EARNINGS PER SHARE

Basic earnings per share is based on net income and the weighted average of Class A and Class B Common Shares outstanding. Diluted earnings per share reflects the potential dilution of common shares adjusted for outstanding stock options, restricted stock units ("RSUs"), and performance-based restricted stock units ("PSUs") calculated using the treasury stock method.

The following is a reconciliation of the number of shares used in the calculation of earnings per share:



	Three months ended		Nine months ended
	October 28, 2017	October 29, 2016	October 28, 2017	October 29, 2016
	(in thousands)
Weighted average shares outstanding - Basic shares	80,112	82,026	80,215	82,011
Dilutive effect of stock-based compensation awards	535	511	484	632
Weighted average shares outstanding - Diluted shares	80,647	82,537	80,699	82,643

For the three months ended October 28, 2017 and October 29, 2016, the number of potential shares that were not included in the computation of diluted earnings per share because the effect would be anti-dilutive was 4.5 million and 3.1 million, respectively. For the nine months ended October 28, 2017 and October 29, 2016, the number of potential shares that were not included in the computation of diluted earnings per share because the effect would be anti-dilutive was 4.4 million and 3.3 million, respectively.