Quarterly report pursuant to Section 13 or 15(d)

Net income per common share

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Net income per common share
9 Months Ended
Nov. 02, 2024
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

39 Weeks Ended

November 2,

October 28,

November 2,

October 28,

(In thousands, except per share data)

    

2024

    

2023

    

2024

    

2023

Numerator:

Net income

    

$

242,179

$

249,483

$

807,848

$

896,636

Denominator:

Weighted-average common shares – Basic

46,928

49,007

47,519

49,592

Dilutive effect of stock options and non-vested stock

164

219

191

254

Weighted-average common shares – Diluted

47,092

49,226

47,710

49,846

Net income per common share:

Basic

$

5.16

$

5.09

$

17.00

$

18.08

Diluted

$

5.14

$

5.07

$

16.93

$

17.99

The denominator for diluted net income per common share for the 13 weeks ended November 2, 2024 and October 28, 2023 excludes 176 and 124 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 39 weeks ended November 2, 2024 and October 28, 2023 excludes 206 and 144 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.