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Net Income Per Share and Shareholders’ Equity (Deficit) | 9 Months Ended
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Oct. 28, 2023
Net Income Per Share and Shareholders’ Equity (Deficit) [Abstract] |
Earnings Per Share and Shareholders’ Equity (Deficit) | Net Income Per Share and Shareholders’ Equity (Deficit) Net Income Per Share Net Income per Basic Share is computed based on the weighted-average number of common shares outstanding. Net Income per Diluted Share includes the weighted-average effect of dilutive restricted share units, performance share units and stock options (collectively, “Dilutive Awards”) on the weighted-average common shares outstanding. The following table provides the weighted-average shares utilized for the calculation of Net Income per Basic and Diluted Share for the third quarters of and year-to-date 2023 and 2022:
| Third Quarter |  | Year-to-Date
| 2023 |  | 2022 |  | 2023 |  | 2022
| (in millions)
Common Shares | 242 |  |  | 243 |  |  | 243 |  |  | 248 |
Treasury Shares | (15) |  |  | (15) |  |  | (15) |  |  | (15) |
Basic Shares | 227 |  |  | 228 |  |  | 228 |  |  | 233 |
Effect of Dilutive Awards | 1 |  |  | 1 |  |  | 1 |  |  | 2 |
Diluted Shares | 228 |  |  | 229 |  |  | 229 |  |  | 235 |
Anti-dilutive Awards (a) | — |  |  | 1 |  |  | 1 |  |  | 1 |
_______________ (a)These awards were excluded from the calculation of Net Income per Diluted Share because their inclusion would have been anti-dilutive. Common Stock Repurchases 2022 Share Repurchase Program In February 2022, the Company’s Board of Directors authorized a $1.5 billion share repurchase program (the “February 2022 Program”). Under the February 2022 Program, the Company repurchased the following shares of its common stock during year-to-date 2023:
Repurchase Program | Amount Authorized |  | Shares Repurchased |  | Amount Repurchased |  | Average Stock Price |  |  |  |
| (in millions) |  | (in thousands) |  | (in millions) |  |  |  |  |  |
February 2022 | $ | 1,500 |  |  | 2,765 |  |  | $ | 100 |  |  | $ | 36.16 |  |  |  |  |
The February 2022 Program had $88 million of remaining authority as of October 28, 2023. There were share repurchases of $1 million reflected in Accounts Payable on the October 28, 2023 Consolidated Balance Sheet. Subsequent to October 28, 2023 through December 1, 2023, the Company repurchased an additional 569 thousand shares of its common stock for $17 million under the February 2022 Program. Common Stock Retirement Shares of common stock repurchased under the February 2022 Program are retired and cancelled upon repurchase. As a result, the Company retired the 2,765 thousand shares repurchased under the February 2022 Program during year-to-date 2023, which resulted in reductions of $2 million in the par value of Common Stock, $8 million in Paid-in Capital and $90 million in Retained Earnings (Accumulated Deficit). Dividends The Company paid the following dividends during year-to-date 2023 and 2022:
| Ordinary Dividends |  | Total Paid
| (per share) | (in millions)
2023 |  |  |
First Quarter | $ | 0.20 |  |  | $ | 46 |
Second Quarter | 0.20 |  |  | 46 |
Third Quarter | 0.20 |  |  | 45 |
Total | $ | 0.60 |  |  | $ | 137 |
2022 |  |  |
First Quarter | $ | 0.20 |  |  | $ | 48 |
Second Quarter | 0.20 |  |  | 46 |
Third Quarter | 0.20 |  |  | 46 |
Total | $ | 0.60 |  |  | $ | 140 |
In November 2023, the Company declared the fourth quarter 2023 ordinary dividend of $0.20 per share payable on December 1, 2023 to stockholders of record at the close of business on November 17, 2023.

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- Definition Net Income Per Share and Shareholders’ Equity (Deficit). 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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