Earnings Per Share

12 Months Ended

Jan. 28, 2017

EARNINGS PER SHARE

The Company uses the two-class method to compute basic and diluted earnings 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)	2016			2015			2014

NUMERATOR
Net earnings	$	66,086		$	81,824		$	82,943
Net earnings attributable to noncontrolling interests	(428		)	(345		)	(93		)
Net earnings allocated to participating securities	(1,750		)	(2,587		)	(3,068		)
Net earnings attributable to Caleres, Inc. after allocation of earnings to participating securities	63,908			78,892			79,782

DENOMINATOR
Denominator for basic earnings per common share attributable to Caleres, Inc. shareholders	42,026			42,455			42,071
Dilutive effect of share-based awards	155			201			203
Denominator for diluted earnings per common share attributable to Caleres, Inc. shareholders	42,181			42,656			42,274

Basic earnings per common share attributable to Caleres, Inc. shareholders	$	1.52		$	1.86		$	1.90

Diluted earnings per common share attributable to Caleres, Inc. shareholders	$	1.52		$	1.85		$	1.89

Options to purchase 63,915, 56,997 and 64,497 shares of common stock in 2016, 2015 and 2014, respectively, were not included in the denominator for diluted earnings per common share attributable to Caleres, Inc. shareholders because the effect would be antidilutive.

The Company repurchased 900,000 and 151,500 shares during the years ended January 28, 2017 and January 30, 2016, respectively, under the publicly announced share repurchase program, which permits repurchases of up to 2.5 million shares. As of January 28, 2017, the Company has repurchased a total of 1.1 million shares at a cost of $28.1 million.