Earnings per Share (Tables)

12 Months Ended

Jan. 28, 2023

Reconciliation Between Basic and Diluted Weighted Average Shares Outstanding

The following is a reconciliation between basic and diluted weighted average shares outstanding:


	For the Years Ended
	January 28,		January 29,		January 30,
(In thousands)	2023		2022		2021
Numerator:
Net income (loss) and numerator for basic EPS	$	125,136	$	419,629	$	(209,274	)
Add: Interest expense, net of tax, related to the 2025 Notes (1)		5,474		—		—
Numerator for diluted EPS	$	130,610	$	419,629	$	(209,274	)

Denominator:
Denominator for basic EPS - weighted average shares		181,778		168,156		166,455
Add: Dilutive effect of the 2025 Notes (1)		21,507		34,003		—
Add: Dilutive effect of stock options and non-vested restricted stock		1,941		4,370		—
Denominator for diluted EPS - adjusted weighted average shares		205,226		206,529		166,455
Anti-dilutive shares (2)		2,182		202		14,259

(1)

In Fiscal 2022, the Company adopted ASU 2020-06 under the modified retrospective method, which requires the Company to utilize the "if-converted" method of calculated diluted EPS. Accordingly, we did not restate financial information for prior periods. Refer to Note 2 to the Consolidated Financial Statements for additional information regarding the impact of the adoption of ASU 2020-06.

(2)

In Fiscal 2020, there were 1.9 million potentially dilutive equity awards and 12.4 million potentially dilutive shares from the 2025 Notes that were excluded from the diluted earnings per share calculation because the Company incurred a net loss for this period and their inclusion would be anti-dilutive. For all other periods presented, anti-dilutive shares relate to stock options and unvested restricted stock.