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Earnings (Loss) Per Share and Shareholders’ Equity (Deficit) | 6 Months Ended
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Jul. 31, 2021
Earnings Per Share And Shareholders' Equity [Abstract] |
Earnings (Loss) Per Share and Shareholders’ Equity (Deficit) | Earnings (Loss) Per Share and Shareholders’ Equity (Deficit) Earnings (Loss) Per Share Earnings (loss) per basic share is computed based on the weighted-average number of common shares. Earnings (loss) per diluted share include the weighted-average effect of dilutive restricted stock and options on the weighted-average shares outstanding. The following table provides the weighted-average shares utilized for the calculation of basic and diluted earnings (loss) per share for the second quarter and year-to-date 2021 and 2020:
| Second Quarter |  | Year-to-Date
| 2021 |  | 2020 |  | 2021 |  | 2020
| (in millions)
Common Shares | 288 |  |  | 286 |  |  | 288 |  |  | 285 |
Treasury Shares | (13) |  |  | (8) |  |  | (11) |  |  | (8) |
Basic Shares | 275 |  |  | 278 |  |  | 277 |  |  | 277 |
Effect of Dilutive Restricted Stock and Options | 5 |  |  | — |  |  | 5 |  |  | — |
Diluted Shares | 280 |  |  | 278 |  |  | 282 |  |  | 277 |
Anti-dilutive Options and Awards (a) | 1 |  |  | 11 |  |  | 1 |  |  | 12 |
_______________ (a)These options and awards were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive. For 2020, the dilutive impact of all outstanding options and awards were excluded from dilutive shares as a result of the Company's net loss for the period. Shareholders’ Equity (Deficit) Common Stock Share Repurchases In March 2021, the Company's Board of Directors authorized a new $500 million share repurchase plan, which replaced the $79 million remaining under the March 2018 repurchase program. Pursuant to the Board's authorization, the Company entered into a Rule 10b5-1 purchase plan to effectuate share repurchases for the first $250 million. In May 2021, the Company initiated a second $250 million Rule 10b5-1 purchase plan to effectuate the remaining share repurchases under the March 2021 repurchase plan. In July 2021, the Company's Board of Directors authorized a new $1.5 billion share repurchase program, which replaced the $36 million remaining under the March 2021 repurchase program. Under the authorization of this program, the Company entered into a stock repurchase agreement with its former Chief Executive Officer and certain of his affiliated entities pursuant to which the Company repurchased 10 million shares of its common stock for an aggregate purchase price of $730 million in July 2021. The Company repurchased the following shares of its common stock during year-to-date 2021:
Repurchase Program |  | Amount Authorized |  | Shares Repurchased |  | Amount Repurchased |  | Average Stock Price |  |  |  |
|  | (in millions) |  | (in thousands) |  | (in millions) |  |  |  |  |  |
March 2021 |  | $ | 500 |  |  | 6,996 |  |  | $ | 464 |  |  | $ | 66.30 |  |  |  |  |
July 2021 |  | $ | 1,500 |  |  | 10,000 |  |  | $ | 730 |  |  | $ | 73.01 |  |  |  |  |
The July 2021 Program had $770 million remaining as of July 31, 2021. Subsequent to July 31, 2021, the Company repurchased an additional 1.0 million shares of its common stock for $65 million under the July 2021 Program. Common Stock Retirement In accordance with the Company's Board of Directors' resolution, shares of common stock repurchased under the July 2021 Program will be automatically retired and cancelled upon repurchase. As a result, the Company retired the 10 million shares repurchased under the July 2021 Program in the second quarter of 2021, which resulted in a reduction of $5 million in the par value of Common Stock, $32 million in Paid-in Capital and $693 million in Retained Earnings. Dividends Under the authority and declaration of the Board of Directors, the Company paid the following dividends during year-to-date 2021 and 2020:
|  | Ordinary Dividends |  |  |  |  |  | Total Paid
|  | (per share) |  | (in millions)
2021 |  |  |  |  |  |  |  |
Second Quarter |  | $ | 0.15 |  |  |  |  |  |  | $ | 42 |
First Quarter |  | — |  |  |  |  |  |  | — |
Total |  | $ | 0.15 |  |  |  |  |  |  | $ | 42 |
2020 |  |  |  |  |  |  |  |
Second Quarter |  | $ | — |  |  |  |  |  |  | $ | — |
First Quarter |  | 0.30 |  |  |  |  |  |  | 83 |
Total |  | $ | 0.30 |  |  |  |  |  |  | $ | 83 |
The Board of Directors suspended the quarterly cash dividend beginning in the second quarter of 2020 as a proactive measure to strengthen the Company's financial flexibility and manage through the COVID-19 pandemic. In March 2021, the Company's Board of Directors reinstated the annual dividend at $0.60 per share, beginning with the quarterly dividend paid in June 2021. In August 2021, the Company's Board of Directors declared the third quarter of 2021 ordinary dividend of $0.15 per share.

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- Definition Earnings Per Share And Shareholders Equity [Abstract] + References No definition available. + Details
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- Definition Stockholders Equity and Earnings Per Share. The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. Also includes the entire disclosure for earnings per share. + References No definition available. + Details
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