Core & Main (CNM) 10-Q4 Sep 242024 Q2 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	6 Months Ended
Cover - shares	Jul. 28, 2024	Aug. 30, 2024
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 28, 2024
Document Transition Report	false
Entity File Number	001-40650
Entity Registrant Name	Core & Main, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	86-3149194
Entity Address, Address Line One	1830 Craig Park Court
Entity Address, City or Town	St. Louis
Entity Address, State or Province	MO
Entity Address, Postal Zip Code	63146
City Area Code	314
Local Phone Number	432-4700
Title of 12(b) Security	Class A common stock, par value $0.01 per share
Trading Symbol	CNM
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001856525
Current Fiscal Year End Date	--02-05
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		192,647,223
Class B Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		8,483,709

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jul. 28, 2024	Jan. 28, 2024
Current assets:
Cash and cash equivalents	$ 13	$ 1
Receivables, net of allowance for credit losses of $18 and $12, respectively	1,294	973
Inventories	959	766
Prepaid expenses and other current assets	52	33
Total current assets	2,318	1,773
Property, plant and equipment, net	163	151
Operating lease right-of-use assets	206	192
Intangible assets, net	954	784
Goodwill	1,843	1,561
Deferred Income Tax Assets, Net	559	542
Other assets	55	66
Total assets	6,098	5,069
Current liabilities:
Current maturities of long-term debt	23	15
Accounts payable	738	504
Accrued compensation and benefits	80	106
Current operating lease liabilities	61	55
Other current liabilities	110	94
Total current liabilities	1,012	774
Long-term debt	2,404	1,863
Non-current operating lease liabilities	146	138
Deferred income taxes	84	48
TaxBenefitArrangementPayableNoncurrent	701	706
Other liabilities	31	16
Total liabilities	4,378	3,545
Commitments and contingencies
Additional paid-in capital	1,225	1,214
Retained earnings	385	189
Accumulated other comprehensive income	32	46
Total stockholders’ equity attributable to Core & Main, Inc.	1,644	1,451
Non-controlling interests	76	73
Total stockholders’ equity	1,720	1,524
Total liabilities and stockholders’ equity	6,098	5,069
Class A Common Stock
Current liabilities:
Common stock	2	2
Class B Common Stock
Current liabilities:
Common stock	$ 0	$ 0

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jul. 28, 2024	Jan. 28, 2024
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 18	$ 12
Class A Common Stock
Common stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, issued (in shares)	192,642,689	191,663,608
Common stock, outstanding (in shares)	192,642,689	191,663,608
Class B Common Stock
Common stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	500,000,000	500,000,000
Common stock, issued (in shares)	8,483,709	9,630,186
Common stock, outstanding (in shares)	8,483,709	9,630,186

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 28, 2024	Jul. 30, 2023	Jul. 28, 2024	Jul. 30, 2023
Income Statement [Abstract]
Net sales	$ 1,964	$ 1,861	$ 3,705	$ 3,435
Cost of sales	1,446	1,360	2,719	2,495
Gross profit	518	501	986	940
Operating expenses:
Selling, general and administrative	268	238	525	461
Depreciation and amortization	46	37	89	72
Total operating expenses	314	275	614	533
Operating income	204	226	372	407
Interest expense	36	22	70	39
Income before provision for income taxes	168	204	302	368
Provision for income taxes	42	40	75	71
Net income	126	164	227	297
Less: net income attributable to non-controlling interests	7	54	13	101
Net income attributable to Core & Main, Inc.	$ 119	$ 110	$ 214	$ 196
Earnings per share:
Basic (in dollars per share)	$ 0.62	$ 0.66	$ 1.11	$ 1.16
Diluted (in dollars per share)	$ 0.61	$ 0.66	$ 1.11	$ 1.15
Basic (shares)	192,797,961	167,312,292	192,495,255	169,474,741
Diluted (shares)	202,667,354	228,983,281	202,640,993	236,375,917

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 28, 2024	Jul. 30, 2023	Jul. 28, 2024	Jul. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 126	$ 164	$ 227	$ 297
Net interest rate swap (loss) gain, net of tax benefit (expense) of $11, $(1), $5 and $—, respectively	(33)	8	(15)	0
Total comprehensive income	93	172	212	297
Less: comprehensive income attributable to non-controlling interests	5	56	12	100
Total comprehensive income attributable to Core & Main, Inc.	$ 88	$ 116	$ 200	$ 197

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 28, 2024	Jul. 30, 2023	Jul. 28, 2024	Jul. 30, 2023
Statement of Comprehensive Income [Abstract]
Tax expense	$ 11	$ (1)	$ 5	$ 0

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Partners' Capital/Stockholders' Equity - USD ($)	Total	Additional Paid In Capital	Accumulated Other Comprehensive Income	Retained Earnings	Non-Controlling Interests	Class A Common Stock	Class A Common Stock Common Stock	Class B Common Stock Common Stock
Beginning balance (in shares) at Jan. 29, 2023							172,765,161	73,229,675
Beginning balance at Jan. 29, 2023	$ 2,410,000,000	$ 1,241,000,000	$ 45,000,000	$ 458,000,000	$ 663,000,000		$ 2,000,000	$ 1,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	133,000,000			86,000,000	47,000,000
Equity-based compensation	2,000,000	1,000,000			1,000,000
Net interest rate swap gain, net of tax	(8,000,000)		(5,000,000)		(3,000,000)
Distributions to non-controlling interest holders	(17,000,000)				(17,000,000)
Repurchase and Retirement of Class A and Class B shares and corresponding Partnership Interest (in shares)							(9,377,183)	(5,622,817)
Repurchase and Retirement of Class A and Class B shares and corresponding Partnership Interest	(332,000,000)	(83,000,000)		(141,000,000)	(108,000,000)
Exchange of Partnership Interests and Class B Shares for Class A Shares (in shares)							2,325,080	2,325,080
Exchange of Partnership Interests and Class B Shares for Class A Shares	0	18,000,000	1,000,000		(19,000,000)
Establishment/adjustment of deferred tax asset associated with Core & Main investment in Core & Main Holdings, LP	18,000,000	18,000,000
Establishment of Tax Receivable Agreement liabilities	(14,000,000)	(14,000,000)
Activity under equity-based compensation plans, net of tax withholdings (in shares)							93,460
Activity under equity-based compensation plans, net of tax withholdings	0	0
Ending balance (in shares) at Apr. 30, 2023							165,806,518	65,281,778
Ending balance at Apr. 30, 2023	2,192,000,000	1,181,000,000	41,000,000	403,000,000	564,000,000		$ 2,000,000	$ 1,000,000
Beginning balance (in shares) at Jan. 29, 2023							172,765,161	73,229,675
Beginning balance at Jan. 29, 2023	2,410,000,000	1,241,000,000	45,000,000	458,000,000	663,000,000		$ 2,000,000	$ 1,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	297,000,000
Net interest rate swap gain, net of tax	0
Ending balance (in shares) at Jul. 30, 2023							168,590,990	57,634,013
Ending balance at Jul. 30, 2023	2,213,000,000	1,196,000,000	49,000,000	447,000,000	518,000,000		$ 2,000,000	$ 1,000,000
Beginning balance (in shares) at Apr. 30, 2023							165,806,518	65,281,778
Beginning balance at Apr. 30, 2023	2,192,000,000	1,181,000,000	41,000,000	403,000,000	564,000,000		$ 2,000,000	$ 1,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	164,000,000			110,000,000	54,000,000
Equity-based compensation	3,000,000	2,000,000			1,000,000
Net interest rate swap gain, net of tax	8,000,000		6,000,000		2,000,000
Distributions to non-controlling interest holders	(12,000,000)	(2,000,000)			(10,000,000)
Repurchase and Retirement of Class A and Class B shares and corresponding Partnership Interest (in shares)							(3,125,728)	(1,874,272)
Repurchase and Retirement of Class A and Class B shares and corresponding Partnership Interest	(141,000,000)	(32,000,000)		(66,000,000)	(43,000,000)
Exchange of Partnership Interests and Class B Shares for Class A Shares (in shares)							5,770,323	5,773,493
Exchange of Partnership Interests and Class B Shares for Class A Shares	0	48,000,000	2,000,000		(50,000,000)
Establishment/adjustment of deferred tax asset associated with Core & Main investment in Core & Main Holdings, LP	45,000,000	45,000,000
Establishment of Tax Receivable Agreement liabilities	(47,000,000)	(47,000,000)
Activity under equity-based compensation plans, net of tax withholdings (in shares)							139,877
Activity under equity-based compensation plans, net of tax withholdings	1,000,000	1,000,000
Ending balance (in shares) at Jul. 30, 2023							168,590,990	57,634,013
Ending balance at Jul. 30, 2023	2,213,000,000	1,196,000,000	49,000,000	447,000,000	518,000,000		$ 2,000,000	$ 1,000,000
Beginning balance (in shares) at Jan. 28, 2024							191,663,608	9,630,186
Beginning balance at Jan. 28, 2024	1,524,000,000	1,214,000,000	46,000,000	189,000,000	73,000,000		$ 2,000,000	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	101,000,000			95,000,000	6,000,000
Equity-based compensation	3,000,000	3,000,000
Net interest rate swap gain, net of tax	18,000,000		17,000,000		1,000,000
Distributions to non-controlling interest holders	(4,000,000)	(2,000,000)			(2,000,000)
Exchange of Partnership Interests and Class B Shares for Class A Shares (in shares)							812,612	816,654
Exchange of Partnership Interests and Class B Shares for Class A Shares	0	4,000,000			(4,000,000)
Establishment/adjustment of deferred tax asset associated with Core & Main investment in Core & Main Holdings, LP	13,000,000	13,000,000
Establishment of Tax Receivable Agreement liabilities	(10,000,000)	(10,000,000)
Tax withholdings under equity-based compensation plans	(2,000,000)	(2,000,000)
Share issuances under equity-based compensation plans, net of tax withholdings (shares)							158,097
Activity under equity-based compensation plans, net of tax withholdings	1,000,000	1,000,000
Ending balance (in shares) at Apr. 28, 2024							192,634,317	8,813,532
Ending balance at Apr. 28, 2024	1,644,000,000	1,221,000,000	63,000,000	284,000,000	74,000,000		$ 2,000,000	$ 0
Beginning balance (in shares) at Jan. 28, 2024							191,663,608	9,630,186
Beginning balance at Jan. 28, 2024	1,524,000,000	1,214,000,000	46,000,000	189,000,000	73,000,000		$ 2,000,000	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	227,000,000
Net interest rate swap gain, net of tax	(15,000,000)
Repurchase and Retirement of Class A and Class B shares and corresponding Partnership Interest (in shares)						(429,996)
Repurchase and Retirement of Class A and Class B shares and corresponding Partnership Interest	(21,000,000)
Ending balance (in shares) at Jul. 28, 2024							192,642,689	8,483,709
Ending balance at Jul. 28, 2024	1,720,000,000	1,225,000,000	32,000,000	385,000,000	76,000,000		$ 2,000,000	$ 0
Beginning balance (in shares) at Apr. 28, 2024							192,634,317	8,813,532
Beginning balance at Apr. 28, 2024	1,644,000,000	1,221,000,000	63,000,000	284,000,000	74,000,000		$ 2,000,000	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	126,000,000			119,000,000	7,000,000
Equity-based compensation	4,000,000	4,000,000
Net interest rate swap gain, net of tax	(33,000,000)		(31,000,000)		(2,000,000)
Distributions to non-controlling interest holders	(2,000,000)	(1,000,000)			(1,000,000)
Repurchase and Retirement of Class A and Class B shares and corresponding Partnership Interest (in shares)							(429,996)
Repurchase and Retirement of Class A and Class B shares and corresponding Partnership Interest	(21,000,000)	(3,000,000)		(18,000,000)
Exchange of Partnership Interests and Class B Shares for Class A Shares (in shares)							326,889	329,823
Exchange of Partnership Interests and Class B Shares for Class A Shares	0	2,000,000			(2,000,000)
Establishment/adjustment of deferred tax asset associated with Core & Main investment in Core & Main Holdings, LP	5,000,000	5,000,000
Establishment of Tax Receivable Agreement liabilities	(4,000,000)	(4,000,000)
Activity under equity-based compensation plans, net of tax withholdings (in shares)							111,479
Activity under equity-based compensation plans, net of tax withholdings	1,000,000	1,000,000
Ending balance (in shares) at Jul. 28, 2024							192,642,689	8,483,709
Ending balance at Jul. 28, 2024	$ 1,720,000,000	$ 1,225,000,000	$ 32,000,000	$ 385,000,000	$ 76,000,000		$ 2,000,000	$ 0

