SAIC(SAIC) - 2026 Q2 - Quarterly Report

PART I—FINANCIAL INFORMATION Item 1. Financial Statements This section presents the company's unaudited condensed consolidated financial statements, including statements of income, comprehensive income, balance sheets, equity, and cash flows, along with detailed notes explaining business operations, accounting policies, and specific financial line items Condensed Consolidated Statements of Income The company reported a significant increase in net income for the three months ended August 1, 2025, reaching $127 million, up from $81 million in the prior year, despite a slight decrease in revenues | Metric | Three Months Ended Aug 1, 2025 (in millions) | Three Months Ended Aug 2, 2024 (in millions) | Six Months Ended Aug 1, 2025 (in millions) | Six Months Ended Aug 2, 2024 (in millions) | |---|---|---|---|---| | Revenues | $1,769 | $1,818 | $3,646 | $3,665 | | Cost of revenues | $1,554 | $1,608 | $3,222 | $3,242 | | Operating income | $139 | $134 | $260 | $265 | | Net income | $127 | $81 | $195 | $158 | | Basic EPS | $2.72 | $1.59 | $4.14 | $3.08 | | Diluted EPS | $2.71 | $1.58 | $4.12 | $3.06 | Condensed Consolidated Statements of Comprehensive Income Comprehensive income for the three months ended August 1, 2025, was $125 million, an increase from $73 million in the prior year, primarily driven by higher net income | Metric | Three Months Ended Aug 1, 2025 (in millions) | Three Months Ended Aug 2, 2024 (in millions) | Six Months Ended Aug 1, 2025 (in millions) | Six Months Ended Aug 2, 2024 (in millions) | |---|---|---|---|---| | Net income | $127 | $81 | $195 | $158 | | Net unrealized (loss) gain on derivative instruments | $(2) | $(8) | $(3) | $(5) | | Total other comprehensive (loss) income, net of tax | $(2) | $(8) | $(3) | $(5) | | Comprehensive income | $125 | $73 | $192 | $153 | Condensed Consolidated Balance Sheets As of August 1, 2025, total assets were $5,201 million, a slight decrease from $5,246 million at January 31, 2025, with current assets increasing | Metric | August 1, 2025 (in millions) | January 31, 2025 (in millions) | |---|---|---| | Cash and cash equivalents | $48 | $56 | | Receivables, net | $951 | $1,000 | | Total current assets | $1,204 | $1,154 | | Goodwill | $2,851 | $2,851 | | Intangible assets, net | $721 | $779 | | Total assets | $5,201 | $5,246 | | Total current liabilities | $1,447 | $1,396 | | Debt, net of current portion | $1,844 | $1,907 | | Total stockholders' equity | $1,517 | $1,577 | | Total liabilities and stockholders' equity | $5,201 | $5,246 | Condensed Consolidated Statements of Equity Stockholders' equity decreased to $1,517 million as of August 1, 2025, from $1,577 million at January 31, 2025, primarily due to stock repurchases and cash dividends | Metric | Balance at January 31, 2025 (in millions) | Net income (in millions) | Cash dividends (in millions) | Repurchases of stock (in millions) | Balance at August 1, 2025 (in millions) | |---|---|---|---|---|---| | Total stockholders' equity | $1,577 | $195 | $(36) | $(234) | $1,517 | Condensed Consolidated Statements of Cash Flows Net cash provided by operating activities for the six months ended August 1, 2025, was $222 million, a decrease from $236 million in the prior year | Metric | Six Months Ended Aug 1, 2025 (in millions) | Six Months Ended Aug 2, 2024 (in millions) | |---|---|---| | Net income | $195 | $158 | | Depreciation and amortization | $71 | $69 | | Deferred income taxes | $109 | $(8) | | Net cash provided by operating activities | $222 | $236 | | Net cash used in investing activities | $(22) | $(16) | | Net cash used in financing activities | $(208) | $(267) | | Net decrease in cash, cash equivalents and restricted cash | $(8) | $(47) | Notes to Condensed Consolidated Financial Statements This section provides detailed disclosures on the company's business operations, significant accounting policies, financial performance metrics, and other financial instruments and obligations Note 1—Business Overview and Summary of Significant Accounting Policies The company is a leading provider of technical, engineering, and IT services primarily to the U.S. government, operating through Defense and Intelligence, and Civilian segments - The company is a leading provider of technical, engineering, and enterprise IT services primarily to the U.S. government. It integrates emerging technology into mission-critical operations, focusing on higher-end, differentiated technology services[22] - The company operates through two reportable segments: Defense and Intelligence (serving DoD and Intelligence Community) and Civilian (serving federal, state, and local governments)[23][24][25] - Key offerings include IT modernization, digital engineering, artificial intelligence (AI), mission