Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.23.2
Earnings Per Share
 6 Months Ended
Jul. 29, 2023
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
The following tables set forth the computation of basic and diluted earnings (loss) per share:
13 Weeks Ended
July 29, 2023 July 30, 2022
Net Loss Shares Net Income Shares
(millions, except per share data)
Net income (loss) and average number of
shares outstanding
 $ (22) 272.8  $ 275  270.1 
Shares to be issued under deferred
compensation and other plans
 1.0  1.0 
$ (22) 273.8  $ 275  271.1 
Basic earnings (loss) per share $ (0.08) $ 1.01 
Effect of dilutive securities:
Stock options and restricted
stock units
 —  6.3 
$ (22) 273.8  $ 275  277.4 
Diluted earnings (loss) per share $ (0.08) $ 0.99 
26 Weeks Ended
July 29, 2023 July 30, 2022
Net Income Shares Net Income Shares
(millions, except per share data)
Net income and average number of
shares outstanding
 $ 133  272.5  $ 561  276.3 
Shares to be issued under deferred
compensation and other plans
 1.0  1.0 
$ 133  273.5  $ 561  277.3 
Basic earnings per share $ 0.49  $ 2.02 
Effect of dilutive securities:
Stock options and restricted
stock units
 4.3  6.8 
$ 133  277.8  $ 561  284.1 
Diluted earnings per share $ 0.48  $ 1.97 
In addition to the stock options and restricted stock units reflected in the foregoing table, stock options to purchase 9.9 million shares of common stock and restricted stock units relating to 1.7 million shares of common stock were outstanding as of July 29, 2023 but were not included in the computation of diluted earnings per share for the 26 weeks ended July 29, 2023 because their inclusion would have been antidilutive or they were subject to performance conditions that had not been met. Stock options to purchase 12.2 million shares of common stock and restricted stock units relating to 2.3 million shares of common stock were outstanding as of July 30, 2022 but were not included in the computation of diluted earnings per share for the 13 and 26 weeks ended July 30, 2022 because their inclusion would have been antidilutive or they were subject to performance conditions that had not been met.For the 13 weeks ended July 29, 2023, as a result of the net loss, stock options to purchase 9.9 million shares of common stock and restricted stock units relating to 10.0 million shares of common stock were excluded from the calculation of diluted earnings per share and, therefore, there was no difference in the weighted average number of common shares for basic and diluted loss per share as the effect of all potentially dilutive shares outstanding was anti-dilutive.