XML 59 R50.htm IDEA: XBRL DOCUMENT v3.22.2.2
Long-term Debt and Borrowing Facilities - Narrative (Details)
$ in Millions
3 Months Ended 9 Months Ended
Aug. 02, 2021
USD ($)
Oct. 29, 2022
USD ($)
Oct. 30, 2021
USD ($)
Oct. 29, 2022
USD ($)
Oct. 30, 2021
USD ($)
Jul. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Cash paid for interest       $ 29 $ 0    
Borrowings from Asset-based Revolving Credit Facility       267 0    
Interest expense   $ 15 $ 12 41 16    
Former Parent              
Spinoff transactions, cash payment to parent $ 976            
Due to former parent, noncurrent             $ 97
Interest expense         $ 2    
Credit Facility              
Proceeds from issuance of notes 384            
Term Loan due August 2028 | Term Loan              
Debt issuance costs 10            
Term loan B credit facility $ 400            
Periodic principal payment, percent 0.0025            
Debt instrument, principal payment   1   3      
Term Loan due August 2028 | London Interbank Offered Rate (LIBOR) | Term Loan              
Percentage spread over variable base rate 3.25%            
Term Loan due August 2028 | Base Rate | Term Loan              
Percentage spread over variable base rate 2.25%            
Term Loan due August 2028 | Interest Rate Floor | Term Loan              
Percentage spread over variable base rate 0.50%            
Asset-based Revolving Credit Facility due August 2026 (“ABL Facility”) | Revolving Credit Facility              
Debt issuance costs $ 6            
Maximum borrowing capacity $ 750            
Line of credit   267   267      
Borrowings from Asset-based Revolving Credit Facility   267          
Line of credit facility, remaining borrowing capacity   441   441      
Asset-based Revolving Credit Facility due August 2026 (“ABL Facility”) | Minimum | Revolving Credit Facility              
Commitment fee percentage, unused capacity 0.25%            
Asset-based Revolving Credit Facility due August 2026 (“ABL Facility”) | Maximum | Revolving Credit Facility              
Commitment fee percentage, unused capacity 0.30%            
Asset-based Revolving Credit Facility due August 2026 (“ABL Facility”) | Average Daily Excess Availability | LIBOR and CDOR Loans | Minimum | Revolving Credit Facility              
Percentage spread over variable base rate 1.50%            
Asset-based Revolving Credit Facility due August 2026 (“ABL Facility”) | Average Daily Excess Availability | LIBOR and CDOR Loans | Maximum | Revolving Credit Facility              
Percentage spread over variable base rate 2.00%            
Asset-based Revolving Credit Facility due August 2026 (“ABL Facility”) | Average Daily Excess Availability | Alternate Base Rate Loans and Canadian Base Rate Loans | Minimum | Revolving Credit Facility              
Percentage spread over variable base rate 0.50%            
Asset-based Revolving Credit Facility due August 2026 (“ABL Facility”) | Average Daily Excess Availability | Alternate Base Rate Loans and Canadian Base Rate Loans | Maximum | Revolving Credit Facility              
Percentage spread over variable base rate 1.00%            
Asset-based Revolving Credit Facility due August 2026 (“ABL Facility”) | Letter of Credit              
Line of credit   42   42      
With Subsidiary Guarantee | 4.625% Fixed Interest Rate Secured Notes due July 2029              
Principal Value   $ 600   $ 600   $ 600  
Fixed interest rate   4.625%   4.625%   4.625%  
Proceeds from issuance of notes $ 592            
Debt issuance costs $ 8            
With Subsidiary Guarantee | Term Loan due August 2028              
Principal Value   $ 396   $ 396