Net Income Per Share

12 Months Ended

Sep. 03, 2022

Net Income Per Share [Abstract]

Net Income Per Share

4. NET INCOME PER SHARE

Net income per share is computed by dividing net income by the weighted-average number of shares of the Company’s Class A and Class B Common Stock outstanding during the period. Diluted net income per share is computed by dividing net income by the weighted-average number of shares of Common Stock outstanding during the period, including potentially dilutive shares of Common Stock equivalents outstanding during the period. The dilutive effect of potential shares of Common Stock is 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 fiscal years 2022, 2021 and 2020:

	For the Fiscal Years Ended
	September 3,		August 28,		August 29,
	2022		2021		2020
	(53 weeks)		(52 weeks)		(52 weeks)
Numerator:
Net income attributable to MSC Industrial as reported	$	339,786	$	216,907	$	251,117
Denominator:
Weighted-average shares outstanding for basic net income per share		55,777		55,737		55,472
Effect of dilutive securities		268		356		171
Weighted-average shares outstanding for diluted net income per share		56,045		56,093		55,643
Net income per share:
Basic	$	6.09	$	3.89	$	4.53
Diluted	$	6.06	$	3.87	$	4.51
Potentially dilutive securities		400		314		1,393

Potentially dilutive securities attributable to outstanding stock options and restricted stock units are excluded from the calculation of diluted net income per share when 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.