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
Oct. 28, 2023
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

October 28,

October 29,

October 28,

October 29,

(In thousands, except per share data)

    

2023

    

2022

    

2023

    

2022

Numerator:

Net income

    

$

249,483

$

274,585

$

896,636

$

901,657

Denominator:

Weighted-average common shares – Basic

49,007

51,131

49,592

51,663

Dilutive effect of stock options and non-vested stock

219

287

254

299

Weighted-average common shares – Diluted

49,226

51,418

49,846

51,962

Net income per common share:

Basic

$

5.09

$

5.37

$

18.08

$

17.45

Diluted

$

5.07

$

5.34

$

17.99

$

17.35

The denominator for diluted net income per common share for the 13 weeks ended October 28, 2023 and October 29, 2022 excludes 124 and 50 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 October 28, 2023 and October 29, 2022 excludes 144 and 119 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.