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EARNINGS PER SHARE
 3 Months Ended
May 03, 2015
EARNINGS PER SHARE

NOTE C. EARNINGS PER SHARE

Basic earnings per share is computed as net earnings divided by the weighted average number of common shares outstanding for the period. Diluted earnings per share is computed as net earnings divided by the weighted average number of common shares outstanding and common stock equivalents for the period. Common stock equivalents consist of shares subject to stock-based awards with exercise prices less than or equal to the average market price of our common stock for the period, to the extent their inclusion would be dilutive.

The following is a reconciliation of net earnings and the number of shares used in the basic and diluted earnings per share computations:

 

In thousands, except per share amounts Net Earnings   Weighted
Average Shares		   Earnings
Per Share		  

Thirteen weeks ended May 3, 2015

Basic

 $ 44,790      91,707    $ 0.49   

Effect of dilutive stock-based awards

         1,593         

Diluted

 $ 44,790      93,300    $ 0.48   

Thirteen weeks ended May 4, 2014

Basic

 $ 46,162      93,993    $ 0.49   

Effect of dilutive stock-based awards

         1,625         

Diluted

 $ 46,162      95,618    $ 0.48   

There were no stock-based awards excluded from the computation of diluted earnings per share for the thirteen weeks ended May 3, 2015. Anti-dilutive stock-based awards outstanding were 160,000 as of May 4, 2014, and were excluded from the computation of diluted earnings per share.