Core & Main (CNM) 10-Q 13 Sep 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jul. 31, 2022	Sep. 09, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 31, 2022
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	Non-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	--01-29
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		168,127,268
Class B Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		77,768,489

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jul. 31, 2022	Jan. 30, 2022
Current assets:
Cash and cash equivalents	$ 0	$ 1
Receivables, net of allowance for credit losses of $8 and $5, respectively	1,264	884
Inventories	1,166	856
Prepaid expenses and other current assets	31	26
Total current assets	2,461	1,767
Property, plant and equipment, net	101	94
Operating lease right-of-use assets	166	152
Intangible assets, net	824	871
Goodwill	1,527	1,515
Other assets	69	35
Total assets	5,148	4,434
Current liabilities:
Current maturities of long-term debt	15	15
Accounts payable	826	608
Accrued compensation and benefits	90	109
Current operating lease liabilities	52	49
Other current liabilities	96	58
Total current liabilities	1,079	839
Long-term debt	1,592	1,456
Non-current operating lease liabilities	114	103
Deferred income taxes	31	35
Payable to related parties pursuant to Tax Receivable Agreements	148	153
Other liabilities	19	17
Total liabilities	2,983	2,603
Commitments and contingencies
Additional paid-in capital	1,216	1,214
Retained earnings	298	92
Accumulated other comprehensive income	33	16
Total stockholders’ equity attributable to Core & Main, Inc.	1,550	1,325
Non-controlling interests	615	506
Total stockholders’ equity	2,165	1,831
Total liabilities and stockholders’ equity	5,148	4,434
Class A Common Stock
Current liabilities:
Common stock	2	2
Class B Common Stock
Current liabilities:
Common stock	$ 1	$ 1

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jul. 31, 2022	Jan. 30, 2022
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 8	$ 5
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)	167,963,575	167,522,403
Common stock, outstanding (in shares)	167,963,575	167,522,403
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)	77,930,404	78,398,141
Common stock, outstanding (in shares)	77,930,404	78,398,141

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Millions		3 Months Ended				6 Months Ended
	Aug. 01, 2021	Jul. 31, 2022	Aug. 01, 2021		Jul. 26, 2021	Jul. 31, 2022	Aug. 01, 2021		Jul. 26, 2021
Income Statement [Abstract]
Net sales		$ 1,861	$ 1,298			$ 3,459	$ 2,353
Cost of sales		1,360	973			2,537	1,771
Gross profit		501	325			922	582
Operating expenses:
Selling, general and administrative		230	192			436	346
Depreciation and amortization		34	33			69	67
Total operating expenses		264	225			505	413
Operating income		237	100			417	169
Interest expense		17	37			30	73
Loss on debt modification and extinguishment		0	50			0	50
Income before provision for income taxes		220	13			387	46
Provision for income taxes		38	3			68	9
Net income		182	10			319	37
Less: net income (loss) attributable to non-controlling interests		67	(17)			118	(17)
Net income attributable to Core & Main, Inc. (1)	$ (20)	$ 115	$ 27	[1]	$ 47	$ 201	$ 54	[1]	$ 74
Earnings per share:
Basic (in dollars per share)		$ 0.69	$ (0.14)	[2]		$ 1.20	$ (0.14)	[2]
Diluted (in dollars per share)		$ 0.67	$ (0.14)	[2]		$ 1.17	$ (0.14)	[2]
Number of shares used in computing EPS
Basic (shares)		167,876,179	138,978,366	[2]		167,708,034	138,978,366	[2]
Diluted (shares)		246,175,878	138,978,366	[2]		246,160,811	138,978,366	[2]
[1]For the three and six months ended August 1, 2021, the net income (loss) attributable to Core & Main, Inc. includes net income prior to the Reorganization Transactions (as defined in Note 1) of $47 million and $74 million, respectively, and a net loss subsequent to the Reorganization Transactions of $20 million for both periods. Refer to the Statements of Changes in Stockholders’ Equity/Partners’ Capital for a summary of net income (loss) attributable to Core & Main, Inc. prior to and subsequent to the Reorganization Transactions. See Note 1 for a description of the Basis of Presentation of the consolidated financial statements.[2]For the three and six months ended August 1, 2021, this represents basic and diluted earnings per share of Class A common stock and weighted average shares of Class A common stock outstanding for the period from July 23, 2021 through August 1, 2021, which is the period following the Reorganization Transactions described in Note 1. Refer to calculation of earnings per share in Note 10.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 31, 2022	Aug. 01, 2021	Jul. 31, 2022	Aug. 01, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 182	$ 10	$ 319	$ 37
Net interest rate swap (loss) gain, net of tax benefit (expense) of $2, $(1), $(6) $(1), respectively	(9)	4	28	6
Total comprehensive income	173	14	347	43
Less: comprehensive income (loss) attributable to non-controlling interests	64	(16)	129	(16)
Total comprehensive income attributable to Core & Main, Inc.	$ 109	$ 30	$ 218	$ 59

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 31, 2022	Aug. 01, 2021	Jul. 31, 2022	Aug. 01, 2021
Statement of Comprehensive Income [Abstract]
Net interest rate swap (loss) gain, net of tax benefit (expense) of $2, $(1), $(6) $(1), respectively	$ 2	$ (1)	$ (6)	$ (1)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Partners' Capital/Stockholders' Equity - USD ($) $ in Millions	Total	Net old interest rate swap gain, net of tax	Net new interest rate swap loss, net of tax	Partners’ Capital	Common Stock Class A Common Stock	Common Stock Class B Common Stock	Additional Paid In Capital	Accumulated Other Comprehensive Income	Accumulated Other Comprehensive Income Net old interest rate swap gain, net of tax	Accumulated Other Comprehensive Income Net new interest rate swap loss, net of tax	Retained Earnings	Non-Controlling Interests	Non-Controlling Interests Net old interest rate swap gain, net of tax	Non-Controlling Interests Net new interest rate swap loss, net of tax
Beginning balance at Jan. 31, 2021	$ 801			$ 801
Partners' Capital
Equity-based compensation	1			1
Net income	27			27
Net interest rate swap gain, net of tax	2			2
Distributions to partners	(10)			(10)
Ending balance at May. 02, 2021	821			821
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	27			27
Beginning balance at Jan. 31, 2021	801			801
Partners' Capital
Net income	37
Ending balance at Aug. 01, 2021				0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	37
Net interest rate swap gain, net of tax	6
Ending balance at Aug. 01, 2021	1,548				$ 2	$ 1	$ 1,090	$ (1)			$ (20)	$ 476
Ending balance (in shares) at Aug. 01, 2021					154,834,603	85,853,383
Beginning balance at May. 02, 2021	821			821
Partners' Capital
Equity-based compensation	14			14
Net income	47			47
Net interest rate swap gain, net of tax	2			2
Distributions to partners	(13)			(13)
Ending balance at Jul. 22, 2021	871			871
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	47			47
Beginning balance at May. 02, 2021	821			821
Partners' Capital
Net income	10
Ending balance at Aug. 01, 2021				0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	10
Net interest rate swap gain, net of tax	4
Ending balance at Aug. 01, 2021	1,548				$ 2	$ 1	1,090	(1)			(20)	476
Ending balance (in shares) at Aug. 01, 2021					154,834,603	85,853,383
Beginning balance at Jul. 22, 2021	871			871
Partners' Capital
Net income	(37)										(20)	(17)
Ending balance at Aug. 01, 2021				0
Partners' Capital
Reclassification of partners’ capital	0			$ (871)			871
Reorganization transactions	0				$ 1	$ 1	(2)
Reorganization transactions (in shares)					119,950,882	85,853,383
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	(37)										(20)	(17)
Equity-based compensation	5						3					2
Net interest rate swap gain, net of tax		$ 4	$ (2)						$ 2	$ (1)			$ 2	$ (1)
Adjustment of deferred tax liability associated with Core & Main investment in Core & Main Holdings, LP	140						140
Adjustment of deferred tax liability associated with Core & Main investment in Core & Main Holdings, LP	(89)						(89)
Noncontrolling Interest, Adjustment For Vesting Of Partnership Interests	0						(8)					8
Ending balance at Aug. 01, 2021	1,548				$ 2	$ 1	1,090	(1)			(20)	476
Ending balance (in shares) at Aug. 01, 2021					154,834,603	85,853,383
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Reclassification of non-controlling interests upon reorganization	0						(300)	(2)				302
Issuance of Class A Shares, net of issuance costs	656				$ 1		655
Issuance of Class A Shares, net of issuance costs					34,883,721
Non-controlling interests adjustment for purchase of Partnership Interests from Core & Main Holdings, LP	0						(180)					180
Net income	137										86	51
Beginning balance at Jan. 30, 2022	1,831				$ 2	$ 1	1,214	16			92	506
Beginning balance (in shares) at Jan. 30, 2022					167,522,403	78,398,141
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	137										86	51
Equity-based compensation	3										2	1
Net interest rate swap gain, net of tax	37							23				14
Distributions to non-controlling interest holders	(3)											(3)
Exchange of Partnership Interests and Class B Shares for Class A Shares (in shares)					55,595	(55,713)
Adjustment of deferred tax liability associated with Core & Main investment in Core & Main Holdings, LP							(1)
Adjustment of deferred tax liability associated with Core & Main investment in Core & Main Holdings, LP	1
Vesting of restricted stock units, net of tax withholdings (in shares)					1,321
Forfeiture of Class A Shares and Partnership Interests (in shares)					(20)	(34,703)
Noncontrolling Interest, Adjustment For Vesting Of Partnership Interests	0						(1)					1
Ending balance at May. 01, 2022	2,006				$ 2	$ 1	1,214	39			180	570
Ending balance (in shares) at May. 01, 2022					167,579,299	78,307,725
Partners' Capital
Net income	319
Beginning balance at Jan. 30, 2022	1,831				$ 2	$ 1	1,214	16			92	506
Beginning balance (in shares) at Jan. 30, 2022					167,522,403	78,398,141
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	319
Net interest rate swap gain, net of tax	28
Ending balance at Jul. 31, 2022	2,165				$ 2	$ 1	1,216	33			298	615
Ending balance (in shares) at Jul. 31, 2022					167,963,575	77,930,404
Partners' Capital
Net income	182										115	67
Beginning balance at May. 01, 2022	2,006				$ 2	$ 1	1,214	39			180	570
Beginning balance (in shares) at May. 01, 2022					167,579,299	78,307,725
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	182										115	67
Equity-based compensation	4										3	1
Net interest rate swap gain, net of tax	(9)							(6)				(3)
Distributions to non-controlling interest holders	(17)											(17)
Exchange of Partnership Interests and Class B Shares for Class A Shares (in shares)					377,321	(377,321)
Adjustment of deferred tax liability associated with Core & Main investment in Core & Main Holdings, LP	(1)						(1)
Adjustment of deferred tax liability associated with Core & Main investment in Core & Main Holdings, LP	(2)						(2)
Vesting of restricted stock units, net of tax withholdings (in shares)					6,955
Ending balance at Jul. 31, 2022	2,165				$ 2	$ 1	1,216	$ 33			$ 298	615
Ending balance (in shares) at Jul. 31, 2022					167,963,575	77,930,404
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock Issued During Period Value Exchange Of Partnership Interestshares	$ 0						$ 3					$ (3)

