v3.26.1
Net Income Per Share and Shareholders’ Equity (Deficit)
 6 Months Ended
Aug. 01, 2026
Net Income Per Share and Shareholders’ Equity (Deficit) [Abstract]  
Earnings Per Share and Shareholders’ Equity (Deficit) Net Income Per Share and Shareholders’ Equity (Deficit)
Net Income Per Share
Net Income per Basic Share is computed based on the weighted-average number of common shares outstanding. Net Income per Diluted Share includes the weighted-average effect of dilutive restricted share units, performance share units and stock options (collectively, “Dilutive Awards”) on the weighted-average common shares outstanding.
The following table provides the weighted-average shares utilized for the calculation of Net Income per Basic and Diluted Share for the second quarters of and year-to-date 2026 and 2025:
Second QuarterYear-to-Date
2026202520262025
(in millions)
Common Shares216 225 216 227 
Treasury Shares(15)(15)(15)(15)
Basic Shares201 210 201 212 
Effect of Dilutive Awards1 1 1 1 
Diluted Shares202 211 202 213 
Anti-dilutive Awards (a)— — — — 
 _______________
(a)These awards were excluded from the calculation of Net Income per Diluted Share because their inclusion would have been anti-dilutive.
Common Stock Repurchases and Retirements
The Company did not repurchase any shares of its common stock during year-to-date 2026.
Under the authority of the Company’s Board of Directors, the Company repurchased shares of its common stock under the following repurchase programs during year-to-date 2025:
Repurchase
Program		Amount
Authorized		Shares
Repurchased		Amount
Repurchased		Average Stock Price
202520252025
(in millions)(in thousands)(in millions)
January 2024$500 460 $17 $37.67 
January 2025500 8,008 239 29.78 
Total8,468 $256 
On February 27, 2025, the Company cancelled the remaining $121 million authorization available under the January 2024 Program and began repurchasing shares under the January 2025 Program. The January 2025 Program had $117 million of remaining authority as of August 1, 2026.
Shares repurchased under these programs are retired and cancelled upon repurchase. As a result, the Company retired the 8.468 million shares repurchased during year-to-date 2025.
Dividends
The Company paid the following dividends during the first and second quarters of 2026 and 2025:
Ordinary DividendsTotal Paid
(per share)(in millions)
2026
First Quarter$0.20 $40 
Second Quarter0.20 40 
Total$0.40 $80 
2025
First Quarter$0.20 $43 
Second Quarter0.20 42 
Total$0.40 $85 
In August 2026, the Company declared its third quarter 2026 ordinary dividend of $0.20 per share payable on September 4, 2026 to shareholders of record at the close of business on August 21, 2026.