Net (Loss) Earnings Per Share
The Company calculates basic net (loss) earnings per share (“EPS”) using net (loss) earnings and the weighted-average number of shares outstanding during the reporting period.
The reconciliations of the numerators and denominators of each of the basic and diluted net EPS calculations were as follows:
 For the fiscal years ended October 31,
 202520242023
 In millions, except per share amounts
Numerator:   
Net (loss) earnings attributable to common stockholders - Basic
$(59)$2,554 $2,025 
Plus: 7.625% Series C mandatory convertible preferred stock dividends
— 25 — 
Net (loss) earnings - Diluted
$(59)$2,579 $2,025 
Denominator:
Weighted-average shares used to compute basic net EPS1,324 1,309 1,299 
Dilutive effect of employee stock plans(1)
— 18 17 
Dilutive effect of 7.625% Series C mandatory convertible preferred stock(1)
— 10 — 
Weighted-average shares used to compute diluted net EPS1,324 1,337 1,316 
Net EPS:
Basic $(0.04)$1.95 $1.56 
Diluted $(0.04)$1.93 $1.54 
Anti-dilutive Share Count(1)(2):
Employee stock plans
62 — — 
7.625% Series C mandatory convertible preferred stock
76 — — 
Total anti-dilutive weighted-average stock
138 — — 
(1)The impact of dilutive effect of employee stock plans is calculated under the treasury stock method, and the impact of dilutive effect of the Preferred Stock is calculated under the if-converted method. The effect of employee stock plans and Preferred Stock is excluded when calculating diluted net loss per share as it would be anti-dilutive.
(2)The Company excludes shares potentially issuable under employee stock plans and Preferred Stock that could dilute basic net EPS in the future from the calculation of diluted net earnings per share, as their effect, if included, would have been anti-dilutive for the periods presented.

Historical Timeline

Fiscal YearFiled
2025Dec 18, 2025Showing above
2024Dec 19, 2024
2023Dec 22, 2023
2022Dec 8, 2022
2021Dec 10, 2021
2020Dec 10, 2020
2019Dec 13, 2019
2018Dec 12, 2018
2017Dec 15, 2017
2016Dec 15, 2016
2015Dec 17, 2015

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.