Basic EPS is computed by dividing net income by the basic weighted-average number of shares outstanding. Diluted EPS is computed similarly to basic EPS, except the weighted-average number of shares outstanding is increased to include the dilutive effect of outstanding stock-based awards. The dilutive effect of outstanding stock-based awards is computed using the treasury stock method.

The following table provides a reconciliation of the weighted-average number of shares outstanding used to compute basic and diluted EPS for the periods presented:


	Three Months Ended
	May 1, 2026	May 2, 2025
	(in millions)
Basic weighted-average number of shares outstanding	43.7	47.6
Dilutive common share equivalents - stock options and other stock-based awards	0.3	0.2
Diluted weighted-average number of shares outstanding	44.0	47.8

Antidilutive stock awards excluded from the weighted-average number of shares outstanding used to compute diluted EPS for the three months ended May 1, 2026 and May 2, 2025 were immaterial.

The Company may repurchase shares in accordance with established repurchase plans. The Company retires its common stock upon repurchase with the excess over par value allocated to additional paid-in capital. When repurchases for the period exceed total additional paid-in capital, the excess repurchases are recorded as a reduction to retained earnings. The Company has not made any material purchases of common stock other than in connection with its established share repurchase plans.

During the three months ended May 1, 2026, the Company repurchased approximately 1.9 million shares of its common stock from the open market under its existing share repurchase plan for approximately $175 million. In December 2024, the Company's Board of Directors authorized the repurchase of up to $1.2 billion of the Company's outstanding common stock under its existing share repurchase plan. As of May 1, 2026, the Company has repurchased approximately 30.4 million shares of its common stock under the plan for approximately $2.7 billion, which included amounts previously authorized under the plan prior to December 2024.

The Company declared and paid a quarterly dividend of $0.37 per share of its common stock during the three months ended May 1, 2026. Subsequent to the end of the quarter, on May 28, 2026, the Company's Board of Directors declared a quarterly dividend of $0.37 per share of the Company's common stock payable on July 24, 2026 to stockholders of record on July 10, 2026.