Earnings Per Share

6 Months Ended

May 02, 2020

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

The Company utilized the two-class method for calculating earnings per share because certain restricted stock awards granted were participating securities containing non-forfeitable rights to receive dividend equivalents. Under the two-class method, a portion of net income is allocated to these participating securities and therefore is excluded from the calculation of earnings per share allocated to common stock. The following table sets forth the computation of basic and diluted earnings per share:

	Three Months Ended				Six Months Ended
	May 2, 2020		May 4, 2019		May 2, 2020		May 4, 2019
Net Income	$	267,696	$	367,937	$	471,570	$	722,943
Less: income allocated to participating securities*	—		908		—		1,932
Net income allocated to common stockholders	$	267,696	$	367,029	$	471,570	$	721,011
Basic shares:
Weighted-average shares outstanding	368,217		369,246		368,229		368,974
Earnings per common share basic:	$	0.73	$	0.99	$	1.28	$	1.95
Diluted shares:
Weighted-average shares outstanding	368,217		369,246		368,229		368,974
Assumed exercise of common stock equivalents	3,088		4,096		3,555		3,938
Weighted-average common and common equivalent shares	371,305		373,342		371,784		372,912
Earnings per common share diluted:	$	0.72	$	0.98	$	1.27	$	1.93
Anti-dilutive shares related to:
Outstanding stock-based awards	681		432		539		1,222
*The amounts in the three-month and six-month periods ended May 2, 2020 are not material.