Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

Earnings Per Share

6 Months Ended

Jul. 29, 2017

Earnings Per Share Attributable to Macy's, Inc. Shareholders

The following tables set forth the computation of basic and diluted earnings per share attributable to Macy's, Inc. shareholders:



	13 Weeks Ended
	July 29, 2017					July 30, 2016
	Net Income				Shares	Net Income				Shares
	(millions, except per share data)
Net income attributable to Macy's, Inc. shareholders and average number of shares outstanding	$	116			304.5	$	11			308.5
Shares to be issued under deferred compensation and other plans					1.0					0.9
	$	116			305.5	$	11			309.4
Basic earnings per share attributable to Macy's, Inc. shareholders			$	.38				$	.03
Effect of dilutive securities:
Stock options, restricted stock and restricted stock units					1.0					1.9
	$	116			306.5	$	11			311.3
Diluted earnings per share attributable to Macy's, Inc. shareholders			$	.38				$	.03



	26 Weeks Ended
	July 29, 2017					July 30, 2016
	Net Income				Shares	Net Income				Shares
	(millions, except per share data)
Net income attributable to Macy's, Inc. shareholders and average number of shares outstanding	$	187			304.4	$	127			309.1
Shares to be issued under deferred compensation and other plans					0.8					0.9
	$	187			305.2	$	127			310.0
Basic earnings per share attributable to Macy's, Inc. shareholders			$	.61				$	.41
Effect of dilutive securities:
Stock options, restricted stock and restricted stock units					1.5					2.4
	$	187			306.7	$	127			312.4
Diluted earnings per share attributable to Macy's, Inc. shareholders			$	.61				$	.41

For the 13 and 26 weeks ended July 29, 2017, in addition to the stock options, restricted stock and restricted stock units reflected in the foregoing tables, stock options to purchase 16.7 million shares of common stock and restricted stock units relating to 1.1 million shares of common stock were outstanding at July 29, 2017, but were not included in the computation of diluted earnings per share because their inclusion would have been antidilutive or they were subject to performance conditions that had not been met.

For the 13 and 26 weeks ended July 30, 2016, in addition to the stock options, restricted stock and restricted stock units reflected in the foregoing tables, stock options to purchase 15.7 million shares of common stock and restricted stock units relating to 1.1 million shares of common stock were outstanding at July 30, 2016, but were not included in the computation of diluted earnings per share because their inclusion would have been antidilutive or they were subject to performance conditions that had not been met.