Earnings Per Share

6 Months Ended

Jul. 29, 2017

Earnings Per Share

Earnings Per Share

4.  Earnings Per Share    

Basic earnings per common share allocated to common shareholders is computed by dividing net earnings by the weighted-average common shares outstanding during the period.  Diluted earnings per common share reflect the more dilutive earnings per common share amount calculated using the treasury stock method or the two-class method.  For the three and six months ended July 29, 2017, the treasury stock method is used to calculate diluted earnings per common share while the two-class method was used for the three and six months ended July 30, 2016.

Basic and diluted earnings per common share allocated to common shareholders are computed using the actual net earnings allocated to common shareholders and the actual weighted-average common shares outstanding rather than the rounded numbers presented within our condensed consolidated statement of earnings and the accompanying notes.  As a result, it may not be possible to recalculate earnings per common share allocated to common shareholders in our condensed consolidated statement of earnings and the accompanying notes. The following table sets forth the computation of basic and diluted earnings per common share allocated to common shareholders (in thousands, except per share amounts):

	For the Three Months Ended				For the Six Months Ended
	July 29,		July 30,		July 29,		July 30,
	2017		2016		2017		2016
Numerator
Net earnings	$	58,471	$	24,975	$	60,310	$	26,612
Net earnings allocated to participating securities (restricted stock and deferred stock units)		—		(31)		—		(31)
Net earnings allocated to common shareholders	$	58,471	$	24,944	$	60,310	$	26,581
Denominator
Basic weighted-average common shares outstanding		49,107		48,609		48,958		48,527
Dilutive effect of share-based awards		65		30		204		103
Diluted weighted-average common shares outstanding		49,172		48,639		49,162		48,630
Net earnings per common share allocated to common shareholders:
Basic	$	1.19	$	0.51	$	1.23	$	0.55
Diluted	$	1.19	$	0.51	$	1.23	$	0.55

For the three and six months ended July 29, 2017,  2.5 million and 2.0 million anti-dilutive shares of common stock were excluded from the calculation of diluted earnings per common share, respectively.  For the three and six months ended July 30, 2016, 2.0 million and 1.6 million anti-dilutive shares of common stock were excluded from the calculation of diluted earnings per common share, respectively.