Quarterly Financial Information (Unaudited)

12 Months Ended

Feb. 01, 2020

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information (Unaudited)

8. Quarterly Financial Information (Unaudited)

		2019
(Dollars and Shares in Millions, Except per Share Data)		First			Second			Third				Fourth
Total revenue	$		4,087	$		4,430	$		4,625		$		6,832
Cost of merchandise sold	$		2,415	$		2,550	$		2,775		$		4,400
Selling, general and administrative expenses	$		1,275	$		1,269	$		1,419		$		1,742
(Gain) loss on extinguishment of debt			—			—	$		(9	)			—
Impairments, store closing and other costs	$		49	$		7			—		$		57
Net income	$		62	$		241	$		123		$		265
Basic shares			161			159			156				154
Basic net income per share	$		0.38	$		1.52	$		0.79		$		1.72
Diluted shares			162			159			157				154
Diluted net income per share	$		0.38	$		1.51	$		0.78		$		1.72

		2018
(Dollars and Shares in Millions, Except per Share Data)		First			Second			Third			Fourth
Total revenue	$		4,208	$		4,570	$		4,628	$		6,823
Cost of merchandise sold	$		2,496	$		2,605	$		2,752	$		4,345
Selling, general and administrative expenses	$		1,259	$		1,272	$		1,375	$		1,694
(Gain) loss on extinguishment of debt	$		42			—			—	$		21
Impairments, store closing and other costs			—			—			—	$		104
Net income	$		75	$		292	$		161	$		272
Basic shares			165			165			164			162
Basic net income per share	$		0.46	$		1.77	$		0.98	$		1.68
Diluted shares			167			166			165			163
Diluted net income per share	$		0.45	$		1.76	$		0.98	$		1.67

Due to changes in stock prices during the year and timing of share repurchases and issuances, the sum of quarterly net income per share may not equal the annual net income per share.