Revenue

3 Months Ended

Apr. 30, 2022

Revenue [Abstract]

Revenue

7. Revenue

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

	April 30, 2022		January 29, 2022		May 1, 2021
Receivables, net(1)	$	526	$	591	$	545
Short-term contract liabilities included in:
Unredeemed gift card liabilities		284		316		297
Deferred revenue		1,101		1,103		734
Accrued liabilities		82		83		79

(1)Receivables are recorded net of allowances for doubtful accounts of $25 million, $31 million and $25 million as of April 30, 2022, January 29, 2022, and May 1, 2021, respectively.

During the first three months of fiscal 2023 and fiscal 2022, $829 million and $684 million of revenue was recognized, respectively, that was included in the contract liabilities at the beginning of the respective periods.

See Note 11, Segments, for information on our revenue by reportable segment and product category.