Safeway 2002 Annual Report Download - page 50

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48 SAFEWAY INC. 2002 ANNUAL REPORT
NOTE P: COMPUTATION OF EARNINGS (LOSS) PER SHARE
2002 2001 2000
(In millions, except per-share amounts) Diluted Basic Diluted Basic Diluted Basic
Income from continuing operations
before cumulative effect of accounting change $ 568.5 $ 568.5 $1,286.7 $1,286.7 $1,154.2 $1,154.2
Loss on discontinued operations (696.6) (696.6) (32.8) (32.8) (62.3) (62.3)
Cumulative effect of accounting change (700.0) (700.0) ––––
Net (loss) income $(828.1) $(828.1) $1,253.9 $1,253.9 $1,091.9 $1,091.9
Weighted average common shares outstanding 467.3 467.3 503.3 503.3 497.9 497.9
Common share equivalents 6.5 9.9 13.7
Weighted average shares outstanding 473.8 513.2 511.6
Earnings (loss) per common share and
common share equivalents:
Income from continuing operations before
cumulative effect of accounting change $ 1.20 $ 1.22 $ 2.51 $ 2.56 $ 2.26 $ 2.32
Loss on discontinued operations (1.47) (1.49) (0.07) (0.07) (0.13) (0.13)
Cumulative effect of accounting change (1.48) (1.50) ––––
Net (loss) income $ (1.75) $ (1.77) $ 2.44 $ 2.49 $ 2.13 $ 2.19
Calculation of common share equivalents:
Options to purchase common shares 17.2 29.1 36.8
Common shares assumed purchased with
potential proceeds (10.7) (19.2) (23.1)
Common share equivalents 6.5 9.9 13.7
Calculation of common shares assumed
purchased with potential proceeds:
Potential proceeds from exercise of options
to purchase common shares $ 350.3 $ 918.9 $1,077.4
Common stock price used under the treasury
stock method $ 32.86 $ 47.85 $ 46.57
Common shares assumed purchased with
potential proceeds 10.7 19.2 23.1
Anti-dilutive shares totaling 21.7 million in 2002, 9.0 million in 2001 and 3.2 million in 2000 have been excluded from diluted weighted average shares outstanding.