Earnings per share

6 Months Ended

Aug. 04, 2023

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 August 4, 2023					13 Weeks Ended July 29, 2022
			Weighted					Weighted
	Net		Average	Per Share		Net		Average	Per Share
	Income		Shares	Amount		Income		Shares	Amount
Basic earnings per share	$	468,835	219,403	$	2.14	$	678,030	226,299	$	3.00
Effect of dilutive share-based awards			549					1,157
Diluted earnings per share	$	468,835	219,952	$	2.13	$	678,030	227,456	$	2.98
	26 Weeks Ended August 4, 2023					26 Weeks Ended July 29, 2022
			Weighted					Weighted
	Net		Average	Per Share		Net		Average	Per Share
	Income		Shares	Amount		Income		Shares	Amount
Basic earnings per share	$	983,215	219,298	$	4.48	$	1,230,687	227,388	$	5.41
Effect of dilutive share-based awards			731					1,145
Diluted earnings per share	$	983,215	220,029	$	4.47	$	1,230,687	228,533	$	5.39

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 approximately 0.1 million in each of the respective 13-week periods and 26-week periods, ended August 4, 2023 and July 29, 2022.