EARNINGS PER SHARE

9 Months Ended

Nov. 01, 2020

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 outstanding 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 November 1, 2020
Basic	$	201,772		77,487	$	2.60
Effect of dilutive stock-based awards				1,845
Diluted	$	201,772		79,332	$	2.54
Thirteen weeks ended November 3, 2019
Basic	$	74,713		77,897	$	0.96
Effect of dilutive stock-based awards				1,294
Diluted	$	74,713		79,191	$	0.94
Thirty-nine weeks ended November 1, 2020
Basic	$	371,759		77,511	$	4.80
Effect of dilutive stock-based awards				1,501
Diluted	$	371,759		79,012	$	4.71
Thirty-nine weeks ended November 3, 2019
Basic	$	190,017		78,356	$	2.43
Effect of dilutive stock-based awards				1,109
Diluted	$	190,017		79,465	$	2.39

Stock-based awards of 229 and 19,295 were excluded from the computation of diluted earnings per share for the thirteen and thirty-nine weeks ended November 1, 2020, respectively, as their inclusion would be anti-dilutive. Stock-based awards of 2,000 and 28,000 were excluded from the computation of diluted earnings per share for the thirteen and thirty-nine weeks ended November 3, 2019, respectively, as their inclusion would be anti-dilutive.