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Net Income Per Share
 9 Months Ended
Nov. 01, 2014
Notes to Financial Statements [Abstract]  
Net Income Per Share
Earnings Per Share
The following tables present a reconciliation of basic and diluted earnings per share for the quarters and nine months ended November 1, 2014 and November 2, 2013:
 
Quarter Ended
 
November 1, 2014
 
November 2, 2013
 
(in thousands, except per share amounts)
Basic Earnings per Share:
Net
Income
 
Shares
 
Per
Share
Amount
 
Net
Income
 
Shares
 
Per
Share
Amount
Net income
$
29,856

 
 
 
 
 
$
41,189

 
 
 
 
Less net income associated with participating securities
616

 
 
 
 
 
824

 
 
 
 
Basic earnings per share
$
29,240

 
44,799

 
$
0.65

 
$
40,365

 
44,967

 
$
0.90

Diluted Earnings per Share:
 
 
 
 
 
 
 
 
 
 
 
Net income
$
29,856

 
 
 
 
 
$
41,189

 
 
 
 
Less net income associated with participating securities
610

 
 
 
 
 
816

 
 
 
 
Effect of dilutive securities
 
 
443

 
 
 
 
 
476

 
 
Diluted earnings per share
$
29,246

 
45,242

 
$
0.65

 
$
40,373

 
45,443

 
$
0.89


 
Nine Months Ended
 
November 1, 2014
 
November 2, 2013
 
(in thousands, except per share amounts)
Basic Earnings per Share:
Net
Income
 
Shares
 
Per
Share
Amount
 
Net
Income
 
Shares
 
Per
Share
Amount
Net income
$
67,718

 
 
 
 
 
$
97,750

 
 
 
 
Less net income associated with participating securities
1,383

 
 
 
 
 
1,892

 
 
 
 
Basic earnings per share
$
66,335

 
45,285

 
$
1.46

 
$
95,858

 
45,581

 
$
2.10

Diluted Earnings per Share:
 
 
 
 
 
 
 
 
 
 
 
Net income
$
67,718

 
 
 
 
 
$
97,750

 
 
 
 
Less net income associated with participating securities
1,370

 
 
 
 
 
1,874

 
 
 
 
Effect of dilutive securities
 
 
450

 
 
 
 
 
455

 
 
Diluted earnings per share
$
66,348

 
45,735

 
$
1.45

 
$
95,876

 
46,036

 
$
2.08

For the nine months ended November 1, 2014, non-participating securities (stock options) representing 8,000 shares of common stock 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 that period. There were no such shares excluded from the computation of weighted average shares for diluted earnings per share for the quarter ended November 1, 2014.
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.