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

Jan. 29, 2022

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
	January 29,		January 30,		February 1,
(In thousands, except per share data)	2022		2021		2020
Numerator:
Net income	$	985,837	$	175,835	$	705,945

Denominator:
Weighted-average common shares – Basic		54,482		56,351		57,840
Dilutive effect of stock options and non-vested stock		359		207		265
Weighted-average common shares – Diluted		54,841		56,558		58,105

Net income per common share:
Basic	$	18.09	$	3.12	$	12.21
Diluted	$	17.98	$	3.11	$	12.15

The denominator for diluted net income per common share for fiscal years 2021, 2020, and 2019 excludes 205, 211, and 298 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.