Earnings per share

9 Months Ended

Nov. 03, 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 November 3, 2023					13 Weeks Ended October 28, 2022
			Weighted					Weighted
	Net		Average	Per Share		Net		Average	Per Share
	Income		Shares	Amount		Income		Shares	Amount
Basic earnings per share	$	276,246	219,480	$	1.26	$	526,167	224,527	$	2.34
Effect of dilutive share-based awards			319					1,170
Diluted earnings per share	$	276,246	219,799	$	1.26	$	526,167	225,697	$	2.33
	39 Weeks Ended November 3, 2023					39 Weeks Ended October 28, 2022
			Weighted					Weighted
	Net		Average	Per Share		Net		Average	Per Share
	Income		Shares	Amount		Income		Shares	Amount
Basic earnings per share	$	1,259,461	219,359	$	5.74	$	1,756,854	226,434	$	7.76
Effect of dilutive share-based awards			594					1,153
Diluted earnings per share	$	1,259,461	219,953	$	5.73	$	1,756,854	227,587	$	7.72

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 39-week periods ended November 3, 2023 and October 28, 2022.