Ulta Beauty, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Net income per common share

Net income per common share

6 Months Ended

Jul. 30, 2016

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				26 Weeks Ended
	July 30,		August 1,		July 30,		August 1,
(In thousands, except per share data)	2016		2015		2016		2015
Numerator for diluted net income per share – net income	$	90,004	$	74,169	$	181,980	$	141,115

Denominator for basic net income per share – weighted-average common shares		62,475		64,087		62,753		64,134
Dilutive effect of stock options and non-vested stock		338		323		314		350

Denominator for diluted net income per share		62,813		64,410		63,067		64,484

Net income per common share:
Basic	$	1.44	$	1.16	$	2.90	$	2.20
Diluted	$	1.43	$	1.15	$	2.89	$	2.19

The denominators for diluted net income per common share for the 13 weeks ended July 30, 2016 and August 1, 2015 exclude 117 and 119 employee stock options and restricted stock units, respectively, due to their anti-dilutive effects. The denominators for diluted net income per common share for the 26 weeks ended July 30, 2016 and August 1, 2015 exclude 388 and 185 employee stock options and restricted stock, respectively, due to their anti-dilutive effects. As of July 30, 2016 and August 1, 2015, outstanding performance-based restricted stock units were excluded from the computation of diluted shares because the number of shares ultimately issued is contingent on the achievement of certain performance targets of the Company for which the performance targets have not yet been met.