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Basic and Diluted Earnings Per Share | 12 Months Ended
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Feb. 02, 2025
Earnings Per Share [Abstract] |
Basic and Diluted Earnings Per Share | BASIC AND DILUTED EARNINGS PER SHARE The following table presents the calculation of basic and diluted earnings per share for fiscal 2024, fiscal 2023 and fiscal 2022. Basic earnings per share is computed by dividing net income attributable to Core & Main 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 net 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.
| Fiscal Years Ended
Basic earnings per share: | February 2, 2025 |  | January 28, 2024 |  | January 29, 2023
Net income | $ | 434 |  |  | $ | 531 |  |  | $ | 581 |
Net income attributable to non-controlling interests | 23 |  |  | 160 |  |  | 215 |
Net income available to Class A common stock | 411 |  |  | 371 |  |  | 366 |
Weighted average shares outstanding | 191,617,275 |  |  | 172,839,836 |  |  | 169,482,199 |
Net income per share | $ | 2.14 |  |  | $ | 2.15 |  |  | $ | 2.16 |
Diluted earnings per share: |  |  |  |  |
Net income available to common shareholders - basic | $ | 411 |  |  | $ | 371 |  |  | $ | 366 |
Increase to net income attributable to dilutive instruments | 18 |  |  | 118 |  |  | 159 |
Net income available to common shareholders - diluted | 429 |  |  | 489 |  |  | 525 |
Weighted average shares outstanding - basic | 191,617,275 |  |  | 172,839,836 |  |  | 169,482,199 |
Incremental shares of common stock attributable to dilutive instruments | 9,825,475 |  |  | 54,978,241 |  |  | 76,734,805 |
Weighted average shares outstanding - diluted | 201,442,750 |  |  | 227,818,077 |  |  | 246,217,004 |
Net income per share - diluted | $ | 2.13 |  |  | $ | 2.15 |  |  | $ | 2.13 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-3 + Details
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