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Fair Value of Financial Instruments (Tables)
 3 Months Ended
Apr. 29, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]  
Schedule of Fair Value of Financial Instruments
The following table provides a summary of the principal value and estimated fair value of the Company's outstanding debt as of April 29, 2023, January 28, 2023 and April 30, 2022:
April 29,
2023		January 28,
2023		April 30,
2022
(in millions)
Principal Value$994 $995 $998 
Fair Value, Estimated (a)873 894 881 
________________
(a)The estimated fair value of the Company’s publicly traded debt is based on reported transaction prices which are considered Level 2 inputs in accordance with ASC 820, Fair Value Measurement. The estimates presented are not necessarily indicative of the amounts that the Company could realize in a current market exchange.
Fair Value, Liabilities Measured on Recurring Basis
The following tables provide a summary of the Company's contingent consideration recognized at fair value related to the Adore Me acquisition as of April 29, 2023 and January 28, 2023 (in millions):
Balance Sheet LocationApril 29,
2023		Level 1Level 2Level 3
Accrued Expenses and Other$31 $— $— $31 
Other Long-term Liabilities62 — — 62 
Balance Sheet LocationJanuary 28,
2023		Level 1Level 2Level 3
Accrued Expenses and Other$30 $— $— $30 
Other Long-term Liabilities70 — — 70 
The estimated fair value of the contingent consideration is valued using a Scenario-Based method and a Monte Carlo simulation which utilize inputs including discount rates, estimated probability of achievement of certain milestones, forecasted revenues, forecasted EBITDA and volatility rates. These are considered Level 3 inputs in accordance with ASC 820, Fair Value Measurement. Changes in the fair value of the contingent consideration are recorded within General, Administrative and Store Operating Expenses on the Consolidated Statements of Income. For additional information regarding the contingent consideration, see Note 2, “Acquisition.”