Earnings per share

6 Months Ended

Jul. 29, 2016

2.Earnings per share

Earnings per share is computed as follows (in thousands, except per share data):

	13 Weeks Ended July 29, 2016					13 Weeks Ended July 31, 2015
	Net Income		Weighted Average Shares	Per Share Amount		Net Income		Weighted Average Shares	Per Share Amount
Basic earnings per share	$	306,518	283,130	$	1.08	$	282,349	295,679	$	0.95
Effect of dilutive share-based awards			986					849

Diluted earnings per share	$	306,518	284,116	$	1.08	$	282,349	296,528	$	0.95

	26 Weeks Ended July 29, 2016					26 Weeks Ended July 31, 2015
	Net Income		Weighted Average Shares	Per Share Amount		Net Income		Weighted Average Shares	Per Share Amount
Basic earnings per share	$	601,642	284,508	$	2.11	$	535,584	298,440	$	1.79
Effect of dilutive share-based awards			1,039					868

Diluted earnings per share	$	601,642	285,547	$	2.11	$	535,584	299,308	$	1.79

Basic earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is determined based on the dilutive effect of share-based awards using the treasury stock method.

Share-based awards that were outstanding at the end of the respective periods, but were not included in the computation of diluted earnings per share because the effect of exercising such awards would be antidilutive, were 1.3 million and 1.0 million in the 2016 and 2015 13-week periods, respectively, and were 1.4 million and 1.1 million in the 2016 and 2015 26-week periods, respectively.