Net Income Per Share

9 Months Ended

May 29, 2021

Note 3: Net Income per Share

Net income per share is computed by dividing net income by the weighted-average number of shares of Common Stock outstanding during the period. Diluted net income per share is computed by dividing net income by the weighted-average shares outstanding, including potentially dilutive shares of common stock equivalents outstanding during the period. The dilutive effect of potential shares of common stock are determined using the treasury stock method. The following table sets forth the computation of basic and diluted net income per common share under the treasury stock method for the thirteen and thirty-nine weeks ended May 29, 2021 and May 30, 2020.


	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
	May 29,		May 30,		May 29,		May 30,
	2021		2020		2021		2020
Numerator:
Net income attributable to MSC Industrial as reported	$	94,434	$	77,703	$	150,973	$	198,621
Denominator:
Weighted-average shares outstanding for basic net income per share		55,944		55,563		55,814		55,435
Effect of dilutive securities		408		36		325		146
Weighted-average shares outstanding for diluted net income per share		56,352		55,599		56,139		55,581
Net income per share:
Basic	$	1.69	$	1.40	$	2.70	$	3.58
Diluted	$	1.68	$	1.40	$	2.69	$	3.57

Potentially dilutive securities		3		1,933		884		1,417

Potentially dilutive securities attributable to outstanding stock options and restricted stock units are excluded from the calculation of diluted earnings per share where the combined exercise price and average unamortized fair value are greater than the average market price of the Company’s Class A Common Stock, and, therefore, their inclusion would be anti-dilutive.