Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v3.19.3
EARNINGS PER SHARE
9 Months Ended
Nov. 02, 2019
EARNINGS PER SHARE  
EARNINGS PER SHARE

8. EARNINGS PER SHARE

The Company’s unvested restricted stock awards contain non-forfeitable rights to dividends and meet the criteria of a participating security as defined by ASC 260, “Earnings Per Share”. In applying the two-class method, net income is allocated to both common and participating securities based on their respective weighted-average shares outstanding for the period. Basic earnings per share is computed by dividing net income allocated to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share is computed by dividing income available to common shareholders by the weighted-average common shares outstanding plus the potential dilutive impact from stock options and restricted stock units. Common equivalent shares are excluded from the computation if their effect is anti-dilutive. There were 10.1 million and 8.4 million anti-dilutive shares during the third quarters of fiscal 2019 and fiscal 2018, respectively. There were 10.6 million and 7.1 million anti-dilutive shares during the nine months ended November 2, 2019 and November 3, 2018, respectively.

The following table sets forth the computation of basic and diluted earnings per common share (in thousands, except per share data):

13 Weeks Ended

39 Weeks Ended

November 2,

November 3,

November 2,

November 3,

2019

2018

2019

2018

Basic earnings per common share:

Net income

$

28,705

$

83,769

$

90,943

  

$

138,142

Less income related to unvested restricted shares

 

(40)

 

(138)

 

(108)

 

(285)

Income available to common shareholders - Basic

$

28,665

$

83,631

$

90,835

$

137,857

Weighted-average common shares outstanding - Basic

150,877

165,975

155,299

174,949

Basic earnings per common share

$

0.19

$

0.50

$

0.58

$

0.79

Diluted earnings per common share:

 

 

Net income

$

28,705

$

83,769

$

90,943

$

138,142

Less income related to unvested restricted shares

 

(40)

(138)

 

(108)

(284)

Income available to common shareholders - Diluted

$

28,665

$

83,631

$

90,835

$

137,858

Weighted-average common shares outstanding - Basic

150,877

165,975

155,299

174,949

Effect of dilutive stock options and restricted stock units

48

595

43

902

Weighted-average common shares outstanding - Diluted

150,925

166,570

155,342

175,851

Diluted earnings per common share

$

0.19

$

0.50

$

0.58

$

0.78