Other Income (Expense), net

12 Months Ended

Jan. 28, 2023

Other Income / (Expense), net [Abstract]

Other Income (Expense), net

6. Other Income / (Expense), net

Other income / expense, net generally includes non-operating items, such as:

- changes in value for our investments accounted for using the fair value measurement alternative, which is at cost adjusted for changes in observable prices minus impairment,

- our share of earnings or losses related to our equity method investments,

- net benefit expense or income related to our pension and postretirement programs, excluding the service cost component,

- changes in fair value, premiums paid, and realized gains associated with foreign currency option contracts,

- changes in the market value of our available-for-sale security, and

premiums paid to repurchase and retire bonds.

($ in millions)	2022		2021		2020
Minority investment in Retailors, Ltd.	$	(61)	$	77	$	—
Share of earnings (losses) related to other minority investments		1		3		(1)
Team Sales divestiture		19		—		—
Minority investment in GOAT		—		290		190
Pension and postretirement net benefit income, excluding service cost		—		7		5
Other		(1)		7		(2)
Total other income / (expense), net	$	(42)	$	384	$	192

During 2021, we invested $68 million to take a common stock minority stake in a public entity, Retailors, Ltd., which is traded on the Tel Aviv stock exchange. This investment was at a discount to the initial public offering price, resulting in a non-cash gain of $9 million in 2021. Additionally, changes in fair value related to our Retailors, Ltd. investment generated non-cash gains of $68 million during 2021. During 2022, we sold our position in this investment. A loss of $62 million was recorded during 2022, partially offset by $1 million of dividend income. Our minority investment in GOAT is accounted for using the fair value measurement alternative, which is at cost adjusted for changes in observable prices minus impairment. GOAT received funding at higher valuations in both 2021 and 2020 resulting in non-cash gains of $290 million and $190 million, respectively.

During 2021, we recorded $7 million of insurance recoveries in excess of the losses sustained in the prior year related to the social unrest.