Computation of Earnings Per Common Share (Tables)

9 Months Ended

Oct. 24, 2020

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 24, 2020		October 26, 2019		October 24, 2020		October 26, 2019
Net income available to common stockholders (numerator)	$	33,926	$	24,229	$	38,532	$	68,404
Weighted-average number of common shares (denominator)	31,878,583		31,502,543		31,744,199		31,480,759
Basic earnings per common share	$	1.06	$	0.77	$	1.21	$	2.17
Weighted-average number of common shares	31,878,583		31,502,543		31,744,199		31,480,759
Potential shares of common stock arising from stock options, and unvested restricted share units	546,717		324,302		362,462		330,746
Total shares-diluted (denominator)	32,425,300		31,826,845		32,106,661		31,811,505
Diluted earnings per common share	$	1.05	$	0.76	$	1.20	$	2.15
Anti-dilutive weighted shares excluded from the calculation of earnings per common share:
Stock-based awards	238,226		239,540		245,633		256,269
0.75% convertible senior notes due 2021(1) (2)	601,349		5,005,734		2,116,093		5,005,734
Warrants(1) (2)	601,349		5,005,734		2,116,093		5,005,734
Total	1,440,924		10,251,008		4,477,819		10,267,737

(1) Under the treasury stock method, our 0.75% convertible senior notes (“Notes”) will have a dilutive impact on earnings per common share if our average stock price for the period exceeds the $96.89 per share conversion price. Our average stock price did not exceed the per share conversion price during the three or nine months ended October 24, 2020; therefore, there was no dilutive impact on earnings per common share for these periods. The warrants associated with our Notes will have a dilutive impact on earnings per common share if our average stock price for the period exceeds the $130.43 per share warrant strike price. As our average stock price did not exceed the strike price for the warrants for any of the periods presented, the underlying common shares were anti-dilutive as reflected in the table above.

(2) In connection with the purchase of $401.7 million of the Notes in fiscal 2021 and $25.0 million in fiscal 2020, we unwound convertible note hedge transactions and warrants proportionately to the number of Notes, resulting in a decrease in the number of excluded weighted shares.