Earnings per share

9 Months Ended

Nov. 01, 2024

Earnings Per Share [Abstract]

Earnings per share

2. Earnings per share

Earnings per share is computed as follows (in thousands, except per share data):

	13 Weeks Ended November 1, 2024					13 Weeks Ended November 3, 2023
			Weighted					Weighted
	Net		Average	Per Share		Net		Average	Per Share
	Income		Shares	Amount		Income		Shares	Amount
Basic earnings per share	$	196,529	219,921	$	0.89	$	276,246	219,480	$	1.26
Effect of dilutive share-based awards			76					319
Diluted earnings per share	$	196,529	219,997	$	0.89	$	276,246	219,799	$	1.26
	39 Weeks Ended November 1, 2024					39 Weeks Ended November 3, 2023
			Weighted					Weighted
	Net		Average	Per Share		Net		Average	Per Share
	Income		Shares	Amount		Income		Shares	Amount
Basic earnings per share	$	934,036	219,857	$	4.25	$	1,259,461	219,359	$	5.74
Effect of dilutive share-based awards			181					594
Diluted earnings per share	$	934,036	220,038	$	4.24	$	1,259,461	219,953	$	5.73

Basic earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is determined based on the dilutive effect of share-based awards using the treasury stock method.

Share-based awards that were outstanding at the end of the respective periods but were not included in the computation of diluted earnings per share because the effect of exercising such awards would be antidilutive, were approximately 0.2 million and 0.1 million in the respective 13-week periods and 0.1 million in each of the 39-week periods ended November 1, 2024 and November 3, 2023.