Income per Share

6 Months Ended

Oct. 30, 2021

Note 10. Income per Share

Basic income per share is calculated by dividing net income by the weighted average number of common shares outstanding for the applicable period but excludes any contingently issued shares where the contingency has not been resolved. The weighted average number of common shares used in the diluted income per share calculation is determined using the treasury stock method which includes the effect of all potential dilutive common shares outstanding during the period.

The following table sets forth the computation of basic and diluted income per share:

	Three Months Ended				Six Months Ended
	October 30, 2021		October 31, 2020		October 30, 2021		October 31, 2020
Numerator:
Net income (in millions)	$	27.5	$	38.6	$	56.6	$	59.3

Denominator:
Denominator for basic income per share - weighted average shares outstanding and vested/unissued restricted stock units		37,544,357		38,106,793		37,741,923		37,971,668
Dilutive potential common shares		538,899		20,745		528,684		171,310
Denominator for diluted income per share		38,083,256		38,127,538		38,270,607		38,142,978

Basic and diluted income per share:
Basic income per share	$	0.73	$	1.01	$	1.50	$	1.56
Diluted income per share	$	0.72	$	1.01	$	1.48	$	1.56

Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding		928,412		1,017,000		928,412		559,334