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Earnings Per Share
12 Months Ended
Jan. 29, 2022
Earnings Per Share [Abstract]  
Earnings Per Share

Note 14

Earnings Per Share

Basic earnings per share excludes dilution and is computed by dividing earnings available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities to issue common stock were exercised or converted to common stock.

Note 14

Earnings Per Share, Continued

Weighted-average number of shares used for earnings per share is as follows:

 

 

 

Fiscal Year

 

(Shares in thousands)

 

2022

 

 

2021

 

 

2020

 

Weighted-average number of shares - basic

 

 

14,170

 

 

 

14,216

 

 

 

15,544

 

Common stock equivalents

 

 

339

 

 

 

0

 

 

 

127

 

Weighted-average number of shares - diluted

 

 

14,509

 

 

 

14,216

 

 

 

15,671

 

 

Common stock equivalents are excluded in Fiscal 2021 due to the loss from continuing operations.

We repurchased 1,360,909 shares during Fiscal 2022 at a cost of $82.8 million or an average of $60.88 per share. We accrued $4.8 million for share repurchases as of January 29, 2022 which is included in other accrued liabilities on the Consolidated Balance Sheets. We were operating under a $100.0 million repurchase authorization from September 2019. In February 2022, we announced a $100.0 million increase to the existing $100.0 million share repurchase authorization. As of March 23, 2022, we have $100.3 million remaining under the expanded share repurchase authorization. We did not repurchase any shares in Fiscal 2021. We repurchased 4,570,015 shares during Fiscal 2020 at a cost of $189.4 million or an average of $41.44 per share.