Note 16 - Accumulated Other Comprehensive Loss

12 Months Ended

Feb. 03, 2024

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

16. Accumulated Other Comprehensive Loss

($ in millions)	2023			2022			2021
Foreign currency translation adjustments	$	(173	)	$	(148	)	$	(107	)
Hedge contracts		(2	)		(3	)		—
Unrecognized pension cost and postretirement benefit		(191	)		(241	)		(236	)
	$	(366	)	$	(392	)	$	(343	)

The changes in AOCL for the year ended February 3, 2024 were as follows:

($ in millions)	Foreign Currency Translation Adjustments			Hedge Contracts			Items Related to Pension and Postretirement Benefits			Total
Balance as of January 28, 2023	$	(148	)	$	(3	)	$	(241	)	$	(392	)
OCI before reclassification		(25	)		10			—			(15	)
Reclassification of hedges, net of tax		—			(9	)		—			(9	)
Amortization of pension actuarial loss, net of tax		—			—			7			7
Pension and postretirement remeasurement, net of tax		—			—			(13	)		(13	)
Pension settlement charge, net of tax		—			—			56			56
Other comprehensive income		(25	)		1			50			26
Balance as of February 3, 2024	$	(173	)	$	(2	)	$	(191	)	$	(366	)

Reclassifications to income from AOCL for the year ended February 3, 2024 were as follows:

($ in millions)
Reclassification of hedges:
Cross-currency swap	$	(9	)
Income tax		—
Reclassification of hedges, net of tax	$	(9	)
Reclassification of actuarial loss:
Amortization of pension and postretirement benefits	$	10
Settlement charge		75
Total before tax		85
Income tax		(22	)
Reclassification of actuarial loss, net of tax	$	63
Total, net of tax	$	54