Ulta Beauty, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Net income per common share

Net income per common share

12 Months Ended

Feb. 03, 2024

16. 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:


	Fiscal year ended
	February 3,		January 28,		January 29,
(In thousands, except per share data)	2024		2023		2022
Numerator:
Net income	$	1,291,005	$	1,242,408	$	985,837

Denominator:
Weighted-average common shares – Basic		49,304		51,403		54,482
Dilutive effect of stock options and non-vested stock		292		335		359
Weighted-average common shares – Diluted		49,596		51,738		54,841

Net income per common share:
Basic	$	26.18	$	24.17	$	18.09
Diluted	$	26.03	$	24.01	$	17.98

The denominator for diluted net income per common share for fiscal years 2023, 2022 and 2021 excludes 138, 84, and 205 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.