Revenue

3 Months Ended

May 02, 2020

Revenue [Abstract]

Revenue

5. Revenue

We generate all of our revenue from contracts with customers from the sale of products and services. Contract balances primarily consist of receivables and contract liabilities related to product merchandise not yet delivered to customers, unredeemed gift cards, services not yet completed, and options that provide a material right to customers, such as our customer loyalty programs. Contract balances were as follows ($ in millions):

	May 2, 2020		February 1, 2020		May 4, 2019
Receivables, net(1)	$	396	$	567	$	484
Short-term contract liabilities included in:
Unredeemed gift cards		257		281		265
Deferred revenue		531		501		409
Accrued liabilities		45		139		139
Long-term contract liabilities included in:
Long-term liabilities		8		9		10

(1)Receivables are recorded net of allowances for doubtful accounts of $29 million, $14 million and $12 million as of May 2, 2020, February 1, 2020, and May 4, 2019, respectively.

During the first three months of fiscal 2021 and fiscal 2020, $492 million and $466 million of revenue was recognized, respectively, that was included in the contract liabilities at the beginning of the respective periods.

See Note 9, Segments, for information on our revenue by reportable segment and product category.