Impairment, Restructuring and Other Costs

9 Months Ended

Oct. 30, 2021

Restructuring Costs And Asset Impairment Charges [Abstract]

Impairment, Restructuring and Other Costs

2. Impairment, Restructuring and Other Costs

	13 Weeks Ended					39 Weeks Ended
	October 30, 2021			October 31, 2020		October 30, 2021			October 31, 2020
	(millions)
Impairments	$	(10	)	$	6	$	10		$	3,170
Restructuring		—			2		(1	)		196
Other		10			12		12			79
Total	$	—		$	20	$	21		$	3,445

During the 39 weeks ended October 31, 2020, primarily as a result of the COVID-19 pandemic, the Company incurred non-cash impairment charges totaling $3,170 million, the majority of which was recognized during the first quarter of 2020 and consisted of:

• $3,080 million of goodwill impairments, with $2,982 million attributable to the Macy's reporting unit and $98 million attributable to the bluemercury reporting unit.

• $90 million of impairments primarily related to long-lived tangible and right of use assets to adjust the carrying value of certain store locations to their estimated fair value.  

A summary of the restructuring and other cash activity for the 13 and 39 weeks ended October 30, 2021 and October 31, 2020 related to the Polaris strategy, which was announced in February 2020 and included within accounts payable and accrued liabilities, is as follows:

	Severance and other benefits			Professional fees and other related charges			Total
	(millions)
Balance at February 1, 2020	$	115		$	9		$	124
Additions charged to expense		25			7			32
Cash payments		(82	)		(6	)		(88	)
Balance at May 2, 2020		58			10			68
Additions charged to expense		15			6			21
Cash payments		(67	)		(6	)		(73	)
Balance at August 1, 2020		6			10			16
Additions charged to expense		1			4			5
Cash payments		(6	)		(10	)		(16	)
Balance at October 31, 2020	$	1		$	4		$	5

	Severance and other benefits			Professional fees and other related charges			Total
	(millions)
Balance at January 30, 2021	$	14		$	2		$	16
Additions charged to expense		5			—			5
Cash payments		(16	)		(2	)		(18	)
Balance at May 1, 2021		3			—			3
Additions charged to expense		—			—			—
Cash payments		(1	)		—			(1	)
Balance at July 31, 2021		2			—			2
Additions charged to expense		—			—			—
Cash payments		(1	)		—			(1	)
Balance at October 30, 2021	$	1		$	—		$	1