Earnings Per Share And Shareholders' Equity

3 Months Ended

May 04, 2019

Earnings Per Share And Shareholders' Equity [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

Earnings Per Share and Shareholders’ Equity (Deficit)

Earnings Per Share

Earnings per basic share is computed based on the weighted-average number of outstanding common shares. Earnings per diluted share include the weighted-average effect of dilutive options and restricted stock on the weighted-average shares outstanding.

The following table provides shares utilized for the calculation of basic and diluted earnings per share for the first quarter of 2019 and 2018:



	First Quarter
	2019		2018
	(in millions)
Weighted-average Common Shares:
Issued Shares	284		283
Treasury Shares	(8	)	(4	)
Basic Shares	276		279
Effect of Dilutive Options and Restricted Stock	2		3
Diluted Shares	278		282
Anti-dilutive Options and Awards (a)	5		5

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(a)	These options and awards were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive.

Shareholders’ Equity (Deficit)

Common Stock Share Repurchases

Under the authority of the Company’s Board of Directors, the Company repurchased shares of its common stock under the following repurchase programs for the first quarter of 2018:



	Amount Authorized		Shares Repurchased	Amount Repurchased		Average Stock Price of Shares Repurchased within Program
Repurchase Program	Amount Authorized		Shares Repurchased	Amount Repurchased		Average Stock Price of Shares Repurchased within Program
	(in millions)		(in thousands)	(in millions)
March 2018	$	250	1,563	$	58	$	36.93
September 2017	250		527	25		$	46.98
Total			2,090	$	83

The Company did not repurchase any shares in the first quarter of 2019.

In March 2018, the Company's Board of Directors approved a $250 million share repurchase program, which included the $23 million remaining under the September 2017 repurchase program.

The March 2018 repurchase program had $79 million remaining as of May 4, 2019.

There were $4 million of share repurchases reflected in Accounts Payable on the May 5, 2018 Consolidated Balance Sheet.

Dividends

Under the authority and declaration of the Board of Directors, the Company paid the following dividends during the first quarter of 2019 and 2018:



	Ordinary Dividends		Total Paid
	(per share)		(in millions)
2019
First Quarter	$	0.30	$	83
2018
First Quarter	$	0.60	$	168