EARNINGS PER SHARE

9 Months Ended

Oct. 31, 2021

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 October 31, 2021
Basic	$	249,524	74,010	$	3.37
Effect of dilutive stock-based awards			1,933
Diluted	$	249,524	75,943	$	3.29
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
Thirty-nine weeks ended October 31, 2021
Basic	$	723,396	74,865	$	9.66
Effect of dilutive stock-based awards			2,110
Diluted	$	723,396	76,975	$	9.40
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

Stock-based awards of 500 and 4,300 were excluded from the computation of diluted earnings per share for the thirteen and thirty-nine weeks ended October 31, 2021, respectively, as their inclusion would be anti-dilutive. Stock-based awards of 200 and 19,300 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.