Annual report pursuant to Section 13 and 15(d)

Earnings Per Share

Earnings Per Share

12 Months Ended

Jan. 28, 2012

Earnings Per Share

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



	2011					2010					2009
	Net Income				Shares	Net Income				Shares	Net Income				Shares
	(millions, except per share data)
Net income and average number of shares outstanding	$	1,256			423.5	$	847			422.2	$	329			420.4
Shares to be issued under deferred compensation plans					1.0					1.1					1.3
	$	1,256			424.5	$	847			423.3	$	329			421.7
Basic earnings per share			$	2.96				$	2.00				$	0.78
Effect of dilutive securities –
Stock options, restricted stock and restricted stock units					5.9					4.0					1.5
	$	1,256			430.4	$	847			427.3	$	329			423.2
Diluted earnings per share			$	2.92				$	1.98				$	0.78

In addition to the stock options, restricted stock and restricted stock units reflected in the foregoing table, stock options to purchase 9.3 million shares of common stock and restricted stock units relating to 2.1 million shares of common stock were outstanding at January 28, 2012, stock options to purchase 24.8 million shares of common stock and restricted stock units relating to 1.0 million shares of common stock were outstanding at January 29, 2011, and stock options to purchase 28.9 million of shares of common stock, 75,000 shares of restricted stock and restricted stock units relating to 2.9 million shares of common stock were outstanding at January 30, 2010, but were not included in the computation of diluted earnings per share for 2011, 2010 and 2009, respectively, because their inclusion would have been antidilutive or these shares were subject to performance conditions that had not been met.

- Definition

The entire disclosure for earnings per share.

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