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. 28, 2023

17. 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 28,		January 29,		January 30,
(In thousands, except per share data)	2023		2022		2021
Numerator:
Net income	$	1,242,408	$	985,837	$	175,835

Denominator:
Weighted-average common shares – Basic		51,403		54,482		56,351
Dilutive effect of stock options and non-vested stock		335		359		207
Weighted-average common shares – Diluted		51,738		54,841		56,558

Net income per common share:
Basic	$	24.17	$	18.09	$	3.12
Diluted	$	24.01	$	17.98	$	3.11

The denominator for diluted net income per common share for fiscal years 2022, 2021 and 2020 excludes 84, 205, and 211 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.