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NET INCOME PER COMMON SHARE
 12 Months Ended
Feb. 03, 2013
Earnings Per Share [Abstract]  
NET INCOME PER COMMON SHARE
NET INCOME PER COMMON SHARE

The Company utilizes the two-class method of calculating basic net income per common share, as holders of the Company’s Series A convertible preferred stock participated in dividends with holders of the Company’s common stock prior to the conversion in 2012 of such convertible preferred stock into common stock. Net losses are not allocated to holders of the Series A convertible preferred stock.

The Company computed its basic and diluted net income per common share as follows:

 
2012
 
2011
 
2010
Net income
$
433,840

 
$
275,697

 
$
54,377

Less:
 

 
 

 
 

Common stock dividends paid to holders of Series A convertible preferred stock
(366
)
 
(628
)
 
(471
)
Allocation of income to Series A convertible preferred stock
(12,179
)
 
(15,557
)
 
(2,098
)
Net income available to common stockholders for basic net income per common share
421,295

 
259,512

 
51,808

Add back:
 

 
 

 
 

Common stock dividends paid to holders of Series A convertible preferred stock
366

 
628

 
471

Allocation of income to Series A convertible preferred stock
12,179

 
15,557

 
2,098

Net income available to common stockholders for diluted net income per common share
$
433,840

 
$
275,697

 
$
54,377

 
 
 
 
 
 
Weighted average common shares outstanding for basic net income per common share
70,392

 
67,158

 
62,744

Weighted average impact of dilutive securities
1,397

 
1,576

 
1,455

Weighted average impact of dilutive warrant
—

 
—

 
72

Weighted average impact of assumed convertible preferred stock conversion
2,087

 
4,189

 
3,107

Total shares for diluted net income per common share
73,876

 
72,923

 
67,378

 
 
 
 
 
 
Basic net income per common share
$
5.98

 
$
3.86

 
$
0.83

 
 
 
 
 
 
Diluted net income per common share
$
5.87

 
$
3.78

 
$
0.81



Potentially dilutive securities excluded from the calculation of diluted net income per common share were as follows:
 
2012
 
2011
 
2010
Weighted average potentially dilutive securities
305

 
345

 
287



Contingently issuable shares that have not met the necessary conditions as of the end of a reporting period are not included in the calculation of diluted net income per common share for that period. The Company had contingently issuable awards outstanding that did not meet the performance conditions as of February 3, 2013, January 29, 2012 and January 30, 2011 and, therefore, were excluded from the calculation of diluted net income per common share for each applicable year. The maximum number of potentially dilutive shares that could be issued upon vesting for such awards was 100, 590 and 611 as of February 3, 2013, January 29, 2012 and January 30, 2011, respectively. These amounts were also excluded from the computation of weighted average antidilutive securities.