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Earnings Per Common Share
 12 Months Ended
Feb. 01, 2025
Earnings Per Share [Abstract]  
Earnings Per Common Share Earnings per Common Share
The computations for basic and diluted earnings per common share were as follows for the fiscal years presented below (in thousands, except per share data):
 
202420232022
Numerator:
Net income for earnings per common share – basic
$1,165,308 $1,046,519 $1,043,138 
Effect of dilutive securities
Interest expense associated with Convertible Senior Notes, net of tax— 337 27,060 
Net income for earnings per common share – diluted
$1,165,308 $1,046,856 $1,070,198 
Denominator:
Weighted average common shares outstanding – basic
80,468 82,302 77,672 
Dilutive effect of stock-based awards2,461 2,977 5,235 
Dilutive effect of warrants— 254 5,575 
Dilutive effect of Convertible Senior Notes— 392 10,792 
Weighted average common shares outstanding – diluted
82,929 85,925 99,274 
Earnings per common share:
Basic$14.48 $12.72 $13.43 
Diluted$14.05 $12.18 $10.78 
Stock-based awards excluded from diluted shares18 186 140 
The dilutive effect of the Convertible Senior Notes included shares that were designed to be offset at settlement by shares delivered from the bond hedge purchased by the Company. The shares provided by the bond hedge were anti-dilutive; accordingly, they were not treated as a reduction to diluted weighted average shares outstanding until received at settlement. In addition, the dilutive effect of the Convertible Senior Notes included shares related to the outstanding principal amount of the Convertible Senior Notes. Although the Company was required to assume that the Convertible Senior Notes would be settled in shares of its common stock in accordance with the “if-converted method” under U.S. GAAP, the Company settled the Convertible Senior Notes without dilutive effect, due to cash payments for principal, shares received from the convertible bond hedge and share repurchases to offset the share settlement of the remaining $59.1 million of principal during fiscal 2023. Refer to Note 10 – Convertible Senior Notes for further information.