Earnings (loss) per common share (EPS) (Tables)

6 Months Ended

Jul. 31, 2021

Earnings Per Share [Abstract]

Schedule of earnings per share, basic

The computation of basic EPS is outlined in the table below:

	13 weeks ended				26 weeks ended
(in millions, except per share amounts)	July 31, 2021		August 1, 2020		July 31, 2021		August 1, 2020
Numerator:
Net income (loss) attributable to common shareholders	$	216.0	$	(90.0)	$	345.8	$	(295.3)
Denominator:
Weighted average common shares outstanding	52.7		52.0		52.4		51.9
EPS – basic	$	4.10	$	(1.73)	$	6.60	$	(5.69)

Schedule of earnings per share, diluted

The computation of diluted EPS is outlined in the table below:

	13 weeks ended				26 weeks ended
(in millions, except per share amounts)	July 31, 2021		August 1, 2020		July 31, 2021		August 1, 2020
Numerator:
Net income (loss) attributable to common shareholders	$	216.0	$	(90.0)	$	345.8	$	(295.3)
Add: Dividends on Preferred Shares	8.6		—		17.2		—
Numerator for diluted EPS	$	224.6	$	(90.0)	$	363.0	$	(295.3)
Denominator:
Basic weighted average common shares outstanding	52.7		52.0		52.4		51.9
Plus: Dilutive effect of share awards	1.7		—		1.8		—
Plus: Dilutive effect of Preferred Shares	8.0		—		8.0		—
Diluted weighted average common shares outstanding	62.4		52.0		62.2		51.9
EPS – diluted	$	3.60	$	(1.73)	$	5.84	$	(5.69)

Schedule of antidilutive securities excluded from computation of earnings per share

The calculation of diluted EPS excludes the following items for each respective period on the basis that their effect would be anti-dilutive:

	13 weeks ended		26 weeks ended
(in millions)	July 31, 2021	August 1, 2020	July 31, 2021	August 1, 2020
Share awards	—	1.7	—	1.4
Potential impact of Preferred Shares	—	7.7	—	7.7
Total anti-dilutive shares	—	9.4	—	9.1