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jul. 31, 2022	Aug. 01, 2021
Cash Flows From Operating Activities:
Net income	$ 319	$ 37
Adjustments to reconcile net cash from operating activities:
Depreciation and amortization	73	75
Provision for bad debt	3	1
Equity-based compensation expense	7	20
Loss on debt modification and extinguishment	0	48
Other	(8)	(4)
Changes in assets and liabilities:
(Increase) decrease in receivables	(376)	(277)
(Increase) decrease in inventories	(298)	(209)
(Increase) decrease in other assets	(7)	0
Increase (decrease) in accounts payable	217	239
Increase (decrease) in accrued liabilities	9	(24)
Increase (decrease) in other liabilities	1	(5)
Net cash used in operating activities	(60)	(99)
Cash Flows From Investing Activities:
Capital expenditures	(15)	(8)
Acquisitions of businesses, net of cash acquired	(42)	0
Settlement of interest rate swap	0	(5)
Proceeds from the sale of property and equipment	1	0
Net cash used in investing activities	(56)	(13)
Cash Flows From Financing Activities:
IPO proceeds, net of underwriting discounts and commissions	0	664
Payments for offering costs	0	(4)
Distributions to non-controlling interest holders	(17)	(20)
Borrowings on asset-based revolving credit facility	214	0
Repayments on asset-based revolving credit facility	(72)	0
Issuance of long-term debt	0	1,500
Repayments of long-term debt	(8)	(2,311)
Payment of debt redemption premiums	0	(18)
Debt issuance costs	(2)	(13)
Net cash provided by (used in) financing activities	115	(202)
Decrease in cash and cash equivalents	(1)	(314)
Cash and cash equivalents at the beginning of the period	1	381
Cash and cash equivalents at the end of the period	0	67
Cash paid for interest	27	102
Cash paid for taxes	$ 62	$ 15

Basis of Presentation & Descrip

Basis of Presentation & Description of Business	6 Months Ended
	Jul. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation & Description of Business	BASIS OF PRESENTATION & DESCRIPTION OF BUSINESS Organization Core & Main , Inc. (“Core & Main”) is a Delaware corporation that was incorporated on April 9, 2021 for the purpose of facilitating an initial public offering and other related transactions, as described below, in order to carry on the business of Core & Main Holdings, LP, a Delaware limited partnership (“Holdings”), and its consolidated subsidiaries. Core & Main is a holding company and its primary material asset is its ownership interest in Holdings, a portion of which is held indirectly through CD&R WW, LLC. Holdings has no operations and no material assets of its own other than its indirect ownership interest in Core & Main LP, a Florida limited partnership, the legal entity that conducts the operations of Core & Main. Core & Main, together with its wholly-owned subsidiaries, including Holdings and its consolidated subsidiaries, are referred to as the “Company”. The Company is a leading specialized distributor of water, wastewater, storm drainage and fire protection products and related services 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 300 branches across 48 states. The Company’s products include pipes, valves, fittings, storm drainage products, fire protection products, meter products and other products for use in the construction, maintenance and repair of water and waste-water systems as well as fire protection systems. The Company has complemented its core products through additional offerings, including smart meter systems, fusible high-density polyethylene (“fusible HDPE”) piping solutions and specifically engineered treatment plant products, services and geosynthetics used in erosion control. 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.”). Initial Public Offering On July 27, 2021, Core & Main completed its initial public offering of 34,883,721 shares of Class A common stock at a price to the public of $20.00 per share (the “IPO”). Core & Main received net proceeds of approximately $664 million, after deducting underwriting discounts and commissions. All of the net proceeds from the IPO, less $8 million of transaction costs directly attributable to the IPO, were utilized to purchase 34,883,721 newly issued limited partner interests of Holdings (“Partnership Interests”) for approximately $656 million in the aggregate. In turn, Holdings and Core & Main LP utilized the net proceeds of the IPO directly or indirectly received from Core & Main, together with the net proceeds from borrowings under the Senior Term Loan Facility (as defined below and described in Note 6) and cash on hand to redeem (i) all $300 million aggregate principal amount of the senior unsecured notes due September 15, 2024 issued by Holdings (the “Senior 2024 Notes”) and (2) all $750 million aggregate principal amount of the senior unsecured notes due August 15, 2025 issued by Core & Main LP (the “Senior 2025 Notes”). Additionally, Core & Main LP amended the terms of the credit agreement governing the senior term loan facility with an original principal balance of $1,300 million maturing on August 1, 2024 issued by Core & Main LP (the “Prior Term Loan Facility”) in order to, among other things, enter into a new $1,500 million seven-year senior term loan (the “Senior Term Loan Facility”). On August 20, 2021, Core & Main issued 5,232,558 shares of Class A common stock pursuant to the full exercise of the underwriters’ option to purchase additional shares of Class A common stock in connection with the IPO at the initial public offering price of $20.00 per share before underwriting discounts and commissions (the “IPO Overallotment Option Exercise”). Core & Main received net proceeds of approximately $100 million after deducting underwriting discounts and commissions. All of the net proceeds were utilized to purchase 5,232,558 newly issued Partnership Interests of Holdings at a price per unit equal to the public offering price per share less underwriting discounts and commissions. In turn, Holdings and Core & Main LP utilized the net proceeds of the IPO Overallotment Option Exercise directly or indirectly received from Core & Main for general corporate purposes. Secondary Offering On January 10, 2022, a secondary public offering of 20,000,000 shares of Class A common stock on behalf of certain selling stockholders affiliated with Clayton, Dubilier & Rice, LLC (the “Selling Stockholders”) was completed at a price to the public of $26.00 per share (the “Secondary Offering”) . As part of the Secondary Offering, 7,455,242 Partnership Interests were exchanged, together with the retirement of a corresponding number of shares of Class B common stock, for an equal number of shares of Class A common stock, which were a portion of the shares sold by the Selling Stockholders. These shares were sold along with an existing 12,544,758 shares of Class A common stock held by the Selling Stockholders. The Company did not issue any shares of Class A common stock in the offering and did not receive any of the proceeds from the sale. The Company paid the costs associated with the sale of shares by the Selling Stockholders, other than underwriting discounts and commissions. Reorganization Transactions In connection with the IPO, the Company completed the following transactions (collectively, the “Reorganization Transactions”): • the formation of Core & Main as a Delaware corporation to function as the direct and indirect parent of Holdings and a publicly traded entity; • the amendment and restatement of the limited partnership agreement of Holdings to, among other things first, modify the capital structure of Holdings and second, admit Core & Main as the general partner and a limited partner of Holdings; • Core & Main’s acquisition of the Partnership Interests held by certain Former Limited Partners (as defined below) and the issuance of Class A common stock to the Former Limited Partners, pursuant to the mergers of CD&R WW Advisor, LLC and CD&R WW Holdings, LLC (the “Blocker Companies”) with and into Core & Main via merger subsidiaries of Core & Main (the “Blocker Mergers”); and • entry into a Master Reorganization Agreement, dated as of July 22, 2021 (the “Master Reorganization Agreement”), with Holdings, the Continuing Limited Partners (as defined below), the Blocker Companies, CD&R Waterworks Holdings GP, CD&R Associates X Waterworks, L.P., CD&R WW Holdings, L.P., Core & Main GP, LLC, CD&R Plumb Buyer, LLC, CD&R Fund X Advisor Waterworks B, L.P., CD&R Fund X Waterworks B1, L.P., CD&R Fund X-A Waterworks B, L.P., CD&R WW, LLC, Brooks Merger Sub 1, Inc. and Brooks Merger Sub 2, Inc. Pursuant to the Master Reorganization Agreement, the Former Limited Partners received Partnership Interests in exchange for their indirect ownership interests in Holdings and exchanged these Partnership Interests for shares of Class A common stock of Core & Main prior to the consummation of the IPO. The Former Limited Partners are defined as CD&R Fund X Advisor Waterworks B, L.P., CD&R Fund X Waterworks B1, L.P., CD&R Fund X-A Waterworks B, L.P. and the other Original Limited Partners (as defined below) that transferred all or a portion of their Partnership Interests (including those held indirectly through the Blocker Companies) for shares of Class A common stock in connection with the Reorganization Transactions and the IPO, and represent entities that transferred all of their Partnership Interests (including Partnership Interests held indirectly through certain “blocker” corporations) for shares of Class A common stock in connection with the consummation of the Reorganization Transactions. The Continuing Limited Partners are defined as CD&R Waterworks Holdings, LLC (“CD&R Waterworks Holdings”) and Core & Main Management Feeder, LLC (“Management Feeder”), and represent the Original Limited Partners that continued to own Partnership Interests after the Reorganization Transactions and that are entitled to exchange their Partnership Interests, together with the retirement of a corresponding number of shares of Class B common stock for shares of Class A common stock. The Original Limited Partners are defined as CD&R Waterworks Holdings, the Former Limited Partners and Management Feeder and represent the direct and indirect owners of Holdings prior to the Reorganization Transactions and the IPO. The shareholder ownership as of July 31, 2022 include the following: • the shareholders of Core & Main, excluding the Continuing Limited Partners and Former Limited Partners, collectively held 60,558,287 shares of Class A common stock; • the Former Limited Partners collectively held 107,397,971 shares of Class A common stock; • Core & Main, directly or indirectly through our wholly-owned subsidiary, held 167,963,575 Partnership Interests; and • the Continuing Limited Partners collectively held 7,317 shares of Class A common stock, 77,930,404 Partnership Interests and 77,930,404 shares of Class B common stock. As the Reorganization Transactions were between entities under common control, the financial statements for the periods prior to the IPO and Reorganization Transactions have been adjusted to combine previously separate entities for presentation purposes. These entities include Core & Main, Holdings and its consolidated subsidiaries and the Blocker Companies. Prior to the Reorganization Transactions, Core & Main had no operations and the Blocker Companies were holding companies for indirect investments in Holdings. The Blocker Companies had no operations but did receive distributions from Holdings associated with their tax obligations from allocations of Holdings' taxable income. As such, the Blocker Companies' financial statements reflected tax provisions and operating cash outflows for payments to taxing authorities. Their balance sheets collectively included $330 million of goodwill and deferred tax liabilities and equity. In connection with the Blocker Mergers, Core & Main assumed the balance sheets of the Blocker Companies. 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. Holdings is considered a variable interest entity. Core & Main is the primary beneficiary and general partner of Holdings and has decision making authority that significantly affects the economic performance of Holdings. As a result, Core & Main consolidates the consolidated financial statements of Holdings. All intercompany balances and transactions have been eliminated in consolidation. The Company records non-controlling interests related to Partnership Interest held by the Continuing Limited Partners in Holdings on its consolidated statements of operations and comprehensive income. The ownership interest of the Continuing Limited Partners related to Partnership Interests held by the Continuing Limited Partners is reflected as non-controlling interests in Core & Main’s consolidated Balance Sheets. 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 30, 2022 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 30, 2022 included in our 2021 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 31, 2022 and three months ended August 1, 2021 included 13 weeks and each of the six months ended July 31, 2022 and six months ended August 1, 2021 included 26 weeks. The current fiscal year ending January 29, 2023 (“fiscal 2022”) will include 52 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 2021 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 interim unaudited condensed consolidated financial statements and related notes during the three and six months ended July 31, 2022.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jul. 31, 2022
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	RECENT ACCOUNTING PRONOUNCEMENTS Reference Rate Reform - In March 2020, the Financial Accounting Standards Board issued ASU No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” (“ASU 2020-04”). The new guidance provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts and hedging relationships that reference the London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by ASU 2020-04 are effective for prospective contract modifications made and qualifying hedging relationships entered into as of March 12, 2020 through December 31, 2022. In July 2022, the Company amended the terms of the Senior ABL Credit Facility (as defined below) in order to, among other things, implement a forward-looking rate based on the secured overnight financing rate (“SOFR”) in lieu of LIBOR. The guidance of ASU 2020-04 did not have an impact on the assessment of the Senior ABL Credit Facility amendment. At the time of a qualifying future transactions that replace LIBOR with a new interest rate index, the Company will consider the application of ASU 2020-04.

