Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

Earnings Per Share

3 Months Ended

Apr. 30, 2022

2.	Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share:

	13 Weeks Ended
	April 30, 2022						May 1, 2021
	Net Income				Shares		Net Income				Shares
	(millions, except per share data)
Net income and average number of shares outstanding	$	286				282.6	$	103				310.7
Shares to be issued under deferred compensation and other plans						1.0					0.9
	$	286				283.6	$	103				311.6
Basic earnings per share			$	1.01					$	0.33
Effect of dilutive securities:
Stock options and restricted stock units						7.3						7.0
	$	286				290.9	$	103				318.6
Diluted earnings per share			$	0.98					$	0.32

In addition to the stock options and restricted stock units reflected in the foregoing table, stock options to purchase 12.3 and 14.7 million shares of common stock and restricted stock units relating to 0.4 and 1.1 million shares of common stock were outstanding at April 30, 2022 and May 1, 2021, respectively, 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.