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Earnings per Share | 9 Months Ended
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Jan. 27, 2024
Earnings Per Share [Abstract] |
Earnings per Share | Earnings per Share The following is a reconciliation of the numerators and denominators we used in our computations of basic and diluted earnings per share:
|  | Quarter Ended |  | Nine Months Ended
(Unaudited, amounts in thousands, except per share data) |  | 1/27/2024 |  | 1/28/2023 |  | 1/27/2024 |  | 1/28/2023
Numerator (basic and diluted): |  |  |  |  |  |  |  |
Net income available to common Shareholders |  | $ | 28,640 |  |  | $ | 31,726 |  |  | $ | 83,318 |  |  | $ | 116,291 |
Denominator: |  |  |  |  |  |  |  |
Basic weighted average common shares outstanding |  | 42,767 |  |  | 43,137 |  |  | 43,005 |  |  | 43,111 |
Contingent common shares |  | 256 |  |  | — |  |  | 238 |  |  | — |
Stock option dilution |  | 172 |  |  | — |  |  | 101 |  |  | — |
Diluted weighted average common shares outstanding |  | 43,195 |  |  | 43,137 |  |  | 43,344 |  |  | 43,111 |
Earnings per Share: |  |  |  |  |  |  |  |
Basic |  | $ | 0.67 |  |  | $ | 0.74 |  |  | $ | 1.94 |  |  | $ | 2.70 |
Diluted (1) |  | $ | 0.66 |  |  | $ | 0.74 |  |  | $ | 1.92 |  |  | $ | 2.70 |
(1)Diluted earnings per share was computed using the treasury stock method. The values for contingent common shares set forth above reflect the dilutive effect of common shares that we would have issued to employees under the terms of performance-based share awards if the relevant performance period for the award had been the reporting period. We exclude the effect of options from our diluted share calculation when the weighted average exercise price of the options is higher than the average market price, since including the options' effect would be anti-dilutive. For the third quarter and nine months ended January 27, 2024, we excluded options to purchase 0.2 million shares and 0.5 million shares, respectively, from the diluted share calculation. For the third quarter and nine months ended January 28, 2023, we excluded options to purchase 1.5 million shares from the diluted share calculation.

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