EARNINGS PER SHARE

9 Months Ended

Oct. 27, 2024

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 using the treasury stock method. 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 October 27, 2024
Basic	$	248,953	125,333	$	1.99
Effect of dilutive stock-based awards			1,559
Diluted	$	248,953	126,892	$	1.96
Thirteen weeks ended October 29, 2023
Basic	$	237,285	128,285	$	1.85
Effect of dilutive stock-based awards			1,264
Diluted	$	237,285	129,549	$	1.83
Thirty-nine weeks ended October 27, 2024
Basic	$	740,364	127,334	$	5.81
Effect of dilutive stock-based awards			1,685
Diluted	$	740,364	129,019	$	5.74
Thirty-nine weeks ended October 29, 2023
Basic	$	595,323	129,436	$	4.60
Effect of dilutive stock-based awards			1,160
Diluted	$	595,323	130,596	$	4.56

The effect of anti-dilutive stock-based awards was not material for the thirteen and thirty-nine weeks ended October 27, 2024 and October 29, 2023, respectively.