Business and Summary of Accounting Policies (Tables)

12 Months Ended

Jan. 30, 2021

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
2020	January 30, 2021	52
2019	February 1, 2020	52
2018	February 2, 2019	52

Schedule of Other Current Assets

Other current assets consist of the following:

(Dollars in Millions)	January 30, 2021			February 1, 2020
Income taxes receivable		$	610		$	15
Other Receivables			179			182
Prepaids			172			171
Other			13			21
Other current assets (a)		$	974		$	389

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

Schedule of Property and Equipment

Property and equipment consist of the following:

(Dollars in Millions)	January  30, 2021				February 1, 2020
Land		$	1,091			$	1,107
Buildings and improvements:
Owned			7,783				7,869
Leased			963				867
Fixtures and equipment			1,267				1,426
Information technology			2,855				2,806
Construction in progress			313				279
Total property and equipment, at cost			14,272				14,354
Less accumulated depreciation and amortization			(7,583	)			(7,002	)
Property and equipment, net		$	6,689			$	7,352

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	3-8 years

Schedule of Other Noncurrent Assets

Other noncurrent assets consist of the following:

(Dollars in Millions)	January 30, 2021			February 1, 2020
Income taxes receivable		$	232		$                  —
Deferred tax assets			42			18
Other			141			145
Other noncurrent assets (a)		$	415		$	163

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

Schedule of Accrued Liabilities

Accrued liabilities consist of the following:

(Dollars in Millions)	January 30, 2021			February 1, 2020
Gift cards and merchandise return cards		$	339		$	334
Sales, property, and use taxes			196			182
Payroll and related fringe benefits			229			101
Credit card liabilities			52			84
Accrued capital			10			104
Other			444			476
Accrued liabilities		$	1,270		$	1,281

Summary of Changes in Restructuring Reserve

The following table summarizes changes in the restructuring reserve during 2020:

(Dollars in Millions)	Severance
Balance - February 1, 2020	$	27
Payments and reversals		(37	)
Additions		23
Balance - January 30, 2021	$	13

Schedule of Net Sales by Line of Business

The following table summarizes net sales by line of business:

(Dollars in Millions)	2020		2019		2018
Women's	$	3,796	$	5,302	$	5,452
Home		3,381		3,249		3,341
Men’s		2,753		3,827		3,828
Children's		2,082		2,460		2,464
Accessories		1,638		2,217		2,227
Footwear		1,381		1,830		1,855
Net Sales	$	15,031	$	18,885	$	19,167

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)	2020				2019				2018
Gross marketing costs		$	824			$	1,156			$	1,133
Vendor allowances			(36	)			(130	)			(143	)
Net marketing costs		$	788			$	1,026			$	990
Net marketing costs as a percent of total revenue			4.9	%			5.1	%			4.9	%

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

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

(Dollars and Shares in Millions, Except per Share Data)	2020			2019			2018
Numerator—Net (loss) income		$	(163)		$	691		$	801
Denominator—Weighted average shares
Basic			154			157			164
Dilutive impact			—			1			1
Diluted			154			158			165
Net (loss) income per share:
Basic		$	(1.06)		$	4.39		$	4.88
Diluted		$	(1.06)		$	4.37		$	4.84

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

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

(Shares in Millions)	2020		2019		2018
Anti-dilutive shares		6		3		—