Net Income (Loss) Per Share

3 Months Ended

May 01, 2021

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

7. 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:

	Quarter Ended
(Dollar and Shares in Millions, Except per Share Data)	May 1, 2021		May 2, 2020
Numerator—Net income (loss)	$	14	$	(541	)
Denominator—Weighted-average shares:
Basic		154		154
Dilutive impact		2		—
Diluted		156		154
Net income (loss) per share:
Basic	$	0.09	$	(3.52	)
Diluted	$	0.09	$	(3.52	)

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:

	Quarter Ended
	May 1, 2021		May 2, 2020
Anti-dilutive shares		3		6