income available to common shareholders
 
$
34,684

 
50,079

 
$
0.69

 
$
42,321


49,872


$
0.85

Effect of dilutive securities:
 
 
 
 
 
 
 





     Options to purchase common stock
 

 
1,156

 
(0.01
)
 
—


1,273


(0.02
)
     Restricted shares
 

 
748

 
(0.01
)
 
—


766


(0.01
)
Diluted EPS:
 

 

 

 
—





     Net income available to common shareholders
 
$
34,684

 
51,983

 
$
0.67

 
$
42,321


51,911


$
0.82

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Six Months Ended
 
 
March 26, 2016
 
March 26, 2016
 
 
Income

Shares

Per Share
 
Income

Shares

Per Share
Basic EPS:






 





     Net income available to common shareholders

$
32,697


48,717


$
0.67

 
$
24,095


48,641


$
0.50

Effect of dilutive securities:






 





     Options to purchase common stock



976


(0.01
)
 


1,166


(0.02
)
     Restricted shares



752


(0.01
)
 


751


—

Diluted EPS:






 





     Net income available to common shareholders

$
32,697


50,445


$
0.65

 
$
24,095


50,558


$
0.48

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


Options to purchase 3.1 million shares of common stock at prices ranging from $6.43 to $31.76 per share were outstanding at March 25, 2017, and options to purchase 6.8 million shares of common stock at prices ranging from $6.43 to $15.56 per share were outstanding at March 26, 2016.

For the three months ended March 25, 2017, all options outstanding were included in the computation of diluted earnings per share. For the three months ended March 26, 2016, options to purchase 1.6 million shares of common stock were outstanding but 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 would be anti-dilutive.

For the six month periods ended March 25, 2017 and March 26, 2016, respectively, options to purchase 0.2 million and 0.7 million shares of common stock, respectively, were outstanding but 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 would be anti-dilutive.