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Computation of Earnings Per Common Share (Tables)
9 Months Ended
Oct. 27, 2018
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share Reconciliation
The following table sets forth the computation of basic and diluted earnings per common share (dollars in thousands, except per share amounts):
 
For the Three Months Ended
 
For the Nine Months Ended
 
October 27, 2018
 
October 28, 2017
 
October 27, 2018
 
October 28, 2017
Net income available to common stockholders (numerator)
$
27,830

 
$
28,776

 
$
74,961

 
$
111,280

 
 
 
 
 
 
 
 
Weighted-average number of common shares (denominator)
31,246,591

 
31,061,448

 
31,214,172

 
31,167,753

 
 
 
 
 
 
 
 
Basic earnings per common share
$
0.89

 
$
0.93

 
$
2.40

 
$
3.57

 
 
 
 
 
 
 
 
Weighted-average number of common shares
31,246,591

 
31,061,448

 
31,214,172

 
31,167,753

Potential shares of common stock arising from stock options, and unvested restricted share units
587,951

 
830,126

 
605,992

 
654,353

Potential shares of common stock issuable on conversion of 0.75% convertible senior notes due 2021(1)

 

 
245,065

 

Total shares-diluted (denominator)
31,834,542

 
31,891,574

 
32,065,229

 
31,822,106

 
 
 
 
 
 
 
 
Diluted earnings per common share
$
0.87

 
$
0.90

 
$
2.34

 
$
3.50

 
 
 
 
 
 
 
 
Anti-dilutive weighted shares excluded from the calculation of earnings per common share:
Stock-based awards
121,722

 
125,074

 
68,395

 
102,268

0.75% convertible senior notes due 2021
5,005,734

 
5,005,734

 
4,760,669

 
5,005,734

Warrants
5,005,734

 
5,005,734

 
5,005,734

 
5,005,734

Total
10,133,190

 
10,136,542

 
9,834,798

 
10,113,736



(1) Under the treasury stock method, the convertible senior notes will have a dilutive impact on earnings per common share if the Company’s average stock price for the period exceeds the $96.89 per share conversion price for the convertible senior notes. The warrants associated with the Company’s convertible senior notes will have a dilutive impact on earnings per common share if the Company’s average stock price for the period exceeds the $130.43 per share warrant strike price. During the first and second quarters of fiscal 2019, the Company’s average stock price of $110.46 and $99.27, respectively, each exceeded the conversion price for the convertible senior notes. As a result, shares presumed to be issuable under the convertible senior notes that were dilutive during the first and second quarters of fiscal 2019 are included in the calculation of diluted earnings per share for the nine months ended October 27, 2018. As the Company’s average stock price did not exceed the strike price for the warrants, the underlying common shares were anti-dilutive as reflected in the table above.