(Loss) Per Share
The following table sets forth the calculations of basic and diluted earnings (loss) per share:
 Year Ended
(in millions, except per share data)January 31, 2026February 1, 2025February 3, 2024
Numerator:
Income from continuing operations$1,225.3 $1,042.5 $1,265.8 
Income (loss) from discontinued operations, net of tax57.2 (4,072.6)(2,264.2)
Net income (loss)$1,282.5 $(3,030.1)$(998.4)
Denominator:
Weighted average number of shares outstanding205.8215.7219.5
Dilutive impact of share-based awards (as determined by applying the
   treasury stock method)
0.50.20.4
Weighted average number of shares and dilutive potential shares
   outstanding
206.3215.9219.9
Basic earnings (loss) per share of common stock:
Continuing operations$5.95 $4.83 $5.77 
Discontinued operations0.28 (18.88)(10.32)
Total basic earnings (loss) per share of common stock$6.23 $(14.05)$(4.55)
Diluted earnings (loss) per share of common stock:
Continuing operations$5.94 $4.83 $5.76 
Discontinued operations0.28 (18.86)(10.30)
Total diluted earnings (loss) per share of common stock$6.22 $(14.03)$(4.54)
For the years ended January 31, 2026, February 1, 2025 and February 3, 2024, share-based awards of 2.0 million shares, 3.1 million shares and 2.4 million shares, respectively, were excluded from the calculation of diluted earnings per share because their inclusion would be anti-dilutive.

Historical Timeline

Fiscal YearFiled
2026Mar 16, 2026Showing above
2025Mar 26, 2025
2024Mar 20, 2024

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.