Earnings Per Share

6 Months Ended

May 02, 2015

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

Basic earnings per share is computed based only on the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed using the weighted average number of common shares outstanding during the period, plus the dilutive effect of potential future issuances of common stock relating to stock option programs and other potentially dilutive securities using the treasury stock method. In calculating diluted earnings per share, the dilutive effect of stock options is computed using the average market price for the respective period. In addition, the assumed proceeds under the treasury stock method include the average unrecognized compensation expense of stock options that are in-the-money and restricted stock units. This results in the “assumed” buyback of additional shares, thereby reducing the dilutive impact of in-the-money stock options. Potential shares related to certain of the Company’s outstanding stock options were excluded because they were anti-dilutive. Those potential shares, determined based on the weighted average exercise prices during the respective periods, related to the Company’s outstanding stock options could be dilutive in the future.

The following table sets forth the computation of basic and diluted earnings per share:

	Three Months Ended				Six Months Ended
	May 2, 2015		May 3, 2014		May 2, 2015		May 3, 2014
Net Income	$	205,338	$	187,433	$	384,095	$	340,019
Basic shares:
Weighted-average shares outstanding	312,660		313,488		311,967		312,887
Earnings per share basic:	$	0.66	$	0.60	$	1.23	$	1.09
Diluted shares:
Weighted-average shares outstanding	312,660		313,488		311,967		312,887
Assumed exercise of common stock equivalents	4,387		4,859		4,398		5,295
Weighted-average common and common equivalent shares	317,047		318,347		316,365		318,182
Earnings per share diluted:	$	0.65	$	0.59	$	1.21	$	1.07
Anti-dilutive shares related to:
Outstanding stock options	1,879		2,981		2,042		2,611