XML 21 R11.htm IDEA: XBRL DOCUMENT v3.8.0.1
EARNINGS PER SHARE
 9 Months Ended
Oct. 28, 2017
EARNINGS PER SHARE  
EARNINGS PER SHARE

6. EARNINGS PER SHARE

 

The Company’s unvested restricted stock awards contain non-forfeitable rights to dividends and meet the criteria of a participating security as defined by ASC 260, “Earnings Per Share”. In applying the two-class method, net income is allocated to both common and participating securities based on their respective weighted-average shares outstanding for the period. Basic earnings per share is computed by dividing net income allocated to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share is computed by dividing income available to common shareholders by the weighted-average common shares outstanding plus the potential dilutive impact from stock options and restricted stock units. Common equivalent shares are excluded from the computation if their effect is anti-dilutive. There were 5.8 million and 2.7 million anti-dilutive shares during the third quarters of fiscal 2017 and fiscal 2016, respectively. There were 6.0 million and 2.0 million anti-dilutive shares during the nine months ended October 28, 2017 and October 29, 2016, respectively.

 

The following table sets forth the computation of basic and diluted earnings per common share (in thousands, except per share data):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

13 Weeks Ended

 

39 Weeks Ended

 

 

October 28,

 

October 29,

 

October 28,

 

October 29,

 

 

2017

 

2016

 

2017

 

2016

Basic earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

79,760

 

$

76,459

 

$

187,530

  

$

182,841

Less income related to unvested restricted shares

 

 

(297)

 

 

(462)

 

 

(789)

 

 

(1,180)

Income available to common shareholders - Basic

 

$

79,463

 

$

75,997

 

$

186,741

 

$

181,661

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average common shares outstanding - Basic

 

 

180,710

 

 

203,864

 

 

185,521

 

 

205,580

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per common share

 

$
0.44

 

$
0.37

 

$
1.01

 

$
0.88

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

79,760

 

$

76,459

 

$

187,530

 

$

182,841

Less income related to unvested restricted shares

 

 

(295)

 

 

(459)

 

 

(784)

 

 

(1,171)

Income available to common shareholders - Diluted

 

$

79,465

 

$

76,000

 

$

186,746

 

$

181,670

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average common shares outstanding - Basic

 

 

180,710

 

 

203,864

 

 

185,521

 

 

205,580

Effect of dilutive stock options and restricted stock units

 

 

1,277

 

 

1,449

 

 

1,254

 

 

1,713

Weighted-average common shares outstanding - Diluted

 

 

181,987

 

 

205,313

 

 

186,775

 

 

207,293

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per common share

 

$
0.44

 

$
0.37

 

$
1.00

 

$
0.88