ACQUISITIONS (Tables)

12 Months Ended

Feb. 01, 2026

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Schedule of business acquisition

The following table summarizes total purchase consideration:

in millions
Cash consideration for outstanding shares	$	4,257
Repayment of GMS outstanding debt (1)	824
Total purchase consideration	$	5,081

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(1)    Represents the repayment of certain GMS long-term debt which was required to be repaid upon a change in control. As further discussed below, an additional $354 million of GMS long-term debt was also repaid upon completion of the merger and has been reflected as an assumed liability upon consummation of the transaction.

The following table summarizes total purchase consideration:

in millions
Total cash consideration	$	17,707
Fair value of common stock issued (1)	321
Total purchase consideration	$	18,028

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(1)    In connection with the acquisition, certain members of SRS’s management team concurrently reinvested a portion of their respective after-tax merger consideration proceeds into shares of the Company’s common stock. A portion of such shares of Company common stock are fully vested, and accordingly, the fair value of such shares was recorded as non-cash purchase consideration. A portion of such shares of Company common stock, which replaced legacy SRS stock-based awards, are subject to service-based vesting conditions over a three-year period and become forfeitable if such vesting conditions are not satisfied. Accordingly, a portion of the fair value of these shares was recorded as non-cash purchase consideration, and the remainder will be recorded as post-combination expense over the vesting period. The fair value of these shares, including the amount which will be recorded as post-combination compensation expense, is not material.

Business Combination, Recognized Asset Acquired and Liability Assumed

The following table summarizes our preliminary purchase price allocation, including resulting goodwill:

in millions	Preliminary Fair Value
Cash and cash equivalents	$	136
Receivables	899
Merchandise inventories	568
Property and equipment	715
Goodwill	2,610
Intangible assets	1,800
Other current and non-current assets	458
Total assets acquired	$	7,186
Accounts payable	$	380
Other current liabilities	414
Senior notes (1)	354
Deferred income taxes (2)	403
Other long-term liabilities	554
Total liabilities assumed	$	2,105
Net assets acquired	$	5,081

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(1)    Represents GMS senior notes that were redeemed by the Company upon completion of the merger. As the repayment was made at the discretion of the Company, the senior notes are reflected as an assumed liability upon consummation of the transaction with the corresponding long-term debt repayment presented within financing activities on our consolidated statement of cash flows.

(2)    Primarily resulting from the difference in book and tax basis related to identifiable intangible assets.

The following table summarizes our purchase price allocation, including resulting goodwill:

in millions	Fair Value
Cash and cash equivalents	$	161
Receivables	1,831
Merchandise inventories	1,988
Property and equipment	789
Goodwill	11,003
Intangible assets	5,780
Other current and non-current assets	744
Total assets acquired	$	22,296
Accounts payable	$	1,791
Other current liabilities	584
Deferred tax liabilities (1)	1,111
Other long-term liabilities	782
Total liabilities assumed	$	4,268
Net assets acquired	$	18,028

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(1)    Primarily resulting from the difference in book and tax basis related to identifiable intangible assets.

Schedule of Acquired Finite-Lived Intangible Assets by Major Class

The preliminary fair value and estimated useful lives of identifiable intangible assets are as follows:

in millions	Weighted Average Useful Life (Years)	Preliminary Fair Value
Customer relationships	19	$	1,540
Trade names	7	260
Total identifiable intangible assets		$	1,800

The estimated fair values and estimated useful lives of identifiable intangible assets are as follows:

in millions	Weighted Average Useful Life (Years)	Fair Value
Customer relationships	20	$	5,400
Trade names	5	380
Total identifiable intangible assets		$	5,780