Earnings Per Share

3 Months Ended

Apr. 29, 2023

The Company computes and reports both basic earnings per share (“EPS”) and diluted EPS. Basic EPS is computed by dividing net earnings by the weighted-average number of common shares outstanding for the period. Diluted EPS is computed by dividing net earnings by the sum of the weighted-average number of common shares and dilutive common stock equivalents outstanding during the period. Diluted EPS reflects the total potential dilution that could occur from outstanding equity plan awards and unvested shares of both performance and non-performance based awards of restricted stock and restricted stock units.

For the three month periods ended April 29, 2023 and April 30, 2022, approximately 20,000 and 677,000 weighted-average shares were excluded from the calculation of diluted EPS, respectively, because their effect would have been anti-dilutive for the periods presented.

The following is a reconciliation of the number of shares (denominator) used in the basic and diluted EPS computations:


	Three Months Ended
Shares in (000s)	Basic EPS		Effect of dilutive common stock equivalents		Diluted EPS
April 29, 2023
Shares	338,049		1,995		340,044
Amount	$	1.10	$	(0.01)	$	1.09

April 30, 2022
Shares	347,053		1,767		348,820
Amount	$	0.98	$	(0.01)	$	0.97