EARNINGS PER SHARE

3 Months Ended

May 01, 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
Thirteen weeks ended May 1, 2022
Basic	$	254,113	70,851	$	3.59
Effect of dilutive stock-based awards			1,801
Diluted	$	254,113	72,652	$	3.50
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

The effect of anti-dilutive stock-based awards was not material for the thirteen weeks ended May 1, 2022 and May 2, 2021, respectively.