Restructuring

9 Months Ended

Oct. 28, 2023

Restructuring [Abstract]

Restructuring

2. Restructuring

Fiscal 2023 Resource Optimization Initiative

In light of ongoing changes in business trends, during the second quarter of fiscal 2023, we commenced an enterprise-wide initiative to better align our spending with critical strategies and operations, as well as to optimize our cost structure. We do not expect to incur material future restructuring charges related to this initiative.

All charges incurred related to this initiative were comprised of employee termination benefits from continuing operations and were presented within Restructuring charges on our Condensed Consolidated Statements of Earnings as follows ($ in millions):

	Three Months Ended				Nine Months Ended				Cumulative Amount
	October 28, 2023		October 29, 2022		October 28, 2023		October 29, 2022		As of October 28, 2023
Domestic	$	1	$	25	$	(14)	$	59	$	126
International		(1)		-		(2)		-		3
Total	$	-	$	25	$	(16)	$	59	$	129

Restructuring accrual activity related to this initiative was as follows ($ in millions):

	Termination Benefits
	Domestic		International		Total
Balances at January 29, 2022	$	-	$	-	$	-
Charges		62		-		62
Cash payments		(28)		-		(28)
Adjustments(1)		(3)		-		(3)
Balances at October 29, 2022	$	31	$	-	$	31
Balances at January 28, 2023	$	102	$	5	$	107
Cash payments		(64)		(3)		(67)
Adjustments(1)		(14)		(2)		(16)
Balances at October 28, 2023	$	24	$	-	$	24

(1)Represents adjustments primarily related to higher-than-expected employee retention from previously planned organizational changes.