Earnings per share

9 Months Ended

Oct. 30, 2020

Earnings per share

Earnings per share

2. Earnings per share

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

	13 Weeks Ended October 30, 2020					13 Weeks Ended November 1, 2019
			Weighted					Weighted
	Net		Average	Per Share		Net		Average	Per Share
	Income		Shares	Amount		Income		Shares	Amount
Basic earnings per share	$	574,260	247,131	$	2.32	$	365,550	256,041	$	1.43
Effect of dilutive share-based awards			1,932					1,658
Diluted earnings per share	$	574,260	249,063	$	2.31	$	365,550	257,699	$	1.42

	39 Weeks Ended October 30, 2020					39 Weeks Ended November 1, 2019
			Weighted					Weighted
	Net		Average	Per Share		Net		Average	Per Share
	Income		Shares	Amount		Income		Shares	Amount
Basic earnings per share	$	2,012,307	249,731	$	8.06	$	1,177,118	257,618	$	4.57
Effect of dilutive share-based awards			1,896					1,404
Diluted earnings per share	$	2,012,307	251,627	$	8.00	$	1,177,118	259,022	$	4.54

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 less than 0.1 million and 0.1 million in the respective 13-week periods, and 0.2 million and 0.4 million in the respective 39-week periods, ended October 30, 2020 and November 1, 2019.