Revenue

Revenue	6 Months Ended
	Jul. 31, 2022
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 31, 2022 August 1, 2021 July 31, 2022 August 1, 2021 Pipes, valves & fittings products $ 1,291 $ 888 $ 2,401 $ 1,593 Storm drainage products 266 173 475 303 Fire protection products 192 138 364 257 Meter products 112 99 219 200 Total net sales $ 1,861 $ 1,298 $ 3,459 $ 2,353

Acquisitions

Acquisitions	6 Months Ended
	Jul. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions	ACQUISITIONS Earthsavers Acquisition On June 28, 2022, the Company completed the acquisition of certain assets and assumption of certain liabilities of Earthsavers Erosion Control, LLC (“Earthsavers”) in a transaction valued up to $25 million, subject to working capital adjustments (the “Earthsavers Acquisition”). Earthsavers has three locations and produces and distributes a variety of geosynthetic materials, including straw wattles, erosion control blankets and a broad array of geotextile products. The transaction price was funded with cash on hand. Given the size of the purchase price, a full purchase price allocation has not been presented. However, significant components of the preliminary purchase price allocation include $9 million to net working capital, $9 million to goodwill and $7 million to customer relationships. L&M Acquisition On August 30, 2021, the Company completed the acquisition of certain assets and assumption of certain liabilities of L&M Bag & Supply Co., Inc. (“L&M”) in a transaction valued up to $60 million, subject to working capital adjustments (the “L&M Acquisition”). L&M is a specialized supplier of geotextile fabrics and geogrids, silt fences, turbidity barriers and safety fences, weed control fabric and sod staples. The transaction price was funded with cash on hand. Pacific Pipe Acquisition On August 9, 2021, the Company completed the acquisition of all of the outstanding shares of Pacific Pipe Company, Inc. (“Pacific Pipe”) in a transaction valued up to $103 million, subject to working capital adjustments (the “Pacific Pipe Acquisition”). Pacific Pipe has four branch locations and serves municipalities and contractors in the water, wastewater, storm drainage and irrigation industries throughout Hawaii, with a broad product offering. The transaction price was funded with cash on hand. Other Acquisitions During the six months ended July 31, 2022, the Company completed the acquisitions of certain assets and liabilities in transactions valued at $17 million in total, subject to working capital adjustments (the “Other 2022 Acquisitions”). Given the lack of significance of these transactions, a full purchase price allocation has not been presented. However, a substantial portion of the aggregate purchase price was allocated to customer relationships, goodwill and net working capital. 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 associated with the Earthsavers Acquisition, the L&M Acquisition and the Other 2022 Acquisitions are fully deductible by the Company for U.S. income tax purposes. The following table represents the final allocation of the transaction price to the fair value of identifiable assets acquired and liabilities assumed in the L&M Acquisition and Pacific Pipe Acquisition: L&M Acquisition Pacific Pipe Acquisition Cash $ — $ 2 Accounts receivable 7 10 Inventories 16 17 Intangible assets 19 47 Goodwill 18 41 Operating lease right-of-use assets 2 17 Other assets, current and non-current 5 6 Total assets acquired 67 140 Accounts payable 3 5 Deferred income taxes — 12 Operating lease liabilities 2 17 Net assets acquired $ 62 $ 106 The following reconciles the total consideration to net assets acquired: L&M Acquisition Pacific Pipe Acquisition Total consideration, net of cash $ 62 $ 104 Plus: Cash acquired in acquisition — 2 Net assets acquired; investing cash outflow $ 62 $ 106 Pro Forma Financial Information The following pro forma information presents a summary of the results of operations for the periods indicated as if the Pacific Pipe and L&M acquisitions had been completed as of February 3, 2020. The pro forma financial information is based on the historical financial information for the Company and Pacific Pipe and L&M, along with certain pro forma adjustments. These pro forma adjustments consist primarily of: • increased amortization expense related to the intangible assets acquired in the Pacific Pipe and L&M acquisitions; • 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 dates 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 Pacific Pipe and L&M acquisitions occurred on the assumed dates, 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 Pacific Pipe and L&M acquisitions or revenue growth that may be anticipated. Three Months Ended Six Months Ended August 1, 2021 August 1, 2021 Net sales $ 1,335 $ 2,424 Net income 15 44 As a result of integration of the Pacific Pipe and L&M acquisitions, including the consolidation of certain acquired and existing branches, it is impracticable to identify the explicit financial performance associated with the Pacific Pipe and L&M acquisitions. As such, the Company has not presented the post-acquisition net sales and net income for the Pacific Pipe and L&M acquisitions. Intangible Assets For the Pacific Pipe and L&M acquisitions discussed above, the Company valued intangible assets acquired, which included customer relationships and trademarks. The customer relationship intangible assets represent the value associated with those customer relationships in place at the date of the Pacific Pipe and L&M acquisitions. The Company valued the customer relationships using an excess earnings method using 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 Pacific Pipe acquisition. A summary of the intangible assets acquired and assumptions utilized in the valuation for the Pacific Pipe and L&M acquisitions are as follows: Intangible Asset Amount Amortization Period Discount Rate Attrition Rate L&M Acquisition Customer relationships $ 19 10 years 15.5 % 15.0 % Pacific Pipe Acquisition Customer relationships $ 46 10 years 11.5 % 10.0 % Trademark 1 2 years 11.5 % N/A

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jul. 31, 2022
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 31, 2022 January 30, 2022 Gross Goodwill $ 1,527 $ 1,515 Accumulated Impairment — — Net Goodwill $ 1,527 $ 1,515 The changes in the carrying amount of goodwill are as follows: Six Months Ended July 31, 2022 Beginning Balance $ 1,515 Goodwill acquired during the year 12 Ending balance $ 1,527 Goodwill acquired during the six months ended July 31, 2022 was related to the Earthsavers Acquisition and the Other 2022 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 31, 2022 January 30, 2022 Gross Intangible Accumulated Amortization Net Intangible Gross Intangible Accumulated Amortization Net Intangible Customer relationships $ 1,359 $ 537 $ 822 $ 1,347 $ 478 $ 869 Other intangible assets 4 2 2 4 2 2 Total $ 1,363 $ 539 $ 824 $ 1,351 $ 480 $ 871 Amortization expense related to intangible assets was as follows: Three Months Ended Six Months Ended July 31, 2022 August 1, 2021 July 31, 2022 August 1, 2021 Amortization expense $ 29 $ 29 $ 59 $ 58 The estimated aggregate amortization expense on intangible assets owned by the Company for the remainder of fiscal 2022 and the next four full fiscal years is expected to be as follows: Fiscal 2022 $ 59 Fiscal 2023 110 Fiscal 2024 102 Fiscal 2025 94 Fiscal 2026 87

