Quarterly report pursuant to Section 13 or 15(d)

Net income per common share

v3.23.1
Net income per common share
3 Months Ended
Apr. 29, 2023
Net income per common share  
Net income per common share

11.Net income per common share

The following is a reconciliation of net income and the number of shares of common stock used in the computation of net income per basic and diluted common share:

13 Weeks Ended

April 29,

April 30,

(In thousands, except per share data)

    

2023

    

2022

Numerator:

Net income

    

$

347,051

$

331,395

Denominator:

Weighted-average common shares – Basic

50,153

52,250

Dilutive effect of stock options and non-vested stock

316

332

Weighted-average common shares – Diluted

50,469

52,582

Net income per common share:

Basic

$

6.92

$

6.34

Diluted

$

6.88

$

6.30

The denominator for diluted net income per common share for the 13 weeks ended April 29, 2023 and April 30, 2022 excludes 79 and 143 employee stock options and restricted stock units, respectively, due to their anti-dilutive effects. Outstanding performance-based restricted stock units are included in the computation of dilutive shares only to the extent that the underlying performance conditions are satisfied prior to the end of the reporting period or would be considered satisfied if the end of the reporting period were the end of the related contingency period and the results would be dilutive under the treasury stock method.