Annual report [Section 13 and 15(d), not S-K Item 405]

Earnings Per Share

Earnings Per Share

12 Months Ended

Jan. 31, 2026

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


	2025					2024					2023
	Net Income				Shares	Net Income				Shares	Net Income				Shares
	(millions, except per share data)
Net income and average number of shares outstanding	$	642			269.8	$	582			276.8	$	45			273.2
Shares to be issued under deferred compensation and other plans					0.8					0.9					1.0
	$	642			270.6	$	582			277.7	$	45			274.2
Basic earnings per share			$	2.37				$	2.10				$	0.16
Effect of dilutive securities:
Stock options and restricted stock units					5.9					3.9					4.0
	$	642			276.5	$	582			281.6	$	45			278.2
Diluted earnings per share			$	2.32				$	2.07				$	0.16

In addition to the stock options and restricted stock units in the foregoing table, stock options to purchase 5.7 million shares of common stock and restricted stock units relating to 0.2 million shares of common stock were outstanding at January 31, 2026, stock options to purchase 7.8 million shares of common stock and restricted stock units relating to 0.6 million shares of common stock were outstanding at February 1, 2025, and stock options to purchase 9.9 million of shares of common stock and restricted stock units relating to 1.6 million shares of common stock were outstanding at February 3, 2024, but were not included in the computation of diluted earnings per share for 2025, 2024, or 2023, respectively, because their inclusion would have been antidilutive or they were subject to performance conditions that had not been met.