Basic net income per share is calculated by dividing net income by the weighted-average number of common shares outstanding. Diluted net income per share is calculated by dividing net income by the weighted-average number of common shares and potentially dilutive securities outstanding during the period using the treasury stock method for the Company’s stock option and restricted stock unit awards, and the if-converted method for the Convertible Notes. The following table presents the computation of basic and diluted net income per share:


	(in thousands, except per share data)
	Three Months Ended
	May 2,		May 3,
	2026		2025
Basic net income per share
Net income	$	114,744	$	100,833
Weighted average number of common shares – basic		62,760		63,088
Net income per common share – basic	$	1.83	$	1.60
Diluted net income per share
Net income	$	114,744	$	100,833
Shares for basic and diluted net income per share:
Weighted average number of common shares – basic		62,760		63,088
Assumed exercise of stock options and vesting of restricted stock		988		660
Assumed conversion of convertible debt		396		257
Weighted average number of common shares – diluted		64,144		64,005
Net income per common share – diluted	$	1.79	$	1.58

Approximately 103,000 shares of the Company’s stock-based compensation grants were excluded from diluted net income per share for the three month period ended May 2, 2026, since their effect was anti-dilutive.

Approximately 208,000 shares related to the Company’s stock-based compensation grants were excluded from diluted net income per share for the three month period ended May 3, 2025, since their effect was anti-dilutive.