NOTE 3 — EARNINGS PER SHARE (“EPS”)
The Company reports a dual presentation of basic and diluted EPS. Basic EPS is computed by dividing net income attributable to shareholders of Tech Data by the weighted average number of shares outstanding during the reported period. Diluted EPS reflects the potential dilution related to equity-based incentives (further discussed in Note 10 - Employee Benefit Plans) using the if-converted and treasury stock methods, as applicable. The composition of basic and diluted EPS is as follows:
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Year ended | | Year ended | | Year ended |
| January 31, 2013 | | January 31, 2012 | | January 31, 2011 |
| | | (As restated) | | (As restated) |
| Net income | | Weighted
average
shares | | Per
share
amount | | Net income | | Weighted
average
shares | | Per
share
amount | | Net income | | Weighted
average
shares | | Per
share
amount |
| (In thousands, except per share data) |
Net income per common share-attributable to shareholders of Tech Data - basic | $ | 176,255 |
| | 38,871 |
| | $ | 4.53 |
| | $ | 190,750 |
| | 43,749 |
| | $ | 4.36 |
| | $ | 208,372 |
| | 48,587 |
| | $ | 4.29 |
|
Effect of dilutive securities: | | | | | | | | | | | | | | | | | |
Equity-based awards | | | 309 |
| | | | | | 578 |
| | | | | | 498 |
| | |
Net income per common share attributable to shareholders of Tech Data - diluted | $ | 176,255 |
| | 39,180 |
| | $ | 4.50 |
| | $ | 190,750 |
| | 44,327 |
| | $ | 4.30 |
| | $ | 208,372 |
| | 49,085 |
| | $ | 4.25 |
|
At January 31, 2013, 2012 and 2011, there were 9,456, 16,382 and 564,776 shares, respectively, excluded from the computation of diluted earnings per share because their effect would have been antidilutive.
The Company’s $350.0 million convertible senior debentures issued in December 2006 were repaid during December 2011. The $350.0 million convertible senior debentures did not impact earnings per share for the fiscal year ended January 31, 2011, as the conditions for the contingent conversion feature had not been met.