Debt

Debt	6 Months Ended
	Jul. 31, 2022
Debt Disclosure [Abstract]
Debt	DEBT Debt consisted of the following: July 31, 2022 January 30, 2022 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 $ — Long-term debt: Senior ABL Credit Facility due July 2026 142 — — — Senior Term Loan due July 2028 1,470 20 1,478 22 1,612 20 1,478 22 Total $ 1,627 $ 20 $ 1,493 $ 22 The Company’s debt obligations as of July 31, 2022 included the following debt agreements: Senior Term Loan Facility On July 27, 2021, Core & Main LP entered into the Senior Term Loan Facility, which matures on July 27, 2028. The Senior Term Loan Facility 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 Senior Term Loan Facility. The remaining balance is payable upon final maturity of the Senior Term Loan Facility on July 27, 2028. The Senior Term Loan Facility bears interest at a rate equal to (i) LIBOR plus, in each case, an applicable margin of 2.50% 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 LIBOR (adjusted for maximum reserves) plus 1.00% per annum, plus, in each case, an applicable margin of 1.50%. The Senior Term Loan Facility is subject to a LIBOR “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 Senior Term Loan Facility as of July 31, 2022 was 4.64%. 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 Senior Term Loan Facility was $1,431 million as of July 31, 2022 . Asset-Based Credit Facility On July 29, 2022, Core & Main LP amended the terms of the credit agreement governing the senior asset-based revolving credit facility (as amended, the “Senior ABL Credit Facility”) in order to, among other things, increase the aggregate amount of commitments under the asset-based revolving credit facility by $400 million to $1,250 million overall, subject to borrowing base availability, and implement a rate based on SOFR in lieu of LIBOR. The Senior ABL Credit Facility has a maturity date of July 27, 2026. Borrowings under the Senior ABL Credit Facility bear interest at either the 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 31, 2022, there was $142 million outstanding under the Senior ABL Credit Facility with a weighted average interest rate of 3.61%. The book value of the Senior ABL Credit Facility approximates fair value due to the variable interest rate nature of these borrowings. The aforementioned debt agreements include customary affirmative and negative covenants, which include, among other things, restrictions on Core & Main LP’s ability to pay dividends, create liens, incur additional indebtedness, make investments, dispose of assets and merge or consolidate with any other person. The Senior Term Loan 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 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. Substantially all of Core & Main LP’s assets are pledged as collateral for the Senior Term Loan Facility and the Senior ABL Credit Facility. The aggregate amount of debt payments for the remainder of fiscal 2022 and the next four full fiscal years are as follows: Fiscal 2022 $ 7 Fiscal 2023 15 Fiscal 2024 15 Fiscal 2025 15 Fiscal 2026 157 Interest Rate Swaps On February 28, 2018, Core & Main LP entered into an instrument pursuant to which it made payments to a third party based upon a fixed interest rate of 2.725% and received payments based upon the three-month LIBOR rate, based on a $500 million notional amount, which mirrored then outstanding borrowings under the Prior Term Loan Facility. On July 27, 2021, Core & Main LP repaid the approximately $1,258 million outstanding under the Prior Term Loan Facility and settled the interest rate swap. Three Months Ended Six Months Ended Accumulated Other Comprehensive Loss August 1, 2021 August 1, 2021 Beginning of period balance $ (6) $ (8) Reclassification of expense to interest expense 2 4 Loss on debt modification and extinguishment 5 5 Tax expense on interest rate swap adjustments Reclassification of expense to interest expense (1) (1) Loss on debt modification and extinguishment — — End of period balance $ — $ — On July 27, 2021, Core & Main LP entered into an instrument in which it makes payments to a third-party based upon a fixed interest rate of 0.74% and receives payments based upon the one-month LIBOR rate, based on notional amounts associated with borrowings under the Senior Term Loan Facility. The measurement period of the interest rate swap commenced on July 27, 2021 with a notional amount of $1,000 million. The notional amount decreases to $900 million on July 27, 2023, $800 million on July 27, 2024, and $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 Facility. As of July 31, 2022, this instrument resulted in an effective fixed rate of 3.24%, based upon the 0.74% fixed rate plus an applicable margin of 2.50%, on $1,000 million of borrowings under the Senior Term Loan Facility. The fair value of this cash flow interest rate swap was a $65 million and $31 million asset as of July 31, 2022 and January 30, 2022, respectively, which is included within other assets in the Balance Sheet. 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 LIBOR rates and the discount rate applied to projected cash flows. Three Months Ended Six Months Ended Accumulated Other Comprehensive Income July 31, 2022 August 1, 2021 July 31, 2022 August 1, 2021 Beginning of period balance $ 63 $ — $ 26 $ — Measurement adjustment (loss) gain for interest rate swap (10) (2) 34 (2) Reclassification of (income) to interest expense (1) — — — Tax benefit (expense) on interest rate swap adjustments Measurement adjustment (loss) gain for interest rate swap 2 — (6) — Reclassification of (income) to interest expense — — — — End of period balance $ 54 $ (2) $ 54 $ (2)

Income Taxes

Income Taxes	6 Months Ended
	Jul. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES For the three months ended July 31, 2022 and August 1, 2021, the Company's effective tax rate was 17.3% and 24.6%, respectively. For the six months ended July 31, 2022 and August 1, 2021, the Company's effective tax rate was 17.6% and 20.1%, respectively. The variations between the Company's estimated effective tax rate and the U.S. statutory rate are primarily due to the portion of the Company's earnings attributable to non-controlling interests following the Reorganization Transactions partially offset by certain permanent book-tax differences. Tax Receivable Agreements and Reorganization Transactions In connection with the Reorganization Transactions and the IPO, Core & Main entered into a tax receivable agreement with the Former Limited Partners (the “Former Limited Partners Tax Receivable Agreement”) and a tax receivable agreement with the Continuing Limited Partners (the “Continuing Limited Partners Tax Receivable Agreement”) (collectively, the “Tax Receivable Agreements”). Under these agreements, Core & Main expects to generate tax attributes that will reduce amounts that it would otherwise pay in the future to various tax authorities. The Tax Receivable Agreements provide for the payment to either the Former Limited Partners or Continuing Limited Partners, or their permitted transferees, of 85% of the tax benefits realized by the Company, or in some circumstances are deemed to realize. The Company had recorded $92 million and $62 million payables to related parties pursuant to the Former Limited Partners Tax Receivable Agreement and the Continuing Limited Partners Tax Receivable Agreement, respectively, as of July 31, 2022. As of January 30, 2022, the Company had recorded $92 million and $61 million payables to related parties pursuant to the Former Limited Partners Tax Receivable Agreement and the Continuing Limited Partners Tax Receivable Agreement, respectively. Payments to the Former Limited Partners are expected to commence in fiscal year 2023 for which $6 million 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 the Continuing Limited Partners exchanged all of their Partnership Interests at $24.14 per share of our Class A common stock (the closing stock price on July 29, 2022), (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 that are subject to the Continuing Limited Partners Tax Receivable Agreement, the Company would recognize a deferred tax asset (subject to offset with existing deferred tax liabilities) of approximately $629 million and a Continuing Limited Partners Tax Receivable Agreement liability of approximately $535 million, payable to the Continuing Limited Partners over the life of the Continuing Limited Partners Tax Receivable Agreement. The full exchange by the Continuing Limited Partners will also decrease Core & Main's aforementioned deferred tax asset associated with its investment in Holdings by $151 million. The foregoing amounts are estimates and subject to change.

Supplemental Financial Statemen

Supplemental Financial Statement Information	6 Months Ended
	Jul. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplemental Financial Statement Information	SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION Receivables Receivables consisted of the following: July 31, 2022 January 30, 2022 Trade receivables, net of allowance for credit losses $ 1,178 $ 784 Supplier rebate receivables 86 100 Receivables, net of allowance for credit losses $ 1,264 $ 884 Depreciation Expense Depreciation expense is classified within cost of sales and depreciation and amortization. Depreciation expense related to property, plant and equipment, including capitalized software, was as follows: Three Months Ended Six Months Ended July 31, 2022 August 1, 2021 July 31, 2022 August 1, 2021 Depreciation expense $ 5 $ 5 $ 11 $ 11 Accrued Compensation and Benefits Accrued compensation and benefits consisted of the following: July 31, 2022 January 30, 2022 Accrued bonuses and commissions $ 66 $ 85 Other compensation and benefits 24 24 Accrued compensation and benefits $ 90 $ 109 Other Current Liabilities Other current liabilities consisted of the following: July 31, 2022 January 30, 2022 Accrued non-income taxes $ 32 $ 19 Accrued income taxes 26 12 Other 38 27 Other current liabilities $ 96 $ 58 Leases The table below presents cash and non-cash impacts associated with leases: Six Months Ended July 31, 2022 August 1, 2021 Cash paid for amounts included in the measurements of lease liabilities Operating cash flows from operating leases $ 33 $ 28 Right-of-use assets obtained in exchange for new lease liabilities Operating leases $ 34 $ 37 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. Right-of-use assets acquired as part of the Pacific Pipe and L&M acquisitions are presented in Note 4.

