Net Income Per Share

12 Months Ended

Feb. 01, 2020

11. Net Income Per Share

Basic net income per share is calculated by dividing net income by the weighted-average number of common shares outstanding. Dilutive net income per share is calculated by dividing net income by the weighted-average number of common shares and potentially dilutive securities outstanding during the period using the treasury stock method.

	(in thousands, except per share data)
	Fiscal Year Ended
					February 3,
	February 1,		February 2,		2018
	2020		2019		(53 Weeks)
Basic net income per share
Net income	$	465,116	$	414,745	$	384,852
Weighted average number of common shares – basic		65,943		66,812		68,286
Net income per common share – basic	$	7.05	$	6.21	$	5.64
Diluted net income per share
Net income	$	465,116	$	414,745	$	384,852
Shares for basic and diluted net income per share:
Weighted average number of common shares – basic		65,943		66,812		68,286
Assumed exercise of stock options and vesting of restricted stock		1,350		1,867		2,002
Weighted average number of common shares – diluted		67,293		68,679		70,288
Net income per common share – diluted	$	6.91	$	6.04	$	5.48

Approximately 405,000 shares, 425,000 shares and less than 150,000 shares were excluded from diluted net income per share for Fiscal 2019, Fiscal 2018 and Fiscal 2017, respectively, since their effect was anti-dilutive.