Net Income (Loss) Per Share

9 Months Ended

Nov. 01, 2025

The Company reports both basic net income (loss) per share, which is based on the weighted-average number of common stock outstanding during the period, and diluted net income (loss) per share, which is based on the weighted-average number of common stock outstanding and potentially dilutive shares outstanding during the period.

The computations of basic and diluted net income (loss) per share are presented in the following table (in millions, except per share amounts):


	Three Months Ended				Nine Months Ended
	November 1, 2025		November 2, 2024		November 1, 2025		November 2, 2024
Numerator:
Net income (loss)	$	1,901.3	$	(676.3)	$	2,274.0	$	(1,085.2)


Denominator:
Weighted-average shares — basic	855.8		865.7		861.1		865.5
Effect of dilutive securities:
Stock-based awards	7.9		—		8.8		—

Weighted-average shares — diluted	863.7		865.7		869.9		865.5






Net income (loss) per share
Basic	$	2.22	$	(0.78)	$	2.64	$	(1.25)
Diluted	$	2.20	$	(0.78)	$	2.61	$	(1.25)

Anti-dilutive potential shares	4.5		11.0		4.7		11.1

Potential dilutive securities include dilutive common stock from stock-based awards, including stock options, restricted stock units, employee stock purchase plan shares, warrant shares and unsettled shares under accelerated share repurchase agreements using the treasury stock method. Under the treasury stock method, potential shares outstanding are not included in the computation of diluted net income per share if their effect is anti-dilutive. In periods of net loss, all potential dilutive shares are anti-dilutive.