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Impairment, Restructuring and Other Costs
 12 Months Ended
Feb. 01, 2025
Restructuring Costs and Asset Impairment Charges [Abstract]  
Impairment, Restructuring and Other Costs Impairment, Restructuring and Other Costs
Impairment, restructuring and other costs consist of the following:
202420232022
(millions)
Asset Impairments$88 $957 $15 
Restructuring44 55 5 
Other39 15 21 
$171 $1,027 $41 
On February 27, 2024, the Company announced its new strategy, A Bold New Chapter, which is designed to return the Company to enterprise growth, unlock shareholder value, and better serve its customers. The $171 million and $1.0 billion of impairment, restructuring and other costs recognized in fiscal 2024 and 2023, respectively, primarily relate to actions that align with A Bold New Chapter. The $88 million and $957 million non-cash asset impairment charge recognized in fiscal 2024 and 2023, respectively, primarily related to approximately 150 locations planned for closure as part of the A Bold New Chapter strategy, which is inclusive of both leased and owned locations, and the remaining amount is associated with corporate and other assets.
The charges recognized in 2022 primarily related to the write-off of capitalized software assets.
A summary of the restructuring cash activity from the Company's A Bold New Chapter strategy in 2024 and 2023, which are included within accounts payable and accrued liabilities, is as follows:
Restructuring
Additions charged to expense$55 
Cash payments(9)
Balance at February 3, 202446 
Additions charged to expense44 
Cash payments(59)
Balance at February 1, 2025$31