The Company used earnings before the impact of the legal settlement as a key performance measure of results of operations for purposes of evaluating performance internally. This non-GAAP measurement is not intended to replace the presentation of our financial results in accordance with GAAP. Rather, the Company believes that the presentation of results before the legal settlement provides additional information to facilitate the comparison of past and present operations, excluding items that the Company does not believe are indicative of our ongoing operations in the 26 weeks ended June 26, 2012.
|For the 26 weeks Ended|
|June 26, 2012||June 28, 2011|
|Net income attributable to Texas Roadhouse, Inc. and subsidiaries, excluding settlement charge||$||42,240||$||35,869|
|Amount reserved for settlement of a legal matter, net of tax (1)||$||(3,062||)||$||-|
|Net income attributable to Texas Roadhouse, Inc. and subsidiaries||$||39,179||$||35,869|
|Weighted average diluted shares outstanding||71,247||73,256|
|Diluted earnings per share, excluding settlement charge||$||0.59||$||0.49|
|Impact of settlement charge on diluted earnings per share||$||(0.04||)||$||-|
|Diluted earnings per share||$||0.55||$||0.49|
Amount reserved in the first quarter of fiscal 2012 for the settlement of a legal matter was $5.0 million before the statutory income tax rate. The settlement amount was included in general and administrative costs on the Company's Condensed Consolidated Statements of Income and Comprehensive Income.
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