Net Income (Loss) Per Share

12 Months Ended

Jan. 31, 2026

The Company reports both basic net income (loss) per share, which is based on the weighted-average number of common stock outstanding during the period, and diluted net income (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 income (loss) per share are presented in the following table (in millions, except per share amounts):


	Year Ended
	January 31, 2026		February 1, 2025		February 3, 2024
Numerator:


Net income (loss)	$	2,670.1	$	(885.0)	$	(933.4)
Denominator:
Weighted-average shares — basic	861.0		865.5		861.3
Effect of dilutive securities:
Stock-based awards	8.7		—		—
Weighted-average shares — diluted	869.7		865.5		861.3







Net income (loss) per share:
Basic	$	3.10	$	(1.02)	$	(1.08)
Diluted	$	3.07	$	(1.02)	$	(1.08)

Anti-dilutive potential shares	4.3		13.0		10.9

Potential dilutive securities include dilutive common stock from stock-based awards, including stock options, restricted stock units, employee stock purchase plan shares and warrant shares using the treasury stock method. Under the treasury stock method, potential shares of common stock outstanding are not included in the computation of diluted net income per share, if their effect is anti-dilutive. In periods of net loss, all potential dilutive shares are anti-dilutive.