Earnings Per Share

12 Months Ended

Jan. 31, 2021

Note F: 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
Fiscal 2020 (52 Weeks)
Basic	$	680,714		77,260	$	8.81
Effect of dilutive stock-based awards				1,795
Diluted	$	680,714		79,055	$	8.61
Fiscal 2019 (52 Weeks)
Basic	$	356,062		78,108	$	4.56
Effect of dilutive stock-based awards				1,117
Diluted	$	356,062		79,225	$	4.49
Fiscal 2018 (53 Weeks)
Basic	$	333,684		81,420	$	4.10
Effect of dilutive stock-based awards				920
Diluted	$	333,684		82,340	$	4.05

Stock-based awards of 9,000, 46,000, and 31,000 were excluded from the computation of diluted earnings per share in fiscal 2020, fiscal 2019 and fiscal 2018, respectively, as their inclusion would be anti-dilutive.