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 lapse of restrictions on 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 two-class method is used to calculate basic and diluted income per common share for the applicable periods since certain of the Company's restricted stock were participating securities. The two-class method is an earnings allocation formula that determines income per share for each class of common stock and participating security according to dividends declared (or accumulated) and participation rights in undistributed earnings. Under the two-class method, basic income per common share is computed by dividing net income attributable to common shares after allocation of income to participating securities by the weighted-average number of common shares outstanding during the year. Diluted income per common share is computed using the more dilutive of the two-class method or the if-converted method. In periods of net loss, no effect is given to participating securities since they do not contractually participate in the losses of the Company. The two-class method is the more dilutive method for fiscal 2014 and fiscal 2013. As of January 31, 2015, the Company no longer has any outstanding participating securities.

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
	2015		2014			2013
Numerator:
Net income	$	57,680	$	48,024		$	32,142
Net income attributable to participating securities	—		(20		)	(465		)
Net income attributable to common shareholders	$	57,680	$	48,004		$	31,677
Denominator:
Weighted average common shares outstanding - basic	54,513,622		54,219,801			53,294,805
Dilutive impact of options, restricted stock units, and employee stock purchase plan	279,679		354,054			447,055
Weighted average common shares outstanding - diluted	54,793,301		54,573,855			53,741,860
Per common share:
Basic income per common share	$	1.06	$	0.89		$	0.59
Diluted income per common share	$	1.05	$	0.88		$	0.59

For fiscal 2014 and fiscal 2013, $20.0 thousand and $0.5 million respectively, of net income was attributable to participating securities, as the two-class method was more dilutive, and the remainder was attributable to common shareholders.

The effects of the assumed exercise of stock options outstanding as of January 30, 2016 for 710,153 shares of common stock were excluded from the fiscal 2015 calculation of diluted net income per share as their impact would have been anti-dilutive.

The effects of non-vested restricted stock units outstanding as of January 30, 2016 for approximately 6,500 shares of common stock were excluded from the fiscal 2015 calculation of diluted net income per share as their impact would have been anti-dilutive.

The effects of the assumed exercise of stock options outstanding as of January 31, 2015 for 593,773 shares of common stock were excluded from the fiscal 2014 calculation of diluted net income per share as their impact would have been anti-dilutive.

The effects of non-vested restricted stock units outstanding as of January 31, 2015 for 3,930 shares of common stock were excluded from the fiscal 2014 calculation of diluted net income per share as their impact would have been anti-dilutive.

The effects of the assumed exercise of stock options outstanding as of February 1, 2014 for 388,197 shares of common stock were excluded from the fiscal 2013 calculation of diluted net income per 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.