Revenue

9 Months Ended

Oct. 29, 2022

Revenue [Abstract]

Revenue

7. Revenue

We generate substantially all of our revenue from contracts with customers for the sale of products and services. Contract balances primarily consist of receivables and liabilities related to product merchandise not yet delivered to customers, unfulfilled membership benefits and services not yet completed, unredeemed gift cards and options that provide a material right to customers, such as our customer loyalty programs. Contract balances were as follows ($ in millions):

	October 29, 2022		January 29, 2022		October 30, 2021
Receivables, net(1)	$	654	$	591	$	638
Short-term contract liabilities included in:
Unredeemed gift card liabilities		273		316		306
Deferred revenue		1,080		1,103		977
Accrued liabilities		77		83		88

(1)Receivables are recorded net of allowances for doubtful accounts of $20 million, $31 million and $24 million as of October 29, 2022, January 29, 2022, and October 30, 2021, respectively.

During the first nine months of fiscal 2023 and fiscal 2022, $1,251 million and $1,001 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.