systems support, training and simulation, and ground vehicles support. The Innovation Factory develops enterprise-class solutions with teams focused on AI, application development, network services, platforms and cloud, engineering, and cybersecurity[26][27] - The company adopted the annual disclosure requirements of ASU No. 2023-07, Segment Reporting, in fiscal 2025 and will adopt the interim disclosure requirements in fiscal 2026, enhancing disclosures about significant segment expenses[39] Note 2—Earnings Per Share, Share Repurchases and Dividends Diluted EPS for the three months ended August 1, 2025, was $2.71, up from $1.58, with the company repurchasing 2.1 million shares for $231 million | Metric | Three Months Ended Aug 1, 2025 (in millions) | Three Months Ended Aug 2, 2024 (in millions) | Six Months Ended Aug 1, 2025 (in millions) | Six Months Ended Aug 2, 2024 (in millions) | |---|---|---|---|---| | Basic weighted-average number of shares outstanding | 46.7 | 50.9 | 47.1 | 51.3 | | Diluted weighted-average number of shares outstanding | 46.8 | 51.2 | 47.3 | 51.7 | - During the six months ended August 1, 2025, the company repurchased approximately 2.1 million shares of its common stock from the open market for approximately $231 million[45] - The company declared and paid a quarterly dividend of $0.37 per share during the three months ended August 1, 2025, and subsequently declared another quarterly dividend of $0.37 per share payable on October 24, 2025[46] Note 3—Revenues Revenues decreased slightly due to contract completions, with net favorable adjustments positively impacting operating income and diluted EPS, and the majority of revenues from U.S. government cost reimbursement contracts | Metric | Three Months Ended Aug 1, 2025 (in millions) | Three Months Ended Aug 2, 2024 (in millions) | Six Months Ended Aug 1, 2025 (in millions) | Six Months Ended Aug 2, 2024 (in millions) | |---|---|---|---|---| | Net favorable (unfavorable) adjustments | $5 | $(1) | $3 | $0 | | Net favorable (unfavorable) adjustments, after tax | $6 | $(1) | $3 | $0 | | Diluted EPS impact | $0.13 | $(0.02) | $0.06 | $0.00 | | Customer (Three Months Ended Aug 1, 2025) | Defense and Intelligence (in millions) | Civilian (in millions) | Total SAIC (in millions) | |---|---|---|---| | Department of Defense | $920 | $2 | $922 | | Intelligence and other federal government agencies | $444 | $360 | $804 | | Commercial, state and local governments and international | $10 | $33 | $43 | | Total | $1,374 | $395 | $1,769 | | Contract Type (Three Months Ended Aug 1, 2025) | Defense and Intelligence (in millions) | Civilian (in millions) | Total SAIC (in millions) | |---|---|---|---| | Cost reimbursement | $1,093 | $13 | $1,106 | | Time and materials ("T&M") | $117 | $276 | $393 | | Firm-fixed price ("FFP") | $164 | $106 | $270 | | Total | $1,374 | $395 | $1,769 | - As of August 1, 2025, the company had approximately $6.1 billion in Remaining Performance Obligations (RPO), with 79% expected to be recognized over the next 12 months and 89% over the next 24 months[57] Note 4—Goodwill and Intangible Assets Goodwill remained stable at $2,851 million, while net intangible assets decreased to $721 million due to amortization expense | Metric | August 1, 2025 (in millions) | January 31, 2025 (in millions) | |---|---|---| | Goodwill - Defense and Intelligence | $2,001 | $2,001 | | Goodwill - Civilian | $850 | $850 | | Total Goodwill | $2,851 | $2,851 | | Intangible Assets | Net carrying value (Aug 1, 2025, in millions) | Net carrying value (Jan 31, 2025, in millions) | |---|---|---| | Customer relationships | $716 | $774 | | Developed technology | $5 | $5 | | Trade name | $0 | $0 | | Total intangible assets | $721 | $779 | - Amortization expense related to intangible assets was $29 million for the three months and $58 million for the six months ended August 1, 2025[60] Note 5—Income Taxes The effective income tax rate significantly decreased to (17.2)% due to an IRS audit settlement benefit and the reinstatement of immediate R&D expensing | Metric | Three Months Ended Aug 1, 2025 | Three Months Ended Aug 2, 2024 | Six Months Ended Aug 1, 2025 | Six Months Ended Aug 2, 2024 | |---|---|---|---|---| | Effective income tax rate | (17.2)% | 19.6% | (0.4)% | 19.3% | - The significant decrease in the effective tax rate was primarily due to a $47 million benefit from an IRS audit settlement covering fiscal years 2016 through 2019 and decreases in liabilities for uncertain tax positions[62] - The "One Big Beautiful Bill Act," enacted July 4, 2025, permanently reinstated the immediate expensing of U.S. research and development expenditures, which the company expects will result in a cash tax benefit in the current year[63] Note 6—Debt Obligations Total