Income per Share

3 Months Ended

Jul. 30, 2022

Note 9. 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
	July 30, 2022		July 31, 2021
Numerator:
Net income (in millions)	$	21.5	$	29.1

Denominator:
Denominator for basic income per share - weighted average shares outstanding and vested/unissued restricted stock units		36,565,975		37,939,488
Dilutive potential common shares		649,825		518,470
Denominator for diluted income per share		37,215,800		38,457,958

Basic and diluted income per share:
Basic income per share	$	0.59	$	0.77
Diluted income per share	$	0.58	$	0.76

Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding		928,534		928,412