($ thousands, except per share amounts)

2024

2023

2022

NUMERATOR

Net earnings

$

106,097

$

171,832

$

179,695

Net loss (earnings) attributable to noncontrolling interests

1,158

(441)

2,047

Net earnings attributable to Caleres, Inc.

$

107,255

$

171,391

$

181,742

Net earnings allocated to participating securities

(3,839)

(7,517)

(7,716)

Net earnings attributable to Caleres, Inc. after allocation of earnings to participating securities

$

103,416

$

163,874

$

174,026

DENOMINATOR

Denominator for basic earnings per common share attributable to Caleres, Inc. shareholders

33,397

34,142

34,930

Dilutive effect of share-based awards

116

10

475

Denominator for diluted earnings per common share attributable to Caleres, Inc. shareholders

33,513

34,152

35,405

Basic earnings per common share attributable to Caleres, Inc. shareholders

$

3.10

$

4.80

$

4.98

Diluted earnings per common share attributable to Caleres, Inc. shareholders

$

3.09

$

4.80

$

4.92