EARNINGS PER SHARE

6 Months Ended

Jul. 31, 2016

NOTE D. 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 July 31, 2016
Basic	$	51,785		89,039	$	0.58
Effect of dilutive stock-based awards				697
Diluted	$	51,785		89,736	$	0.58
Thirteen weeks ended August 2, 2015
Basic	$	53,668		91,243	$	0.59
Effect of dilutive stock-based awards				1,321
Diluted	$	53,668		92,564	$	0.58
Twenty-six weeks ended July 31, 2016
Basic	$	91,382		89,169	$	1.02
Effect of dilutive stock-based awards				929
Diluted	$	91,382		90,098	$	1.01
Twenty-six weeks ended August 2, 2015
Basic	$	98,458		91,475	$	1.08
Effect of dilutive stock-based awards				1,494
Diluted	$	98,458		92,969	$	1.06

Stock-based awards of 909,000 and 627,000 were excluded from the computation of diluted earnings per share for the thirteen and twenty-six weeks ended July 31, 2016, as their inclusion would be anti-dilutive. There were no stock-based awards excluded from the computation of diluted earnings per share for the thirteen or twenty-six weeks ended August 2, 2015.