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jul. 28, 2024	Jul. 30, 2023
Cash Flows From Operating Activities:
Net income	$ 227	$ 297
Adjustments to reconcile net cash from operating activities:
Depreciation and amortization	95	75
Equity-based compensation expense	7	5
Deferred income tax expense	5	2
Other	7	3
Changes in assets and liabilities:
(Increase) decrease in receivables	(263)	(253)
(Increase) decrease in inventories	(105)	185
(Increase) decrease in other assets	(14)	0
Increase (decrease) in accounts payable	203	113
Increase (decrease) in accrued liabilities	(36)	(25)
Cash Flows From Investing Activities:
Capital expenditures	(16)	(15)
Acquisitions of businesses, net of cash acquired	(596)	(151)
Other	6	(2)
Cash Flows From Financing Activities:
Repurchase and retirement of equity interests	(21)	(473)
Distributions to non-controlling interest holders	(7)	(25)
Payments pursuant to Tax Receivable Agreements	(11)	(5)
Borrowings on asset-based revolving credit facility	605	235
Repayments on asset-based revolving credit facility	(785)	(120)
Issuance of long-term debt	750	0
Repayments of long-term debt	(11)	(8)
Payment of contingent consideration	(14)	0
Other	(2)	1
Net cash provided by operating activities	126	402
Net cash used in investing activities	(618)	(164)
Net cash provided by (used in) financing activities	504	(395)
Increase (decrease) in cash and cash equivalents	12	(157)
Cash and cash equivalents at the beginning of the period	1	177
Cash and cash equivalents at the end of the period	13	20
Cash paid for interest (excluding effects of interest rate swap)	95	59
Cash paid for taxes	$ 84	$ 61

Basis of Presentation & Descrip

Basis of Presentation & Description of Business	6 Months Ended
Basis of Presentation & Description of Business	Jul. 28, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation & Description of Business	BASIS OF PRESENTATION & DESCRIPTION OF BUSINESS Business and Organization Core & Main, Inc. (“Core & Main” and collectively with its subsidiaries, the “Company”) is a leader in advancing reliable infrastructure with local service, nationwide. As a leading specialized distributor with a focus on water, wastewater, storm drainage and fire protection products and related services, the Company provides solutions to municipalities, private water companies and professional contractors across municipal, non-residential and residential end markets, nationwide. The Company’s specialty products and services are used in the maintenance, repair, replacement, and construction of water and fire protection infrastructure. The Company reaches customers through a nationwide network of approximately 350 branches across 49 states. The Company’s products include pipes, valves, fittings, storm drainage products, fire protection products, meter products and other products. The Company has complemented its core products through additional offerings, including smart meter systems, fusible high-density polyethylene (“fusible HDPE”) piping solutions, specifically engineered treatment plant products and geosynthetics and erosion control products. The Company’s services and capabilities allow for integration with customers and form part of their sourcing and procurement function. All of the Company’s long-lived assets are located within the United States (“U.S.”). Core & Main is a holding company that indirectly owns Core & Main LP through its ownership interest in Core & Main Holdings, LP (“Holdings”). Core & Main’s primary material assets are its direct and indirect ownership interest in Holdings and deferred tax assets associated with such ownership. Secondary Offerings and Repurchase Transactions On June 12, 2024, the Company’s board of directors authorized a share repurchase program (the “Repurchase Program”), pursuant to which the Company may purchase up to $500 million of the Company’s Class A common stock. Shares repurchased under the Repurchase Program are retired immediately and are accounted for as a decrease to stockholders’ equity. For the six months ended July 28, 2024 the Company repurchased 429,996 shares of Class A common stock for a total of $21 million through open market transactions. During the fiscal year ended January 28, 2024 (“fiscal 2023”), secondary public offerings of Class A common stock were completed by certain selling stockholders (the “Selling Stockholders”) affiliated with Clayton, Dubilier & Rice, LLC (“CD&R”). As part of the secondary public offerings the Selling Stockholders sold to the public (i) existing shares of our Class A common stock and (ii) shares of Class A common stock received in exchange for an equal number of limited partner interests of Holdings (“Partnership Interests”), together with the retirement of a corresponding number of shares of our Class B common stock. Below is a summary of the secondary public offerings completed during fiscal 2023 (the “Secondary Offerings”). Secondary Offering Date Existing Shares of Class A Common Stock Sold to the Public Partnership Interests Exchanged for Class A Common Stock Prior to Sale to the Public Shares of Class A Common Stock Sold to the Public Price Per Share January 25, 2024 12,366,683 7,415,404 19,782,087 $40.985 January 10, 2024 (1) 12,084,902 7,465,098 19,550,000 $38.120 December 11, 2023 (1) 10,783,760 6,466,240 17,250,000 $35.540 November 9, 2023 (1) 13,659,431 8,190,569 21,850,000 $30.440 September 19, 2023 11,252,620 6,747,380 18,000,000 $29.015 June 12, 2023 8,752,038 5,247,962 14,000,000 $28.215 April 14, 2023 3,125,728 1,874,272 5,000,000 $22.151 (1) Includes shares of Class A common stock purchased by the underwriter, pursuant to the exercise in full of the option granted in connection with the secondary public offering. The Company did not receive any of the proceeds from the Secondary Offerings. The Company paid the costs associated with the sale of shares by the Selling Stockholders in the Secondary Offerings, other than underwriting discounts and commissions. Concurrently with the completion of the Secondary Offerings during fiscal 2023, (i) the Company repurchased from the Selling Stockholders shares of our Class A common stock, and Holdings redeemed from the Company a corresponding number of Partnership Interests, and (ii) Holdings redeemed from one of the Selling Stockholders Partnership Interests, with the Company repurchasing a corresponding number of shares of our Class B common stock from such Selling Stockholder for no additional consideration. Below is a summary of the repurchase transactions completed during fiscal 2023 (the “Repurchase Transactions”). Repurchase Transaction Date Shares of Class A Common Stock Repurchased Partnership Interests Redeemed Total Repurchase Amount Price Per Share/Partnership Interest Total Consideration Paid (in millions) January 25, 2024 3,125,728 1,874,272 5,000,000 $40.985 $205 January 10, 2024 3,125,728 1,874,272 5,000,000 $38.120 $191 December 11, 2023 3,125,728 1,874,272 5,000,000 $35.540 $178 November 9, 2023 3,125,728 1,874,272 5,000,000 $30.440 $152 September 19, 2023 3,125,728 1,874,272 5,000,000 $29.015 $145 June 12, 2023 3,125,728 1,874,272 5,000,000 $28.215 $141 April 14, 2023 9,377,183 5,622,817 15,000,000 $22.151 $332 Shareholder Ownership The shareholder ownership as of July 28, 2024 includes the following: • the shareholders of Core & Main, excluding Core & Main Management Feeder, LLC (“Management Feeder”), collectively held 192,642,143 shares of Class A common stock; • Core & Main, directly or indirectly through our wholly-owned subsidiary, held 192,642,689 Partnership Interests; and • Management Feeder held 546 shares of Class A common stock, 8,483,709 Partnership Interests and 8,483,709 shares of Class B common stock. Following the completion of the Secondary Offerings and the Repurchase Transactions during fiscal 2023 investors affiliated with CD&R no longer own shares of Core & Main. Basis of Presentation The accompanying unaudited condensed consolidated financial statements present the results of operations, financial position and cash flows of Core & Main and its subsidiaries, which includes the consolidated financial statements of Holdings and its consolidated subsidiary, Core & Main LP, as the legal entity that conducts the operations of the Company. All intercompany balances and transactions have been eliminated in consolidation. The Company records non-controlling interests related to Partnership Interests held by Management Feeder in Holdings. In management’s opinion, the unaudited condensed consolidated financial information for the interim periods presented include all normal recurring adjustments necessary for a fair statement of the Company's results of operations, financial position and cash flows, which include all disclosures required by accounting principles generally accepted in the United States of America (“U.S. GAAP”). Revenues, expenses, assets and liabilities can vary during each quarter of the year. Therefore, the results and trends in these interim unaudited condensed consolidated financial statements may not be the same as those for the full year. The January 28, 2024 condensed consolidated Balance Sheet was derived from audited financial statements as of that date, but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes thereto as of and for the fiscal year ended January 28, 2024 included in our 2023 Annual Report on Form 10-K. Fiscal Year The Company’s fiscal year is a 52- or 53-week period ending on the Sunday nearest to January 31 st . Quarters within the fiscal year include 13-week periods, unless a fiscal year includes a 53 rd week, in which case the fourth quarter of the fiscal year will be a 14-week period. Each of the three months ended July 28, 2024 and three months ended July 30, 2023 included 13 weeks and each of the six months ended July 28, 2024 and six months ended July 30, 2023 included 26 weeks. The current fiscal year ending February 2, 2025 (“fiscal 2024”) will include 53 weeks. Estimates Management has made a number of estimates and assumptions relating to the reporting of certain assets and liabilities, the disclosure of contingent assets and liabilities, and the reported amounts of revenues and expenses in preparing the elements of these financial statements in conformity with U.S. GAAP. Actual results could differ from these estimates. Accounting Policies The Company’s significant accounting policies are discussed in Note 2 to the audited consolidated financial statements in our 2023 Annual Report on Form 10-K. There have been no significant changes to these policies which have had a material impact on the Company’s unaudited condensed consolidated financial statements and related notes during the three and six months ended July 28, 2024.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
Recent Accounting Pronouncements	Jul. 28, 2024
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	RECENT ACCOUNTING PRONOUNCEMENTS Segment Reporting - In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”). The new guidance expands reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 requires disclosure of (i) significant segment expenses that are regularly provided to the segment’s chief operating decision maker (“CODM”) and included within the segment measure of profit or loss, (ii) an amount and description of its composition for other segment items to reconcile to segment profit or loss, and (iii) the title and position of the Company’s CODM. The ASU does not change how a public entity identifies its operating segments, aggregates them, or applies the quantitative thresholds to determine its reportable segments. ASU 2023-07 is effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The adoption of ASU 2023-07 is expected to result in additional disclosures, but not have a material impact on the consolidated financial statements. Income Tax Disclosures - In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”). The new guidance requires, on an annual basis, disclosure of specific categories in the rate reconciliation and disclosure of income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for annual periods beginning after December 15, 2024. The adoption of ASU 2023-09 is expected to result in additional disclosures, but not have a material impact on the consolidated financial statements.

