Earnings (Loss) Per Share

3 Months Ended

May 01, 2021

3.	Earnings (Loss) Per Share

The following tables set forth the computation of basic and diluted earnings (loss) per share:

	13 Weeks Ended
	May 1, 2021						May 2, 2020
	Net Income				Shares		Net Loss						Shares
	(millions, except per share data)
Net income (loss)	$	103				310.7	$	(3,581	)					309.7
Shares to be issued under deferred compensation and other plans						0.9								0.9
	$	103				311.6	$	(3,581	)					310.6
Basic earnings (loss) per share			$	0.33						$	(11.53	)
Effect of dilutive securities:
Stock options and restricted stock units						7.0								—
	$	103				318.6	$	(3,581	)					310.6
Diluted earnings (loss) per share			$	0.32						$	(11.53	)

In addition to the stock options and restricted stock units reflected in the foregoing tables, stock options to purchase 14.7 million shares of common stock and restricted stock units relating to 11.7 million shares of common stock were outstanding at May 1, 2021, but were not included in the computation of diluted earnings per share because their inclusion would have been antidilutive or they were subject to performance conditions that had not been met.

For the 13 weeks ended May 2, 2020, as a result of the net loss for the quarter, all options and restricted stock units have been excluded from the calculation of diluted earnings per share and, therefore, there was no difference in the weighted average number of common shares for basic and diluted loss per share as the effect of all potentially dilutive shares outstanding was anti-dilutive. Stock options to purchase 17.3 million shares of common stock and restricted stock units relating to 3.4 million shares of common stock outstanding at May 2, 2020 were excluded from the computation of diluted earnings per share.