| Net Income Per Share The following table sets forth the calculations of basic and diluted net income per share:
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13 Weeks Ended |
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26 Weeks Ended |
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August 1, |
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August 3, |
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August 1, |
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August 3, |
(in millions, except per share data) |
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2020 |
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2019 |
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2020 |
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2019 |
Basic net income per share: |
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Net income |
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$ |
261.5 |
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$ |
180.3 |
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$ |
509.1 |
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$ |
448.2 |
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Weighted average number of shares outstanding |
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237.3 |
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237.6 |
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237.1 |
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237.8 |
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Basic net income per share |
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$ |
1.10 |
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$ |
0.76 |
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$ |
2.15 |
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$ |
1.88 |
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Diluted net income per share: |
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Net income |
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$ |
261.5 |
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$ |
180.3 |
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$ |
509.1 |
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$ |
448.2 |
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Weighted average number of shares outstanding |
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237.3 |
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237.6 |
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237.1 |
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237.8 |
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Dilutive effect of stock options and restricted stock (as
determined by applying the treasury stock method) |
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0.8 |
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0.7 |
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0.7 |
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0.9 |
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Weighted average number of shares and dilutive potential
shares outstanding |
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238.1 |
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238.3 |
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237.8 |
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238.7 |
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Diluted net income per share |
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$ |
1.10 |
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$ |
0.76 |
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$ |
2.14 |
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$ |
1.88 |
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For the 13 and 26 weeks ended August 1, 2020 and August 3, 2019, substantially all of the stock options outstanding were included in the calculation of the weighted average number of shares and dilutive potential shares outstanding.
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