Note 4 - Impairment and Other Charges

3 Months Ended

Apr. 29, 2023

Notes to Financial Statements

Litigation Impairment and Other Charges [Text Block]

4. Impairment and Other

	Thirteen weeks ended
	April 29,		April 30,
($ in millions)	2023		2022
Transformation consulting	$	19	$	—
Impairment of long-lived assets and right-of-use assets		18		3
Reorganization costs		2		—
Acquisition and integration costs		—		2
Other		—		1
Total impairment and other	$	39	$	6

For the thirteen weeks ended April 29, 2023, we incurred $19 million of transformation consulting expense. We recorded impairment charges of $18 million, primarily accelerated tenancy charges on right-of-use assets for the closures of the Sidestep banner and certain Foot Locker Asia stores. Additionally, we recorded reorganization costs of $2 million related to the announced closure of a North American distribution center and costs associated with the closure of the Sidestep banner and certain Foot Locker Asia stores.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS