Annual report pursuant to Section 13 and 15(d)

Shareholders' Equity

v3.20.1
Shareholders' Equity
 12 Months Ended
Feb. 01, 2020
Stockholders' Equity Note [Abstract]  
Shareholders' Equity Shareholders’ Equity
Preferred Stock
The Company is authorized to issue 10,000,000 shares of Preferred Stock, $0.01 par value per share. No preferred shares are issued and outstanding at February 1, 2020 and February 2, 2019.
Net Income (Loss) Per Share
The following table sets forth the calculations of basic and diluted net income (loss) per share:
 
 
Year Ended
 
 
February 1,
 
February 2,
 
February 3,
(in millions, except per share data)
 
2020
 
2019
 
2018
Basic net income (loss) per share:
 
 
 
 
 
 
Net income (loss)
 
$
827.0

 
$
(1,590.8
)
 
$
1,714.3

Weighted average number of shares outstanding
 
237.2

 
237.9

 
236.8

Basic net income (loss) per share
 
$
3.49

 
$
(6.69
)
 
$
7.24

Diluted net income (loss) per share:
 
 

 
 

 
 

Net income (loss)
 
$
827.0

 
$
(1,590.8
)
 
$
1,714.3

Weighted average number of shares outstanding
 
237.2

 
237.9

 
236.8

Dilutive effect of stock options and restricted stock (as determined by
applying the treasury stock method)
 
1.1

 
—

 
0.9

Weighted average number of shares and dilutive potential shares
outstanding
 
238.3

 
237.9

 
237.7

Diluted net income (loss) per share
 
$
3.47

 
$
(6.69
)
 
$
7.21


At February 1, 2020 and February 3, 2018, substantially all of the stock options outstanding were included in the calculation of the weighted average number of shares and dilutive potential shares outstanding. As a result of the net loss for the year ended February 2, 2019, diluted net income (loss) per share excludes the impact of stock options and restricted stock (as determined by applying the treasury stock method) because the effect would be anti-dilutive.
Share Repurchase Programs
The Company repurchases shares on the open market and under Accelerated Share Repurchase agreements. The Company repurchased 1,967,355 shares of common stock on the open market for approximately $200.0 million in fiscal 2019. The Company did not repurchase any shares of common stock in fiscal 2018 or fiscal 2017. At February 1, 2020, the Company had $800.0 million remaining under Board repurchase authorization.