Revenue

6 Months Ended

Aug. 01, 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):

	August 1, 2020		February 1, 2020		August 3, 2019
Receivables, net(1)	$	567	$	567	$	561
Short-term contract liabilities included in:
Unredeemed gift card liabilities		267		281		264
Deferred revenue		699		501		468
Accrued liabilities		60		139		149
Long-term contract liabilities included in:
Long-term liabilities		7		9		9

(1)Receivables are recorded net of allowances for doubtful accounts of $28 million, $14 million and $13 million as of August 1, 2020, February 1, 2020, and August 3, 2019, respectively.

During the first six months of fiscal 2021 and fiscal 2020, $662 million and $638 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.