Business and Summary of Accounting Policies (Tables)

12 Months Ended

Jan. 29, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Fiscal Period

The following fiscal periods are presented in these notes:

Fiscal Year	Ended	Number of Weeks
2021	January 29, 2022	52
2020	January 30, 2021	52
2019	February 1, 2020	52

Schedule of Other Current Assets

Other current assets consist of the following:

(Dollars in Millions)	January 29, 2022	January 30, 2021
Other Receivables	$175	$179
Prepaids	164	172
Income taxes receivable	15	610
Other	15	13
Other current assets (a)	$369	$974

(a)See Note 5 of the Consolidated Financial Statements for further discussion on income taxes.

Schedule of Property and Equipment

Property and equipment consist of the following:

(Dollars in Millions)	January 29, 2022	January 30, 2021
Land	$1,109	$1,091
Buildings and improvements:
Owned	8,035	7,783
Leased	1,754	963
Fixtures and equipment	1,609	1,267
Information technology	2,774	2,855
Construction in progress	84	313
Total property and equipment, at cost	15,365	14,272
Less accumulated depreciation and amortization	(8,061)	(7,583)
Property and equipment, net	$7,304	$6,689

Ranges of Useful Lives

The annual provisions for depreciation and amortization generally use the following ranges of useful lives:

Buildings and improvements	5-40 years
Fixtures and equipment	3-15 years
Information technology	3-8 years

Schedule of Other Noncurrent Assets

Other noncurrent assets consist of the following:

(Dollars in Millions)	January 29, 2022	January 30, 2021
Income taxes receivable	$300	$232
Deferred tax assets	39	42
Other	140	141
Other noncurrent assets (a)	$479	$415

(a)See Note 5 of the Consolidated Financial Statements for further discussion on income taxes.

Schedule of Accrued Liabilities

Accrued liabilities consist of the following:

(Dollars in Millions)	January 29, 2022	January 30, 2021
Gift cards and merchandise return cards	$353	$339
Sales, property and use taxes	181	196
Payroll and related fringe benefits	150	229
Income taxes payable	106	10
Accrued capital	85	10
Other	465	486
Accrued liabilities	$1,340	$1,270

Schedule of Net Sales by Line of Business

The following table summarizes net sales by line of business:

(Dollars in Millions)	2021	2020	2019
Women's	$4,927	$3,796	$5,302
Men's	3,867	2,753	3,827
Home	3,344	3,381	3,249
Children's	2,435	2,082	2,460
Accessories	2,100	1,638	2,217
Footwear	1,798	1,381	1,830
Net Sales	$18,471	$15,031	$18,885

Schedule of Marketing Costs, Net of Related Vendor Allowances

Marketing costs are expensed when the marketing is first seen. Marketing costs, net of related vendor allowances, are as follows:

(Dollars in Millions)	2021	2020	2019
Gross marketing costs	$948	$824	$1,156
Vendor allowances	(55)	(36)	(130)
Net marketing costs	$893	$788	$1,026
Net marketing costs as a percent of total revenue	4.6%	4.9%	5.1%

Computation of Basic and Diluted Net Income (Loss) Per Share

The information required to compute basic and diluted net income (loss) per share is as follows:

(Dollars and Shares in Millions, Except per Share Data)	2021	2020	2019
Numerator—net income (loss)	$938	$(163)	$691
Denominator—weighted average shares
Basic	146	154	157
Impact of dilutive share-based awards	2	—	1
Diluted	148	154	158
Net income (loss) per share:
Basic	$6.41	$(1.06)	$4.39
Diluted	$6.32	$(1.06)	$4.37

Schedule of Potential Shares of Common Stock Excluded From the Diluted Net Income (Loss) Per Share

The following potential shares of common stock were excluded from the diluted net income (loss) per share calculation because their effect would have been anti-dilutive:

(Shares in Millions)	2021	2020	2019
Anti-dilutive shares	2	6	3