Note 9 - Earnings Per Share

6 Months Ended

Jul. 29, 2023

Notes to Financial Statements

Earnings Per Share [Text Block]

9. Earnings Per Share

We account for earnings per share (“EPS”) using the treasury stock method. Basic EPS is computed by dividing net income for the period by the weighted-average number of common shares outstanding at the end of the period. Diluted earnings per share reflects the weighted-average number of common shares outstanding during the period used in the basic EPS computation plus dilutive common stock equivalents. The computation of diluted earnings per share does not assume conversion, exercise, or contingent issuance of securities that would have an anti-dilutive effect on EPS. The computation of basic and diluted EPS is as follows:

	Thirteen weeks ended					Twenty-six weeks ended
	July 29,			July 30,		July 29,		July 30,
(in millions, except per share data)	2023			2022		2023		2022
Net income / (loss) attributable to Foot Locker, Inc.	$	(5	)	$	94	$	31	$	227
Weighted-average common shares outstanding		94.2			94.1		94.0		95.1
Dilutive effect of potential common shares		—			1.0		1.0		1.0
Weighted-average common shares outstanding assuming dilution		94.2			95.1		95.0		96.1
Earnings / (loss) per share - basic	$	(0.05	)	$	1.00	$	0.33	$	2.39
Earnings / (loss) per share - diluted	$	(0.05	)	$	0.99	$	0.33	$	2.36
Anti-dilutive share-based awards excluded from diluted calculation		2.7			2.8		2.4		2.7

Performance stock units related to our long-term incentive programs of 0.8 million been excluded from diluted weighted-average shares for each of the periods ended July 29, 2023 and July 30, 2022. The issuance of these shares is contingent on our performance metrics as compared to the pre-established performance goals, which have not been achieved.