Revenue

6 Months Ended

Jul. 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):

	July 30, 2022		January 29, 2022		July 31, 2021
Receivables, net(1)	$	534	$	591	$	528
Short-term contract liabilities included in:
Unredeemed gift card liabilities		273		316		293
Deferred revenue		1,133		1,103		854
Accrued liabilities		78		83		79

(1)Receivables are recorded net of allowances for doubtful accounts of $21 million, $31 million and $24 million as of July 30, 2022, January 29, 2022, and July 31, 2021, respectively.

During the first six months of fiscal 2023 and fiscal 2022, $1,089 million and $866 million of revenue was recognized, respectively, that was included in the contract liabilities at the beginning of the respective periods.

See Note 12, Segments, for information on our revenue by reportable segment and product category.