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. 30, 2021

18. 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 30,		February 1,		February 2,
(In thousands, except per share data)	2021		2020		2019
Numerator:
Net income	$	175,835	$	705,945	$	658,559

Denominator:
Weighted-average common shares – Basic		56,351		57,840		59,864
Dilutive effect of stock options and non-vested stock		207		265		317
Weighted-average common shares – Diluted		56,558		58,105		60,181

Net income per common share:
Basic	$	3.12	$	12.21	$	11.00
Diluted	$	3.11	$	12.15	$	10.94

The denominator for diluted net income per common share for fiscal years 2020, 2019, and 2018 excludes 211, 298, and 302 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.