Earnings per Share

3 Months Ended

Jul. 29, 2023

The following is a reconciliation of the numerators and denominators we used in our computations of basic and diluted earnings per share:


	Quarter Ended
(Unaudited, amounts in thousands, except per share data)	7/29/2023		7/30/2022
Numerator (basic and diluted):


Net income available to common Shareholders	$	27,479	$	38,488

Denominator:
Basic weighted average common shares outstanding	43,239		43,092
Contingent common shares	54		50
Stock option dilution	40		—
Diluted weighted average common shares outstanding	43,333		43,142

Earnings per Share:
Basic	$	0.64	$	0.89
Diluted	$	0.63	$	0.89

The values for contingent common shares set forth above reflect the dilutive effect of common shares that we would have issued to employees under the terms of performance-based share awards if the relevant performance period for the award had been the reporting period.

We exclude the effect of options from our diluted share calculation when the weighted average exercise price of the options is higher than the average market price, since including the options' effect would be anti-dilutive. For the quarters ended July 29, 2023 and July 30, 2022, we excluded options to purchase 0.7 million shares and 1.5 million shares from the diluted share calculation, respectively.