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Income Per Share
 12 Months Ended
Apr. 30, 2022
Earnings Per Share [Abstract]  
Income Per Share

Note 14. Income Per Share

Basic income per share is calculated by dividing net income by the number of weighted average common shares outstanding for the applicable period. 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:

 

 

Fiscal Year Ended

 

 

 

April 30, 2022

 

 

May 1, 2021

 

 

May 2, 2020

 

 

 

(52 Weeks)

 

 

(52 Weeks)

 

 

(53 Weeks)

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income (in millions)

 

$

102.2

 

 

$

122.3

 

 

$

123.4

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

Denominator for basic income per share - weighted average shares outstanding and vested/unissued RSUs

 

 

37,234,086

 

 

 

38,038,615

 

 

 

37,574,671

 

Dilutive potential common shares - stock options, RSAs and RSUs

 

 

583,360

 

 

 

267,671

 

 

 

269,799

 

Denominator for diluted income per share

 

 

37,817,446

 

 

 

38,306,286

 

 

 

37,844,470

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted income per share:

 

 

 

 

 

 

 

 

 

Basic income per share

 

$

2.74

 

 

$

3.22

 

 

$

3.28

 

Diluted income per share

 

$

2.70

 

 

$

3.19

 

 

$

3.26

 

 

 

 

 

 

 

 

 

 

 

Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding

 

 

928,412

 

 

 

738,167

 

 

 

566,620