Revenue

6 Months Ended

Jul. 31, 2021

Revenue [Abstract]

Revenue

7. 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 product merchandise not yet delivered to customers, unredeemed gift cards, services not yet completed and options that provide a material right to customers, such as our customer loyalty programs. Contract balances were as follows ($ in millions):

	July 31, 2021		January 30, 2021		August 1, 2020
Receivables, net(1)	$	528	$	618	$	567
Short-term contract liabilities included in:
Unredeemed gift card liabilities		293		317		267
Deferred revenue		854		711		699
Accrued liabilities		79		71		60

(1)Receivables are recorded net of allowances for doubtful accounts of $24 million, $32 million and $28 million as of July 31, 2021, January 30, 2021, and August 1, 2020, respectively.

During the first six months of fiscal 2022 and fiscal 2021, $866 million and $662 million of revenue was recognized, respectively, that was included in the contract liabilities at the beginning of the respective periods.

See Note 12, Segments, for information on our revenue by reportable segment and product category.