Earnings Per Share

12 Months Ended

Jan. 30, 2016

EARNINGS PER SHARE

The Company uses the two-class method to compute basic and diluted earnings (loss) per common share attributable to Caleres, Inc. shareholders. In periods of net loss, no effect is given to the Company’s participating securities since they do not contractually participate in the losses of the Company. The following table sets forth the computation of basic and diluted earnings per common share attributable to Caleres, Inc. shareholders:





(in $ thousands, except per share amounts)	2015			2014			2013

NUMERATOR
Net earnings from continuing operations	$	81,824		$	82,943		$	53,982
Net (earnings) loss attributable to noncontrolling interests	(345		)	(93		)	177
Net earnings allocated to participating securities	(2,587		)	(3,068		)	(2,304		)
Net earnings from continuing operations	78,892			79,782			51,855

Net loss from discontinued operations	—			—			(16,086)
Net loss allocated to participating securities	—			—			687
Net loss from discontinued operations	—			—			(15,399)
Net earnings attributable to Caleres, Inc. after allocation of earnings to participating securities	$	78,892		$	79,782		$	36,456

DENOMINATOR
Denominator for basic continuing and discontinued earnings per common share attributable to Caleres, Inc. shareholders	42,455			42,071			41,356
Dilutive effect of share-based awards for continuing operations and discontinued operations	201			203			297
Denominator for diluted continuing and discontinued earnings per common share attributable to Caleres, Inc. shareholders	42,656			42,274			41,653

Basic earnings (loss) per common share:
From continuing operations	$	1.86		$	1.90		$	1.25
From discontinued operations	—			—			(0.37		)
Basic earnings per common share attributable to Caleres, Inc. shareholders	$	1.86		$	1.90		$	0.88

Diluted earnings (loss) per common share:
From continuing operations	$	1.85		$	1.89		$	1.25
From discontinued operations	—			—			(0.37		)
Diluted earnings per common share attributable to Caleres, Inc. shareholders	$	1.85		$	1.89		$	0.88

Options to purchase 56,997, 64,497 and 86,247 shares of common stock in 2015, 2014 and 2013, respectively, were not included in the denominator for diluted earnings per common share attributable to Caleres, Inc. shareholders because the effect would be antidilutive.