XML 17 R4.htm IDEA: XBRL DOCUMENT v3.22.2.2
Condensed Consolidated Statements of Operations - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Aug. 01, 2021
Jul. 31, 2022
Aug. 01, 2021
Jul. 26, 2021
Jul. 31, 2022
Aug. 01, 2021
Jul. 26, 2021
Income Statement [Abstract]              
Net sales   $ 1,861 $ 1,298   $ 3,459 $ 2,353  
Cost of sales   1,360 973   2,537 1,771  
Gross profit   501 325   922 582  
Operating expenses:              
Selling, general and administrative   230 192   436 346  
Depreciation and amortization   34 33   69 67  
Total operating expenses   264 225   505 413  
Operating income   237 100   417 169  
Interest expense   17 37   30 73  
Loss on debt modification and extinguishment   0 50   0 50  
Income before provision for income taxes   220 13   387 46  
Provision for income taxes   38 3   68 9  
Net income   182 10   319 37  
Less: net income (loss) attributable to non-controlling interests   67 (17)   118 (17)  
Net income attributable to Core & Main, Inc. (1) $ (20) $ 115 $ 27 [1] $ 47 $ 201 $ 54 [1] $ 74
Earnings per share:              
Basic (in dollars per share)   $ 0.69 $ (0.14) [2]   $ 1.20 $ (0.14) [2]  
Diluted (in dollars per share)   $ 0.67 $ (0.14) [2]   $ 1.17 $ (0.14) [2]  
Number of shares used in computing EPS              
Basic (shares)   167,876,179 138,978,366 [2]   167,708,034 138,978,366 [2]  
Diluted (shares)   246,175,878 138,978,366 [2]   246,160,811 138,978,366 [2]  
[1] For the three and six months ended August 1, 2021, the net income (loss) attributable to Core & Main, Inc. includes net income prior to the Reorganization Transactions (as defined in Note 1) of $47 million and $74 million, respectively, and a net loss subsequent to the Reorganization Transactions of $20 million for both periods. Refer to the Statements of Changes in Stockholders’ Equity/Partners’ Capital for a summary of net income (loss) attributable to Core & Main, Inc. prior to and subsequent to the Reorganization Transactions. See Note 1 for a description of the Basis of Presentation of the consolidated financial statements.
[2] For the three and six months ended August 1, 2021, this represents basic and diluted earnings per share of Class A common stock and weighted average shares of Class A common stock outstanding for the period from July 23, 2021 through August 1, 2021, which is the period following the Reorganization Transactions described in Note 1. Refer to calculation of earnings per share in Note 10.