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Earnings per Share ("EPS")
 9 Months Ended
Nov. 02, 2024
Earnings Per Share [Abstract]  
Earnings per Share ("EPS")

5. Earnings per Share ("EPS")

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

 

 

 

13 Weeks Ended

 

 

39 Weeks Ended

 

(In thousands)

 

November 2, 2024

 

 

October 28, 2023

 

 

November 2, 2024

 

 

October 28, 2023

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income and numerator for basic EPS

 

$

80,019

 

 

$

96,700

 

 

$

225,034

 

 

$

163,722

 

Add: Interest expense, net of tax, related to the 2025 Notes (1)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

58

 

Numerator for diluted EPS

 

$

80,019

 

 

$

96,700

 

 

$

225,034

 

 

$

163,780

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Denominator for basic EPS - weighted average shares

 

 

191,630

 

 

 

195,343

 

 

 

193,908

 

 

 

195,467

 

Add: Dilutive effect of the 2025 Notes (1)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

278

 

Add: Dilutive effect of stock options and non-vested restricted stock

 

 

4,152

 

 

 

3,024

 

 

 

4,293

 

 

 

2,224

 

Denominator for diluted EPS - adjusted weighted average shares

 

 

195,782

 

 

 

198,367

 

 

 

198,201

 

 

 

197,969

 

Anti-dilutive shares (2)

 

 

414

 

 

 

1,816

 

 

 

396

 

 

 

1,861

 

 

(1) The Company utilizes the "if-converted" method of calculating diluted EPS, in accordance with ASU 2020-06, Debt with Conversion and Other Options.

 

(2) For all periods presented, anti-dilutive shares relate to stock options and unvested restricted stock.

Refer to Notes 8, Long-Term Debt, Net, and 9, Share-Based Compensation, to the Consolidated Financial Statements for additional information regarding the 2025 Notes (as defined in Note 8) and share-based compensation, respectively.