debt increased to $2,292 million, with the company actively managing its Revolving Credit Facility and remaining in compliance with covenants | Debt Type | August 1, 2025 (Net, in millions) | January 31, 2025 (Net, in millions) | Stated Interest Rate (Aug 1, 2025) | |---|---|---|---| | Term Loan A Facility due June 2027 | $1,074 | $1,120 | 5.71% | | Term Loan B3 Facility due February 2031 | $501 | $503 | 6.11% | | Senior Notes due April 2028 | $397 | $397 | 4.88% | | Revolving Credit Facility due June 2027 | $320 | $200 | 6.31% | | Total debt | $2,292 | $2,220 | | - During the six months ended August 1, 2025, the company borrowed $1.3 billion and repaid $1.2 billion under the Revolving Credit Facility[67] - The company was in compliance with the covenants under its Credit Facility as of August 1, 2025[68] Note 7—Derivative Instruments Designated as Cash Flow Hedges The company uses fixed interest rate swap instruments as cash flow hedges to manage interest rate risks, with the fair value of the swap asset decreasing to $2 million | Derivative Type | Notional Amount (Aug 1, 2025, in millions) | Fair Value of Asset (Aug 1, 2025, in millions) | Fair Value of Asset (Jan 31, 2025, in millions) | |---|---|---|---| | Interest rate swaps | $685 | $2 | $6 | - The company expects to reclassify $2 million of unrealized gains from accumulated other comprehensive income into earnings from August 2, 2025, until the interest rate swaps mature on October 31, 2025[71] Note 8—Changes in Accumulated Other Comprehensive Income (Loss) by Component Accumulated other comprehensive income decreased to $9 million, primarily due to reclassifications from unrealized gains on interest rate swap cash flow hedges into earnings | Metric | Balance at January 31, 2025 (in millions) | Net other comprehensive loss (6 months ended Aug 1, 2025, in millions) | Balance at August 1, 2025 (in millions) | |---|---|---|---| | Total Accumulated other comprehensive income (loss) | $12 | $(3) | $9 | - Amounts reclassified from accumulated other comprehensive income into earnings for the six months ended August 1, 2025, were $(5) million, included in "Interest expense, net"[73] Note 9—Sales of Receivables The company utilizes a MARPA Facility to sell eligible U.S. government receivables, with $240 million outstanding as of August 1, 2025, incurring $7 million in purchase discount fees - The company has a Master Accounts Receivable Purchase Agreement (MARPA Facility) for the sale of up to $300 million of certain designated eligible receivables with the U.S. government[74] | Metric | Six Months Ended Aug 1, 2025 (in millions) | Six Months Ended Aug 2, 2024 (in millions) | |---|---|---| | Purchase discount fees | $7 | $7 | | Outstanding balance sold to Purchaser | $265 | $175 | | Remaining sold receivables | $240 | $144 | Note 10—Business Segments Information The company operates through Defense and Intelligence and Civilian segments, with performance evaluated based on revenues and adjusted operating income, and labor base as a significant expense - The company's two reportable segments are Defense and Intelligence and Civilian, defined by how the CEO (CODM) manages operations for resource allocation and performance assessment[78] - Segment operating performance is evaluated using "Revenues" and "Adjusted operating income (loss)," which excludes non-recurring transactions. Labor base is identified as a significant expense regularly provided to the CODM[83] | Segment (Three Months Ended Aug 1, 2025) | Revenues (in millions) | Labor base (in millions) | Adjusted operating income (loss) (in millions) | |---|---|---|---| | Defense and Intelligence | $1,374 | $410 | $124 | | Civilian | $395 | $124 | $54 | | Corporate | $0 | $0 | $4 | | Total SAIC | $1,769 | $534 | $182 | Note 11—Legal Proceedings and Other Commitments and Contingencies The company is involved in various legal proceedings, including a DOJ antitrust investigation and a patent infringement case that resulted in a favorable $15 million settlement - The company is cooperating with a U.S. Department of Justice, Antitrust Division criminal investigation, having received Federal Grand Jury Subpoenas in April 2022 and October 2023[89] - In July 2025, the company executed a favorable settlement agreement for a patent infringement complaint, recovering $15 million and recognizing $9 million as a recovery for previously incurred costs[90] - The company is routinely subject to government investigations, audits, and reviews, and believes it has adequately reserved for estimated net amounts to be refunded to customers for potential adjustments[91][93][95] Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations This section provides management's perspective on the company's financial condition, results of