Acquisitions (Tables)

12 Months Ended

Jan. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of allocation of transaction price to the fair value of identifiable assets acquired and liabilities assumed

The following table represents the allocation of the transaction price to the fair value of identifiable assets acquired and liabilities assumed in the acquisitions during fiscal 2021, fiscal 2020 and fiscal 2019. Preliminary values of the fiscal 2021 acquisitions are not yet finalized pending the final purchase price allocations and are subject to change once additional information is obtained.

	L&M Acquisition		Pacific Pipe Acquisition		R&B Acquisition		LIP Acquisition
Cash	$	—	$	2	$	3	$	—
Accounts receivable	7		10		25		31
Inventories	16		17		20		37
Intangible assets	19		47		114		94
Goodwill	18		41		89		51
Operating lease right-of-use assets	2		17		9		18
Other assets, current and non-current	5		6		11		6
Total assets acquired	67		140		271		237
Accounts payable	3		5		18		14
Deferred income taxes	—		12		31		—
Contingent consideration	—		—		—		2
Operating lease liabilities	2		17		9		18
Other liabilities, current and non-current	—		—		4		3
Net assets acquired	$	62	$	106	$	209	$	200

Schedule of reconciliation of total consideration to net assets acquired

The following reconciles the total consideration to net assets acquired:

	L&M Acquisition		Pacific Pipe Acquisition		R&B Acquisition		LIP Acquisition
Total consideration, net of cash	$	62	$	104	$	207	$	216
Less: Employment and consulting agreement prepayment; operating cash outflow	—		—		—		(15)
Less: Working capital adjustment	—		—		(1)		(1)
Plus: Cash acquired in acquisition	—		2		3		—
Plus: Contingent consideration	—		—		—		2
Total consideration	62		106		209		202
Less: Contingent consideration	—		—		—		(2)
Net assets acquired; investing cash outflow	$	62	$	106	$	209	$	200

Schedule of pro forma information

The following pro forma information has been prepared for comparative purposes only and is not necessarily indicative of the results of operations as they would have been had the acquisitions occurred on the assumed dates, nor is it necessarily an indication of future operating results. In addition, the pro forma information does not reflect the cost of any integration activities, benefits from any synergies that may be derived from the acquisitions or revenue growth that may be anticipated.

	Fiscal Years Ended
	January 30, 2022		January 31, 2021		February 2, 2020
Net sales	$	5,081	$	3,793	$	3,655
Net income	$	235	$	37	$	22

Schedule of intangible assets acquired and assumptions utilized in the valuation

A summary of the intangible assets acquired and assumptions utilized in the valuation, for the acquisitions is as follows:

	Intangible Asset Amount		Amortization Period	Discount Rate		Attrition Rate
L&M Acquisition
Customer relationships	$	19	10 years	15.5	%	15.0	%
Pacific Pipe Acquisition
Customer relationships	46		10 years	11.5	%	10.0	%
Trademark	1		2 years	11.5	%	N/A
WWSC Acquisition
Customer relationships	6		10 years	13.0	%	15.0	%
R&B Acquisition
Customer relationships	114		15 years	10.0	%	7.5	%
LIP Acquisition
Customer relationships - retail	90		10 years	14.0	%	12.5	%
Customer relationships - distribution	3		15 years	14.0	%	5.0	%
Other intangibles	1
Maskell Acquisition
Customer relationships	5		10 years	13.0	%	12.5	%

Schedule of acquisition related costs

Acquisition-related costs, which are included within selling, general and administrative expenses, for each of the completed acquisitions discussed above were as follows:

	Fiscal Years Ended
	January 30, 2022		January 31, 2021		February 2, 2020
L&M Acquisition	$	1	$	—	$	—
Pacific Pipe Acquisition	1		—		—
R&B Acquisition	—		1		1
LIP Acquisition	—		—		1