Quarterly report pursuant to Section 13 or 15(d)

Net income per common share

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Net income per common share
 3 Months Ended
Apr. 29, 2017
Earnings Per Share [Abstract]  
Net income per common share

7. 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 share:

 

     13 Weeks Ended  

(In thousands, except per share data)

    April 29,
2017		      April 30,
2016		  

Numerator for diluted net income per share – net income

    $ 128,223      $ 91,976  

Denominator for basic net income per share – weighted-average common shares

      62,101        63,031  

Dilutive effect of stock options and non-vested stock

      493        304  
  

 

 

     

 

 

  

Denominator for diluted net income per share

      62,594        63,335  

Net income per common share:

      

Basic

    $ 2.06      $ 1.46  

Diluted

    $ 2.05      $ 1.45  

The denominator for diluted net income per common share for the 13 weeks ended April 29, 2017 and April 30, 2016 excludes 163 and 386 employee stock options, 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.