11. EARNINGS PER COMMON SHARE
Net earnings attributable to The Kroger Co. per basic common share equals net earnings attributable to The Kroger Co. less income allocated to participating securities divided by the weighted average number of common shares outstanding. Net earnings attributable to The Kroger Co. per diluted common share equals net earnings attributable to The Kroger Co. less income allocated to participating securities divided by the weighted average number of common shares outstanding, after giving effect to dilutive stock options. The following table provides a reconciliation of net earnings attributable to The Kroger Co. and shares used in calculating net earnings attributable to The Kroger Co. per basic common share to those used in calculating net earnings attributable to The Kroger Co. per diluted common share:
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For the year ended |
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For the year ended |
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For the year ended |
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(in millions, except per share amounts) |
|
Earnings |
|
Shares |
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Per |
|
Earnings |
|
Shares |
|
Per |
|
Earnings |
|
Shares |
|
Per |
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Net earnings attributable to The |
|
$ |
1,507 |
|
514 |
|
$ |
2.93 |
|
$ |
1,485 |
|
533 |
|
$ |
2.78 |
|
$ |
598 |
|
590 |
|
$ |
1.01 |
|
Dilutive effect of stock options |
|
|
|
6 |
|
|
|
|
|
4 |
|
|
|
|
|
3 |
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Net earnings attributable to The |
|
$ |
1,507 |
|
520 |
|
$ |
2.90 |
|
$ |
1,485 |
|
537 |
|
$ |
2.77 |
|
$ |
598 |
|
593 |
|
$ |
1.01 |
|
The Company had undistributed and distributed earnings to participating securities totaling $12, $12 and $4 in 2013, 2012 and 2011, respectively.
For the years ended February 1, 2014, February 2, 2013 and January 28, 2012, there were options outstanding for approximately 2.3 million, 12.2 million and 12.2 million common shares, respectively, which were excluded from the computation of net earnings attributable to The Kroger Co. per diluted common share. These shares were excluded because their inclusion would have had an anti-dilutive effect on EPS.