11.	Net Income Per Share and Weighted Average Shares

Basic consolidated net income per share is computed by dividing consolidated net income available to common shareholders by the weighted average number of shares of common stock outstanding for the reporting period. Diluted consolidated net income per share reflects the potential dilution that could occur if securities, options or other contracts to issue shares of common stock were exercised or converted into shares of common stock and is based upon the weighted average number of shares of common stock and common equivalent shares outstanding during the reporting period. Common equivalent shares related to nonvested stock awards and units and MSU Grants issued by the Company are calculated using the treasury stock method. The outstanding nonvested stock awards and units, MSU Grants and stock options issued by the Company represent the only dilutive effects on diluted consolidated net income per share.

The following table reconciles the components of diluted earnings per share computations:

	Quarter Ended				Nine Months Ended
	May 3, 2019		April 27, 2018		May 3, 2019		April 27, 2018
Net income per share numerator	$	50,414	$	48,747	$	158,376	$	186,266

Net income per share denominator:
Weighted average shares		24,041,673		24,003,611		24,034,878		24,013,435
Add potential dilution:
Stock options, nonvested stock awards and MSU Grants		62,759		62,172		55,748		62,399
Diluted weighted average shares		24,104,432		24,065,783		24,090,626		24,075,834