EARNINGS PER SHARE

6 Months Ended

Jul. 31, 2022

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHARE

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 July 31, 2022
Basic	$	267,075	68,180	$	3.92
Effect of dilutive stock-based awards			901
Diluted	$	267,075	69,081	$	3.87
Thirteen weeks ended August 1, 2021
Basic	$	246,070	74,786	$	3.29
Effect of dilutive stock-based awards			1,798
Diluted	$	246,070	76,584	$	3.21
Twenty-six weeks ended July 31, 2022
Basic	$	521,188	69,516	$	7.50
Effect of dilutive stock-based awards			1,328
Diluted	$	521,188	70,844	$	7.36
Twenty-six weeks ended August 1, 2021
Basic	$	473,872	75,293	$	6.29
Effect of dilutive stock-based awards			2,223
Diluted	$	473,872	77,516	$	6.11

The effect of anti-dilutive stock-based awards was not material for the thirteen and twenty-six weeks ended July 31, 2022 and August 1, 2021, respectively.