Net Income Per Share

6 Months Ended

Aug. 03, 2019

NOTE 12—NET INCOME PER SHARE

The weighted-average shares used for net income per share are as follows:


	Three Months Ended		Six Months Ended
	August 3,	August 4,	August 3,	August 4,
	2019	2018	2019	2018
Weighted-average shares—basic	18,465,876	21,925,702	19,221,367	21,735,364
Effect of dilutive stock-based awards	3,858,236	5,158,591	4,165,391	4,421,897
Effect of dilutive convertible senior notes⁽¹⁾	—	412,268	242,292	206,134
Weighted-average shares—diluted	22,324,112	27,496,561	23,629,050	26,363,395

(1)

The 2019 Notes, 2020 Notes and 2023 Notes have an impact on the Company’s dilutive share count beginning at stock prices of $116.09 per share, $118.13 per share and $193.65 per share, respectively. The 2019 Notes matured on June 15, 2019 and did not have an impact of the Company’s dilutive share count post-maturity.

The following number of options and restricted stock units were excluded from the calculation of diluted net income per share because their inclusion would have been anti-dilutive:


	Three Months Ended		Six Months Ended
	August 3,	August 4,	August 3,	August 4,
	2019	2018	2019	2018
Options	717,627	209,441	590,567	347,978
Restricted stock units	—	—	—	5,250
Total anti-dilutive stock-based awards	717,627	209,441	590,567	353,228