Basic earnings per common share is calculated based on net income divided by the basic weighted average common shares outstanding during the period, and diluted earnings per common share is calculated based on net income divided by the diluted weighted average common shares outstanding. Diluted weighted average common shares outstanding is based on the basic weighted average common shares outstanding plus any potential dilutive effect of stock-based awards outstanding during the period using the treasury stock method, which assumes the potential proceeds received from the dilutive stock options are used to purchase treasury stock. Anti-dilutive stock-based awards do not include awards which have a performance or liquidity event target which has yet to be achieved.

Basic and diluted weighted average common shares outstanding and basic and diluted earnings per common share are calculated as follows (amounts in thousands, except per share amounts):


	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	August 1, 2026		August 2, 2025		August 1, 2026		August 2, 2025
Net income	$	137,897	$	125,434	$	190,600	$	171,518

Weighted average common shares outstanding - basic	62,292		66,539		63,362		66,831
Dilutive effect of Service Restricted Units and Service Restricted Stock Units	196		63		406		167
Dilutive effect of Performance Restricted Stock Units	—		28		—		29
Dilutive effect of Service Options	925		922		1,002		898
Dilutive effect of Performance Unit Options	80		77		82		77
Dilutive effect of ESPP Shares	58		60		40		41
Weighted average common shares outstanding - diluted	63,551		67,689		64,892		68,043

Earnings per common share - basic	$	2.21	$	1.89	$	3.01	$	2.57
Earnings per common share - diluted	$	2.17	$	1.85	$	2.94	$	2.52

Anti-dilutive stock-based awards excluded from diluted calculation	208		210		122		214