Fair Value Measurements (Tables)

12 Months Ended

Jan. 30, 2021

Financial Assets And Liabilities Measured At Fair Value On Recurring Basis

Financial assets and liabilities measured at fair value on a recurring basis and cash equivalents held at amortized cost are as follows:


			Fair Value Measurements at Reporting Date Using
($ in millions)	January 30, 2021		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents	$	375	$	25	$	350	$	—
Short-term investments	410		342		68		—
Derivative financial instruments	5		—		5		—
Deferred compensation plan assets	43		43		—		—
Other assets	2		—		—		2
Total	$	835	$	410	$	423	$	2
Liabilities:
Derivative financial instruments	$	21	$	—	$	21	$	—


			Fair Value Measurements at Reporting Date Using
($ in millions)	February 1, 2020		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents	$	311	$	19	$	292	$	—
Short-term investments	290		117		173		—
Derivative financial instruments	10		—		10		—
Deferred compensation plan assets	51		51		—		—
Other assets	2		—		—		2
Total	$	664	$	187	$	475	$	2
Liabilities:
Derivative financial instruments	$	10	$	—	$	10	$	—

Long Lived Assets Impairment [Table Text Block]

In total, we recorded the following long-lived asset impairment charges in operating expenses in the Consolidated Statements of Operations:


	Fiscal Year
($ in millions)	2020		2019		2018



Operating lease assets (1)	$	391	$	239	$	—



Store assets (2)	135		98		14
Other indefinite-lived intangible assets (3)	31		—		—
Goodwill	—		—		—
Total impairment charges of long-lived and indefinite-lived assets	$	557	$	337	$	14

__________

(1)The impairment charge of operating lease assets reduced the then carrying amount of the applicable operating lease assets of $1,635 million and $865 million to their fair value of $1,244 million and $626 million during fiscal 2020 and fiscal 2019, respectively.

(2)The impairment charge reduced the then carrying amount of the applicable store assets of $143 million, $99 million, and $15 million to their fair value of $8 million, $1 million, and $1 million during fiscal 2020, 2019, and 2018, respectively.

(3)See Note 4 of Notes to Consolidated Financial Statements for further information regarding the impairment of Intermix trade name.