Revenue

Revenue	6 Months Ended
Revenue	Jul. 28, 2024
Revenue from Contract with Customer [Abstract]
Revenue	REVENUE Disaggregation of Revenue The following table represents net sales disaggregated by product category: Three Months Ended Six Months Ended Product Category July 28, 2024 July 30, 2023 July 28, 2024 July 30, 2023 Pipes, valves & fittings products $ 1,329 $ 1,283 $ 2,498 $ 2,357 Storm drainage products 306 278 559 493 Fire protection products 143 174 310 343 Meter products 186 126 338 242 Total net sales $ 1,964 $ 1,861 $ 3,705 $ 3,435

Acquisitions

Acquisitions	6 Months Ended
Acquisitions	Jul. 28, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions	ACQUISITIONS The Company made various acquisitions during the six months ended July 28, 2024 (the “Fiscal 2024 Acquisitions”) and the six months ended July 30, 2023 (the "Fiscal 2023 Acquisitions") with an aggregate transaction value of $623 million and $161 million, subject to working capital adjustments, respectively. These transactions were funded with cash and borrowings under the Senior Term Loan Credit Facility (as defined in Note 6 to the unaudited condensed consolidated financial statements included elsewhere in this Quarterly Report on Form 10-Q). Fiscal 2024 Acquisitions • On May 6, 2024, the Company acquired certain assets and assumed certain liabilities of Geothermal Supply Company Inc. (“GSC”). GSC has one location and is a distributor and fabricator of fusible HDPE pipe and other related products, primarily serving the geothermal, water and sewer industries. • On April 30, 2024, the Company acquired certain assets and assumed certain liabilities of EGW Utilities Inc. (“EGW”). EGW has one location and is a provider of underground utility infrastructure products and services. • On April 1, 2024, the Company acquired all of the outstanding shares of NW Geosynthetics Inc. (“ACF West”). ACF West has six locations and is a distributor of geosynthetic materials and provider of soil stabilization solutions. • On March 7, 2024, the Company acquired all of the membership interests of DKC Group Holdings, LLC, and associated entities (collectively, “Dana Kepner”). Dana Kepner has twenty-one locations and is a distributor of water, wastewater, storm drainage, and geotextile products, along with specialty tools and accessories. • On February 12, 2024, the Company acquired certain assets and assumed certain liabilities of Eastern Supply Inc. and a related entity (collectively, “Eastern Supply”). Eastern Supply has two locations and is a distributor of a broad range of storm drainage products, with custom fabrication capabilities. Fiscal 2023 Acquisitions • On July 12, 2023, the Company acquired all of the outstanding shares of J.W. D’Angelo Company, Inc. (“D’Angelo”). D’Angelo has three locations and is a full-service provider of fire protection and waterworks products. • On July 10, 2023, the Company acquired certain assets and assumed certain liabilities of Foster Supply Inc. and R.P. Foster Inc. (collectively, “Foster Supply”). Foster Supply has seven locations and is a full-service provider of precast concrete structures, pipe, drainage materials and related geosynthetics products. • On April 17, 2023, the Company acquired certain assets and assumed certain liabilities of Midwest Pipe Supply Inc. (“Midwest Pipe”). Midwest Pipe has one location and is a distributor of drainage and waterworks products. • On April 10, 2023, the Company acquired certain assets and assumed certain liabilities of UPSCO Manufacturing & Distribution Company, UPSCO, Inc. and TMB Holdings, LLC (collectively, “UPSCO”). UPSCO is a provider of utility infrastructure products and services. • On March 6, 2023, the Company acquired certain assets and assumed certain liabilities of Landscape & Construction Supplies LLC (“Landscape & Construction Supplies”). Landscape & Construction Supplies has two locations and is a provider of geosynthetics products. The following table represents the preliminary allocation of the transaction price to the fair value of identifiable assets acquired and liabilities assumed in the Fiscal 2024 Acquisitions and final allocation of the transaction price to the fair value of identifiable assets acquired and liabilities assumed in the Fiscal 2023 Acquisitions. The allocations are preliminary for items including review of working capital balances and the completion of intangible asset valuations. Fiscal 2024 Acquisitions (1) Fiscal 2023 Acquisitions Cash $ 31 $ 5 Receivables 66 28 Inventories 91 38 Intangible assets 233 76 Goodwill 281 17 Property, plant and equipment 12 24 Operating lease right-of-use assets 12 7 Other assets, current and non-current 1 4 Total assets acquired 727 199 Accounts payable 30 9 Deferred income taxes 38 8 Operating lease liabilities, current and non-current 12 7 Deferred consideration 13 9 Other liabilities, current and non-current 7 7 Net assets acquired $ 627 $ 159 (1) Amounts include the preliminary purchase price allocation of Dana Kepner net assets of $257 million to goodwill, $184 million to intangible assets, $92 million to net working capital, $29 million to cash and $8 million to fixed assets. Additionally, includes a deferred income tax liability of $33 million for the Dana Kepner acquisition. The net outflow of cash in respect of the purchase of businesses is as follows: Fiscal 2024 Acquisitions Fiscal 2023 Acquisitions Net assets acquired $ 627 $ 159 Less: Working capital adjustment — (3) Less: Cash acquired in acquisition (31) (5) Total consideration, net of cash; investing cash outflow $ 596 $ 151 In the above transactions, to the extent applicable, the excess of purchase price over net tangible and intangible assets acquired resulted in goodwill, which represents the assembled workforce and anticipated long-term growth in new markets, customers and products. Goodwill of $195 million and $3 million associated with the Fiscal 2024 Acquisitions and Fiscal 2023 Acquisitions, respectively, are fully deductible by the Company for U.S. income tax purposes. Intangible Assets For the Fiscal 2024 Acquisitions and Fiscal 2023 Acquisitions, the intangible assets acquired consist of customer relationships and trademarks. The customer relationship intangible assets represent the value associated with those customer relationships in place at the date of each transaction included in the Fiscal 2024 Acquisitions and Fiscal 2023 Acquisitions. The Company valued the customer relationships using an excess earnings method including various inputs such as customer attrition rate, revenue growth rate, gross margin percentage and discount rate. Cash flows associated with the existing relationships are expected to diminish over time due to customer turnover. The Company reflected this expected diminishing cash flow through the utilization of an annual customer attrition rate assumption and in its method of amortization. The trademark intangible asset represents the value associated with the brand names in place at the date of the applicable closing. A summary of the intangible asset acquired and assumptions utilized in the valuation for the Fiscal 2024 Acquisitions and Fiscal 2023 Acquisitions is as follows: Intangible Asset Amount Weighted Average Amortization Period Weighted Average Discount Rate Weighted Average Attrition Rate Customer Relationships Fiscal 2024 Acquisitions (1) $ 230 10 years 13.4 % 12.5 % Fiscal 2023 Acquisitions 76 10 years 16.2 % 12.6 % Trademark Fiscal 2024 Acquisitions $ 3 5 years 13.0 % N/A (1) Customer relationships acquired and assumptions utilized in the valuation for the Dana Kepner acquisition were as follows: $181 million customer relationship intangible asset, 10 years amortization period, 13.0% discount rate and 12.5% attrition rate. Pro Forma Financial Information The following pro forma information presents a summary of the results of operations for the periods indicated as if the Dana Kepner acquisition had been completed as of January 30, 2023. The pro forma financial information is based on the historical financial information for the Company and Dana Kepner, along with certain pro forma adjustments. These pro forma adjustments consist primarily of: • increased amortization and depreciation expense related to the intangible assets and fixed assets acquired, respectively, in the Dana Kepner acquisition; • increased interest expense to reflect the borrowings under the Senior Term Loan Credit Facility including the interest and amortization of deferred financing costs; • reclassification of direct acquisition transaction costs, retention bonuses and inventory fair value adjustments from the period incurred to periods these expenses would have been recognized given the assumed transaction date identified above; and • the related income tax effects of the aforementioned adjustments to the provision for income taxes for Core & Main. The following pro forma information has been prepared for comparative purposes only and is not necessarily indicative of the results of operations as they would have been had the Dana Kepner acquisition occurred on the assumed date, nor is it necessarily an indication of future operating results. In addition, the pro forma information does not reflect the cost of any integration activities, benefits from any synergies that may be derived from the Dana Kepner acquisition or revenue growth that may be anticipated. Three Months Ended Six Months Ended July 30, 2023 July 28, 2024 July 30, 2023 Net sales $ 1,956 $ 3,734 $ 3,604 Net income 164 228 292 As a result of integration of the Dana Kepner acquisition with existing operations of the Company it is impracticable to identify the discrete financial performance associated with the Dana Kepner acquisition. As such, the Company has not presented the post-acquisition net sales and net income for the Dana Kepner acquisition.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
Goodwill and Intangible Assets	Jul. 28, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	GOODWILL AND INTANGIBLE ASSETS Goodwill The carrying amount of the Company’s goodwill included in its Balance Sheets is as follows: July 28, 2024 January 28, 2024 Gross Goodwill $ 1,843 $ 1,561 Accumulated Impairment — — Net Goodwill $ 1,843 $ 1,561 The changes in the carrying amount of goodwill are as follows: Six Months Ended July 28, 2024 Beginning Balance $ 1,561 Goodwill acquired during the year 281 Goodwill adjusted during the year 1 Ending balance $ 1,843 Goodwill acquired during the six months ended July 28, 2024 was related to the Fiscal 2024 Acquisitions, as further described in Note 4. Goodwill represents the excess of purchase price over the fair value of net assets acquired. The Company does not amortize goodwill, but does assess the recoverability of goodwill on an annual basis during the fourth quarter. If an event occurs or circumstances change that would “more likely than not” reduce the fair value of a reporting unit below its carrying value, an interim impairment test would be performed between annual tests. Intangible Assets The Company’s intangible assets included in its Balance Sheets consist of the following: July 28, 2024 January 28, 2024 Gross Intangible Accumulated Amortization Net Intangible Gross Intangible Accumulated Amortization Net Intangible Customer relationships $ 1,726 $ 790 $ 936 $ 1,496 $ 718 $ 778 Other intangible assets 23 5 18 10 4 6 Total $ 1,749 $ 795 $ 954 $ 1,506 $ 722 $ 784 Amortization expense related to intangible assets was as follows: Three Months Ended Six Months Ended July 28, 2024 July 30, 2023 July 28, 2024 July 30, 2023 Amortization expense $ 38 $ 31 $ 73 $ 60 The estimated aggregate amortization expense on intangible assets owned by the Company for the remainder of fiscal 2024 and the next four full fiscal years is expected to be as follows: Fiscal 2024 $ 75 Fiscal 2025 141 Fiscal 2026 131 Fiscal 2027 123 Fiscal 2028 114

