EARNINGS PER SHARE

9 Months Ended

Oct. 30, 2016

NOTE D. EARNINGS PER SHARE

Basic earnings per share is computed as net earnings divided by the weighted average number of common shares outstanding for the period. Diluted earnings per share is computed as net earnings divided by the weighted average number of common shares outstanding and common stock equivalents for the period. Common stock equivalents consist of shares subject to stock-based awards with exercise prices less than or equal to the average market price of our common stock for the period, to the extent their inclusion would be dilutive.

The following is a reconciliation of net earnings and the number of shares used in the basic and diluted earnings per share computations:


In thousands, except per share amounts	Net Earnings		Weighted Average Shares		Earnings Per Share
Thirteen weeks ended October 30, 2016
Basic	$	69,378		88,382	$	0.78
Effect of dilutive stock-based awards				762
Diluted	$	69,378		89,144	$	0.78
Thirteen weeks ended November 1, 2015
Basic	$	70,482		90,437	$	0.78
Effect of dilutive stock-based awards				1,364
Diluted	$	70,482		91,801	$	0.77
Thirty-nine weeks ended October 30, 2016
Basic	$	160,760		88,906	$	1.81
Effect of dilutive stock-based awards				858
Diluted	$	160,760		89,764	$	1.79
Thirty-nine weeks ended November 1, 2015
Basic	$	168,940		91,129	$	1.85
Effect of dilutive stock-based awards				1,447
Diluted	$	168,940		92,576	$	1.82

Stock-based awards of 610,000 and 540,000 were excluded from the computation of diluted earnings per share for the thirteen and thirty-nine weeks ended October 30, 2016, as their inclusion would be anti-dilutive. There were no stock-based awards excluded from the computation of diluted earnings per share for the thirteen or thirty-nine weeks ended November 1, 2015.