Revenue

3 Months Ended

May 01, 2021

Revenue [Abstract]

Revenue

6. Revenue

We generate substantially all of our revenue from contracts with customers from the sale of products and services. Contract balances primarily consist of receivables and 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 1, 2021		January 30, 2021		May 2, 2020
Receivables, net(1)	$	545	$	618	$	396
Short-term contract liabilities included in:
Unredeemed gift card liabilities		297		317		257
Deferred revenue		734		711		531
Accrued liabilities		79		71		45

(1)Receivables are recorded net of allowances for doubtful accounts of $25 million, $32 million and $29 million as of May 1, 2021, January 30, 2021, and May 2, 2020, respectively.

During the first three months of fiscal 2022 and fiscal 2021, $684 million and $492 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.