Earnings per share

3 Months Ended

Apr. 30, 2021

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 April 30, 2021					13 Weeks Ended May 1, 2020
			Weighted					Weighted
	Net		Average	Per Share		Net		Average	Per Share
	Income		Shares	Amount		Income		Shares	Amount
Basic earnings per share	$	677,749	238,548	$	2.84	$	650,446	251,780	$	2.58
Effect of dilutive share-based awards			1,753					1,847
Diluted earnings per share	$	677,749	240,301	$	2.82	$	650,446	253,627	$	2.56

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 0.1 million and 0.7 million in the respective 13-week periods ended April 30, 2021 and May 1, 2020.