Non-controlling Interests

Non-controlling Interests	6 Months Ended
	Jul. 31, 2022
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 held by the Continuing Limited Partners. Income or loss is attributed to the non-controlling interests based on the weighted average percentage of Partnership Interests held by Continuing Limited Partners, excluding unvested Partnership Interests held by Management Feeder, relative to all Partnership Interests of Holdings during the period following the Reorganization Transactions. Holdings equity is attributed to non-controlling interests based on the Partnership Interests held by Continuing Limited Partners, excluding unvested Partnership Interests held by Management Feeder, relative to all Partnership Interests as of the balance sheet date. The non-controlling interests’ ownership percentage may fluctuate over time as the Continuing Limited Partners exchange Partnership Interests, 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 Continuing Limited Partners Total Core & Main Continuing Limited Partners Total Balances at January 30, 2022 167,522,403 75,344,408 242,866,811 69.0 % 31.0 % 100.0 % Issuance of Partnership Interests 8,276 — 8,276 — — — Exchange of Partnership Interests 432,916 (433,034) (118) 0.2 (0.2) — Forfeiture of Partnership Interests (20) — (20) — — — Vesting of Partnership Interests — 296,007 296,007 (0.1) 0.1 — Balances at July 31, 2022 167,963,575 75,207,381 243,170,956 69.1 % 30.9 % 100.0 %

Basic and Diluted Earnings Per

Basic and Diluted Earnings Per Share	6 Months Ended
	Jul. 31, 2022
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 31, 2022 and from July 23, 2021 to August 1, 2021, the period following the Reorganization Transactions. 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 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 net 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 July 23, 2021 through Basic earnings (loss) per share: July 31, 2022 July 31, 2022 August 1, 2021 Net income (loss) $ 182 $ 319 $ (37) Net income (loss) attributable to non-controlling interests 67 118 (17) Net income (loss) available to Class A common stock 115 201 (20) Weighted average shares outstanding 167,876,179 167,708,034 138,978,366 Net income (loss) per share $ 0.69 $ 1.20 $ (0.14) Diluted earnings (loss) per share: Net income (loss) available to common shareholders - basic $ 115 $ 201 $ (20) Increase to net income (loss) attributable to dilutive instruments 50 88 — Net income (loss) available to common shareholders - diluted 165 289 (20) Weighted average shares outstanding - basic 167,876,179 167,708,034 138,978,366 Incremental shares of common stock attributable to dilutive instruments 78,299,699 78,452,777 — Weighted average shares outstanding - diluted 246,175,878 246,160,811 138,978,366 Net income (loss) per share - diluted $ 0.67 $ 1.17 $ (0.14) The following table details shares, each weighted for the portion of the period for which they were outstanding, that were not included in the computation of diluted earnings (loss) per share because the effect would have been anti-dilutive: Three Months Ended Six Months Ended July 23, 2021 through July 31, 2022 July 31, 2022 August 1, 2021 Partnership Interest/Class B Shares — — 84,135,621 Stock appreciation rights — — 633,683 Total — — 84,769,304

Related Parties

Related Parties	6 Months Ended
	Jul. 31, 2022
Related Party Transactions [Abstract]
Related Parties	RELATED PARTIES CD&R affiliates During the three and six months ended July 31, 2022, the Company had less than $1 million and $1 million, respectively, in purchases of product from affiliates of Clayton, Dubilier & Rice, LLC (“CD&R”), including other companies invested in by funds affiliated with or managed by CD&R (the “CD&R Funds”). During the three and six months ended August 1, 2021, the Company had less than $1 million and $1 million, respectively, in purchases of product from affiliates of CD&R, including other companies invested in by CD&R Funds. There were no amounts payable to affiliates of CD&R at July 31, 2022 and January 30, 2022. There were $1 million and $2 million in sales to affiliates of CD&R for the three and six months ended July 31, 2022, respectively. There was less than $1 million and $5 million in sales to affiliates of CD&R for the three and six months ended August 1, 2021, respectively. The Company had no amounts receivable from affiliates of CD&R at July 31, 2022 and January 30, 2022. Tax Receivable Agreements In connection with the Reorganization Transactions, Core & Main entered into the Former Limited Partners Tax Receivable Agreement with the Former Limited Partners and the Continuing Limited Partners Tax Receivable Agreement with the Continuing Limited Partners. See further discussion in Note 7. Exchange Agreement In connection with the Reorganization Transactions, Core & Main entered into the Exchange Agreement, dated as of July 22, 2021 (as amended, the “Exchange Agreement”), by and among Core & Main Holdings, LLC and Core & Main Management Feeder, LLC. Pursuant to the Exchange Agreement, the Continuing Limited Partners (or their permitted transferees) will have the right, subject to the terms of the Exchange Agreement, to exchange their Partnership Interests, together with the retirement of a corresponding number of shares of Class B common stock, for shares of Class A common stock generally on a one-for-one basis or for cash in limited circumstances as specified in the Exchange Agreement. The Exchange Agreement also provides that in connection with any such exchange, to the extent that Holdings has, since consummation of the Reorganization Transactions and the IPO, made distributions to the applicable Continuing Limited Partner that are proportionately lesser or greater than the distributions made to Core & Main, on a pro rata basis, the number of shares of Class A common stock to be issued or cash to be paid to such Continuing Limited Partner will be adjusted to take into account the amount of such discrepancy that is allocable to the Partnership Interests, and Class B common stock, subject to such exchange. Holders of Partnership Interests will not have the right to exchange Partnership Interests if Core & Main determines that such exchange would be prohibited by law or regulation or would violate other agreements with Core & Main or its subsidiaries to which the holder of Partnership Interests may be subject. Core & Main may also refuse to honor any request to effect an exchange if it determines such exchange would pose a material risk that Holdings would be treated as a “publicly traded partnership” for U.S. federal income tax purposes. Notwithstanding the foregoing, the Continuing Limited Partners are generally permitted to exchange Partnership Interests, subject to the terms of the Exchange Agreement. The Exchange Agreement also provides that, in connection with any such exchange, to the extent that Holdings has, since consummation of the Reorganization Transactions and the IPO, made distributions to the applicable Continuing Limited Partner that are proportionately lesser or greater than the distributions made to Core & Main, on a pro rata basis, the number of shares of Class A common stock to be issued or cash to be paid to such Continuing Limited Partner will be adjusted to take into account the amount of such discrepancy that is allocable to the Partnership Interests, and Class B common stock, subject to such exchange. Core & Main expects to cause Holdings to make distributions to its partners in such a manner as generally to limit increases to the number of shares of Class A common stock to be issued or cash to be paid to exchanging Continuing Limited Partners in connection with the adjustment described in the preceding sentence.

Subsequent Events

Subsequent Events	6 Months Ended
	Jul. 31, 2022
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.

Basis of Presentation & Descr_2

Basis of Presentation & Description of Business (Policies)	6 Months Ended
	Jul. 31, 2022
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. Holdings is considered a variable interest entity. Core & Main is the primary beneficiary and general partner of Holdings and has decision making authority that significantly affects the economic performance of Holdings. As a result, Core & Main consolidates the consolidated financial statements of Holdings. All intercompany balances and transactions have been eliminated in consolidation. The Company records non-controlling interests related to Partnership Interest held by the Continuing Limited Partners in Holdings on its consolidated statements of operations and comprehensive income. The ownership interest of the Continuing Limited Partners related to Partnership Interests held by the Continuing Limited Partners is reflected as non-controlling interests in Core & Main’s consolidated Balance Sheets.
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 30, 2022 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 30, 2022 included in our 2021 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 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.
Recent Accounting Pronouncements	RECENT ACCOUNTING PRONOUNCEMENTS Reference Rate Reform - In March 2020, the Financial Accounting Standards Board issued ASU No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” (“ASU 2020-04”). The new guidance provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts and hedging relationships that reference the London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by ASU 2020-04 are effective for prospective contract modifications made and qualifying hedging relationships entered into as of March 12, 2020 through December 31, 2022. In July 2022, the Company amended the terms of the Senior ABL Credit Facility (as defined below) in order to, among other things, implement a forward-looking rate based on the secured overnight financing rate (“SOFR”) in lieu of LIBOR. The guidance of ASU 2020-04 did not have an impact on the assessment of the Senior ABL Credit Facility amendment. At the time of a qualifying future transactions that replace LIBOR with a new interest rate index, the Company will consider the application of ASU 2020-04.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jul. 31, 2022
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 31, 2022 August 1, 2021 July 31, 2022 August 1, 2021 Pipes, valves & fittings products $ 1,291 $ 888 $ 2,401 $ 1,593 Storm drainage products 266 173 475 303 Fire protection products 192 138 364 257 Meter products 112 99 219 200 Total net sales $ 1,861 $ 1,298 $ 3,459 $ 2,353

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jul. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of allocation of transaction price to the fair value of identifiable assets acquired and liabilities assumed	The following table represents the final allocation of the transaction price to the fair value of identifiable assets acquired and liabilities assumed in the L&M Acquisition and Pacific Pipe Acquisition: L&M Acquisition Pacific Pipe Acquisition Cash $ — $ 2 Accounts receivable 7 10 Inventories 16 17 Intangible assets 19 47 Goodwill 18 41 Operating lease right-of-use assets 2 17 Other assets, current and non-current 5 6 Total assets acquired 67 140 Accounts payable 3 5 Deferred income taxes — 12 Operating lease liabilities 2 17 Net assets acquired $ 62 $ 106
Schedule of reconciliation of total consideration to net assets acquired	The following reconciles the total consideration to net assets acquired: L&M Acquisition Pacific Pipe Acquisition Total consideration, net of cash $ 62 $ 104 Plus: Cash acquired in acquisition — 2 Net assets acquired; investing cash outflow $ 62 $ 106
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 Pacific Pipe and L&M acquisitions occurred on the assumed dates, 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 Pacific Pipe and L&M acquisitions or revenue growth that may be anticipated. Three Months Ended Six Months Ended August 1, 2021 August 1, 2021 Net sales $ 1,335 $ 2,424 Net income 15 44
Schedule of intangible assets acquired and assumptions utilized in the valuation	A summary of the intangible assets acquired and assumptions utilized in the valuation for the Pacific Pipe and L&M acquisitions are as follows: Intangible Asset Amount Amortization Period Discount Rate Attrition Rate L&M Acquisition Customer relationships $ 19 10 years 15.5 % 15.0 % Pacific Pipe Acquisition Customer relationships $ 46 10 years 11.5 % 10.0 % Trademark 1 2 years 11.5 % N/A

