Basic earnings per share is computed by dividing net income attributable to Core & Main for the period by the weighted average number of shares of Class A common stock outstanding during the same period. Shares of Class A common stock issued during the period were weighted for the portion of the period in which the shares of Class A common stock were outstanding. The Company did not apply the two-class method because shares of Class B common stock do not participate in earnings of Core & Main. As a result, the shares of Class B common stock are not considered participating securities and are not included in the weighted average shares outstanding for purposes of basic earnings per share. Net income allocated to holders of non-controlling interests was excluded from net income available to the Class A common stock. There were no preferred dividends and no shares of preferred stock outstanding for the period.

The diluted earnings per share calculation includes the basic weighted average number of shares of Class A common stock outstanding plus the dilutive impact of potential outstanding shares of Class A common stock that would be issued upon exchange of Partnership Interests, together with the retirement of a corresponding number of shares of Class B common stock, under the if-converted method, if dilutive. The treasury stock method is applied to outstanding awards, including unvested Partnership Interests and outstanding stock appreciation rights, restricted stock units and stock options.


	Three Months Ended				Six Months Ended
Basic earnings per share:	August 2, 2026		August 3, 2025		August 2, 2026		August 3, 2025
Net income	$	150	$	141	$	263	$	246
Net income attributable to non-controlling interests	6		7		11		12
Net income available to Class A common stock	144		134		252		234
Weighted average shares outstanding	186,639,659		189,904,002		187,507,875		189,855,388
Net income per share	$	0.77	$	0.71	$	1.34	$	1.23
Diluted earnings per share:
Net income available to common shareholders - basic	$	144	$	134	$	252	$	234
Increase to net income attributable to dilutive instruments	4		5		8		9
Net income available to common shareholders - diluted	148		139		260		243
Weighted average shares outstanding - basic	186,639,659		189,904,002		187,507,875		189,855,388
Incremental shares of common stock attributable to dilutive instruments	6,719,675		8,398,608		7,011,475		8,647,758
Weighted average shares outstanding - diluted	193,359,334		198,302,610		194,519,350		198,503,146
Net income per share - diluted	$	0.77	$	0.70	$	1.34	$	1.22