Net Loss Per Share

3 Months Ended

Apr. 30, 2022

The Company reports both basic net loss per share, which is based on the weighted-average number of common stock outstanding during the period, and diluted net loss per share, which is based on the weighted-average number of common stock outstanding and potentially dilutive shares outstanding during the period.

The computations of basic and diluted net loss per share are presented in the following table (in millions, except per share amounts):


	Three Months Ended
	April 30, 2022		May 1, 2021
Numerator:
Net loss	$	(165.7)	$	(88.2)


Denominator:
Weighted-average shares — basic	848.0		693.4
Effect of dilutive securities:
Share-based awards	—		—
Convertible debt	—		—
Weighted-average shares — diluted	848.0		693.4






Net loss per share:
Basic	$	(0.20)	$	(0.13)
Diluted	$	(0.20)	$	(0.13)

Potential dilutive securities include dilutive common stock from share-based awards attributable to the assumed exercise of stock options, restricted stock units and employee stock purchase plan shares using the treasury stock method. Potential dilutive securities include dilutive common stock from share-based awards attributable to the shares that could be issued upon conversion of the Company’s convertible debt using the if-converted method. Under the treasury stock method and if-converted method, potential common stock outstanding are not included in the computation of diluted net income per share if their effect is anti-dilutive.

Anti-dilutive potential shares are presented in the following table (in millions):


	Three Months Ended
	April 30, 2022	May 1, 2021
Weighted-average shares outstanding:
Share-based awards	13.9	16.8
Convertible debt	—	1.6

Anti-dilutive potential shares from share-based awards are excluded from the calculation of diluted earnings per share for all periods reported above because either their exercise price exceeded the average market price during the period or the share-based awards were determined to be anti-dilutive based on applying the treasury stock method. Anti-dilutive potential shares from convertible debt are excluded from the calculation of diluted earnings per share for all periods reported above because the shares that would be issued upon conversion of the Company’s convertible debt were determined to be anti-dilutive based on applying the if-converted method. Anti-dilutive potential shares from share-based awards are excluded from the calculation of diluted earnings per share for the three months ended April 30, 2022 and May 1, 2021 due to the net losses reported in those periods.