Debt

Debt	6 Months Ended
Debt	Jul. 28, 2024
Debt Disclosure [Abstract]
Debt	DEBT Debt consisted of the following: July 28, 2024 January 28, 2024 Principal Unamortized Discount and Debt Issuance Costs Principal Unamortized Discount and Debt Issuance Costs Current maturities of long-term debt: Senior Term Loan due July 2028 $ 15 $ — $ 15 $ — Senior Term Loan due February 2031 8 — — — 23 — 15 — Long-term debt: Senior ABL Credit Facility due February 2029 250 — 430 — Senior Term Loan due July 2028 1,440 14 1,448 15 Senior Term Loan due February 2031 739 11 — — 2,429 25 1,878 15 Total $ 2,452 $ 25 $ 1,893 $ 15 The Company’s debt obligations as of July 28, 2024 include the following debt agreements: Senior Term Loan Credit Facility On July 27, 2021, Core & Main LP entered into a Senior Term Loan Credit Facility (as defined herein) under which it can incur tranches of indebtedness. On May 21, 2024, Core & Main LP amended the terms of the $1,500 million senior term loan (as amended, the “2028 Senior Term Loan”), in order to reduce the effective applicable margin from 2.60% to 2.00%. The 2028 Senior Term Loan principal balance did not change, still matures on July 27, 2028 and requires quarterly principal payments on the last business day of each fiscal quarter in an amount equal to approximately 0.25% of the original principal amount. The remaining balance is payable upon final maturity of the 2028 Senior Term Loan on July 27, 2028. The 2028 Senior Term Loan bears interest at a rate equal to (i) term secured overnight financing rate (“Term SOFR”) plus, in each case, an effective applicable margin of 2.00% or (ii) the base rate, which will be the highest of (x) the corporate base rate established by the administrative agent as its prime rate in effect at its principal office in New York City from time to time, (y) the overnight federal funds rate plus 0.50% per annum and (z) one-month Term SOFR (adjusted for maximum reserves) plus 1.00% per annum, plus, in each case, an applicable margin of 1.50%. The 2028 Senior Term Loan is subject to a Term SOFR “floor” of 0.00%. The weighted average interest rate, excluding the effect of the interest rate swap, of Core & Main LP’s outstanding borrowings under the 2028 Senior Term Loan as of July 28, 2024 was 7.34%. See further discussion of the interest rate swap below. Based on quotes from financial institutions (i.e., level 2 of the fair value hierarchy), the fair value of the 2028 Senior Term Loan wa s $1,459 million as of July 28, 2024 . On February 9, 2024, Core & Main LP entered into an additional $750 million senior term loan, which matures on February 9, 2031 (the “2031 Senior Term Loan” and, together with the 2028 Senior Term Loan, the “Senior Term Loan Credit Facility”). The 2031 Senior Term Loan requires quarterly principal payments, payable on the last business day of each fiscal quarter in an amount equal to approximately 0.25% of the original principal amount of the 2031 Senior Term Loan. The remaining balance is payable upon final maturity of the 2031 Senior Term Loan on February 9, 2031. The 2031 Senior Term Loan bears interest at a rate equal to (i) Term SOFR plus, in each case, an applicable margin of 2.25% or (ii) an alternate base rate plus an applicable margin of 1.25%. The 2031 Senior Term Loan is subject to a Term SOFR “floor” of 0.00%. The weighted average interest rate, excluding the effect of the interest rate swap, of Core & Main LP’s outstanding borrowings under the 2031 Senior Term Loan as of July 28, 2024 was 7.59%. See further discussion of the interest rate swap below. Based on quotes from financial institutions (i.e., level 2 of the fair value hierarchy), the fair value of the 2031 Senior Term Loan wa s $750 million as of July 28, 2024 . Asset-Based Credit Facility On February 9, 2024, Core & Main LP amended the terms of the credit agreement governing its senior asset-based revolving credit facility (as amended, the “Senior ABL Credit Facility”) in order to, among other things, extend the maturity from July 27, 2026 to February 9, 2029 and amend the credit agreement governing the Senior ABL Credit Facility to the extent necessary or appropriate to reflect the extension of the amended maturity. The Senior ABL Credit Facility has a borrowing capacity of up to $1,250 million, subject to borrowing base availability. Borrowings under the Senior ABL Credit Facility bear interest at either a Term SOFR rate plus an applicable margin ranging from 1.25% to 1.75%, or an alternate base rate plus an applicable margin ranging from 0.25% to 0.75%, depending on the borrowing capacity under the Senior ABL Credit Facility. Additionally, Core & Main LP pays a fee of 0.25% on unfunded commitments under the Senior ABL Credit Facility. As of July 28, 2024 and January 28, 2024 there were $250 million and $430 million amounts outstanding, respectively, under the Senior ABL Credit Facility with a weighted average interest rate of 6.58% as of July 28, 2024. The aforementioned debt agreements include customary affirmative and negative covenants, which include, among other things, restrictions on Core & Main LP’s ability to make distributions, pay dividends, create liens, incur additional indebtedness, make investments, dispose of assets and merge or consolidate with any other person. The Senior Term Loan Credit Facility may require accelerated repayment based upon cash flows generated in excess of operating and investing requirements when the Consolidated Secured Leverage Ratio (as defined in the agreement governing the Senior Term Loan Credit Facility) is greater than or equal to 3.25. In addition, the Senior ABL Credit Facility requires Core & Main LP to comply with a consolidated fixed charge coverage ratio of greater than or equal to 1.00 when availability under the Senior ABL Credit Facility is less than 10.0% of the lesser of (i) the then applicable borrowing base or (ii) the then aggregate effective commitments. The Company was in compliance with all debt covenants as of July 28, 2024. Substantially all of Core & Main LP’s assets are pledged as collateral for the Senior Term Loan Credit Facility and the Senior ABL Credit Facility. The aggregate amount of debt payments for the remainder of fiscal 2024 and the next four full fiscal years are as follows: Fiscal 2024 $ 12 Fiscal 2025 23 Fiscal 2026 23 Fiscal 2027 23 Fiscal 2028 1,410 Interest Rate Swaps Core & Main LP entered into an instrument in which it makes payments to a third party based upon a fixed interest rate of 0.693% and receives payments based upon the one-month Term SOFR rate. The interest rate swap has a notional amount of $800 million as of July 28, 2024. The notional amount decreases to $700 million on July 27, 2025 through the instrument maturity on July 27, 2026. This instrument is intended to reduce the Company's exposure to variable interest rates under the Senior Term Loan Credit Facility. As of July 28, 2024, this instrument resulted in an effective fixed rate of 2.693%, based upon the 0.693% fixed rate plus an effective applicable margin of 2.00%. On February 12, 2024, Core & Main LP entered into an additional instrument pursuant to which it will make payments to a third party based upon a fixed interest rate of 3.913% and receive payments based upon the one-month Term SOFR rate. The interest rate swap has a starting notional amount of $750 million that increases to $1,500 million on July 27, 2026 through the instrument maturity on July 27, 2028. The instrument is intended to reduce the Company’s exposure to variable interest rates under the Senior Term Loan Credit Facility. As of July 28, 2024, this instrument resulted in an effective fixed rate of 6.163%, based upon the 3.913% fixed rate plus an effective applicable margin of 2.25%. The fair value of these cash flow interest rate swaps was a $54 million asset and a $7 million liability as of July 28, 2024, which is included within other assets and other current liabilities, respectively, in the Balance Sheet. The aggregate fair value of these cash flow interest rate swaps was a $67 million asset as of January 28, 2024, which is included within other assets in the Balance Sheet. Three Months Ended Six Months Ended Accumulated Other Comprehensive Income July 28, 2024 July 30, 2023 July 28, 2024 July 30, 2023 Beginning of period balance $ 66 $ 62 $ 48 $ 70 Measurement adjustment (loss) gain for interest rate swap (31) 20 6 21 Reclassification of (income) to interest expense (13) (11) (26) (21) Tax benefit (expense) on interest rate swap adjustments Measurement adjustment (loss) gain for interest rate swap 8 (4) (1) (4) Reclassification of (income) to interest expense 3 3 6 4 End of period balance $ 33 $ 70 $ 33 $ 70 The cash flows related to settlement of the interest rate swaps are classified in the consolidated statements of cash flows based on the nature of the underlying hedged items. Fair value is based upon the present value of future cash flows under the terms of the contract and observable market inputs (level 2). Significant inputs used in determining fair value include forward-looking one-month Term SOFR rates and the discount rate applied to projected cash flows. As of July 28, 2024, the Company estimates $39 million of the cash flow interest rate swap gains will be reclassified from accumulated other comprehensive income into earnings over the next 12 months.

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jul. 28, 2024
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES For the three months ended July 28, 2024 and July 30, 2023, the Company’s effective tax rate was 25.0% and 19.6%, respectively. For the six months ended July 28, 2024 and July 30, 2023, the Company's effective tax rate was 24.8% and 19.3%, respectively. The variation between the Company's estimated effective tax rate and the U.S. and state statutory rates for the three and six months ended July 30, 2023 is primarily due to the portion of the Company's earnings attributable to non-controlling interests. The effective tax rate for the three and six months ended July 28, 2024 increased primarily due to a substantial decrease in the non-controlling interest ownership that increased the allocation of net income to taxable entities. Tax Receivable Agreements The Company is party to a tax receivable agreement with certain stockholders affiliated with CD&R that transferred all of their Partnership Interests at the time of the initial public offering (the “Former Limited Partners Tax Receivable Agreement”) and a tax receivable agreement with certain stockholders affiliated with CD&R and Management Feeder that continued to own Partnership Interests beyond the time of the initial public offering (the “Continuing Limited Partners Tax Receivable Agreement”) (collectively, the “Tax Receivable Agreements”). The Company has generated tax attributes, and expects to generate additional tax attributes with future exchanges of Partnership Interests, that will reduce amounts that it would otherwise pay in the future to various tax authorities. The Tax Receivable Agreements provide payments to the parties subject to the Tax Receivable Agreements, or their permitted transferees, of 85% of the tax benefits realized by the Company, or in some circumstances are deemed to be realized. The Company recorded payables to related parties pursuant to the Tax Receivable Agreements of $720 million and $717 million as of July 28, 2024 and January 28, 2024, respectively. Payments under the Tax Receivable Agreements within the next 12 months are expected to be $19 million, which is included within other current liabilities in the Balance Sheet. The actual amount and timing of any payments under the Tax Receivable Agreements will vary depending upon a number of factors, including the timing of exchanges by the holders of Partnership Interests, the amount of gain recognized by such holders of Partnership Interests, the amount and timing of the taxable income the Company generates in the future and the federal tax rates then applicable. Assuming (i) that Management Feeder exchanged all of its remaining Partnership Interests at $53.53 per share of our Class A common stock (the closing stock price on July 26, 2024), (ii) no material changes in relevant tax law, (iii) a constant corporate tax rate of 25.1%, which represents a pro forma tax rate that includes a provision for U.S. federal income taxes and assumes the highest statutory rate apportioned to each state and local jurisdiction and (iv) that the Company earns sufficient taxable income in each year to realize on a current basis all tax benefits, the Company would recognize an additional deferred tax asset (subject to offset with existing deferred tax liabilities) of approximately $135 million and a liability of approximately $115 million, payable over the life of the Continuing Limited Partners Tax Receivable Agreement. The full exchange will also decrease Core & Main's aforementioned deferred tax asset associated with its investment in Holdings by $6 million. The foregoing amounts are estimates and subject to change.

