Long-Lived Assets

3 Months Ended

May 04, 2024

Property, Plant and Equipment [Abstract]

Long-Lived Assets

Long-Lived Assets

The following table provides details of Property and Equipment, Net as of May 4, 2024, February 3, 2024 and April 29, 2023:

	May 4, 2024		February 3, 2024		April 29, 2023
	(in millions)
Property and Equipment, at Cost	$	3,564	$	3,616	$	3,676
Accumulated Depreciation and Amortization	(2,759)		(2,773)		(2,842)
Property and Equipment, Net	$	805	$	843	$	834

Depreciation expense was $59 million and $67 million for the first quarter of 2024 and 2023, respectively. Amortization expense for intangible assets was $6 million for the first quarter of 2024 and 2023, respectively.

In the first quarter of 2024, the Company classified certain non-store corporate-related assets that are expected to be sold within the next twelve months as held for sale within Other Current Assets on the Consolidated Balance Sheet. As of May 4, 2024, the carrying value of these assets held for sale was $18 million.