v3.8.0.1
Net Income Per Share
 3 Months Ended
May 05, 2018
Earnings Per Share [Abstract]  
Net Income Per Share
Net Income Per Share
The Company reports both basic net income per share, which is based on the weighted average number of common shares outstanding during the period, and diluted net income per share, which is based on the weighted average number of common shares outstanding and potentially dilutive shares outstanding during the period. The computations of basic and diluted net income per share are presented in the following table (in thousands, except per share amounts):
 
 
Three Months Ended
 
May 5,
2018
 
April 29,
2017
Numerator:
 
 
 
Income from continuing operations, net of tax
$
128,612

 
$
99,592

Income from discontinued operations, net of tax
—

 
7,029

Net income
$
128,612

 
$
106,621

Denominator:
 
 
 
Weighted average shares — basic
497,335

 
503,790

Effect of dilutive securities:
 
 
 
Share-based awards
11,381

 
13,802

Weighted average shares — diluted
508,716

 
517,592

Income from continuing operations per share:
 
 
 
       Basic
$
0.26

 
$
0.20

       Diluted
$
0.25

 
$
0.20

Income from discontinued operations per share:
 
 
 
       Basic
$
—

 
$
0.01

       Diluted
$
—

 
$
0.01

Net income per share:
 
 
 
       Basic
$
0.26

 
$
0.21

       Diluted
$
0.25

 
$
0.21


Potential dilutive securities include dilutive common shares from share-based awards attributable to the assumed exercise of stock options, restricted stock units and employee stock purchase plan shares using the treasury stock method. Under the treasury stock method, potential common shares outstanding are not included in the computation of diluted net income per share if their effect is anti-dilutive.
 
The amount of anti-dilutive potential shares from share-based awards was 5.2 million weighted average shares outstanding and 9.2 million weighted average shares outstanding for the three months ended May 5, 2018 and April 29, 2017, respectively.
 
Anti-dilutive potential shares from share-based awards are excluded from the calculation of diluted earnings per share for all periods reported above because either their exercise price exceeded the average market price during the period or the share-based awards were determined to be anti-dilutive based on applying the treasury stock method.