Business and Summary of Accounting Policies (Tables)

12 Months Ended

Jan. 28, 2023

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
2022	January 28, 2023	52
2021	January 29, 2022	52
2020	January 30, 2021	52

Schedule of Other Current Assets

Other current assets consist of the following:

(Dollars in Millions)	January 28, 2023	January 29, 2022
Other Receivables	$183	$175
Prepaids	170	164
Income taxes receivable (a)	27	15
Other	14	15
Other current assets	$394	$369

(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 28, 2023	January 29, 2022
Land	$1,100	$1,109
Buildings and improvements:
Owned	8,225	8,035
Leased	2,446	1,754
Fixtures and equipment	1,807	1,609
Information technology	2,787	2,774
Construction in progress	49	84
Total property and equipment, at cost	16,414	15,365
Less accumulated depreciation and amortization	(8,488)	(8,061)
Property and equipment, net	$7,926	$7,304

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	3-5 years

As of January 28, 2023, we had assets held for sale of $19 million.

Schedule of Other Noncurrent Assets

Other noncurrent assets consist of the following:

(Dollars in Millions)	January 28, 2023	January 29, 2022
Income taxes receivable (a)	$195	$300
Deferred tax assets	46	39
Other	138	140
Other noncurrent assets	$379	$479

(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 28, 2023	January 29, 2022
Gift cards and merchandise return cards	$356	$353
Sales, property, and use taxes	184	181
Payroll and related fringe benefits	141	150
Income taxes payable (a)	12	106
Other	527	550
Accrued liabilities	$1,220	$1,340

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

Schedule of Net Sales by Line of Business

The following table summarizes net sales by line of business:

(Dollars in Millions)	2022	2021	2020
Women's	$4,654	$4,927	$3,796
Men's	3,679	3,867	2,753
Home	2,791	3,344	3,381
Accessories	2,279	2,100	1,638
Children's	2,176	2,435	2,082
Footwear	1,582	1,798	1,381
Net Sales	$17,161	$18,471	$15,031

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)	2022	2021	2020
Gross marketing costs	$940	$948	$824
Vendor allowances	(57)	(55)	(36)
Net marketing costs	$883	$893	$788
Net marketing costs as a percent of total revenue	4.9%	4.6%	4.9%

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

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

(Dollars and Shares in Millions, Except per Share Data)	2022	2021	2020
Numerator—net (loss) income	$(19)	$938	$(163)
Denominator—weighted average shares
Basic	120	146	154
Impact of dilutive share-based awards	—	2	—
Diluted	120	148	154
Net (loss) income per share:
Basic	$(0.15)	$6.41	$(1.06)
Diluted	$(0.15)	$6.32	$(1.06)

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 (loss) income per share calculation because their effect would have been anti-dilutive:

(Shares in Millions)	2022	2021	2020
Anti-dilutive shares	4	2	6