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

6 Months Ended

Mar. 27, 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					Six Months Ended
	March 27, 2021					March 27, 2021
	Income		Shares	Per Share		Income		Shares	Per Share
	(in thousands, except per share amounts)
Basic EPS:
Net income available to common shareholders	$	72,954	53,851	$	1.35	$	78,567	53,805	$	1.46
Effect of dilutive securities:
Options to purchase common stock	—		642	(0.01)		—		527	(0.01)
Restricted shares	—		663	(0.02)		—		598	(0.02)
Diluted EPS:
Net income available to common shareholders	$	72,954	55,156	$	1.32	$	78,567	54,930	$	1.43


	Three Months Ended					Six Months Ended
	March 28, 2020					March 28, 2020
	Income		Shares	Per Share		Income		Shares	Per Share
	(in thousands, except per share amounts)
Basic EPS:
Net income available to common shareholders	$	42,704	54,281	$	0.79	$	38,287	54,517	$	0.70
Effect of dilutive securities:
Options to purchase common stock	—		343	(0.01)		—		368	(0.01)
Restricted shares	—		328	—		—		335	—
Diluted EPS:
Net income available to common shareholders	$	42,704	54,952	$	0.78	$	38,287	55,220	$	0.69

Options to purchase 2.9 million shares of common stock at prices ranging from $13.82 to $44.02 per share were outstanding at March 27, 2021, and options to purchase 3.4 million shares of common stock at prices ranging from $10.63 to $38.10 per share were outstanding at March 28, 2020.

For the three months ended March 27, 2021 and March 28, 2020, 0.2 million and 1.5 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 six months ended March 27, 2021 and March 28, 2020, 0.1 million and 1.2 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.