Supplemental Financial Statemen

Supplemental Financial Statement Information	6 Months Ended
Supplemental Financial Statement Information	Jul. 28, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplemental Financial Statement Information	SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION Receivables Receivables consisted of the following: July 28, 2024 January 28, 2024 Trade receivables, net of allowance for credit losses $ 1,207 $ 888 Supplier rebate receivables 87 85 Receivables, net of allowance for credit losses $ 1,294 $ 973 Accrued Compensation and Benefits Accrued compensation and benefits consisted of the following: July 28, 2024 January 28, 2024 Accrued bonuses and commissions $ 56 $ 82 Other compensation and benefits 24 24 Accrued compensation and benefits $ 80 $ 106 Leases The table below presents cash and non-cash impacts associated with leases: Six Months Ended July 28, 2024 July 30, 2023 Operating cash flow payments for operating lease liabilities $ 31 $ 26 Operating cash flow payments for non-lease components 15 12 Right-of-use assets obtained in exchange for new operating lease liabilities $ 33 $ 29 The non-cash impact related to right-of-use assets obtained in exchange for new operating lease liabilities in the table above excludes the impact from acquisitions. Depreciation Expense Depreciation expense is classified within cost of sales and depreciation and amortization within the Statement of Operations. Depreciation expense related to property, plant and equipment, including capitalized software, was as follows: Three Months Ended Six Months Ended July 28, 2024 July 30, 2023 July 28, 2024 July 30, 2023 Depreciation expense $ 9 $ 7 $ 17 $ 13

Non-controlling Interests

Non-controlling Interests	6 Months Ended
Non-controlling Interests	Jul. 28, 2024
Noncontrolling Interest [Abstract]
Non-controlling Interests	NON-CONTROLLING INTERESTS Core & Main is the general partner of Holdings and operates and controls all of the business and affairs of Holdings and, through Holdings and its subsidiaries, conducts the Company's business. Accordingly, Core & Main consolidates the consolidated financial statements of Holdings and attributes a portion of net income and equity of Holdings to non-controlling interests related to the vested Partnership Interests not held by the Company. Income or loss is attributed to the non-controlling interests based on the weighted average percentage of Partnership Interests held by Management Feeder, excluding unvested Partnership Interests held, relative to all Partnership Interests of Holdings during the period. Holdings equity is attributed to non-controlling interests based on the Partnership Interests not held by the Company, excluding unvested Partnership Interests, relative to all Partnership Interests as of the balance sheet date. The non-controlling interests’ ownership percentage may fluctuate over time as Partnership Interests are exchanged, together with the retirement of a corresponding number of shares of Class B common stock, for shares of Class A common stock and Partnership Interests held by Management Feeder vest. The following table summarizes the ownership of Partnership Interests of Holdings (excluding unvested Partnership Interests held by Management Feeder): Partnership Interests Ownership Percentage Core & Main Management Feeder Total Core & Main Management Feeder Total Balances as of January 28, 2024 191,663,608 9,243,276 200,906,884 95.4 % 4.6 % 100.0 % Retirement of Partnership Interests (429,996) — (429,996) — — — Issuance of Partnership Interests 269,576 — 269,576 — — — Exchange of Partnership Interests 1,139,501 (1,146,477) (6,976) 0.6 (0.6) — Vesting of Partnership Interests — 159,749 159,749 (0.1) 0.1 — Balances as of July 28, 2024 192,642,689 8,256,548 200,899,237 95.9 % 4.1 % 100.0 %

Basic and Diluted Earnings Per

Basic and Diluted Earnings Per Share	6 Months Ended
Basic and Diluted Earnings Per Share	Jul. 28, 2024
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 the three and six months ended July 28, 2024 and July 30, 2023. Basic earnings per share is computed by dividing net income attributable to Core & Main for the period by the weighted average number of shares of Class A common stock outstanding during the same period. Shares of Class A common stock issued or redeemed 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 or losses 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 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 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. Three Months Ended Six Months Ended Basic earnings per share: July 28, 2024 July 30, 2023 July 28, 2024 July 30, 2023 Net income $ 126 $ 164 $ 227 $ 297 Net income attributable to non-controlling interests 7 54 13 101 Net income available to Class A common stock 119 110 214 196 Weighted average shares outstanding 192,797,961 167,312,292 192,495,255 169,474,741 Net income per share $ 0.62 $ 0.66 $ 1.11 $ 1.16 Diluted earnings per share: Net income available to common shareholders - basic $ 119 $ 110 $ 214 $ 196 Increase to net income attributable to dilutive instruments 5 40 10 75 Net income available to common shareholders - diluted 124 150 224 271 Weighted average shares outstanding - basic 192,797,961 167,312,292 192,495,255 169,474,741 Incremental shares of common stock attributable to dilutive instruments 9,869,393 61,670,989 10,145,738 66,901,176 Weighted average shares outstanding - diluted 202,667,354 228,983,281 202,640,993 236,375,917 Net income per share - diluted $ 0.61 $ 0.66 $ 1.11 $ 1.15

Related Parties

Related Parties	6 Months Ended
Related Parties	Jul. 28, 2024
Related Party Transactions [Abstract]
Related Parties	RELATED PARTIES The Company has entered into the Tax Receivable Agreements and the Exchange Agreement, dated as of July 22, 2021 (as amended, the “Exchange Agreement”) with related parties, that are discussed in Note 14 to the audited consolidated financial statements in our 2023 Annual Report on Form 10-K. There have been no significant changes to these related party agreements.

Subsequent Events

Subsequent Events	6 Months Ended
Subsequent Events	Jul. 28, 2024
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTSManagement has evaluated events or transactions that may have occurred that would merit recognition or disclosure in the condensed consolidated financial statements. No subsequent events were identified.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Jul. 28, 2024	Jul. 30, 2023	Jul. 28, 2024	Jul. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 119	$ 110	$ 214	$ 196

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
Insider Trading Arrangements	Jul. 28, 2024 shares	Jul. 28, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Laura K. Schneider [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		Laura K. Schneider, Chief Human Resources Officer, adopted a new trading arrangement on July 12, 2024 providing for the sale of up to 195,695 aggregate shares of the Company’s Class A common stock between October 11, 2024 and April 11, 2025.
Name	Laura K. Schneider
Title	Chief Human Resources Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	July 12, 2024
Arrangement Duration	182 days
Aggregate Available	195,695	195,695
Jeffrey D. Giles [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		Jeffrey D. Giles, EVP Corporate Development, adopted a new trading arrangement on July 11, 2024 providing for the sale of up to 25,000 aggregate shares of the Company’s Class A common stock between October 11, 2024 and April 11, 2025.
Name	Jeffrey D. Giles
Title	EVP Corporate Development
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	July 11, 2024
Arrangement Duration	182 days
Aggregate Available	25,000	25,000
Margaret M. Newman [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		Margaret M. Newman, Director, adopted a new trading arrangement on June 28, 2024 providing for the sale of up to 54,123 aggregate shares of the Company’s Class A common stock between September 27, 2024 and March 27, 2025.
Name	Margaret M. Newman
Title	Director
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	June 28, 2024
Arrangement Duration	181 days
Aggregate Available	54,123	54,123
Mark R. Witkowski [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		Mark R. Witkowski, Chief Financial Officer, adopted a new trading arrangement on July 11, 2024 providing for the sale of up to 150,000 aggregate shares of the Company’s Class A common stock between October 10, 2024 and April 10, 2025.
Name	Mark R. Witkowski
Title	Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	July 11, 2024
Arrangement Duration	182 days
Aggregate Available	150,000	150,000
Stephen O. LeCalair [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		Stephen O. LeClair, Chair of the Board and Chief Executive Officer, adopted a new trading arrangement on July 11, 2024 providing for the sale of up to 200,000 aggregate shares of the Company’s Class A common stock between October 11, 2024 and April 11, 2025.
Name	Stephen O. LeClair
Title	Chair of the Board and Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	July 11, 2024
Arrangement Duration	182 days
Aggregate Available	200,000	200,000

Basis of Presentation & Descr_2

Basis of Presentation & Description of Business (Policies)	6 Months Ended
Basis of Presentation & Description of Business (Policies)	Jul. 28, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation - Consolidation	The accompanying unaudited condensed consolidated financial statements present the results of operations, financial position and cash flows of Core & Main and its subsidiaries, which includes the consolidated financial statements of Holdings and its consolidated subsidiary, Core & Main LP, as the legal entity that conducts the operations of the Company. All intercompany balances and transactions have been eliminated in consolidation. The Company records non-controlling interests related to Partnership Interests held by Management Feeder in Holdings.
Basis of Presentation - Accounting	In management’s opinion, the unaudited condensed consolidated financial information for the interim periods presented include all normal recurring adjustments necessary for a fair statement of the Company's results of operations, financial position and cash flows, which include all disclosures required by accounting principles generally accepted in the United States of America (“U.S. GAAP”). Revenues, expenses, assets and liabilities can vary during each quarter of the year. Therefore, the results and trends in these interim unaudited condensed consolidated financial statements may not be the same as those for the full year. The January 28, 2024 condensed consolidated Balance Sheet was derived from audited financial statements as of that date, but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes thereto as of and for the fiscal year ended January 28, 2024 included in our 2023 Annual Report on Form 10-K.
Fiscal Year	Fiscal Year The Company’s fiscal year is a 52- or 53-week period ending on the Sunday nearest to January 31 st . Quarters within the fiscal year include 13-week periods, unless a fiscal year includes a 53 rd
Estimates	Estimates
Recent Accounting Pronouncements	RECENT ACCOUNTING PRONOUNCEMENTS Segment Reporting - In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”). The new guidance expands reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 requires disclosure of (i) significant segment expenses that are regularly provided to the segment’s chief operating decision maker (“CODM”) and included within the segment measure of profit or loss, (ii) an amount and description of its composition for other segment items to reconcile to segment profit or loss, and (iii) the title and position of the Company’s CODM. The ASU does not change how a public entity identifies its operating segments, aggregates them, or applies the quantitative thresholds to determine its reportable segments. ASU 2023-07 is effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The adoption of ASU 2023-07 is expected to result in additional disclosures, but not have a material impact on the consolidated financial statements. Income Tax Disclosures - In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”). The new guidance requires, on an annual basis, disclosure of specific categories in the rate reconciliation and disclosure of income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for annual periods beginning after December 15, 2024. The adoption of ASU 2023-09 is expected to result in additional disclosures, but not have a material impact on the consolidated financial statements.

Basis of Presentation & Descr_3

Basis of Presentation & Description of Business (Tables)	6 Months Ended
Basis of Presentation & Description of Business (Tables)	Jul. 28, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Sale of Stock by Subsidiary or Equity Method Investee Disclosure	Below is a summary of the secondary public offerings completed during fiscal 2023 (the “Secondary Offerings”). Secondary Offering Date Existing Shares of Class A Common Stock Sold to the Public Partnership Interests Exchanged for Class A Common Stock Prior to Sale to the Public Shares of Class A Common Stock Sold to the Public Price Per Share January 25, 2024 12,366,683 7,415,404 19,782,087 $40.985 January 10, 2024 (1) 12,084,902 7,465,098 19,550,000 $38.120 December 11, 2023 (1) 10,783,760 6,466,240 17,250,000 $35.540 November 9, 2023 (1) 13,659,431 8,190,569 21,850,000 $30.440 September 19, 2023 11,252,620 6,747,380 18,000,000 $29.015 June 12, 2023 8,752,038 5,247,962 14,000,000 $28.215 April 14, 2023 3,125,728 1,874,272 5,000,000 $22.151 (1) Includes shares of Class A common stock purchased by the underwriter, pursuant to the exercise in full of the option granted in connection with the secondary public offering. Repurchase Transaction Date Shares of Class A Common Stock Repurchased Partnership Interests Redeemed Total Repurchase Amount Price Per Share/Partnership Interest Total Consideration Paid (in millions) January 25, 2024 3,125,728 1,874,272 5,000,000 $40.985 $205 January 10, 2024 3,125,728 1,874,272 5,000,000 $38.120 $191 December 11, 2023 3,125,728 1,874,272 5,000,000 $35.540 $178 November 9, 2023 3,125,728 1,874,272 5,000,000 $30.440 $152 September 19, 2023 3,125,728 1,874,272 5,000,000 $29.015 $145 June 12, 2023 3,125,728 1,874,272 5,000,000 $28.215 $141 April 14, 2023 9,377,183 5,622,817 15,000,000 $22.151 $332

Revenue (Tables)

Revenue (Tables)	6 Months Ended
Revenue (Tables)	Jul. 28, 2024
Revenue from Contract with Customer [Abstract]
Schedule of net sales disaggregated by product category	The following table represents net sales disaggregated by product category: Three Months Ended Six Months Ended Product Category July 28, 2024 July 30, 2023 July 28, 2024 July 30, 2023 Pipes, valves & fittings products $ 1,329 $ 1,283 $ 2,498 $ 2,357 Storm drainage products 306 278 559 493 Fire protection products 143 174 310 343 Meter products 186 126 338 242 Total net sales $ 1,964 $ 1,861 $ 3,705 $ 3,435

