Business and Summary of Accounting Policies (Tables)

12 Months Ended

Feb. 03, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Fiscal Period

The following fiscal periods are presented in these notes:

Fiscal Year	Ended	Number of Weeks
2023	February 3, 2024	53
2022	January 28, 2023	52
2021	January 29, 2022	52

Schedule of Other Current Assets

Other current assets consist of the following:

(Dollars in Millions)	February 3, 2024	January 28, 2023
Prepaids	$166	$170
Other receivables	157	183
Income taxes receivable (a)	10	27
Other	14	14
Other current assets	$347	$394

(a)See Note 5 of the Consolidated Financial Statements for further discussion on income taxes.

Schedule of Property and Equipment

Property and equipment consist of the following:

(Dollars in Millions)	February 3, 2024	January 28, 2023
Land	$1,088	$1,100
Buildings and improvements:
Owned	8,377	8,225
Leased	2,369	2,446
Fixtures and equipment	1,718	1,807
Information technology	1,326	1,580
Construction in progress	56	49
Total property and equipment, at cost	14,934	15,207
Less accumulated depreciation and amortization	(7,214)	(7,281)
Property and equipment, net	$7,720	$7,926

Certain amounts in the prior period related to the removal of fully depreciated assets no longer in use have been reclassified to

conform with the current year's presentation.

Ranges of Useful Lives

The annual provisions for depreciation and amortization generally use the following ranges of useful lives:

Buildings and improvements	5-40 years
Fixtures and equipment	3-15 years
Information technology	3-5 years

As of February 3, 2024, and January 28, 2023, we had assets held for sale of $19 million.

Schedule of Other Noncurrent Assets

Other noncurrent assets consist of the following:

(Dollars in Millions)	February 3, 2024	January 28, 2023
Income taxes receivable (a)	$200	$195
Deferred tax assets (a)	32	46
Other	148	138
Other noncurrent assets	$380	$379

(a)See Note 5 of the Consolidated Financial Statements for further discussion on income taxes.

Schedule of Accrued Liabilities

Accrued liabilities consist of the following:

(Dollars in Millions)	February 3, 2024	January 28, 2023
Gift cards and merchandise return cards	$327	$356
Sales, property, and use taxes	162	184
Payroll and related fringe benefits	138	141
Income taxes payable (a)	40	12
Other	534	527
Accrued liabilities	$1,201	$1,220

(a)See Note 5 of the Consolidated Financial Statements for further discussion on income taxes.

Schedule of Net Sales by Line of Business

The following table summarizes net sales by line of business:

(Dollars in Millions)	2023	2022	2021
Women's	$4,281	$4,654	$4,927
Men's	3,455	3,679	3,867
Accessories (including Sephora)	2,813	2,279	2,100
Home	2,533	2,791	3,344
Children's	2,060	2,176	2,435
Footwear	1,444	1,582	1,798
Net Sales	$16,586	$17,161	$18,471

Schedule of Marketing Costs, Net of Related Vendor Allowances

Marketing costs are expensed when the marketing is first seen. Marketing costs, net of related vendor allowances, are as follows:

(Dollars in Millions)	2023	2022	2021
Gross marketing costs	$839	$940	$948
Vendor allowances	(43)	(57)	(55)
Net marketing costs	$796	$883	$893
Net marketing costs as a percent of total revenue	4.6%	4.9%	4.6%

Computation of Basic and Diluted Net Income (Loss) Per Share

The information required to compute basic and diluted net income (loss) per share is as follows:

(Dollars and Shares in Millions, Except per Share Data)	2023	2022	2021
Numerator—Net income (loss)	$317	$(19)	$938
Denominator—Weighted-average shares:
Basic	110	120	146
Dilutive impact	1	—	2
Diluted	111	120	148
Net income (loss) per share:
Basic	$2.88	$(0.15)	$6.41
Diluted	$2.85	$(0.15)	$6.32

Schedule of Potential Shares of Common Stock Excluded From the Diluted Net Income (Loss) Per Share

The following potential shares of common stock were excluded from the diluted net income (loss) per share calculation because their effect would have been anti-dilutive:

(Shares in Millions)	2023	2022	2021
Anti-dilutive shares	3	4	2