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jul. 31, 2022
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 31, 2022 January 30, 2022 Gross Goodwill $ 1,527 $ 1,515 Accumulated Impairment — — Net Goodwill $ 1,527 $ 1,515 The changes in the carrying amount of goodwill are as follows: Six Months Ended July 31, 2022 Beginning Balance $ 1,515 Goodwill acquired during the year 12 Ending balance $ 1,527
Schedule of net intangible assets	The Company’s intangible assets included in its Balance Sheets consist of the following: July 31, 2022 January 30, 2022 Gross Intangible Accumulated Amortization Net Intangible Gross Intangible Accumulated Amortization Net Intangible Customer relationships $ 1,359 $ 537 $ 822 $ 1,347 $ 478 $ 869 Other intangible assets 4 2 2 4 2 2 Total $ 1,363 $ 539 $ 824 $ 1,351 $ 480 $ 871
Schedule of amortization expense related to intangible assets	Amortization expense related to intangible assets was as follows: Three Months Ended Six Months Ended July 31, 2022 August 1, 2021 July 31, 2022 August 1, 2021 Amortization expense $ 29 $ 29 $ 59 $ 58
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 2022 and the next four full fiscal years is expected to be as follows: Fiscal 2022 $ 59 Fiscal 2023 110 Fiscal 2024 102 Fiscal 2025 94 Fiscal 2026 87

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jul. 31, 2022
Debt Disclosure [Abstract]
Schedule of debt	Debt consisted of the following: July 31, 2022 January 30, 2022 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 $ — Long-term debt: Senior ABL Credit Facility due July 2026 142 — — — Senior Term Loan due July 2028 1,470 20 1,478 22 1,612 20 1,478 22 Total $ 1,627 $ 20 $ 1,493 $ 22
Schedule of aggregate future debt payments	The aggregate amount of debt payments for the remainder of fiscal 2022 and the next four full fiscal years are as follows: Fiscal 2022 $ 7 Fiscal 2023 15 Fiscal 2024 15 Fiscal 2025 15 Fiscal 2026 157
Schedule of interest rate swap impact on accumulated other comprehensive loss	Three Months Ended Six Months Ended Accumulated Other Comprehensive Loss August 1, 2021 August 1, 2021 Beginning of period balance $ (6) $ (8) Reclassification of expense to interest expense 2 4 Loss on debt modification and extinguishment 5 5 Tax expense on interest rate swap adjustments Reclassification of expense to interest expense (1) (1) Loss on debt modification and extinguishment — — End of period balance $ — $ — Three Months Ended Six Months Ended Accumulated Other Comprehensive Income July 31, 2022 August 1, 2021 July 31, 2022 August 1, 2021 Beginning of period balance $ 63 $ — $ 26 $ — Measurement adjustment (loss) gain for interest rate swap (10) (2) 34 (2) Reclassification of (income) to interest expense (1) — — — Tax benefit (expense) on interest rate swap adjustments Measurement adjustment (loss) gain for interest rate swap 2 — (6) — Reclassification of (income) to interest expense — — — — End of period balance $ 54 $ (2) $ 54 $ (2)

Supplemental Financial Statem_2

Supplemental Financial Statement Information (Tables)	6 Months Ended
	Jul. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of receivables	Receivables consisted of the following: July 31, 2022 January 30, 2022 Trade receivables, net of allowance for credit losses $ 1,178 $ 784 Supplier rebate receivables 86 100 Receivables, net of allowance for credit losses $ 1,264 $ 884
Schedule of depreciation expense	Depreciation expense is classified within cost of sales and depreciation and amortization. Depreciation expense related to property, plant and equipment, including capitalized software, was as follows: Three Months Ended Six Months Ended July 31, 2022 August 1, 2021 July 31, 2022 August 1, 2021 Depreciation expense $ 5 $ 5 $ 11 $ 11
Schedule of accrued compensation and benefits	Accrued compensation and benefits consisted of the following: July 31, 2022 January 30, 2022 Accrued bonuses and commissions $ 66 $ 85 Other compensation and benefits 24 24 Accrued compensation and benefits $ 90 $ 109
Schedule of other current liabilities	Other current liabilities consisted of the following: July 31, 2022 January 30, 2022 Accrued non-income taxes $ 32 $ 19 Accrued income taxes 26 12 Other 38 27 Other current liabilities $ 96 $ 58
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 31, 2022 August 1, 2021 Cash paid for amounts included in the measurements of lease liabilities Operating cash flows from operating leases $ 33 $ 28 Right-of-use assets obtained in exchange for new lease liabilities Operating leases $ 34 $ 37

Non-controlling Interests (Tabl

Non-controlling Interests (Tables)	6 Months Ended
	Jul. 31, 2022
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 Continuing Limited Partners Total Core & Main Continuing Limited Partners Total Balances at January 30, 2022 167,522,403 75,344,408 242,866,811 69.0 % 31.0 % 100.0 % Issuance of Partnership Interests 8,276 — 8,276 — — — Exchange of Partnership Interests 432,916 (433,034) (118) 0.2 (0.2) — Forfeiture of Partnership Interests (20) — (20) — — — Vesting of Partnership Interests — 296,007 296,007 (0.1) 0.1 — Balances at July 31, 2022 167,963,575 75,207,381 243,170,956 69.1 % 30.9 % 100.0 %

Basic and Diluted Earnings Pe_2

Basic and Diluted Earnings Per Share (Tables)	6 Months Ended
	Jul. 31, 2022
Earnings Per Share [Abstract]
Schedule of basic and diluted earnings per share	The diluted net 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 July 23, 2021 through Basic earnings (loss) per share: July 31, 2022 July 31, 2022 August 1, 2021 Net income (loss) $ 182 $ 319 $ (37) Net income (loss) attributable to non-controlling interests 67 118 (17) Net income (loss) available to Class A common stock 115 201 (20) Weighted average shares outstanding 167,876,179 167,708,034 138,978,366 Net income (loss) per share $ 0.69 $ 1.20 $ (0.14) Diluted earnings (loss) per share: Net income (loss) available to common shareholders - basic $ 115 $ 201 $ (20) Increase to net income (loss) attributable to dilutive instruments 50 88 — Net income (loss) available to common shareholders - diluted 165 289 (20) Weighted average shares outstanding - basic 167,876,179 167,708,034 138,978,366 Incremental shares of common stock attributable to dilutive instruments 78,299,699 78,452,777 — Weighted average shares outstanding - diluted 246,175,878 246,160,811 138,978,366 Net income (loss) per share - diluted $ 0.67 $ 1.17 $ (0.14)
Schedule of antidilutive securities excluded from computation of earnings per share	The following table details shares, each weighted for the portion of the period for which they were outstanding, that were not included in the computation of diluted earnings (loss) per share because the effect would have been anti-dilutive: Three Months Ended Six Months Ended July 23, 2021 through July 31, 2022 July 31, 2022 August 1, 2021 Partnership Interest/Class B Shares — — 84,135,621 Stock appreciation rights — — 633,683 Total — — 84,769,304

Basis of Presentation & Descr_3

Basis of Presentation & Description of Business (Details)				6 Months Ended
	Jan. 10, 2022 $ / shares shares	Aug. 20, 2021 USD ($) $ / shares shares	Jul. 27, 2021 USD ($) $ / shares shares	Jul. 31, 2022 USD ($) state branch_location shares	Aug. 01, 2021 USD ($)	Jan. 30, 2022 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of branch locations | branch_location				300
Number of states with branches | state				48
Class of Stock and Other Items [Line Items]
IPO proceeds, net of underwriting discounts and commissions | $				$ 0	$ 664,000,000
Partnership Interests acquired from consolidated entity (in units) | shares		5,232,558	34,883,721
Partnership Interests acquired from consolidated entity | $			$ 656,000,000
Partnership Interests held (in units) | shares				167,963,575
Goodwill | $				$ 1,527,000,000		$ 1,515,000,000
Class A Common Stock
Class of Stock and Other Items [Line Items]
Public ownership interest (in shares) | shares				60,558,287
IPO
Class of Stock and Other Items [Line Items]
Stock offering price (in dollars per share) | $ / shares			$ 20
IPO proceeds, net of underwriting discounts and commissions | $			$ 664,000,000
Transaction costs directly attributable to the IPO Transaction | $			$ 8,000,000
IPO | Class A Common Stock
Class of Stock and Other Items [Line Items]
Number of shares issued (in share) | shares			34,883,721
Underwriter option
Class of Stock and Other Items [Line Items]
Stock offering price (in dollars per share) | $ / shares		$ 20
Underwriter option | Class A Common Stock
Class of Stock and Other Items [Line Items]
Number of shares issued (in share) | shares		5,232,558
Net proceeds after deducting underwriting discounts and commissions | $		$ 100,000,000
Secondary Offering | Class A Common Stock
Class of Stock and Other Items [Line Items]
Shares issued in exchange for Partnership Interests (in shares) | shares	7,455,242
Former Limited Partners | Class A Common Stock
Class of Stock and Other Items [Line Items]
Ownership interest (in shares) | shares				107,397,971
Continuing Limited Partners
Class of Stock and Other Items [Line Items]
Partnership Interests held (in units) | shares				77,930,404
Continuing Limited Partners | Class A Common Stock
Class of Stock and Other Items [Line Items]
Ownership interest (in shares) | shares				7,317
Continuing Limited Partners | Class B Common Stock
Class of Stock and Other Items [Line Items]
Ownership interest (in shares) | shares				77,930,404
Selling Stockholders | Secondary Offering
Class of Stock and Other Items [Line Items]
Stock offering price (in dollars per share) | $ / shares	$ 26
Selling Stockholders | Secondary Offering | Class A Common Stock
Class of Stock and Other Items [Line Items]
Number of shares issued (in share) | shares	20,000,000
Existing shares sold (in shares) | shares	12,544,758
Blocker Company
Class of Stock and Other Items [Line Items]
Goodwill | $			$ 330,000,000
Senior 2024 Notes | Senior notes
Class of Stock and Other Items [Line Items]
Repayment of senior debt | $			300,000,000
Senior 2025 Notes | Senior notes
Class of Stock and Other Items [Line Items]
Repayment of senior debt | $			750,000,000
Prior Term Loan Facility | Term loan
Class of Stock and Other Items [Line Items]
Repayment of senior debt | $			1,258,000,000
Aggregate principal amount | $			1,300,000,000
Senior Term Loan Facility | Term loan
Class of Stock and Other Items [Line Items]
Aggregate principal amount | $			$ 1,500,000,000
Debt instrument term (in years)			7 years

