Annual report pursuant to Section 13 and 15(d)

Shareholders' Equity

v3.22.4
Shareholders' Equity
 12 Months Ended
Jan. 28, 2023
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 28, 2023 and January 29, 2022.
Net Income Per Share
The following table sets forth the calculations of basic and diluted net income per share:
  Year Ended
  January 28, January 29, January 30,
(in millions, except per share data) 2023 2022 2021
Basic net income per share:      
Net income $ 1,615.4  $ 1,327.9  $ 1,341.9 
Weighted average number of shares outstanding 223.2  227.9  236.4 
Basic net income per share $ 7.24  $ 5.83  $ 5.68 
Diluted net income per share:      
Net income $ 1,615.4  $ 1,327.9  $ 1,341.9 
Weighted average number of shares outstanding 223.2  227.9  236.4 
Dilutive effect of stock options and restricted stock (as determined by
   applying the treasury stock method)		 0.9  1.1  0.9 
Weighted average number of shares and dilutive potential shares
   outstanding		 224.1  229.0  237.3 
Diluted net income per share $ 7.21  $ 5.80  $ 5.65 
For the year ended January 28, 2023, stock options and other stock-based awards of 3.0 million shares were excluded from the calculation of diluted net income per share because their inclusion would be anti-dilutive. For the years ended January 29, 2022 and January 30, 2021, substantially all of the stock options outstanding were included in the calculation of the weighted average number of shares and dilutive potential shares outstanding.
Share Repurchase Programs
We repurchased 4,613,696, 9,156,898 and 3,982,478 shares of common stock on the open market in fiscal 2022, fiscal 2021 and fiscal 2020, respectively, for $647.5 million, $950.0 million and $400.0 million, respectively. At January 28, 2023, we had $1.85 billion remaining under our Board repurchase authorization.