operations, and future outlook, detailing revenue trends, segment performance, and liquidity Business Overview SAIC is a leading technology integrator for the U.S. government, providing full life cycle services and solutions in technical, engineering, and IT markets through its Defense and Intelligence and Civilian segments - SAIC is a leading technology integrator providing full life cycle services and solutions in technical, engineering, and enterprise IT markets, primarily to the U.S. government[99] - The company serves customers through approximately 1,700 active contracts and task orders and employs approximately 24,000 individuals[99] - The company's two reportable segments are Defense and Intelligence (serving DoD and Intelligence Community) and Civilian (serving federal, state, and local governments), integrating emerging technologies like IT modernization, digital engineering, and AI[100][101][102][103] Economic Opportunities, Challenges, and Risks The company's performance is highly dependent on U.S. government spending, with recent legislative actions providing funding certainty, but risks include potential government shutdowns and increased competition - 98% of the company's revenues are generated from contracts with the U.S. government, making its business performance highly dependent on government spending and budget priorities[106] - A March 2025 continuing resolution extends government funding through GFY 2025, providing budget certainty and flexibility for new DoD program starts[106] - A July 2025 budget reconciliation package adds approximately $150 billion in new non-border defense spending and $175 billion in new border security and enforcement spending, increasing opportunities in areas like Naval operations and border surveillance[107] - Risks include potential government shutdowns, adverse fiscal and economic conditions (e.g., inflation, spending reductions), and increased competition from competitive bidding processes and small business prime set-aside contracts[108][111][113] Management of Operating Performance and Reporting Management evaluates consolidated results using revenues, operating income, adjusted operating income, adjusted EBITDA, and operating cash flows, closely monitoring contract margin performance and cost mix - Primary financial measures for evaluating consolidated results include revenues, operating income, adjusted operating income, adjusted EBITDA, and operating cash flows[117] - Management monitors contract margin performance, updates estimates, and analyzes cost mix (labor, subcontractor, and materials) to understand operating margins, noting that programs with a higher proportion of SAIC labor are generally more profitable[116][117] Condensed Consolidated Results of Operations Revenues decreased slightly, while operating income as a percentage of revenues increased for the three months but decreased for the six months, and net income significantly increased due to an IRS audit settlement benefit | Metric | Three Months Ended Aug 1, 2025 (in millions) | Three Months Ended Aug 2, 2024 (in millions) | Six Months Ended Aug 1, 2025 (in millions) | Six Months Ended Aug 2, 2024 (in millions) | |---|---|---|---|---| | Revenues | $1,769 | $1,818 | $3,646 | $3,665 | | Operating income | $139 | $134 | $260 | $265 | | Operating income as a percentage of revenues | 7.9% | 7.4% | 7.1% | 7.2% | | Net income | $127 | $81 | $195 | $158 | - Revenues decreased $49 million (3%) for the three months and $19 million (1%) for the six months ended August 1, 2025, primarily due to contract completions and ramp-down in volume on existing contracts[120] - Operating income as a percentage of revenues increased for the three months due to improved profitability and a patent infringement settlement recovery, but decreased for the six months due to costs related to federal tax audit settlements and the indirect rates impact of state taxes related to the One Big Beautiful Bill Act[121][122] - The effective income tax rate significantly decreased to (17.2)% for the three months and (0.4)% for the six months, primarily due to a $47 million benefit from an IRS audit settlement[123] Segment and Corporate Results Defense and Intelligence segment revenues decreased, while Civilian segment revenues saw mixed results, with both segments showing improved adjusted operating income percentages due to better contract profitability | Segment (Three Months Ended Aug 1, 2025) | Revenues (in millions) | Adjusted Operating Income (in millions) | Adjusted Operating Income as % of Revenues | |---|---|---|---| | Defense and Intelligence | $1,374 | $124 | 9.0% | | Civilian | $395 | $54 | 13.7% | | Corporate | $0 | $4 | N/A | - Defense and Intelligence segment revenues decreased by $41 million (3%) for the three months