Revenue (Details)

Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 31, 2022	Aug. 01, 2021	Jul. 31, 2022	Aug. 01, 2021
Disaggregation of Revenue [Line Items]
Total net sales	$ 1,861	$ 1,298	$ 3,459	$ 2,353
Pipes, valves & fittings products
Disaggregation of Revenue [Line Items]
Total net sales	1,291	888	2,401	1,593
Storm drainage products
Disaggregation of Revenue [Line Items]
Total net sales	266	173	475	303
Fire protection products
Disaggregation of Revenue [Line Items]
Total net sales	192	138	364	257
Meter products
Disaggregation of Revenue [Line Items]
Total net sales	$ 112	$ 99	$ 219	$ 200

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) $ in Millions				6 Months Ended
	Jun. 28, 2022 USD ($) branch_location	Aug. 30, 2021 USD ($)	Aug. 09, 2021 USD ($) branch_location	Jul. 31, 2022 USD ($)	Jan. 30, 2022 USD ($)
Business Acquisition [Line Items]
Goodwill				$ 1,527	$ 1,515
L&M
Business Acquisition [Line Items]
Transaction value		$ 60
Goodwill		18
Intangible assets		$ 19
Pacific Pipe
Business Acquisition [Line Items]
Transaction value			$ 103
Number of branch locations acquired | branch_location			4
Goodwill			$ 41
Intangible assets			$ 47
2022 Acquisitions
Business Acquisition [Line Items]
Transaction value				$ 17
Earthsavers Erosion Control, LLC
Business Acquisition [Line Items]
Transaction value	$ 25
Number of branch locations acquired | branch_location	3
Net working capital	$ 9
Goodwill	9
Intangible assets	$ 7

Acquisitions - Allocation of Tr

Acquisitions - Allocation of Transaction Price (Details) - USD ($) $ in Millions	Jul. 31, 2022	Jun. 28, 2022	Jan. 30, 2022	Aug. 30, 2021	Aug. 09, 2021
Allocation of transaction price
Goodwill	$ 1,527		$ 1,515
L&M
Allocation of transaction price
Cash				$ 0
Accounts receivable				7
Inventories				16
Intangible assets				19
Goodwill				18
Operating lease right-of-use assets				2
Other assets, current and non-current				5
Total assets acquired				67
Accounts payable				3
Deferred income taxes				0
Operating lease liabilities				2
Net assets acquired				$ 62
Pacific Pipe
Allocation of transaction price
Cash					$ 2
Accounts receivable					10
Inventories					17
Intangible assets					47
Goodwill					41
Operating lease right-of-use assets					17
Other assets, current and non-current					6
Total assets acquired					140
Accounts payable					5
Deferred income taxes					12
Operating lease liabilities					17
Net assets acquired					$ 106
Earthsavers Erosion Control, LLC
Allocation of transaction price
Intangible assets		$ 7
Goodwill		$ 9

Acquisitions - Total Considerat

Acquisitions - Total Consideration and Net Assets Acquired (Details) - USD ($) $ in Millions	Aug. 30, 2021	Aug. 09, 2021
Pacific Pipe
Total consideration and net assets acquired
Total consideration, net of cash		$ 104
Plus: Cash acquired in acquisition		2
Net assets acquired; investing cash outflow		$ 106
L&M
Total consideration and net assets acquired
Total consideration, net of cash	$ 62
Plus: Cash acquired in acquisition	0
Net assets acquired; investing cash outflow	$ 62

Acquisitions - Pro Forma Financ

Acquisitions - Pro Forma Financial Information (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Aug. 01, 2021	Aug. 01, 2021
Pro forma financial information
Net sales	$ 1,335	$ 2,424
Net income	$ 15	$ 44

Acquisitions - Intangible Asset

Acquisitions - Intangible Assets (Details) - USD ($) $ in Millions	Aug. 30, 2021	Aug. 09, 2021
L&M | Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible Asset Amount	$ 19
Amortization Period	10 years
Discount Rate	15.50%
Attrition Rate	15%
Pacific Pipe | Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible Asset Amount		$ 46
Amortization Period		10 years
Discount Rate		11.50%
Attrition Rate		10%
Pacific Pipe | Trademark
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible Asset Amount		$ 1
Amortization Period		2 years
Discount Rate		11.50%

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Goodwill Balance (Details) - USD ($) $ in Millions	Jul. 31, 2022	Jan. 30, 2022
Goodwill:
Gross Goodwill	$ 1,527	$ 1,515
Accumulated Impairment	0	0
Goodwill	$ 1,527	$ 1,515

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Goodwill Rollforward (Details) $ in Millions	6 Months Ended
	Jul. 31, 2022 USD ($)
Goodwill changes:
Goodwill, beginning balance	$ 1,515
Goodwill acquired during the year	12
Goodwill, ending balance	$ 1,527

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Millions	Jul. 31, 2022	Jan. 30, 2022
Intangible assets, net:
Gross Intangible	$ 1,363	$ 1,351
Accumulated Amortization	539	480
Net Intangible	824	871
Customer relationships
Intangible assets, net:
Gross Intangible	1,359	1,347
Accumulated Amortization	537	478
Net Intangible	822	869
Other intangible assets
Intangible assets, net:
Gross Intangible	4	4
Accumulated Amortization	2	2
Net Intangible	$ 2	$ 2

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. 31, 2022	Aug. 01, 2021	Jul. 31, 2022	Aug. 01, 2021
Amortization expense related to intangible assets:
Amortization expense	$ 29	$ 29	$ 59	$ 58

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets - Estimated Aggregate Amortization Expense (Details) $ in Millions	Jul. 31, 2022 USD ($)
Estimated prospective aggregate amortization expense:
Fiscal 2022	$ 59
Fiscal 2023	110
Fiscal 2024	102
Fiscal 2025	94
Fiscal 2026	$ 87

Debt - Summary of Debt (Details

Debt - Summary of Debt (Details) - USD ($) $ in Millions	Jul. 31, 2022	Jan. 30, 2022
Debt Instrument [Line Items]
Long-term debt, Principal	$ 1,612	$ 1,478
Unamortized Discount and Debt Issuance Costs	20	22
Long-term Debt	1,627	1,493
Senior ABL Credit Facility due July 2026 | Revolving credit facility
Debt Instrument [Line Items]
Long-term debt, Principal	142	0
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	1,470	1,478
Unamortized Discount and Debt Issuance Costs	$ 20	$ 22

Debt - Debt Agreements Narrativ

Debt - Debt Agreements Narrative (Details) - USD ($)		6 Months Ended
	Jul. 29, 2022	Jul. 31, 2022
Senior Term Loan Facility | Term loan
Debt Instrument [Line Items]
Periodic payment as a percentage of original principal		0.25%
LIBOR floor (percent)		0%
Weighted average interest rate (percent)		4.64%
Debt covenant, consolidated secured leverage ratio		3.25
Senior Term Loan Facility | Term loan | LIBOR
Debt Instrument [Line Items]
Applicable margin (percent)		2.50%
Senior Term Loan Facility | Term loan | Federal funds rate, base rate
Debt Instrument [Line Items]
Applicable margin (percent)		0.50%
Senior Term Loan Facility | Term loan | LIBOR, base rate
Debt Instrument [Line Items]
Applicable margin (percent)		1%
Senior Term Loan Facility | Term loan | Base rate, margin
Debt Instrument [Line Items]
Applicable margin (percent)		1.50%
Senior Term Loan Facility | Term loan | Level 2
Debt Instrument [Line Items]
Fair value of debt		$ 1,431,000,000
Senior ABL Credit Facility | Term loan
Debt Instrument [Line Items]
Weighted average interest rate (percent)		3.61%
Senior ABL Credit Facility | Revolving credit facility
Debt Instrument [Line Items]
Aggregate commitments	$ 1,250,000,000
Fee on unfunded commitments (percent)		0.25%
Amount outstanding		$ 142,000,000
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 | Revolving credit facility | Alternate base rate | Minimum
Debt Instrument [Line Items]
Applicable margin (percent)		0.25%
Senior ABL Credit Facility | Revolving credit facility | Alternate base rate | Maximum
Debt Instrument [Line Items]
Applicable margin (percent)		0.75%
Senior ABL Credit Facility | Revolving credit facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Minimum
Debt Instrument [Line Items]
Applicable margin (percent)		1.25%
Senior ABL Credit Facility | Revolving credit facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Maximum
Debt Instrument [Line Items]
Applicable margin (percent)		1.75%
ABL Credit Facility Due July 2026 [Member] | Revolving credit facility
Debt Instrument [Line Items]
Increase in aggregate commitments	$ 400,000,000

Debt - Aggregate Future Debt Pa

Debt - Aggregate Future Debt Payments (Details) $ in Millions	Jul. 31, 2022 USD ($)
Aggregate future debt payments
Fiscal 2022	$ 7
Fiscal 2023	15
Fiscal 2024	15
Fiscal 2025	15
Fiscal 2026	$ 157

Debt - Interest Rate Swaps Narr

Debt - Interest Rate Swaps Narrative (Details) - USD ($) $ in Millions		6 Months Ended
	Jul. 27, 2021	Jul. 31, 2022	Jul. 27, 2025	Jul. 27, 2024	Jul. 27, 2023	Jan. 30, 2022	Feb. 28, 2018
Net old interest rate swap gain, net of tax | Cash flow
Derivative [Line Items]
Fixed interest rate (percent)							2.725%
Notional amount							$ 500
Net new interest rate swap loss, net of tax
Derivative [Line Items]
Fair value of this cash flow interest rate swap asset		$ 65				$ 31
Net new interest rate swap loss, net of tax | Cash flow
Derivative [Line Items]
Fixed interest rate (percent)	0.74%	0.74%
Notional amount	$ 1,000
Net new interest rate swap loss, net of tax | Cash flow | Forecast
Derivative [Line Items]
Notional amount			$ 700	$ 800	$ 900
Prior Term Loan Facility | Term loan
Derivative [Line Items]
Repayment of senior debt	$ 1,258
Senior Term Loan Facility | Term loan
Derivative [Line Items]
Effective fixed rate (percent)		3.24%
Hedged borrowings		$ 1,000
Senior Term Loan Facility | Term loan | LIBOR
Derivative [Line Items]
Applicable margin (percent)		2.50%

