Earnings (Loss) Per Share and Shareholders' Equity (Tables)

9 Months Ended

Oct. 28, 2023

Oct. 29, 2022

Earnings Per Share [Abstract]

Shares Utilized for the Calculation of Basic and Diluted Earnings Per Share

The following table provides the weighted-average shares utilized for the calculation of basic and diluted earnings (loss) per share for the third quarter and year-to-date 2023 and 2022:

	Third Quarter		Year-to-Date
	2023	2022	2023	2022
	(in millions)
Common Shares	77	81	78	83
Treasury Shares	—	—	—	—
Basic Shares	77	81	78	83
Effect of Dilutive Awards (a)(b)	—	2	—	2
Diluted Shares	77	83	78	85
Anti-dilutive Awards (a)	5	2	5	1

 _______________

(a)Shares underlying certain restricted stock units, performance share units and options were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive.

(b)For the third quarter and year-to-date 2023, shares underlying outstanding restricted stock units, performance share units and options were excluded from dilutive shares as a result of the Company's net loss for the periods.

Schedule of Repurchase of Common Stock

The Company repurchased the following shares of its common stock under the January 2023 Share Repurchase Program during year-to-date 2023:

	Amount Authorized		Shares Repurchased	Amount Repurchased		Average Stock Price
	(in millions)		(in thousands)	(in millions)
January 2023 Share Repurchase Program	$	250	3,652	$	125	$	34.22

The Company repurchased the following shares of its common stock under the March 2022 Share Repurchase Program during year-to-date 2022:

	Amount Authorized		Shares Repurchased	Amount Repurchased		Average Stock Price
	(in millions)		(in thousands)	(in millions)
March 2022 Share Repurchase Program	$	250	5,104	$	214	$	41.91