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
Acquisitions (Tables)	Jul. 28, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of allocation of transaction price to the fair value of identifiable assets acquired and liabilities assumed	The following table represents the preliminary allocation of the transaction price to the fair value of identifiable assets acquired and liabilities assumed in the Fiscal 2024 Acquisitions and final allocation of the transaction price to the fair value of identifiable assets acquired and liabilities assumed in the Fiscal 2023 Acquisitions. The allocations are preliminary for items including review of working capital balances and the completion of intangible asset valuations. Fiscal 2024 Acquisitions (1) Fiscal 2023 Acquisitions Cash $ 31 $ 5 Receivables 66 28 Inventories 91 38 Intangible assets 233 76 Goodwill 281 17 Property, plant and equipment 12 24 Operating lease right-of-use assets 12 7 Other assets, current and non-current 1 4 Total assets acquired 727 199 Accounts payable 30 9 Deferred income taxes 38 8 Operating lease liabilities, current and non-current 12 7 Deferred consideration 13 9 Other liabilities, current and non-current 7 7 Net assets acquired $ 627 $ 159 (1) Amounts include the preliminary purchase price allocation of Dana Kepner net assets of $257 million to goodwill, $184 million to intangible assets, $92 million to net working capital, $29 million to cash and $8 million to fixed assets. Additionally, includes a deferred income tax liability of $33 million for the Dana Kepner acquisition.
Schedule of reconciliation of total consideration to net assets acquired	The net outflow of cash in respect of the purchase of businesses is as follows: Fiscal 2024 Acquisitions Fiscal 2023 Acquisitions Net assets acquired $ 627 $ 159 Less: Working capital adjustment — (3) Less: Cash acquired in acquisition (31) (5) Total consideration, net of cash; investing cash outflow $ 596 $ 151
Schedule of intangible assets acquired and assumptions utilized in the valuation	A summary of the intangible asset acquired and assumptions utilized in the valuation for the Fiscal 2024 Acquisitions and Fiscal 2023 Acquisitions is as follows: Intangible Asset Amount Weighted Average Amortization Period Weighted Average Discount Rate Weighted Average Attrition Rate Customer Relationships Fiscal 2024 Acquisitions (1) $ 230 10 years 13.4 % 12.5 % Fiscal 2023 Acquisitions 76 10 years 16.2 % 12.6 % Trademark Fiscal 2024 Acquisitions $ 3 5 years 13.0 % N/A
Schedule of pro forma information	The following pro forma information has been prepared for comparative purposes only and is not necessarily indicative of the results of operations as they would have been had the Dana Kepner acquisition occurred on the assumed date, nor is it necessarily an indication of future operating results. In addition, the pro forma information does not reflect the cost of any integration activities, benefits from any synergies that may be derived from the Dana Kepner acquisition or revenue growth that may be anticipated. Three Months Ended Six Months Ended July 30, 2023 July 28, 2024 July 30, 2023 Net sales $ 1,956 $ 3,734 $ 3,604 Net income 164 228 292

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
Goodwill and Intangible Assets (Tables)	Jul. 28, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of carrying amount of goodwill	The carrying amount of the Company’s goodwill included in its Balance Sheets is as follows: July 28, 2024 January 28, 2024 Gross Goodwill $ 1,843 $ 1,561 Accumulated Impairment — — Net Goodwill $ 1,843 $ 1,561 The changes in the carrying amount of goodwill are as follows: Six Months Ended July 28, 2024 Beginning Balance $ 1,561 Goodwill acquired during the year 281 Goodwill adjusted during the year 1 Ending balance $ 1,843
Schedule of net intangible assets	The Company’s intangible assets included in its Balance Sheets consist of the following: July 28, 2024 January 28, 2024 Gross Intangible Accumulated Amortization Net Intangible Gross Intangible Accumulated Amortization Net Intangible Customer relationships $ 1,726 $ 790 $ 936 $ 1,496 $ 718 $ 778 Other intangible assets 23 5 18 10 4 6 Total $ 1,749 $ 795 $ 954 $ 1,506 $ 722 $ 784
Schedule of amortization expense related to intangible assets	Amortization expense related to intangible assets was as follows: Three Months Ended Six Months Ended July 28, 2024 July 30, 2023 July 28, 2024 July 30, 2023 Amortization expense $ 38 $ 31 $ 73 $ 60
Schedule of estimated aggregate amortization expense on intangible assets	The estimated aggregate amortization expense on intangible assets owned by the Company for the remainder of fiscal 2024 and the next four full fiscal years is expected to be as follows: Fiscal 2024 $ 75 Fiscal 2025 141 Fiscal 2026 131 Fiscal 2027 123 Fiscal 2028 114

Debt (Tables)

Debt (Tables)	6 Months Ended
Debt (Tables)	Jul. 28, 2024
Debt Disclosure [Abstract]
Schedule of debt	Debt consisted of the following: July 28, 2024 January 28, 2024 Principal Unamortized Discount and Debt Issuance Costs Principal Unamortized Discount and Debt Issuance Costs Current maturities of long-term debt: Senior Term Loan due July 2028 $ 15 $ — $ 15 $ — Senior Term Loan due February 2031 8 — — — 23 — 15 — Long-term debt: Senior ABL Credit Facility due February 2029 250 — 430 — Senior Term Loan due July 2028 1,440 14 1,448 15 Senior Term Loan due February 2031 739 11 — — 2,429 25 1,878 15 Total $ 2,452 $ 25 $ 1,893 $ 15
Schedule of aggregate future debt payments	The aggregate amount of debt payments for the remainder of fiscal 2024 and the next four full fiscal years are as follows: Fiscal 2024 $ 12 Fiscal 2025 23 Fiscal 2026 23 Fiscal 2027 23 Fiscal 2028 1,410
Schedule of interest rate swap impact on accumulated other comprehensive loss	Three Months Ended Six Months Ended Accumulated Other Comprehensive Income July 28, 2024 July 30, 2023 July 28, 2024 July 30, 2023 Beginning of period balance $ 66 $ 62 $ 48 $ 70 Measurement adjustment (loss) gain for interest rate swap (31) 20 6 21 Reclassification of (income) to interest expense (13) (11) (26) (21) Tax benefit (expense) on interest rate swap adjustments Measurement adjustment (loss) gain for interest rate swap 8 (4) (1) (4) Reclassification of (income) to interest expense 3 3 6 4 End of period balance $ 33 $ 70 $ 33 $ 70

Supplemental Financial Statem_2

Supplemental Financial Statement Information (Tables)	6 Months Ended
Supplemental Financial Statement Information (Tables)	Jul. 28, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of receivables	Receivables consisted of the following: July 28, 2024 January 28, 2024 Trade receivables, net of allowance for credit losses $ 1,207 $ 888 Supplier rebate receivables 87 85 Receivables, net of allowance for credit losses $ 1,294 $ 973
Schedule of accrued compensation and benefits	Accrued compensation and benefits consisted of the following: July 28, 2024 January 28, 2024 Accrued bonuses and commissions $ 56 $ 82 Other compensation and benefits 24 24 Accrued compensation and benefits $ 80 $ 106
Schedule of cash and non-cash impacts associated with leases	The table below presents cash and non-cash impacts associated with leases: Six Months Ended July 28, 2024 July 30, 2023 Operating cash flow payments for operating lease liabilities $ 31 $ 26 Operating cash flow payments for non-lease components 15 12 Right-of-use assets obtained in exchange for new operating lease liabilities $ 33 $ 29
Schedule of depreciation expense	Depreciation expense is classified within cost of sales and depreciation and amortization within the Statement of Operations. Depreciation expense related to property, plant and equipment, including capitalized software, was as follows: Three Months Ended Six Months Ended July 28, 2024 July 30, 2023 July 28, 2024 July 30, 2023 Depreciation expense $ 9 $ 7 $ 17 $ 13

Non-controlling Interests (Tabl

Non-controlling Interests (Tables)	6 Months Ended
Non-controlling Interests (Tables)	Jul. 28, 2024
Noncontrolling Interest [Abstract]
Schedule of ownership of Partnership Interests	The following table summarizes the ownership of Partnership Interests of Holdings (excluding unvested Partnership Interests held by Management Feeder): Partnership Interests Ownership Percentage Core & Main Management Feeder Total Core & Main Management Feeder Total Balances as of January 28, 2024 191,663,608 9,243,276 200,906,884 95.4 % 4.6 % 100.0 % Retirement of Partnership Interests (429,996) — (429,996) — — — Issuance of Partnership Interests 269,576 — 269,576 — — — Exchange of Partnership Interests 1,139,501 (1,146,477) (6,976) 0.6 (0.6) — Vesting of Partnership Interests — 159,749 159,749 (0.1) 0.1 — Balances as of July 28, 2024 192,642,689 8,256,548 200,899,237 95.9 % 4.1 % 100.0 %

Basic and Diluted Earnings Pe_2

Basic and Diluted Earnings Per Share (Tables)	6 Months Ended
Basic and Diluted Earnings Per Share (Tables)	Jul. 28, 2024
Earnings Per Share [Abstract]
Schedule of basic and diluted earnings per share	Basic earnings per share is computed by dividing net income attributable to Core & Main for the period by the weighted average number of shares of Class A common stock outstanding during the same period. Shares of Class A common stock issued or redeemed 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 or losses 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 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 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. Three Months Ended Six Months Ended Basic earnings per share: July 28, 2024 July 30, 2023 July 28, 2024 July 30, 2023 Net income $ 126 $ 164 $ 227 $ 297 Net income attributable to non-controlling interests 7 54 13 101 Net income available to Class A common stock 119 110 214 196 Weighted average shares outstanding 192,797,961 167,312,292 192,495,255 169,474,741 Net income per share $ 0.62 $ 0.66 $ 1.11 $ 1.16 Diluted earnings per share: Net income available to common shareholders - basic $ 119 $ 110 $ 214 $ 196 Increase to net income attributable to dilutive instruments 5 40 10 75 Net income available to common shareholders - diluted 124 150 224 271 Weighted average shares outstanding - basic 192,797,961 167,312,292 192,495,255 169,474,741 Incremental shares of common stock attributable to dilutive instruments 9,869,393 61,670,989 10,145,738 66,901,176 Weighted average shares outstanding - diluted 202,667,354 228,983,281 202,640,993 236,375,917 Net income per share - diluted $ 0.61 $ 0.66 $ 1.11 $ 1.15

