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Exhibit 11
SUPERVALU INC.
Computation of Earnings per Common Share
(unaudited)
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Second Quarter Ended Year-to-date Ended
(In thousands, except per share amounts) Sept. 9, 2000 Sept. 11, 2000 Sept. 9, 2000 Sept. 11, 1999
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<S> <C> <C> <C> <C>
Earnings per share - basic
Income available to common shareholders $ 57,296 $ 45,482 $127,261 $112,203
Weighted average shares outstanding 132,321 122,483 132,130 120,853
Earnings per share - basic $ .43 $ .37 $ .96 $ .93
Earnings per share - diluted
Income available to common shareholders $ 57,296 $ 45,482 $127,261 $112,203
Weighted average shares outstanding 132,321 122,483 132,130 120,853
Dilutive impact of options outstanding 775 1,199 938 1,164
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Weighted average shares and potential
dilutive shares outstanding 133,096 123,682 133,068 122,017
Earnings per share - dilutive $ .43 $ .37 $ .96 $ .92
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Basic earnings per share is calculated using income available to common
shareholders divided by the weighted average of common shares outstanding during
the period. Diluted earnings per share is similar to basic earnings per share
except that the weighted average of common shares outstanding is increased to
include the number of additional common shares that would have been outstanding
if the dilutive potential common shares, such as options, had been issued.
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