Annual report pursuant to Section 13 and 15(d)

Shareholders' Equity

v3.20.4
Shareholders' Equity
 12 Months Ended
Jan. 30, 2021
Stockholders' Equity Note [Abstract]  
Shareholders' Equity Shareholders’ Equity
Preferred Stock
We are authorized to issue 10,000,000 shares of Preferred Stock, $0.01 par value per share. No preferred shares are issued and outstanding at January 30, 2021 and February 1, 2020.
Net Income (Loss) Per Share
The following table sets forth the calculations of basic and diluted net income (loss) per share:
  Year Ended
  January 30, February 1, February 2,
(in millions, except per share data) 2021 2020 2019
Basic net income (loss) per share:      
Net income (loss) $ 1,341.9  $ 827.0  $ (1,590.8)
Weighted average number of shares outstanding 236.4  237.2  237.9 
Basic net income (loss) per share $ 5.68  $ 3.49  $ (6.69)
Diluted net income (loss) per share:      
Net income (loss) $ 1,341.9  $ 827.0  $ (1,590.8)
Weighted average number of shares outstanding 236.4  237.2  237.9 
Dilutive effect of stock options and restricted stock (as determined by
applying the treasury stock method)		 0.9  1.1  — 
Weighted average number of shares and dilutive potential shares
outstanding		 237.3  238.3  237.9 
Diluted net income (loss) per share $ 5.65  $ 3.47  $ (6.69)
At January 30, 2021 and February 1, 2020, 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
We repurchased 3,982,478 shares of common stock on the open market for $400.0 million in fiscal 2020 and we repurchased 1,967,355 shares of common stock on the open market for $200.0 million in fiscal 2019. We did not repurchase any shares of common stock in fiscal 2018. At January 30, 2021, we had $400.0 million remaining under Board repurchase authorization.
Subsequently, on March 2, 2021, the Board increased the share repurchase authorization by $2.0 billion resulting in a total share repurchase authorization of $2.4 billion.