Ulta Beauty, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Net income per common share

Net income per common share

12 Months Ended

Jan. 30, 2016

11. Net income per common share

The following is a reconciliation of net income and the number of shares of common stock used in the computation of net income per basic and diluted share:


	Fiscal year ended
(In thousands, except per share data)	January 30, 2016		January 31, 2015		February 1, 2014
Numerator for diluted net income per share — net income	$	320,008	$	257,135	$	202,849
Denominator for basic net income per share — weighted-average common shares		63,949		64,335		63,992
Dilutive effect of stock options and non-vested stock		326		316		469

Denominator for diluted net income per share		64,275		64,651		64,461
Net income per common share:
Basic	$	5.00	$	4.00	$	3.17
Diluted	$	4.98	$	3.98	$	3.15

The denominator for diluted net income per common share for fiscal years 2015, 2014 and 2013 exclude 370, 686 and 658 employee options, respectively, due to their anti-dilutive effects. As of January 30, 2016, outstanding performance-based restricted stock units were excluded from the computation of diluted shares because the number of shares ultimately issued is contingent on the achievement of certain performance targets of the Company and the performance period is not yet complete.