Earnings per Share

3 Months Ended

Apr. 30, 2023

Basic and diluted earnings per share attributable to common stockholders are presented using the two-class method required for participating securities. Under the two-class method, net income attributable to common stockholders is determined by allocating undistributed earnings between common stock and participating securities. Undistributed earnings for the periods presented are calculated as net income less distributed earnings. Undistributed earnings are allocated proportionally to common Class A and Class B stockholders as both classes are entitled to share equally, on a per share basis, in dividends and other distributions. Basic and diluted earnings per share are calculated by dividing net income attributable to common stockholders by the weighted-average shares outstanding during the period.

The following table sets forth basic and diluted earnings per share attributable to common stockholders for the periods presented (in thousands, except per share data):



	13 Weeks Ended
Basic and diluted earnings per share	April 30, 2023		May 1, 2022
Numerator
Earnings attributable to common Class A and Class B stockholders	$	22,181	$	18,472
Denominator
Weighted-average common shares used in computing earnings per share:
Basic	426,852		420,406
Effect of dilutive stock-based awards	3,619		6,304
Diluted	430,471		426,710
Anti-dilutive stock-based awards excluded from diluted common shares	5,176		3,110
Earnings per share attributable to common Class A and Class B stockholders:
Basic	$	0.05	$	0.04
Diluted	$	0.05	$	0.04