Revenue

9 Months Ended

Oct. 31, 2020

Revenue [Abstract]

Revenue

6. 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):

	October 31, 2020		February 1, 2020		November 2, 2019
Receivables, net(1)	$	625	$	567	$	591
Short-term contract liabilities included in:
Unredeemed gift card liabilities		278		281		271
Deferred revenue		788		501		445
Accrued liabilities		71		139		145
Long-term contract liabilities included in:
Long-term liabilities		7		9		9

(1)Receivables are recorded net of allowances for doubtful accounts of $30 million, $14 million and $13 million as of October 31, 2020, February 1, 2020, and November 2, 2019, respectively.

During the first nine months of fiscal 2021 and fiscal 2020, $792 million and $762 million of revenue was recognized, respectively, that was included in the contract liabilities at the beginning of the respective periods.

See Note 10, Segments, for information on our revenue by reportable segment and product category.