Income per Share

6 Months Ended

Oct. 29, 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				Six Months Ended
	October 29, 2022		October 30, 2021		October 29, 2022		October 30, 2021
Numerator:
Net income (in millions)	$	27.6	$	27.5	$	49.1	$	56.6

Denominator:
Denominator for basic income per share - weighted average shares outstanding and vested/unissued restricted stock units		36,126,132		37,544,357		36,346,054		37,741,923
Dilutive potential common shares		715,699		538,899		682,762		528,684
Denominator for diluted income per share		36,841,831		38,083,256		37,028,816		38,270,607

Basic and diluted income per share:
Basic income per share	$	0.76	$	0.73	$	1.35	$	1.50
Diluted income per share	$	0.75	$	0.72	$	1.33	$	1.48

Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding		940,510		928,412		934,522		928,412