Comprehensive Income (Loss)

12 Months Ended

Jan. 28, 2023

Comprehensive Income (Loss) includes gains and losses on foreign currency translation and derivative instruments. The cumulative gains and losses on these items are included in Accumulated Other Comprehensive Income on the Consolidated Balance Sheets and Consolidated and Combined Statements of Equity.

The following table provides the rollforward of accumulated other comprehensive income (loss) for 2022:


	Foreign Currency Translation		Accumulated Other Comprehensive Income (Loss)
	(in millions)
Balance as of January 29, 2022	$	5	$	5
Other Comprehensive Income (Loss) Before Reclassifications	(7)		(7)
Amounts Reclassified from Accumulated Other Comprehensive Income to Paid-in Capital	3		3
Tax Effect	—		—
Current-period Other Comprehensive Loss	(4)		(4)
Balance as of January 28, 2023	$	1	$	1

As a result of the China joint venture agreement completed in April 2022, the Company reclassified $3 million of accumulated foreign currency translation adjustments related to the joint venture out of Accumulated Other Comprehensive Income and into Paid-in Capital in the first quarter of 2022 in order to reflect the amount attributable to the noncontrolling interest partner. For additional information, see Note 6, “Restructuring Activities.”

The following table provides the rollforward of accumulated other comprehensive income for 2021:


	Foreign Currency Translation		Accumulated Other Comprehensive Income
	(in millions)
Balance as of January 30, 2021	$	4	$	4
Other Comprehensive Income Before Reclassifications	1		1

Tax Effect	—		—
Current-period Other Comprehensive Income	1		1
Balance as of January 29, 2022	$	5	$	5