The Gap, Inc. (GAP) 10-Q 26 Aug 22 2022 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jul. 30, 2022	Aug. 19, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 30, 2022
Document Transition Report	false
Entity File Number	1-7562
Entity Registrant Name	GAP, INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-1697231
Entity Address, Address Line One	Two Folsom Street
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94105
City Area Code	415
Local Phone Number	427-0100
Title of 12(b) Security	Common Stock, $0.05 par value
Trading Symbol	GPS
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		363,696,901
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000039911
Current Fiscal Year End Date	--01-28
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) shares in Millions, $ in Millions	Jul. 30, 2022	Jan. 29, 2022	Jul. 31, 2021
Current assets:
Cash and cash equivalents	$ 708	$ 877	$ 2,375
Short-term investments	0	0	337
Merchandise inventory	3,135	3,018	2,281
Other current assets	1,106	1,270	1,201
Total current assets	4,949	5,165	6,194
Property and equipment, net of accumulated depreciation	2,809	3,037	2,897
Operating Lease, Right-of-Use Asset	3,532	3,675	3,975
Other long-term assets	881	884	693
Total assets	12,171	12,761	13,759
Current liabilities:
Accounts payable	1,640	1,951	1,583
Accrued expenses and other current liabilities	1,216	1,367	1,252
Operating Lease, Liability, Current	717	734	789
Income taxes payable	41	25	27
Total current liabilities	3,614	4,077	3,651
Long-term liabilities:
Long-term Line of Credit	350	0	0
Total long-term debt	1,485	1,484	2,220
Operating Lease, Liability, Noncurrent	3,857	4,033	4,348
Lease incentives and other long-term liabilities	560	445	520
Total long-term liabilities	6,252	5,962	7,088
Commitments and contingencies (see Note 9)
Common stock, shares outstanding (in shares)	364	371	376
Stockholders' equity:
Authorized 2,300 shares for all periods presented	$ 18	$ 19	$ 19
Additional Paid in Capital	0	43	114
Retained earnings	2,241	2,622	2,879
Amounts reclassified from accumulated other comprehensive income	46	38	8
Total stockholders' equity	2,305	2,722	3,020
Total liabilities and stockholders' equity	12,171	12,761	13,759
Property and equipment, accumulated depreciation	$ 4,950	$ 5,071	$ 5,603
Common stock, shares issued (in shares)	364	371	376
Common stock, shares authorized (in shares)	2,300	2,300	2,300
Common stock, par value (in dollars per share)	$ 0.05	$ 0.05	$ 0.05

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Millions, $ in Millions	Jul. 30, 2022	Jan. 29, 2022	Jul. 31, 2021
Property and equipment, accumulated depreciation	$ 4,950	$ 5,071	$ 5,603
Common stock, par value (in dollars per share)	$ 0.05	$ 0.05	$ 0.05
Common stock, shares authorized (in shares)	2,300	2,300	2,300

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021	Jul. 30, 2022	Jul. 31, 2021
Net Sales	$ 3,857	$ 4,211	$ 7,334	$ 8,202
Cost of goods sold and occupancy expenses	2,527	2,388	4,908	4,749
Gross profit	1,330	1,823	2,426	3,453
Operating Expenses	1,358	1,414	2,651	2,804
Operating income (loss)	(28)	409	(225)	649
Interest Expense	21	51	41	105
Interest income	(1)	(1)	(2)	(2)
Income (loss) before income taxes	(48)	359	(264)	546
Income taxes	1	101	(53)	122
Net income (loss)	$ (49)	$ 258	$ (211)	$ 424
Weighted-average number of shares - basic (in shares)	367	378	369	377
Weighted-average number of shares - diluted (in shares)	367	386	369	385
Earnings (loss) per share - basic (in dollars per share)	$ (0.13)	$ 0.68	$ (0.57)	$ 1.12
Earnings (loss) per share - diluted (in dollars per share)	$ (0.13)	$ 0.67	$ (0.57)	$ 1.10

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021	Jul. 30, 2022	Jul. 31, 2021
Net income (loss)	$ (49)	$ 258	$ (211)	$ 424
Other comprehensive income (loss), net of tax:
Foreign currency translation	4	1	7	(2)
Change in fair value of derivative financial instruments, net of tax (tax benefit)	0	0	2	0
Change in fair value of derivative financial instruments, net of tax (tax benefit)	2	0	9	(7)
Reclassification adjustment for (gains) losses on derivative financial instruments, net of (tax) tax benefit	1	1	0	1
Reclassification adjustment for (gains) losses on derivative financial instruments, net of (tax) tax benefit	(6)	5	(8)	8
Other comprehensive income (loss), net of tax	0	6	8	(1)
Comprehensive income (loss)	$ (49)	$ 264	$ (203)	$ 423

