Earnings per share

6 Months Ended

Aug. 01, 2015



	13 weeks ended				26 weeks ended
(in millions, except per share amounts)	August 1, 2015		August 2, 2014		August 1, 2015		August 2, 2014
Net income	$	62.2	$	58.0	$	181.0	$	154.6
Basic weighted average number of shares outstanding	79.7		79.9		79.8		79.9
Dilutive effect of share awards	0.2		0.3		0.2		0.3
Diluted weighted average number of shares outstanding	79.9		80.2		80.0		80.2
Earnings per share – basic	$	0.78	$	0.73	$	2.27	$	1.93
Earnings per share – diluted	$	0.78	$	0.72	$	2.26	$	1.93

The basic weighted average number of shares outstanding excludes non-vested time-based restricted shares, shares held by the Employee Stock Ownership Trust and treasury shares. Such shares are not considered outstanding and do not qualify for dividends, except for time-based restricted shares for which dividends are earned and payable by the Company subject to full vesting. The effect of excluding these shares is to reduce the average number of shares in the 13 and 26 weeks ended August 1, 2015 by 7,447,046 and 7,327,100 shares, respectively (13 and 26 weeks ended August 2, 2014: 7,299,705 and 7,286,160 shares, respectively). The calculation of fully diluted EPS for the 13 and 26 weeks ended August 1, 2015 excludes share awards of 72,406 shares (13 and 26 weeks ended August 2, 2014: 5,128 and 2,564 share awards, respectively) on the basis that their effect would be anti-dilutive.