Debt - Accumulated Other Compre

Debt - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 31, 2022	Aug. 01, 2021	Jul. 31, 2022	Aug. 01, 2021
Accumulated Other Comprehensive Income
Beginning balance	$ 2,006		$ 1,831
Tax expense on interest rate swap adjustments
Ending balance	2,165	$ 1,548	2,165	$ 1,548
Net old interest rate swap gain, net of tax
Accumulated Other Comprehensive Income
Reclassification of expense to interest expense		2		4
Loss on debt modification and extinguishment		5		5
Tax expense on interest rate swap adjustments
Reclassification of expense to interest expense		(1)		(1)
Loss on debt modification and extinguishment		0		0
Net new interest rate swap loss, net of tax
Accumulated Other Comprehensive Income
Measurement adjustment (losses) for interest rate swap	(10)	(2)	34	(2)
Reclassification of expense to interest expense	(1)	0	0	0
Tax expense on interest rate swap adjustments
Measurement adjustment (losses) for interest rate swap	2	0	(6)	0
Reclassification of expense to interest expense	0	0	0	0
Accumulated other comprehensive loss, cash flow hedge | Net old interest rate swap gain, net of tax
Accumulated Other Comprehensive Income
Beginning balance		(6)		(8)
Tax expense on interest rate swap adjustments
Ending balance		0		0
Accumulated other comprehensive loss, cash flow hedge | Net new interest rate swap loss, net of tax
Accumulated Other Comprehensive Income
Beginning balance	63	0	26	0
Tax expense on interest rate swap adjustments
Ending balance	$ 54	$ (2)	$ 54	$ (2)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended		6 Months Ended
	Jul. 31, 2022	Jul. 31, 2022	Aug. 01, 2021	Jul. 31, 2022	Aug. 01, 2021	Jul. 29, 2022	Jan. 30, 2022
Income Taxes [Line Items]
Effective tax rate (percent)		17.30%	24.60%	17.60%	20.10%
Percent of Company realized tax benefits payable to Limited Partners pursuant to Tax Receivable Agreements	85%	85%		85%
Pro forma tax rate per agreements (percent)	25.10%	25.10%		25.10%
Former Limited Partners
Income Taxes [Line Items]
Payable to related parties pursuant to Tax Receivable Agreements	$ 92	$ 92		$ 92			$ 92
Current payable to related parties pursuant to Tax Receivable Agreements	6	6		6
Continuing Limited Partners
Income Taxes [Line Items]
Payable to related parties pursuant to Tax Receivable Agreements	62	62		62			$ 61
Estimated deferred tax asset target per agreement	629	629		629
Estimated tax liability per agreement	535	$ 535		$ 535
Estimated increase in deferred tax liability due to exchange of Partnership Interests	$ 151
Class A Common Stock
Income Taxes [Line Items]
Closing stock price (in dollars per share)						$ 24.14

Supplemental Financial Statem_3

Supplemental Financial Statement Information - Receivables (Details) - USD ($) $ in Millions	Jul. 31, 2022	Jan. 30, 2022
Total Receivables, net
Trade receivables, net of allowance for credit losses	$ 1,178	$ 784
Supplier rebate receivables	86	100
Receivables, net of allowance for credit losses	$ 1,264	$ 884

Supplemental Financial Statem_4

Supplemental Financial Statement Information - Depreciation Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 31, 2022	Aug. 01, 2021	Jul. 31, 2022	Aug. 01, 2021
Depreciation expense related to property and equipment, including capitalized software
Depreciation expense	$ 5	$ 5	$ 11	$ 11

Supplemental Financial Statem_5

Supplemental Financial Statement Information - Accrued Compensation and Benefits (Details) - USD ($) $ in Millions	Jul. 31, 2022	Jan. 30, 2022
Accrued Compensation and Benefits
Accrued bonuses and commissions	$ 66	$ 85
Other compensation and benefits	24	24
Accrued compensation and benefits	$ 90	$ 109

Supplemental Financial Statem_6

Supplemental Financial Statement Information - Other Current Liabilities (Details) - USD ($) $ in Millions	Jul. 31, 2022	Jan. 30, 2022
Other Current Liabilities
Accrued non-income taxes	$ 32	$ 19
Accrued income taxes	26	12
Other	38	27
Other current liabilities	$ 96	$ 58

Supplemental Financial Statem_7

Supplemental Financial Statement Information - Cash and Non-cash Impacts Associated with Leases (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 31, 2022	Aug. 01, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Operating cash flows from operating leases	$ 33	$ 28
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 34	$ 37

Non-controlling Interests (Deta

Non-controlling Interests (Details) - Holdings - shares			6 Months Ended
	May 01, 2022	Jan. 30, 2022	Jul. 31, 2022
Partnership Interests
Partnership Interests (in units)		242,866,811	243,170,956
Issuance of Partnership Interests (in units)			8,276
Exchange of Partnership Interests (in units)			(118)
Forfeiture of Partnership Interests (in units)			(20)
Vesting of Partnership Interests (in units)			296,007
Ownership Percentage
Ownership Percentage	100%	100%
Issuance of Partnership Interests (percent)			0%
Exchange of Partnership Interests (percent)			0%
Forfeiture of Partnership Interests (percent)			0%
Vesting of Partnership Interests (percent)			0%
Core & Main
Partnership Interests
Partnership Interests (in units)		167,522,403	167,963,575
Issuance of Partnership Interests (in units)			8,276
Exchange of Partnership Interests (in units)			432,916
Forfeiture of Partnership Interests (in units)			(20)
Vesting of Partnership Interests (in units)			0
Ownership Percentage
Ownership Percentage	69.10%	69%
Issuance of Partnership Interests (percent)			0%
Exchange of Partnership Interests (percent)			0.20%
Forfeiture of Partnership Interests (percent)			0%
Vesting of Partnership Interests (percent)			(0.10%)
Continuing Limited Partners
Partnership Interests
Partnership Interests (in units)		75,344,408	75,207,381
Issuance of Partnership Interests (in units)			0
Exchange of Partnership Interests (in units)			(433,034)
Forfeiture of Partnership Interests (in units)			0
Vesting of Partnership Interests (in units)			296,007
Ownership Percentage
Ownership Percentage	30.90%	31%
Issuance of Partnership Interests (percent)			0%
Exchange of Partnership Interests (percent)			(0.20%)
Forfeiture of Partnership Interests (percent)			0%
Vesting of Partnership Interests (percent)			0.10%

Basic and Diluted Earnings Pe_3

Basic and Diluted Earnings Per Share - Narrative (Details)	6 Months Ended
	Jul. 31, 2022 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
	Aug. 01, 2021	Jul. 31, 2022	May 01, 2022	Aug. 01, 2021		Jul. 22, 2021	May 02, 2021	Jul. 31, 2022	Aug. 01, 2021
Basic earnings (loss) per share:
Net income	$ (37)	$ 182	$ 137	$ 10		$ 47	$ 27	$ 319	$ 37
Net income (loss) attributable to non-controlling interests	(17)	67		$ (17)				118	$ (17)
Net income (loss) available to Class A common stock	$ (20)	$ 115						$ 201
Weighted average shares outstanding - basic (in shares)	138,978,366	167,876,179		138,978,366	[1]			167,708,034	138,978,366	[1]
Net income per share - basic (in dollars per share)	$ (0.14)	$ 0.69		$ (0.14)	[1]			$ 1.20	$ (0.14)	[1]
Diluted earnings (loss) per share:
Net income available to common shareholders - basic	$ (20)	$ 115						$ 201
Increase to net income (loss) attributable to dilutive instruments	0	50						88
Net income (loss) available to common shareholders - diluted	$ (20)	$ 165						$ 289
Weighted average shares outstanding - basic (in shares)	138,978,366	167,876,179		138,978,366	[1]			167,708,034	138,978,366	[1]
Incremental shares of common stock attributable to dilutive instruments (in shares)	0	78,299,699						78,452,777
Weighted average shares outstanding - diluted (in shares)	138,978,366	246,175,878		138,978,366	[1]			246,160,811	138,978,366	[1]
Net income per share - diluted (in dollars per share)	$ (0.14)	$ 0.67		$ (0.14)	[1]			$ 1.17	$ (0.14)	[1]
[1]For the three and six months ended August 1, 2021, this represents basic and diluted earnings per share of Class A common stock and weighted average shares of Class A common stock outstanding for the period from July 23, 2021 through August 1, 2021, which is the period following the Reorganization Transactions described in Note 1. Refer to calculation of earnings per share in Note 10.

Basic and Diluted Earnings Pe_5

Basic and Diluted Earnings Per Share - Anti-Dilutive Securities (Details) - shares		3 Months Ended	6 Months Ended
	Aug. 01, 2021	Jul. 31, 2022	Jul. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities not included in computation of diluted loss per share because the effect would have been anti-dilutive	84,769,304	0	0
Partnership Interest/Class B Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities not included in computation of diluted loss per share because the effect would have been anti-dilutive	84,135,621	0	0
Stock appreciation rights
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities not included in computation of diluted loss per share because the effect would have been anti-dilutive	633,683	0	0

Related Parties (Details)

Related Parties (Details) - Affiliates of CD&R - CD&R transactions - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 31, 2022	Aug. 01, 2021	Jul. 31, 2022	Aug. 01, 2021	Jan. 30, 2022
Related Party Transaction [Line Items]
Purchases of product from affiliates			$ 1	$ 1
Amounts payable to affiliates	$ 0		0		$ 0
Sales to affiliates	1		2	$ 5
Receivable from affiliates	0		$ 0		$ 0
Maximum
Related Party Transaction [Line Items]
Purchases of product from affiliates	$ 1	$ 1
Sales to affiliates		$ 1