Quarterly Results (Unaudited) (Tables)

12 Months Ended

Jan. 29, 2022

Quarterly Results (Unaudited) [Abstract]

Quarterly Results (Unaudited)

	1st Quarter	2nd Quarter	3rd Quarter	4th Quarter	Fiscal Year
Sales
2021	2,153	2,275	2,189	2,341	$	8,958
2020	1,176	2,077	2,106	2,189	$	7,548
Gross margin (1)
2021	749	798	760	773	$	3,080
2020	271	538	650	724	$	2,183
Income from operations (2)
2021	282	264	196	118	$	860
2020	(105)	69	178	161	$	303
Net income attributable to Foot Locker, Inc. (3), (4), (5)
2021	202	430	158	103	$	893
2020	(110)	45	265	123	$	323
Basic earnings per share (6)
2021	1.95	4.14	1.53	1.04	$	8.72
2020	(1.06)	0.43	2.54	1.18	$	3.10
Diluted earnings per share (6)
2021	1.93	4.09	1.52	1.02	$	8.61
2020	(1.06)	0.43	2.52	1.17	$	3.08

(1) Gross margin represents sales less cost of sales. Cost of sales includes: the cost of merchandise, freight, distribution costs including related depreciation expense, shipping and handling, occupancy and buyers’ compensation. Occupancy costs include rent (including fixed common area maintenance charges and other fixed non-lease components), real estate taxes, general maintenance, and utilities.

(2) Represents income before income taxes, net interest income and non-operating income.

(3) During the first, second, third, and fourth quarters of 2021, we recorded impairment and other charges totaling $4 million, $36 million, $57 million, and $75 million, respectively. During the first, second, third, and fourth quarters of 2020, we recorded impairment and other charges totaling $16 million, $38 million, $4 million, and $59 million, respectively. See Note 4, Impairment and Other Charges for additional information.

(4) During the second quarter of 2021, we recorded a benefit of $290 million related to GOAT. During the third quarter of 2020, we recorded a benefit of $190 million. Additionally, during the second quarter of 2021 we invested $68 million to take a common stock minority stake in Retailors, Ltd. at a discount to the initial public offering price, which represented a non-cash gain for the year. See Note 5, Other Income for further information.

(5) Quarterly income per share amounts may not total to the annual amount due to changes in weighted-average shares outstanding during the year.