Quarterly report pursuant to Section 13 or 15(d)

Net income per common share

v3.23.2
Net income per common share
6 Months Ended
Jul. 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

26 Weeks Ended

July 29,

July 30,

July 29,

July 30,

(In thousands, except per share data)

    

2023

    

2022

    

2023

    

2022

Numerator:

Net income

    

$

300,102

$

295,677

$

647,153

$

627,072

Denominator:

Weighted-average common shares – Basic

49,617

51,607

49,885

51,928

Dilutive effect of stock options and non-vested stock

232

293

272

309

Weighted-average common shares – Diluted

49,849

51,900

50,157

52,237

Net income per common share:

Basic

$

6.05

$

5.73

$

12.97

$

12.08

Diluted

$

6.02

$

5.70

$

12.90

$

12.00

The denominator for diluted net income per common share for the 13 weeks ended July 29, 2023 and July 30, 2022 excludes 127 and 67 employee stock options and restricted stock units, respectively, due to their anti-dilutive effects. The denominator for diluted net income per common share for the 26 weeks ended July 29, 2023 and July 30, 2022 excludes 133 and 125 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.