Non-controlling Interests

6 Months Ended

Jul. 31, 2022

Noncontrolling Interest [Abstract]

Non-controlling Interests

NON-CONTROLLING INTERESTS

Core & Main is the general partner of Holdings and operates and controls all of the business and affairs of Holdings and, through Holdings and its subsidiaries, conducts the Company's business. Accordingly, Core & Main consolidates the consolidated financial statements of Holdings and attributes a portion of net income and equity of Holdings to non-controlling interests related to the vested Partnership Interests held by the Continuing Limited Partners. Income or loss is attributed to the non-controlling interests based on the weighted average percentage of Partnership Interests held by Continuing Limited Partners, excluding unvested Partnership Interests held by Management Feeder, relative to all Partnership Interests of Holdings during the period following the Reorganization Transactions. Holdings equity is attributed to non-controlling interests based on the Partnership Interests held by Continuing Limited Partners, excluding unvested Partnership Interests held by Management Feeder, relative to all Partnership Interests as of the balance sheet date. The non-controlling interests’ ownership percentage may fluctuate over time as the Continuing Limited Partners exchange Partnership Interests, together with the retirement of a corresponding number of shares of Class B common stock, for shares of Class A common stock and Partnership Interests held by Management Feeder vest. The following table summarizes the ownership of Partnership Interests of Holdings (excluding unvested Partnership Interests held by Management Feeder):

	Partnership Interests			Ownership Percentage
	Core & Main	Continuing Limited Partners	Total	Core & Main		Continuing Limited Partners		Total
Balances at January 30, 2022	167,522,403	75,344,408	242,866,811	69.0	%	31.0	%	100.0	%
Issuance of Partnership Interests	8,276	—	8,276	—		—		—
Exchange of Partnership Interests	432,916	(433,034)	(118)	0.2		(0.2)		—
Forfeiture of Partnership Interests	(20)	—	(20)	—		—		—
Vesting of Partnership Interests	—	296,007	296,007	(0.1)		0.1		—
Balances at July 31, 2022	167,963,575	75,207,381	243,170,956	69.1	%	30.9	%	100.0	%