Basic and Diluted Earnings Per Share (Tables)

9 Months Ended

Oct. 27, 2024

Schedule of basic and diluted earnings per share

Basic earnings per share is computed by dividing net income attributable to Core & Main for the period by the weighted average number of shares of Class A common stock outstanding during the same period. Shares of Class A common stock issued or redeemed during the period were weighted for the portion of the period in which the shares of Class A common stock were outstanding. The Company did not apply the two-class method because shares of Class B common stock do not participate in earnings or losses of Core & Main. As a result, the shares of Class B common stock are not considered participating securities and are not included in the weighted average shares outstanding for purposes of earnings per share. Net income allocated to holders of non-controlling interests was excluded from net income available to the Class A common stock. There were no preferred dividends and no shares of preferred stock outstanding for the period.

The diluted earnings per share calculation includes the basic weighted average number of shares of Class A common stock outstanding plus the dilutive impact of potential outstanding shares of Class A common stock that would be issued upon exchange of Partnership Interests, together with the retirement of a corresponding number of shares of Class B common stock, under the if-converted method, if dilutive. The treasury stock method is applied to outstanding awards, including unvested Partnership Interests and outstanding stock appreciation rights, restricted stock units and stock options.


	Three Months Ended				Nine Months Ended
Basic earnings per share:	October 27, 2024		October 29, 2023		October 27, 2024		October 29, 2023
Net income	$	140	$	158	$	367	$	455
Net income attributable to non-controlling interests	7		46		20		147
Net income available to Class A common stock	133		112		347		308
Weighted average shares outstanding	191,538,672		170,999,291		192,173,529		169,989,859
Net income per share	$	0.69	$	0.65	$	1.81	$	1.81
Diluted earnings per share:
Net income available to common shareholders - basic	$	133	$	112	$	347	$	308
Increase to net income attributable to dilutive instruments	5		34		15		110
Net income available to common shareholders - diluted	138		146		362		418
Weighted average shares outstanding - basic	191,538,672		170,999,291		192,173,529		169,989,859
Incremental shares of common stock attributable to dilutive instruments	9,626,881		53,687,122		9,973,183		62,495,881
Weighted average shares outstanding - diluted	201,165,553		224,686,413		202,146,712		232,485,740
Net income per share - diluted	$	0.69	$	0.65	$	1.79	$	1.80