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021	Jul. 30, 2022	Jul. 31, 2021
Change in fair value of derivative financial instruments, net of tax (tax benefit)	$ 0	$ 0	$ 2	$ 0
Reclassification adjustment for (gains) losses on derivative financial instruments, net of (tax) tax benefit	$ 1	$ 1	$ 0	$ 1

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Stock options Common Stock [Member]	Stock Units [Member] Common Stock [Member]
Common stock, shares issued (in shares)		374
Stockholders' Equity Attributable to Parent	$ 2,614	$ 19	$ 85	$ 2,501	$ 9
Net income (loss)	424			424
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	(2)				(2)
Change in fair value of derivative financial instruments, net of tax (tax benefit)	(7)				(7)
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent	8				8
Stock Repurchased and Retired During Period, Shares		(2)
Stock Repurchased and Retired During Period, Value	(55)	$ 0	(55)
Stock Issued During Period, Shares, Other						2	2
Stock Issued During Period, Value, Other	41	0	41
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	(32)	$ 0	(32)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	$ 75		75
Common Stock, Dividends, Per Share, Declared	$ 0.12
Dividends, Cash	$ (46)			(46)
Common stock, shares issued (in shares)		377
Stockholders' Equity Attributable to Parent	2,806	$ 19	118	2,667	2
Net income (loss)	258			258
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	1				1
Change in fair value of derivative financial instruments, net of tax (tax benefit)	0				0
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent	5				5
Stock Repurchased and Retired During Period, Shares		(2)
Stock Repurchased and Retired During Period, Value	(55)	$ 0	(55)
Stock Issued During Period, Shares, Other						1	0
Stock Issued During Period, Value, Other	16	0	16
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	0	$ 0	0
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	$ 35		35
Common Stock, Dividends, Per Share, Declared	$ 0.12
Dividends, Cash	$ (46)			(46)
Common stock, shares issued (in shares)	376	376
Stockholders' Equity Attributable to Parent	$ 3,020	$ 19	114	2,879	8
Common stock, shares issued (in shares)	371	371
Stockholders' Equity Attributable to Parent	$ 2,722	$ 19	43	2,622	38
Net income (loss)	(211)			(211)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	7				7
Change in fair value of derivative financial instruments, net of tax (tax benefit)	9				9
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent	(8)				(8)
Stock Repurchased and Retired During Period, Shares		(9)
Stock Repurchased and Retired During Period, Value	(111)	$ 1	(51)	(59)
Stock Issued During Period, Shares, Other						1	1
Stock Issued During Period, Value, Other	15	0	15
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	(15)	$ 0	(15)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	$ 8		8
Common Stock, Dividends, Per Share, Declared	$ 0.30
Dividends, Cash	$ (111)			(111)
Common stock, shares issued (in shares)		369
Stockholders' Equity Attributable to Parent	2,454	$ 19	0	2,389	46
Net income (loss)	(49)			(49)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	4				4
Change in fair value of derivative financial instruments, net of tax (tax benefit)	2				2
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent	(6)				(6)
Stock Repurchased and Retired During Period, Shares		(5)
Stock Repurchased and Retired During Period, Value	(57)	$ 1	(12)	(44)
Stock Issued During Period, Shares, Other						0	0
Stock Issued During Period, Value, Other	8	0	8
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	(1)	$ 0	(1)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	$ 5		5
Common Stock, Dividends, Per Share, Declared	$ 0.15
Dividends, Cash	$ (55)			(55)
Common stock, shares issued (in shares)	364	364
Stockholders' Equity Attributable to Parent	$ 2,305	$ 18	$ 0	$ 2,241	$ 46

