Net Income (Loss) Per Share

9 Months Ended

Oct. 30, 2021

8. Net Income (Loss) Per Share

Basic Net income (loss) per share is Net income (loss) divided by the average number of common shares outstanding during the period. Diluted Net income (loss) per share includes incremental shares assumed for share-based awards and stock warrants. Potentially dilutive shares include stock options, unvested restricted stock units and awards, and warrants outstanding during the period, using the treasury stock method. Potentially dilutive shares are excluded from the computations of diluted earnings per share (“EPS”) if their effect would be anti-dilutive.

The information required to compute basic and diluted Net income (loss) per share is as follows:


	Three Months Ended		Nine Months Ended
(Dollar and Shares in Millions, Except per Share Data)	October 30, 2021	October 31, 2020	October 30, 2021	October 31, 2020
Numerator—Net income (loss)	$243	$(12)	$639	$(506)
Denominator—Weighted-average shares:
Basic	145	154	151	154
Dilutive impact	2	—	2	—
Diluted	147	154	153	154
Net income (loss) per share:
Basic	$1.67	$(0.08)	$4.24	$(3.28)
Diluted	$1.65	$(0.08)	$4.19	$(3.28)

The following potential shares of common stock were excluded from the diluted Net income (loss) per share calculation because their effect would have been anti-dilutive:


	Three Months Ended		Nine Months Ended
	October 30, 2021	October 31, 2020	October 30, 2021	October 31, 2020
Anti-dilutive shares	3	6	3	6