Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.8.0.1
Earnings Per Share
9 Months Ended
Oct. 28, 2017
Earnings Per Share  
Earnings Per Share

4.  Earnings Per Share    

 

Basic earnings per common share allocated to common shareholders is computed by dividing net earnings by the weighted-average common shares outstanding during the period.  Diluted earnings per common share reflect the more dilutive earnings per common share amount calculated using the treasury stock method or the two-class method.  For the three and nine months ended October 28, 2017, the treasury stock method is used to calculate diluted earnings per common share while the two-class method was used for the three and nine months ended October 29, 2016.

 

Basic and diluted earnings per common share allocated to common shareholders are computed using the actual net earnings allocated to common shareholders and the actual weighted-average common shares outstanding rather than the rounded numbers presented within our condensed consolidated statement of earnings and the accompanying notes.  As a result, it may not be possible to recalculate earnings per common share allocated to common shareholders in our condensed consolidated statement of earnings and the accompanying notes. The following table sets forth the computation of basic and diluted earnings per common share allocated to common shareholders (in thousands, except per share amounts):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Three Months Ended

 

For the Nine Months Ended

 

 

 

October 28,

 

October 29,

 

October 28,

 

October 29,

 

 

    

2017

    

2016

    

2017

    

2016

 

Numerator

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings

 

$

36,892

 

$

28,433

 

$

97,202

 

$

55,045

 

Net earnings allocated to participating securities (restricted stock and deferred stock units)

 

 

 —

 

 

(33)

 

 

 —

 

 

(65)

 

Net earnings allocated to common shareholders

 

$

36,892

 

$

28,400

 

$

97,202

 

$

54,980

 

Denominator

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted-average common shares outstanding

 

 

49,206

 

 

48,655

 

 

49,040

 

 

48,570

 

Dilutive effect of share-based awards

 

 

224

 

 

157

 

 

211

 

 

121

 

Diluted weighted-average common shares outstanding

 

 

49,430

 

 

48,812

 

 

49,251

 

 

48,691

 

Net earnings per common share allocated to common shareholders:

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.75

 

$

0.58

 

$

1.98

 

$

1.13

 

Diluted

 

$

0.75

 

$

0.58

 

$

1.97

 

$

1.13

 

 

For the three and nine months ended October 28, 2017,  2.2 million and 2.1 million anti-dilutive shares of common stock were excluded from the calculation of diluted earnings per common share, respectively.  For the three and nine months ended October 29, 2016, 1.9 million and 1.7 million anti-dilutive shares of common stock were excluded from the calculation of diluted earnings per common share, respectively.