Note 4 - Impairment and Other

9 Months Ended

Oct. 28, 2023

Notes to Financial Statements

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

4. Impairment and Other

	Thirteen weeks ended					Thirty-nine weeks ended
	October 28,			October 29,		October 28,		October 29,
($ in millions)	2023			2022		2023		2022
Transformation consulting	$	1		$	17	$	27	$	27
Impairment of long-lived assets and right-of-use assets		(2	)		—		19		5
Reorganization costs		7			2		12		2
Acquisition and integration costs		—			1		—		4
Other		—			—		1		—
Total impairment and other	$	6		$	20	$	59	$	38

For the thirteen and thirty-nine weeks ended October 28, 2023, we incurred $1 million and $27 million of transformation consulting expense, respectively. For the thirteen weeks ended October 28, 2023, we recorded a $3 million credit from the settlement of lease obligations associated with Sidestep stores, partially offset by impairment on atmos U.S. assets of $1 million. For the thirty-nine weeks ended October 28, 2023, we recorded impairment charges of $19 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 $7 million and $12 million, respectively, related to severance and the announced closure of the Sidestep banner, certain Foot Locker Asia stores, and a North American distribution center.