and $44 million (2%) for the six months, primarily due to contract completions and ramp-downs[126][127] - Civilian segment revenues decreased by $8 million (2%) for the three months but increased by $25 million (3%) for the six months, with adjusted operating income as a percentage of revenues increasing for both periods due to improved contract profitability[129][130] - Corporate adjusted operating income was $4 million for the three months ended August 1, 2025, compared to an adjusted operating loss of $1 million in the prior year, primarily due to a recovery of costs from a patent infringement settlement[132] Non-GAAP Measures The company uses non-GAAP measures like adjusted operating income and adjusted EBITDA to provide insights into ongoing operating performance, showing increases as a percentage of revenues due to improved contract profitability - Non-GAAP measures, including adjusted operating income, EBITDA, and adjusted EBITDA, are used to evaluate financial performance by excluding non-recurring transactions and activities not indicative of ongoing operations[134][135][137][138] | Metric | Three Months Ended Aug 1, 2025 (in millions) | Three Months Ended Aug 2, 2024 (in millions) | Six Months Ended Aug 1, 2025 (in millions) | Six Months Ended Aug 2, 2024 (in millions) | |---|---|---|---|---| | Adjusted operating income | $182 | $169 | $340 | $334 | | Adjusted operating income as a percentage of revenues | 10.3% | 9.3% | 9.3% | 9.1% | | EBITDA | $177 | $169 | $333 | $336 | | Adjusted EBITDA | $185 | $170 | $342 | $336 | | Adjusted EBITDA as a percentage of revenues | 10.5% | 9.4% | 9.4% | 9.2% | - Adjusted operating income and adjusted EBITDA as a percentage of revenues increased for both three and six months ended August 1, 2025, driven by improved contract profitability and the patent infringement settlement recovery, partially offset by state tax impacts from the One Big Beautiful Bill Act[140][141] Other Key Performance Measures Total backlog increased to $23,172 million, with net bookings of $2.6 billion for the three months, and the company aims for higher profitability through a greater proportion of SAIC labor - Bookings and backlog are key measures for management and investors to evaluate potential future revenues[142] | Backlog Category | August 1, 2025 (in millions) | January 31, 2025 (in millions) | |---|---|---| | Funded backlog | $3,594 | $3,444 | | Negotiated unfunded backlog | $19,578 | $18,413 | | Total backlog | $23,172 | $21,857 | - Net bookings were an estimated $2.6 billion for the three months and $5.0 billion for the six months ended August 1, 2025[146] | Contract Type (Three Months Ended Aug 1, 2025) | Defense and Intelligence (%) | Civilian (%) | Total SAIC (%) | |---|---|---|---| | Cost reimbursement | 79% | 3% | 63% | | Time and materials ("T&M") | 9% | 70% | 22% | | Firm-fixed price ("FFP") | 12% | 27% | 15% | - Contracts performed with a higher proportion of SAIC labor are generally more profitable, and the company analyzes its cost mix (labor, subcontractor, and materials) to understand operating margin[150] Liquidity and Capital Resources The company expects to fund operations and investments using cash on hand, future operating cash flows, and borrowings from its Revolving Credit Facility and MARPA Facility, considering operating cash flows and financial leverage - The company expects to fund ongoing working capital, commitments, and discretionary investments with cash on hand, future operating cash flows, and borrowings under its $1.0 billion Revolving Credit Facility and $300 million MARPA Facility[151] - Future cash needs include working capital, capital expenditures, and contractual commitments, with the capital deployment strategy considering operating cash flows, free cash flow, and financial leverage[152] Historical Cash Flow Trends Net cash provided by operating activities decreased by $14 million for the six months ended August 1, 2025, compared to the prior year, mainly due to timing of customer collections and vendor payments, partially offset by higher cash from the MARPA Facility and lower incentive-based compensation | Metric | Six Months Ended Aug 1, 2025 (in millions) | Six Months Ended Aug 2, 2024 (in millions) | |---|---|---| | Net cash provided by operating activities | $222 | $236 | | Net cash used in investing activities | $(22) | $(16) | | Net cash used in financing activities | $(208) | $(267) | | Net decrease in cash, cash equivalents and restricted cash | $(8) | $(47) | - Net cash provided by operating activities decreased $14 million, primarily due to timing of customer collections and vendor payments, partially offset by higher cash provided by the MARPA Facility and lower incentive-based compensation payments[154] - Net cash used in financing