Income per Share

9 Months Ended

Jan. 28, 2023

Note 10. Income per Share

Basic income per share is calculated by dividing net income by the weighted average number of common shares outstanding for the applicable period but excludes any contingently issued shares where the contingency has not been resolved. The weighted average number of common shares used in the diluted income per share calculation is determined using the treasury stock method which includes the effect of all potential dilutive common shares outstanding during the period.

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


	Three Months Ended				Nine Months Ended
	January 28, 2023		January 29, 2022		January 28, 2023		January 29, 2022
Numerator:
Net income (in millions)	$	19.9	$	29.4	$	69.0	$	86.0

Denominator:
Denominator for basic income per share - weighted average shares outstanding and vested/unissued restricted stock units		35,757,465		36,853,617		36,149,858		37,445,822
Dilutive potential common shares		819,530		622,273		728,351		559,881
Denominator for diluted income per share		36,576,995		37,475,890		36,878,209		38,005,703

Basic and diluted income per share:
Basic income per share	$	0.56	$	0.80	$	1.91	$	2.30
Diluted income per share	$	0.54	$	0.78	$	1.87	$	2.26

Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding		949,674		928,412		939,573		928,412