Income Per Common Share

12 Months Ended

Jan. 30, 2021

Basic income per common share amounts are calculated using the weighted-average number of common shares outstanding for the period. Diluted income per common share amounts are calculated using the weighted-average number of common shares outstanding for the period and include the dilutive impact of exercise of stock options as well as assumed vesting of restricted stock awards and shares currently available for purchase under the Company's Employee Stock Purchase Plan, using the treasury stock method. Performance-based restricted stock units are considered contingently issuable shares for diluted income per common share purposes and the dilutive impact, if any, is not included in the weighted-average shares until the performance conditions are met. The dilutive impact, if any, for performance-based restricted stock units, which are subject to market conditions based on our total shareholder return relative to a pre-defined peer group, are included in the weighted average shares.

The following table reconciles net income and the weighted average common shares outstanding used in the computations of basic and diluted income per common share (in thousands, except for share and per share data):


	Fiscal Year
	2020		2019		2018
Numerator:
Net income	$	123,361	$	175,056	$	149,645






Denominator:
Weighted average common shares outstanding - basic	55,816,508		55,823,535		55,763,034
Dilutive impact of options, restricted stock units, and employee stock purchase plan	243,531		342,632		457,830
Weighted average common shares outstanding - diluted	56,060,039		56,166,167		56,220,864
Per common share:
Basic income per common share	$	2.21	$	3.14	$	2.68
Diluted income per common share	$	2.20	$	3.12	$	2.66

The effects of restricted stock units outstanding as of January 30, 2021, February 1, 2020 and February 2, 2019 for 20,425, 576 and 2,315 shares of common stock, respectively, were excluded from the fiscal 2020, fiscal 2019 and fiscal 2018 calculation of diluted income per common share as their impact would have been anti-dilutive.

The aforementioned excluded shares do not reflect the impact of any incremental repurchases under the treasury stock method.