Earnings per share

3 Months Ended

May 03, 2019

2.Earnings per share

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


	13 Weeks Ended May 3, 2019					13 Weeks Ended May 4, 2018
			Weighted					Weighted
	Net		Average	Per Share		Net		Average	Per Share
	Income		Shares	Amount		Income		Shares	Amount
Basic earnings per share	$	385,013	259,021	$	1.49	$	364,852	268,267	$	1.36
Effect of dilutive share-based awards			1,244					868
Diluted earnings per share	$	385,013	260,265	$	1.48	$	364,852	269,135	$	1.36

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 0.6 million and 0.9 million in the 2019 and 2018 13-week periods, respectively.