EARNINGS PER SHARE

3 Months Ended

May 02, 2021

Basic earnings per share is computed as net earnings divided by the weighted average number of common shares outstanding for the period. Diluted earnings per share is computed as net earnings divided by the weighted average number of common shares outstanding and common stock equivalents outstanding for the period. Common stock equivalents consist of shares subject to stock-based awards with exercise prices less than or equal to the average market price of our common stock for the period, to the extent their inclusion would be dilutive.

The following is a reconciliation of net earnings and the number of shares used in the basic and diluted earnings per share computations:


In thousands, except per share amounts	Net Earnings		Weighted Average Shares	Earnings Per Share
Thirteen weeks ended May 2, 2021
Basic	$	227,802	75,800	$	3.01
Effect of dilutive stock-based awards			2,685
Diluted	$	227,802	78,485	$	2.90
Thirteen weeks ended May 3, 2020
Basic	$	35,423	77,262	$	0.46
Effect of dilutive stock-based awards			1,137
Diluted	$	35,423	78,399	$	0.45

Stock-based awards of 12,000 and 8,000 were excluded from the computation of diluted earnings per share for the thirteen weeks ended May 2, 2021 and May 3, 2020, respectively, as their inclusion would be anti-dilutive.