Basis of Presentation & Descr_4

Basis of Presentation & Description of Business (Details)								3 Months Ended			6 Months Ended
Basis of Presentation & Description of Business (Details)	Jan. 25, 2024 USD ($) $ / shares shares	Jan. 10, 2024 USD ($) $ / shares shares	Dec. 11, 2023 USD ($) $ / shares shares	Nov. 09, 2023 USD ($) $ / shares shares	Sep. 19, 2023 USD ($) $ / shares shares	Jun. 12, 2023 USD ($) $ / shares shares	Apr. 14, 2023 USD ($) $ / shares shares	Jul. 28, 2024 USD ($) branch_location state shares	Jul. 30, 2023 USD ($)	Apr. 30, 2023 USD ($)	Jul. 28, 2024 USD ($) branch_location state shares	Jun. 12, 2024 USD ($)
Class of Stock and Other Items [Line Items]
Number of branch locations \| branch_location								350			350
Number of states with branches \| state								49			49
Stock repurchased and retired (in shares)	5,000,000	5,000,000	5,000,000	5,000,000	5,000,000	5,000,000	15,000,000
Total Consideration Paid (in millions) \| $	$ 205,000,000	$ 191,000,000	$ 178,000,000	$ 152,000,000	$ 145,000,000	$ 141,000,000	$ 332,000,000	$ 21,000,000	$ 141,000,000	$ 332,000,000	$ 21,000,000
Partnership Interests held (in units)								192,642,689			192,642,689
Authorized, share repurchase amount \| $												$ 500,000,000
Class A Common Stock
Class of Stock and Other Items [Line Items]
Stock repurchased and retired (in shares)	3,125,728	3,125,728	3,125,728	3,125,728	3,125,728	3,125,728	9,377,183				429,996
Public ownership interest (in shares)								192,642,143			192,642,143
Class B Common Stock
Class of Stock and Other Items [Line Items]
Stock repurchased and retired (in shares)	1,874,272	1,874,272	1,874,272	1,874,272	1,874,272	1,874,272	5,622,817
Secondary Offering \| Class A Common Stock
Class of Stock and Other Items [Line Items]
Shares issued in exchange for Partnership Interests (in shares)	7,415,404	7,465,098	6,466,240	8,190,569	6,747,380	5,247,962	1,874,272
Continuing Limited Partners
Class of Stock and Other Items [Line Items]
Partnership Interests held (in units)								8,483,709			8,483,709
Continuing Limited Partners \| Class A Common Stock
Class of Stock and Other Items [Line Items]
Ownership interest (in shares)								546			546
Continuing Limited Partners \| Class B Common Stock
Class of Stock and Other Items [Line Items]
Ownership interest (in shares)								8,483,709			8,483,709
Selling Stockholders \| Secondary Offering
Class of Stock and Other Items [Line Items]
Stock offering price (in dollars per share) \| $ / shares	$ 40.985	$ 38.120	$ 35.540	$ 30.440	$ 29.015	$ 28.215	$ 22.151
Selling Stockholders \| Secondary Offering \| Class A Common Stock
Class of Stock and Other Items [Line Items]
Existing shares sold (in shares)	12,366,683	12,084,902	10,783,760	13,659,431	11,252,620	8,752,038	3,125,728
Number of shares issued (in share)	19,782,087	19,550,000	17,250,000	21,850,000	18,000,000	14,000,000	5,000,000
Stock offering price (in dollars per share) \| $ / shares	$ 40.985	$ 38.120	$ 35.540	$ 30.440	$ 29.015	$ 28.215	$ 22.151

Revenue (Details)

Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Revenue (Details) - USD ($) $ in Millions	Jul. 28, 2024	Jul. 30, 2023	Jul. 28, 2024	Jul. 30, 2023
Disaggregation of Revenue [Line Items]
Total net sales	$ 1,964	$ 1,861	$ 3,705	$ 3,435
Pipes, valves & fittings products
Disaggregation of Revenue [Line Items]
Total net sales	1,329	1,283	2,498	2,357
Storm drainage products
Disaggregation of Revenue [Line Items]
Total net sales	306	278	559	493
Fire protection products
Disaggregation of Revenue [Line Items]
Total net sales	143	174	310	343
Meter products
Disaggregation of Revenue [Line Items]
Total net sales	$ 186	$ 126	$ 338	$ 242

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) $ in Millions	6 Months Ended
Acquisitions - Narrative (Details) $ in Millions	Jul. 28, 2024 USD ($)	Jul. 30, 2023 USD ($)	May 06, 2024 branch_location	Apr. 30, 2024 branch_location	Apr. 01, 2024 branch_location	Mar. 07, 2024 branch_location	Feb. 12, 2024 branch_location	Jul. 12, 2023 branch_location	Jul. 10, 2023 branch_location	Apr. 17, 2023 branch_location	Mar. 06, 2023 branch_location
Business Acquisition [Line Items]
Transaction value \| $	$ 623	$ 161
Goodwill, expected tax deductible amount \| $	195	3
Intangible assets \| $	233	76
Deferred income taxes \| $	38	8
Property, plant and equipment \| $	12	$ 24
Midwest Pipe Supply Inc.
Business Acquisition [Line Items]
Number of branch locations acquired \| branch_location										1
Landscape & Construction Supplies LLC
Business Acquisition [Line Items]
Number of branch locations acquired \| branch_location											2
Dana Kepner Company LLC
Business Acquisition [Line Items]
Number of branch locations acquired \| branch_location						21
Intangible assets \| $	184
Deferred income taxes \| $	33
Property, plant and equipment \| $	$ 8
Eastern Supply Inc.
Business Acquisition [Line Items]
Number of branch locations acquired \| branch_location							2
ACF West Inc.
Business Acquisition [Line Items]
Number of branch locations acquired \| branch_location					6
EGW Utilities Inc.
Business Acquisition [Line Items]
Number of branch locations acquired \| branch_location			1	1
Foster Supply Inc.
Business Acquisition [Line Items]
Number of branch locations acquired \| branch_location									7
J.W. D’Angelo Co.
Business Acquisition [Line Items]
Number of branch locations acquired \| branch_location								3

Acquisitions - Allocation of Tr

Acquisitions - Allocation of Transaction Price (Details) - USD ($) $ in Millions	Jul. 28, 2024	Jul. 30, 2023
Allocation of transaction price
Cash	$ 31	$ 5
Receivables	66	28
Inventories	91	38
Intangible assets	233	76
Goodwill	281	17
Property, plant and equipment	12	24
Operating lease right-of-use assets	12	7
Other assets, current and non-current	1	4
Total assets acquired	727	199
Accounts payable	30	9
Deferred income taxes	38	8
Operating lease liabilities, current and non-current	12	7
Fair value of contingent consideration recognized	13	9
Other liabilities, current and non-current	7	7
Net assets acquired	627	$ 159
Dana Kepner Company LLC
Allocation of transaction price
Cash	29
Intangible assets	184
Goodwill	257
Property, plant and equipment	8
Deferred income taxes	33
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNetWorkingCapital	$ 92

Acquisitions - Net Cash Outflow

Acquisitions - Net Cash Outflow (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 28, 2024	Jul. 30, 2023
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Net assets acquired	$ 627	$ 159
Less: Working capital adjustment	0	(3)
Less: Cash acquired in acquisition	(31)	(5)
Payments to Acquire Businesses, Net of Cash Acquired, Total	$ 596	$ 151

Acquisitions - Intangible Asset

Acquisitions - Intangible Assets (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 28, 2024	Jul. 30, 2023
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible Asset Amount	$ 230	$ 76
Weighted Average Amortization Period	10 years	10 years
Weighted Average Discount Rate	13.40%	16.20%
Weighted Average Attrition Rate	12.50%	12.60%
Customer relationships \| Dana Kepner Company LLC
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible Asset Amount	$ 181
Weighted Average Amortization Period	10 years
Weighted Average Discount Rate	13%
Weighted Average Attrition Rate	12.50%
Trademark
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible Asset Amount	$ 3
Weighted Average Amortization Period	5 years
Weighted Average Discount Rate	13%

Acquisitions - Pro Forma Financ

Acquisitions - Pro Forma Financial Information (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jul. 30, 2023	Jul. 28, 2024	Jul. 30, 2023
Pro forma financial information
Net sales	$ 1,956	$ 3,734	$ 3,604
Net income	$ 164	$ 228	$ 292

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Goodwill Balance (Details) - USD ($) $ in Millions	Jul. 28, 2024	Jan. 28, 2024
Goodwill:
Gross Goodwill	$ 1,843	$ 1,561
Accumulated Impairment	0	0
Goodwill	$ 1,843	$ 1,561

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Goodwill Rollforward (Details) $ in Millions	6 Months Ended
	Jul. 28, 2024 USD ($)
Goodwill changes:
Goodwill, beginning balance	$ 1,561
Goodwill acquired during the year	281
Goodwill adjusted during the year	1
Goodwill, ending balance	$ 1,843

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Millions	Jul. 28, 2024	Jan. 28, 2024
Intangible assets, net:
Gross Intangible	$ 1,749	$ 1,506
Accumulated Amortization	795	722
Net Intangible	954	784
Customer relationships
Intangible assets, net:
Gross Intangible	1,726	1,496
Accumulated Amortization	790	718
Net Intangible	936	778
Other intangible assets
Intangible assets, net:
Gross Intangible	23	10
Accumulated Amortization	5	4
Net Intangible	$ 18	$ 6

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Amortization Expense Related to Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 28, 2024	Jul. 30, 2023	Jul. 28, 2024	Jul. 30, 2023
Amortization expense related to intangible assets:
Amortization expense	$ 38	$ 31	$ 73	$ 60

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets - Estimated Aggregate Amortization Expense (Details) $ in Millions	Jul. 28, 2024 USD ($)
Estimated prospective aggregate amortization expense:
Fiscal 2024	$ 75
Fiscal 2025	141
Fiscal 2026	131
Fiscal 2027	123
Fiscal 2028	$ 114

Debt - Summary of Debt (Details

Debt - Summary of Debt (Details) - USD ($) $ in Millions	Jul. 28, 2024	Jan. 28, 2024	Jul. 30, 2023
Debt Instrument [Line Items]
Long-term debt, Principal	$ 2,429	$ 1,878
Unamortized Discount and Debt Issuance Costs	25	15
Long-term Debt	2,452	1,893
Term loan
Debt Instrument [Line Items]
Current maturities of long-term debt, Principal	23		$ 15
Senior ABL Credit Facility due February 2029 \| Revolving credit facility
Debt Instrument [Line Items]
Long-term debt, Principal	250	430
Unamortized Discount and Debt Issuance Costs	0	0
Senior Term Loan due July 2028 \| Term loan
Debt Instrument [Line Items]
Current maturities of long-term debt, Principal	15	15
Long-term debt, Principal	1,440	1,448
Unamortized Discount and Debt Issuance Costs	14	15
Senior Term Loan Due February 2031 \| Term loan
Debt Instrument [Line Items]
Current maturities of long-term debt, Principal	8	0
Long-term debt, Principal	739	0
Unamortized Discount and Debt Issuance Costs	$ 11	$ 0

Debt - Debt Agreements Narrativ

Debt - Debt Agreements Narrative (Details) - USD ($)	4 Months Ended	6 Months Ended
Debt - Debt Agreements Narrative (Details) - USD ($)	May 21, 2024	Jul. 28, 2024	Jan. 28, 2024	Feb. 26, 2023	Jul. 29, 2022
Term loan \| Interest Rate Swap Maturing July 27, 2026
Debt Instrument [Line Items]
Applicable margin (percent)		2%
Senior Term Loan due July 2028 \| Term loan
Debt Instrument [Line Items]
Aggregate principal amount				$ 1,500,000,000
Periodic payment as a percentage of original principal		0.25%
Applicable margin (percent)	2.60%
Debt instrument, SOFR floor		0%
Weighted average interest rate (percent)		7.34%
Debt covenant, consolidated secured leverage ratio		3.25
Senior Term Loan due July 2028 \| Term loan \| Level 2
Debt Instrument [Line Items]
Fair value of debt		$ 1,459,000,000
Senior Term Loan due July 2028 \| Term loan \| Federal funds rate, base rate
Debt Instrument [Line Items]
Applicable margin (percent)		0.50%
Senior Term Loan due July 2028 \| Term loan \| Base Rate Component, SOFR
Debt Instrument [Line Items]
Applicable margin (percent)		1%
Senior Term Loan due July 2028 \| Term loan \| Base Rate Component, Addition To Prime, SOFR, Federal Funds Rate
Debt Instrument [Line Items]
Applicable margin (percent)		1.50%
Senior ABL Credit Facility due February 2029 \| Revolving credit facility
Debt Instrument [Line Items]
Aggregate commitments					$ 1,250,000,000
Fee on unfunded commitments (percent)		0.25%
Amount outstanding		$ 250,000,000	$ 430,000,000
Debt covenant, consolidated fixed charge coverage ratio		1
Debt covenant, threshold percentage of borrowing base or aggregate effective commitments for fixed charge coverage ratio		10%
Senior ABL Credit Facility due February 2029 \| Secured Overnight Financing Rate (SOFR) \| Revolving credit facility \| Minimum
Debt Instrument [Line Items]
Applicable margin (percent)		1.25%
Senior ABL Credit Facility due February 2029 \| Secured Overnight Financing Rate (SOFR) \| Revolving credit facility \| Maximum
Debt Instrument [Line Items]
Applicable margin (percent)		1.75%
Senior ABL Credit Facility due February 2029 \| Alternate base rate \| Revolving credit facility \| Minimum
Debt Instrument [Line Items]
Applicable margin (percent)		0.25%
Senior ABL Credit Facility due February 2029 \| Alternate base rate \| Revolving credit facility \| Maximum
Debt Instrument [Line Items]
Applicable margin (percent)		0.75%
Senior Term Loan Due February 2031 \| Term loan
Debt Instrument [Line Items]
Aggregate principal amount				$ 750,000,000
Periodic payment as a percentage of original principal		0.25%
Applicable margin (percent)		2.25%
Debt instrument, SOFR floor		0%
Weighted average interest rate (percent)		7.59%
Senior Term Loan Due February 2031 \| Term loan \| Level 2
Debt Instrument [Line Items]
Fair value of debt		$ 750,000,000
Senior Term Loan Due February 2031 \| Term loan \| Base Rate Component, Addition To Prime, SOFR, Federal Funds Rate
Debt Instrument [Line Items]
Applicable margin (percent)		1.25%
Revolving credit facility \| Term loan
Debt Instrument [Line Items]
Weighted average interest rate (percent)		6.58%

