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Fair Value of Financial Instruments
 9 Months Ended
Nov. 02, 2024
Fair Value Disclosures [Abstract]  
Fair Value of Financial Instruments Fair Value of Financial Instruments
Cash and Cash Equivalents include cash on hand, deposits with financial institutions and highly liquid investments with original maturities of 90 days or less. The Company's Cash and Cash Equivalents are considered Level 1 fair value measurements as they are valued using unadjusted quoted prices in active markets for identical assets.
The following table provides a summary of the principal value and estimated fair value of the Company's outstanding debt as of November 2, 2024, February 3, 2024 and October 28, 2023:
November 2,
2024		February 3,
2024		October 28,
2023
(in millions)
Principal Value$988 $991 $992 
Fair Value, Estimated (a)916 897 830 
________________
(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.
Management believes that the carrying values of accounts receivable, accounts payable and accrued expenses approximate fair value because of their short maturity. Management further believes the principal value of the outstanding debt under the ABL Facility approximates its fair value as of November 2, 2024 based on the terms of the borrowings under the ABL Facility.
Recurring Fair Value Measurements
The following tables provide a summary of the Company's contingent consideration recognized at fair value related to the Adore Me acquisition as of November 2, 2024, February 3, 2024, October 28, 2023 and January 28, 2023 (in millions):
Balance Sheet LocationMeasurement LevelNovember 2,
2024		February 3,
2024		October 28,
2023		January 28,
2023
Accrued Expenses and OtherLevel 3$64 $74 $16 $30 
Other Long-term LiabilitiesLevel 3— 18 71 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 Loss. For additional information regarding the contingent consideration, see Note 2, “Acquisition.”