Annual report pursuant to Section 13 and 15(d)

Earnings (Loss) Per Share

v3.21.1
Earnings (Loss) Per Share
12 Months Ended
Jan. 30, 2021
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share

 

15.

Earnings (Loss) Per Share Attributable to Macy's, Inc. Shareholders

The following table sets forth the computation of basic and diluted earnings (loss) per share attributable to Macy's, Inc. shareholders:

 

 

 

2020

 

 

2019

 

 

2018

 

 

 

Net

Loss

 

 

 

 

 

 

Shares

 

 

Net

Income

 

 

 

 

 

 

Shares

 

 

Net

Income

 

 

 

 

 

 

Shares

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(millions, except per share data)

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to Macy's, Inc.

   Shareholders and average number of

   shares outstanding

 

$

(3,944

)

 

 

 

 

 

 

310.2

 

 

$

564

 

 

 

 

 

 

 

308.8

 

 

$

1,108

 

 

 

 

 

 

 

306.8

 

Shares to be issued under deferred

   compensation and other plans

 

 

 

 

 

 

 

 

 

1

 

 

 

 

 

 

 

 

 

 

0.9

 

 

 

 

 

 

 

 

 

 

0.9

 

 

 

$

(3,944

)

 

 

 

 

 

 

311.1

 

 

$

564

 

 

 

 

 

 

 

309.7

 

 

$

1,108

 

 

 

 

 

 

 

307.7

 

Basic earnings (loss) per share attributable

   to Macy's,Inc. shareholders

 

 

 

 

 

$

(12.68

)

 

 

 

 

 

 

 

 

 

$

1.82

 

 

 

 

 

 

 

 

 

 

$

3.60

 

 

 

 

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock options and restricted stock units

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1.7

 

 

 

 

 

 

 

 

 

 

3.7

 

 

 

$

(3,944

)

 

 

 

 

 

 

311.1

 

 

$

564

 

 

 

 

 

 

 

311.4

 

 

$

1,108

 

 

 

 

 

 

 

311.4

 

Diluted earnings (loss) per share attributable

   to Macy's, Inc. shareholders

 

 

 

 

 

$

(12.68

)

 

 

 

 

 

 

 

 

 

$

1.81

 

 

 

 

 

 

 

 

 

 

$

3.56

 

 

 

 

 

 

For 2020, as a result of the net loss, all options and restricted stock units have been excluded from the calculation of diluted earnings per share and, therefore, there was no difference in the weighted average number of common shares for basic and diluted loss per share as the effect of all potentially dilutive shares outstanding was anti-dilutive.  Stock options to purchase 16.3 million shares of common stock and restricted stock units relating to 10.3 million shares of common stock outstanding at January 30, 2021, were excluded from the computation of diluted earnings per share.

In addition to the stock options and restricted stock units in the foregoing table, stock options to purchase 18.5 million shares of common stock and restricted stock units relating to 1.7 million shares of common stock were outstanding at February 1, 2020, and stock options to purchase 15.3 million of shares of common stock and restricted stock units relating to 0.9 million shares of common stock were outstanding at February 2, 2019, but were not included in the computation of diluted earnings per share attributable to Macy's, Inc. shareholders for 2019 or 2018, respectively, because their inclusion would have been antidilutive or they were subject to performance conditions that had not been met.