EARNINGS PER SHARE

3 Months Ended

Apr. 30, 2017

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 April 30, 2017
Basic	$	39,555		86,962	$	0.45
Effect of dilutive stock-based awards				748
Diluted	$	39,555		87,710	$	0.45
Thirteen weeks ended May 1, 2016
Basic	$	39,597		89,298	$	0.44
Effect of dilutive stock-based awards				1,216
Diluted	$	39,597		90,514	$	0.44

Stock-based awards of 215,595 and 203,000 were excluded from the computation of diluted earnings per share for the thirteen weeks ended April 30, 2017 and May 1, 2016, respectively, as their inclusion would be anti-dilutive.