activities decreased $59 million, primarily due to lower plan share repurchases and higher proceeds from borrowings, net of principal payments[156] Critical Accounting Policies and Estimates No changes to the company's critical accounting policies and estimates were reported during the six months ended August 1, 2025 - No changes to critical accounting policies and estimates were reported for the six months ended August 1, 2025[157] Recently Issued But Not Yet Adopted Accounting Pronouncements Information on recently issued but not yet adopted accounting pronouncements is detailed in Note 1 to the condensed consolidated financial statements - Information on recently issued but not yet adopted accounting pronouncements is detailed in Note 1 of the condensed consolidated financial statements[158] Item 3. Quantitative and Qualitative Disclosures About Market Risk No material changes to the company's market risks were reported from those discussed in its most recently filed Annual Report on Form 10-K - No material changes to market risks were reported compared to the most recently filed Annual Report on Form 10-K[159] Item 4. Controls and Procedures Management, with the CEO and CFO's participation, concluded that the company's disclosure controls and procedures were effective as of August 1, 2025. No material changes in internal control over financial reporting occurred during the quarter - Disclosure controls and procedures were evaluated and deemed effective as of August 1, 2025[160] - No material changes in internal control over financial reporting occurred during the quarterly period covered by this report[161] PART II—OTHER INFORMATION Item 1. Legal Proceedings The company's legal proceedings information, including an update on government investigations and audits, is incorporated by reference from Note 11 to the condensed consolidated financial statements and the fiscal 2025 Annual Report on Form 10-K - Information about legal proceedings and government investigations/audits is updated in Note 11 to the condensed consolidated financial statements and incorporated by reference[163][164] Item 1A. Risk Factors No material changes to risk factors were reported from the most recently filed Annual Report on Form 10-K. However, new risks related to trade restrictions, including tariffs and global political volatility, could adversely affect business operations and financial performance by increasing costs or hindering market access - No material changes from the risk factors disclosed in the most recently filed Annual Report on Form 10-K were reported[165] - New risks related to trade restrictions, including economic tariffs and trade war initiatives, may adversely affect business operations and financial performance by increasing costs for raw materials or hindering the capacity to procure materials from international suppliers or sell products in foreign markets[166] Item 2. Unregistered Sales of Equity Securities and Use of Proceeds The company repurchased 950,840 shares of common stock during the three months ended August 1, 2025, at an average price of $112.09 per share, under its established repurchase plans. As of August 1, 2025, approximately $2.3 billion worth of shares have been repurchased under the program | Period | Total Number of Shares Purchased | Average Price Paid per Share | |---|---|---| | May 3, 2025 - June 6, 2025 | 402,627 | $114.26 | | June 7, 2025 - July 4, 2025 | 284,578 | $107.06 | | July 5, 2025 - August 1, 2025 | 263,635 | $114.20 | | Total (3 months ended Aug 1, 2025) | 950,840 | $112.09 | - As of August 1, 2025, the company has repurchased approximately 26.6 million shares of common stock for approximately $2.3 billion under its share repurchase plan[172] Item 3. Defaults Upon Senior Securities No information is required in response to this item - No information is required in response to this item[169] Item 4. Mine Safety Disclosures No information is required in response to this item - No information is required in response to this item[170] Item 5. Other Information No director or officer adopted or terminated a "Rule 10b5-1 trading arrangement" or a "non-Rule 10b5-1 trading arrangement" during the three months ended August 1, 2025 - No Rule 10b5-1 trading arrangements or non-Rule 10b5-1 trading arrangements were adopted or terminated by any director or officer during the three months ended August 1, 2025[171] Item 6. Exhibits This section lists the exhibits filed with the Form 10-Q, including certifications from the CEO and CFO under the Sarbanes-Oxley Act and interactive data files - Exhibits include certifications of the Chief Executive Officer and Chief Financial Officer pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act of 2002, and Interactive Data Files[173][175]