Debt - Aggregate Future Debt Pa

Debt - Aggregate Future Debt Payments (Details) $ in Millions	Jul. 28, 2024 USD ($)
Aggregate future debt payments
Fiscal 2024	$ 12
Fiscal 2025	23
Fiscal 2026	23
Fiscal 2027	23
Fiscal 2028	$ 1,410

Debt - Interest Rate Swaps Narr

Debt - Interest Rate Swaps Narrative (Details) - USD ($) $ in Millions	4 Months Ended	6 Months Ended
	May 21, 2024	Jul. 28, 2024	Jul. 27, 2026	Jul. 27, 2025	Feb. 12, 2024	Jan. 28, 2024	Feb. 26, 2023
Debt Instrument [Line Items]
Cash flow hedge gain (loss) to be reclassified within 12 months		$ 39
Senior Term Loan due July 2028 \| Term loan
Debt Instrument [Line Items]
Applicable margin (percent)	2.60%
Interest Rate Swap Maturing July 27, 2026
Debt Instrument [Line Items]
Fair value of this cash flow interest rate swap asset		$ 54				$ 67
Interest Rate Swap Maturing July 27, 2026 \| Term loan
Debt Instrument [Line Items]
Applicable margin (percent)		2%
Interest Rate Swap Maturing July 27, 2026 \| Cash flow
Debt Instrument [Line Items]
Fixed interest rate (percent)		0.693%					0.693%
Hedged borrowings		$ 800
Effective fixed rate (percent)		2.693%
Interest Rate Swap Maturing July 27, 2026 \| Cash flow \| Forecast
Debt Instrument [Line Items]
Notional amount				$ 700
Interest Rate Swap Maturing July 27, 2028
Debt Instrument [Line Items]
Fair value of this cash flow interest rate swap		$ 7
Interest Rate Swap Maturing July 27, 2028 \| Term loan
Debt Instrument [Line Items]
Applicable margin (percent)		2.25%
Interest Rate Swap Maturing July 27, 2028 \| Cash flow
Debt Instrument [Line Items]
Fixed interest rate (percent)		3.913%			3.913%
Notional amount					$ 750
Effective fixed rate (percent)		6.163%
Interest Rate Swap Maturing July 27, 2028 \| Cash flow \| Forecast
Debt Instrument [Line Items]
Notional amount			$ 1,500

Debt - Accumulated Other Compre

Debt - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 28, 2024	Jul. 30, 2023	Jul. 28, 2024	Jul. 30, 2023
Accumulated Other Comprehensive Income
Beginning balance	$ 1,644	$ 2,192	$ 1,524	$ 2,410
Measurement adjustment (loss) gain for interest rate swap			6	21
Reclassification of (income) to interest expense			(26)	(21)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax [Abstract]
Measurement adjustment (loss) gain for interest rate swap			(1)	(4)
Reclassification of (income) to interest expense			6	4
Ending balance	1,720	2,213	1,720	2,213
Interest Rate Swap Maturing July 27, 2026
Accumulated Other Comprehensive Income
Measurement adjustment (loss) gain for interest rate swap	(31)	20
Reclassification of (income) to interest expense	(13)	(11)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax [Abstract]
Measurement adjustment (loss) gain for interest rate swap	8	(4)
Reclassification of (income) to interest expense	3	3
Accumulated other comprehensive loss, cash flow hedge \| Interest Rate Swap Maturing July 27, 2026
Accumulated Other Comprehensive Income
Beginning balance	66	62	48	70
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax [Abstract]
Ending balance	$ 33	$ 70	$ 33	$ 70

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended		6 Months Ended
	Oct. 30, 2022	Jul. 28, 2024	Jul. 30, 2023	Jul. 28, 2024	Jul. 30, 2023	Jul. 26, 2024	Jan. 28, 2024
Income Taxes [Line Items]
Effective tax rate (percent)		25%	19.60%	24.80%	19.30%
Percent of Company realized tax benefits payable to Limited Partners pursuant to Tax Receivable Agreements		85%		85%
Pro forma tax rate per agreements (percent)		25.10%		25.10%
Continuing Limited Partners
Income Taxes [Line Items]
Estimated deferred tax asset target per agreement		$ 135		$ 135
Estimated tax liability per agreement		115		115
Estimated increase in deferred tax liability due to exchange of Partnership Interests	$ 6
Former Limited Partners
Income Taxes [Line Items]
Tax receivable arrangement		720		720			$ 717
Tax benefit arrangement payable, current		$ 19		$ 19
Class A Common Stock
Income Taxes [Line Items]
Closing stock price (in dollars per share)						$ 53.53

Supplemental Financial Statem_3

Supplemental Financial Statement Information - Receivables (Details) - USD ($) $ in Millions	Jul. 28, 2024	Jan. 28, 2024
Total Receivables, net
Trade receivables, net of allowance for credit losses	$ 1,207	$ 888
Supplier rebate receivables	87	85
Receivables, net of allowance for credit losses	$ 1,294	$ 973

Supplemental Financial Statem_4

Supplemental Financial Statement Information - Accrued Compensation and Benefits (Details) - USD ($) $ in Millions	Jul. 28, 2024	Jan. 28, 2024
Accrued Compensation and Benefits
Accrued bonuses and commissions	$ 56	$ 82
Other compensation and benefits	24	24
Accrued compensation and benefits	$ 80	$ 106

Supplemental Financial Statem_5

Supplemental Financial Statement Information - Cash and Non-cash Impacts Associated with Leases (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 28, 2024	Jul. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Operating cash flow payments for operating lease liabilities	$ 31	$ 26
Operating cash flow payments for non-lease components	15	12
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 33	$ 29

Supplemental Financial Statem_6

Supplemental Financial Statement Information - Depreciation Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 28, 2024	Jul. 30, 2023	Jul. 28, 2024	Jul. 30, 2023
Depreciation expense related to property and equipment, including capitalized software
Depreciation	$ 9	$ 7	$ 17	$ 13

Non-controlling Interests (Deta

Non-controlling Interests (Details) - Holdings - shares	3 Months Ended	6 Months Ended
Non-controlling Interests (Details) - Holdings - shares	Apr. 28, 2024	Jul. 28, 2024
Partnership Interests
Beginning balance (in units)	200,906,884	200,906,884
Retirement of Partnership Interests (in units)		(429,996)
Issuance of Partnership Interests (in units)		269,576
Exchange of Partnership Interests (in units)		(6,976)
Vesting of Partnership Interests (in units)		159,749
Ending balance (in units)		200,899,237
Ownership Percentage
Beginning balance (percent)	100%	100%
Retirement of Partnership Interests (percent)		0%
Issuance of Partnership Interests (percent)		0%
Exchange of Partnership Interests (percent)		0%
Vesting of Partnership Interests (percent)		0%
Ending balance (percent)	100%	100%
Core & Main
Partnership Interests
Beginning balance (in units)	191,663,608	191,663,608
Retirement of Partnership Interests (in units)		(429,996)
Issuance of Partnership Interests (in units)		269,576
Exchange of Partnership Interests (in units)		(1,139,501)
Vesting of Partnership Interests (in units)		0
Ending balance (in units)		192,642,689
Ownership Percentage
Beginning balance (percent)	95.40%	95.90%
Retirement of Partnership Interests (percent)		0%
Issuance of Partnership Interests (percent)		0%
Exchange of Partnership Interests (percent)		(0.60%)
Vesting of Partnership Interests (percent)		0.10%
Ending balance (percent)	95.40%	95.90%
Management Feeder
Partnership Interests
Beginning balance (in units)	9,243,276	9,243,276
Retirement of Partnership Interests (in units)		0
Issuance of Partnership Interests (in units)		0
Exchange of Partnership Interests (in units)		(1,146,477)
Vesting of Partnership Interests (in units)		159,749
Ending balance (in units)		8,256,548
Ownership Percentage
Beginning balance (percent)	4.60%	4.10%
Retirement of Partnership Interests (percent)		0%
Issuance of Partnership Interests (percent)		0%
Exchange of Partnership Interests (percent)		(0.60%)
Vesting of Partnership Interests (percent)		0.10%
Ending balance (percent)	4.60%	4.10%

Basic and Diluted Earnings Pe_3

Basic and Diluted Earnings Per Share - Narrative (Details)	6 Months Ended
Basic and Diluted Earnings Per Share - Narrative (Details)	Jul. 28, 2024 USD ($) shares
Earnings Per Share [Abstract]
Preferred dividends \| $	$ 0
Preferred stock outstanding (in shares) \| shares	0

Basic and Diluted Earnings Pe_4

Basic and Diluted Earnings Per Share - Calculation (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended				6 Months Ended
	Jul. 28, 2024	Apr. 28, 2024	Jul. 30, 2023	Apr. 30, 2023	Jul. 28, 2024	Jul. 30, 2023
Basic earnings per share:
Net income	$ 126	$ 101	$ 164	$ 133	$ 227	$ 297
Net income attributable to non-controlling interests	7		54		13	101
Net income available to Class A common stock	$ 119		$ 110		$ 214	$ 196
Weighted average shares outstanding - basic (in shares)	192,797,961		167,312,292		192,495,255	169,474,741
Net income per share - basic (in dollars per share)	$ 0.62		$ 0.66		$ 1.11	$ 1.16
Diluted earnings per share:
Net income available to common shareholders - basic	$ 119		$ 110		$ 214	$ 196
Increase to net income attributable to dilutive instruments	5		40		10	75
Net income available to common shareholders - diluted	$ 124		$ 150		$ 224	$ 271
Weighted average shares outstanding - basic (in shares)	192,797,961		167,312,292		192,495,255	169,474,741
Incremental shares of common stock attributable to dilutive instruments (in shares)	9,869,393		61,670,989		10,145,738	66,901,176
Weighted average shares outstanding - diluted (in shares)	202,667,354		228,983,281		202,640,993	236,375,917
Net income per share - diluted (in dollars per share)	$ 0.61		$ 0.66		$ 1.11	$ 1.15