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Net Income Per Share
 9 Months Ended
Nov. 02, 2013
Notes to Financial Statements [Abstract]  
Net Income Per Share
Earnings Per Share
The following table presents a reconciliation of basic and diluted earnings per share for the quarters and nine months ended November 2, 2013 and October 27, 2012:
 
Quarter Ended
 
November 2, 2013
 
October 27, 2012
 
(in thousands, except per share amounts)
Basic Earnings per Share:
Net
Income
 
Shares
 
Per
Share
Amount
 
Net
Income
 
Shares
 
Per
Share
Amount
Net income
$
41,189

 
 
 
 
 
$
40,748

 
 
 
 
Less net income associated with participating securities
824

 
 
 
 
 
562

 
 
 
 
Basic earnings per share
$
40,365

 
44,967

 
$
0.90

 
$
40,186

 
47,422

 
$
0.85

Diluted Earnings per Share:
 
 
 
 
 
 
 
 
 
 
 
Net income
$
41,189

 
 
 
 
 
$
40,748

 
 
 
 
Less net income associated with participating securities
816

 
 
 
 
 
555

 
 
 
 
Effect of dilutive securities
 
 
476

 
 
 
 
 
551

 
 
Diluted earnings per share
$
40,373

 
45,443

 
$
0.89

 
$
40,193

 
47,973

 
$
0.84





4.
Earnings Per Share (Continued)
 
Nine Months Ended
 
November 2, 2013
 
October 27, 2012
 
(in thousands, except per share amounts)
Basic Earnings per Share:
Net
Income
 
Shares
 
Per
Share
Amount
 
Net
Income
 
Shares
 
Per
Share
Amount
Net income
$
97,750

 
 
 
 
 
$
100,215

 
 
 
 
Less net income associated with participating securities
1,892

 
 
 
 
 
1,454

 
 
 
 
Basic earnings per share
$
95,858

 
45,581

 
$
2.10

 
$
98,761

 
47,638

 
$
2.07

Diluted Earnings per Share:
 
 
 
 
 
 
 
 
 
 
 
Net income
$
97,750

 
 
 
 
 
$
100,215

 
 
 
 
Less net income associated with participating securities
1,874

 
 
 
 
 
1,436

 
 
 
 
Effect of dilutive securities
 
 
455

 
 
 
 
 
618

 
 
Diluted earnings per share
$
95,876

 
46,036

 
$
2.08

 
$
98,779

 
48,256

 
$
2.05


For the quarter and nine months ended November 2, 2013, non-participating securities (stock options) representing 585,250 and 698,040 shares of common stock, respectively, were excluded from the computation of weighted average shares for diluted earnings per share due to their antidilutive effect, since their exercise prices exceeded the average market price of the common shares during those periods.
For the quarter and nine months ended October 27, 2012, non-participating securities (stock options) representing 616,175 and 1,637,275 shares of common stock, respectively, were excluded from the computation of weighted average shares for diluted earnings per share due to their antidilutive effect, since their exercise prices exceeded the average market price of the common shares during those periods. In addition, for the quarter and nine months ended October 27, 2012, non-participating securities (performance-based restricted units) representing 23,003 and 15,890 shares of common stock, respectively, were excluded from the computation of weighted average shares for diluted earnings per share due to the fact that they are contingently issuable securities whose contingency was not met at certain dates during those periods. No such shares were excluded from the computation of weighted average shares for diluted earnings per share for the nine months ended November 2, 2013. In addition, no such shares were outstanding during the quarter ended November 2, 2013, as all outstanding performance-based restricted units vested in shares during the first quarter of Fiscal 2013.