Earnings Per Share

12 Months Ended

Jan. 30, 2022

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 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
Fiscal 2021
Basic	$	1,126,337	74,272	$	15.17
Effect of dilutive stock-based awards			2,082
Diluted	$	1,126,337	76,354	$	14.75
Fiscal 2020
Basic	$	680,714	77,260	$	8.81
Effect of dilutive stock-based awards			1,795
Diluted	$	680,714	79,055	$	8.61
Fiscal 2019
Basic	$	356,062	78,108	$	4.56
Effect of dilutive stock-based awards			1,117
Diluted	$	356,062	79,225	$	4.49

Stock-based awards of 6,000, 9,000, and 46,000 were excluded from the computation of diluted earnings per share in fiscal 2021, fiscal 2020 and fiscal 2019, respectively, as their inclusion would be anti-dilutive.