Net Income Per Share and Weighted Average Shares

3 Months Ended

Nov. 01, 2019

Net Income Per Share and Weighted Average Shares [Abstract]

Net Income Per Share and Weighted Average Shares

12. 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 issued by the Company are calculated using the treasury stock method.  The outstanding nonvested stock awards and units, 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
	November 1, 2019		November 2, 2018
Net income per share numerator	$	43,223	$	47,207
Net income per share denominator:
Weighted average shares		24,038,354		24,022,586
Add potential dilution:
Nonvested stock awards and units		65,568		51,136
Diluted weighted average shares		24,103,922		24,073,722