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EARNINGS PER SHARE
 12 Months Ended
Feb. 03, 2018
EARNINGS PER SHARE  
EARNINGS PER SHARE

11. 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 the exercise of stock options and restricted stock units. Common equivalent shares are excluded from the computation if their effect is anti-dilutive. There were  5.5  million,  2.3 million and 0.8 million anti-dilutive shares in fiscal 2017, fiscal 2016 and fiscal 2015, respectively.

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal Year

 

 

2017

    

2016

    

2015

Basic earnings per common share:

 

 

 

 

 

 

 

 

 

Net income

  

$

390,498

  

$

378,159

  

$

362,912

Less income related to unvested restricted shares

 

 

(1,519)

 

 

(2,323)

 

 

(1,900)

Income available to common shareholders - Basic

 

$

388,979

 

$

375,836

 

$

361,012

 

 

 

 

 

 

 

 

 

 

Weighted-average common shares outstanding - Basic

 

 

184,281

 

 

204,735

 

 

206,845

 

 

 

 

 

 

 

 

 

 

Basic earnings per common share

 

$

2.11

 

$

1.84

 

$

1.75

 

 

 

 

 

 

 

 

 

 

Diluted earnings per common share:

 

 

 

 

 

 

 

 

 

Net income

 

$

390,498

 

$

378,159

 

$

362,912

Less income related to unvested restricted shares

 

 

(1,508)

 

 

(2,305)

 

 

(1,877)

Income available to common shareholders - Diluted

 

$

388,990

 

$

375,854

 

$

361,035

 

 

 

 

 

 

 

 

 

 

Weighted-average common shares outstanding - Basic

 

 

184,281

 

 

204,735

 

 

206,845

Effect of dilutive stock options and restricted stock units

 

 

1,285

 

 

1,619

 

 

2,501

Weighted-average common shares outstanding - Diluted

 

 

185,566

 

 

206,354

 

 

209,346

 

 

 

 

 

 

 

 

 

 

Diluted earnings per common share

 

$

2.10

 

$

1.82

 

$

1.72