Note 4 - Impairment and Other

6 Months Ended

Jul. 29, 2023

Notes to Financial Statements

Restructuring, Impairment, and Other Activities Disclosure [Text Block]

4. Impairment and Other

	Thirteen weeks ended				Twenty-six weeks ended
	July 29,		July 30,		July 29,		July 30,
($ in millions)	2023		2022		2023		2022
Transformation consulting	$	7	$	9	$	26	$	10
Impairment of long-lived assets and right-of-use assets		3		2		21		5
Reorganization costs		3		—		5		—
Acquisition and integration costs		—		1		—		3
Other		1		—		1		—
Total impairment and other	$	14	$	12	$	53	$	18

For the thirteen and twenty-six weeks ended July 29, 2023, we incurred $7 million and $26 million of transformation consulting expense, respectively. We recorded impairment charges of $3 million and $21 million, respectively, of 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 $3 million and $5 million, respectively, related to the announced closure of the Sidestep banner, certain Foot Locker Asia stores, and a North American distribution center.