Income Per Common Share

12 Months Ended

Feb. 01, 2020

(4)

Income Per Common Share

Basic income per common share amounts are calculated using the weighted-average number of common shares outstanding for the period. Diluted income per common share amounts are calculated using the weighted-average number of common shares outstanding for the period and include the dilutive impact of exercise of stock options as well as assumed vesting of restricted stock awards and shares currently available for purchase under the Company's Employee Stock Purchase Plan, using the treasury stock method. Performance-based restricted stock units are considered contingently issuable shares for diluted income per common share purposes and the dilutive impact, if any, is not included in the weighted-average shares until the performance conditions are met.

The following table reconciles net income and the weighted average common shares outstanding used in the computations of basic and diluted income per common share (in thousands, except for share and per share data):



	Fiscal Year
	2019		2018		2017
Numerator:
Net income	$	175,056	$	149,645	$	102,451
Denominator:
Weighted average common shares outstanding - basic	55,823,535		55,763,034		55,208,246
Dilutive impact of options, restricted stock units, and employee stock purchase plan	342,632		457,830		353,226
Weighted average common shares outstanding - diluted	56,166,167		56,220,864		55,561,472
Per common share:
Basic income per common share	$	3.14	$	2.68	$	1.86
Diluted income per common share	$	3.12	$	2.66	$	1.84

The effects of the assumed exercise of stock options outstanding as of February 3, 2018 for 66,624 shares of common stock were excluded from the fiscal 2017 calculation of diluted income per common share as their impact would have been anti-dilutive.

The effects of restricted stock units outstanding as of February 1, 2020, February 2, 2019 and February 3, 2018 for 576, 2,315 and 13,323 shares of common stock, respectively, were excluded from the fiscal 2019, fiscal 2018 and fiscal 2017 calculation of diluted income per common share as their impact would have been anti-dilutive.

The aforementioned excluded shares do not reflect the impact of any incremental repurchases under the treasury stock method.