Revenue

12 Months Ended

Feb. 03, 2024

Revenue [Abstract]

Revenue

10.   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 unfulfilled membership benefits and services not yet completed, product merchandise not yet delivered to customers, deferred revenue from our private label and co-branded credit card arrangement and unredeemed gift cards. Contract balances were as follows ($ in millions):

	February 3, 2024		January 28, 2023
Receivables(1)	$	512	$	581
Short-term contract liabilities included in:
Unredeemed gift cards		253		274
Deferred revenue		1,000		1,116
Accrued liabilities		53		66
Long-term contract liabilities included in:
Long-term liabilities		245		265

(1)Receivables are recorded net of allowances for doubtful accounts of $23 million and $22 million as of February 3, 2024, and January 28, 2023, respectively.

During fiscal 2024 and fiscal 2023, $1,283 million and $1,346 million of revenue was recognized, respectively, that was included in the contract liabilities at the beginning of the respective periods.

Estimated revenue from our contract liability balances expected to be recognized in future periods if the performance of the contract is expected to have an initial duration of more than one year is as follows ($ in millions):

Fiscal Year		Amount
Fiscal 2025	$	33
Fiscal 2026		33
Fiscal 2027		25
Fiscal 2028		25
Fiscal 2029		25
Thereafter		137

See Note 14, Segment and Geographic Information, for information on our revenue by reportable segment and product category.