Income Per Share

12 Months Ended

May 01, 2021

Earnings Per Share [Abstract]

Income Per Share

Note 14. Income Per Share

Basic income per share is calculated by dividing net income by the number of weighted average common shares outstanding for the applicable period. The weighted average number of common shares used in the diluted income per share calculation is determined using the treasury stock method which includes the effect of all potential dilutive common shares outstanding during the period.

The following table sets forth the computation of basic and diluted income per share:

	Fiscal Year Ended
	May 1, 2021		May 2, 2020		April 27, 2019
	(52 Weeks)		(53 Weeks)		(52 Weeks)
Numerator:
Net income (in millions)	$	122.3	$	123.4	$	91.6
Denominator:
Denominator for basic income per share - weighted average shares outstanding and vested/unissued RSUs		38,038,615		37,574,671		37,405,298
Dilutive potential common shares - stock options, RSAs and RSUs		267,671		269,799		264,262
Denominator for diluted income per share		38,306,286		37,844,470		37,669,560
Basic and diluted income per share:
Basic income per share	$	3.22	$	3.28	$	2.45
Diluted income per share	$	3.19	$	3.26	$	2.43
Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding		738,167		566,620		678,321