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021
Cash flows from operating activities:
Net income (loss)	$ (211)	$ 424
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	262	244
Share-based compensation	6	72
Operating Lease, Impairment Loss	0	6
Other Asset Impairment Charges	3	1
Amortization of Debt Issuance Costs	4	8
Non-cash and other items	(3)	14
Gain (Loss) on Disposition of Business	35	59
Deferred income taxes	(11)	28
Changes in operating assets and liabilities:
Merchandise inventory	(140)	156
Other current assets and other long-term assets	17	(98)
Accounts payable	(292)	(168)
Accrued expenses and other current liabilities	(191)	83
Income taxes payable, net of receivables and other tax-related items	372	(55)
Lease incentives and other long-term liabilities	4	57
Operating lease assets and liabilities, net	(62)	(39)
Net cash provided by (used for) operating activities	(207)	792
Cash flows from investing activities:
Purchases of property and equipment	(406)	(269)
Proceeds from Sale of Buildings	333	0
Payments to Acquire Short-term Investments	0	(427)
Proceeds from Sale, Maturity and Collection of Short-term Investments	0	500
Net cash paid for divestiture activity	0	(21)
Net cash provided by (used for) investing activities	(73)	(217)
Cash flows from financing activities:
Proceeds from Lines of Credit	350	0
Proceeds from issuances under share-based compensation plans	15	41
Withholding tax payments related to vesting of stock units	(15)	(32)
Repurchases of common stock	(111)	(55)
Cash dividends paid	(111)	(137)
Payments for Debt Issuance Costs	(6)	0
Net cash provided by (used for) financing activities	122	(183)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	(9)	(1)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	(167)	391
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents beginning of period	902	2,016
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents end of period	735	2,407
Supplemental disclosure of cash flow information:
Interest Paid, Excluding Capitalized Interest, Operating Activities	38	102
Cash paid (received) for income taxes during the period, net of refunds	$ (408)	$ 147

Accounting Policies

Accounting Policies	6 Months Ended
	Jul. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Accounting Policies [Text Block]	Accounting Policies Basis of Presentation In the opinion of The Gap, Inc. (the “Company,” “we,” and “our”) management, the accompanying unaudited Condensed Consolidated Financial Statements contain all normal and recurring adjustments (except as otherwise disclosed) considered necessary to present fairly our financial position, results of operations, comprehensive income (loss), stockholders' equity, and cash flows as of July 30, 2022 and July 31, 2021 and for all periods presented. The Condensed Consolidated Balance Sheet as of January 29, 2022 has been derived from our audited financial statements. The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission. Accordingly, certain information and disclosures normally included in the notes to the annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been omitted from these interim financial statements, although the Company believes that the disclosures made are adequate to make the information not misleading. We suggest that you read these Condensed Consolidated Financial Statements in conjunction with the Consolidated Financial Statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended January 29, 2022. The results of operations for the 13 and 26 weeks ended July 30, 2022 are not necessarily indicative of the operating results that may be expected for the 52-week period ending January 28, 2023. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from these estimates. Additionally, these estimates and assumptions may change as a result of the impact of global economic conditions such as the uncertainty regarding the coronavirus ("COVID-19") pandemic, the Russia-Ukraine crisis, and global inflationary pressures. We will continue to consider the impact of the global economic conditions on the assumptions and estimates used when preparing these Condensed Consolidated Financial Statements including inventory valuation, income taxes, and the impairment of long-lived store assets and operating lease assets. If the global economic conditions worsen beyond what is currently estimated by management, such future changes may have an adverse impact on the Company's results of operations and financial position. Restricted Cash As of July 30, 2022, restricted cash primarily included consideration that serves as collateral for certain obligations occurring in the normal course of business and our insurance obligations. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within our Condensed Consolidated Balance Sheets to the total shown on our Condensed Consolidated Statements of Cash Flows: ($ in millions) July 30, January 29, July 31, Cash and cash equivalents, per Condensed Consolidated Balance Sheets $ 708 $ 877 $ 2,375 Restricted cash included in other long-term assets 27 25 32 Total cash, cash equivalents, and restricted cash, per Condensed Consolidated Statements of Cash Flows $ 735 $ 902 $ 2,407 Accounting Pronouncements The Company has considered all recent accounting pronouncements and concluded that there are no recent accounting pronouncements that may have a material impact on our Condensed Consolidated Financial Statements and disclosures, based on current information.

Revenue

Revenue $ in Millions	6 Months Ended
	Jul. 30, 2022 USD ($)
Revenue from Contract with Customer [Abstract]
Liabilities, Other than Long-term Debt, Noncurrent	$ 60
Revenue from Contract with Customer [Text Block]	Revenue Disaggregation of Net Sales We disaggregate our net sales between stores and online and also by brand and region. Net sales by region are allocated based on the location of the store where the customer paid for and received the merchandise or the distribution center or store from which the products were shipped. Net sales disaggregated for stores and online sales are as follows: 13 Weeks Ended 26 Weeks Ended ($ in millions) July 30, 2022 July 31, 2021 July 30, 2022 July 31, 2021 Store sales (1) $ 2,553 $ 2,828 $ 4,690 $ 5,212 Online sales (2) 1,304 1,383 2,644 2,990 Total net sales $ 3,857 $ 4,211 $ 7,334 $ 8,202 __________ (1) Store sales primarily include sales made at our Company-operated stores and franchise sales. (2) Online sales primarily include sales originating from our online channel including those that are picked up or shipped from stores. Net sales disaggregated by brand and region are as follows: ($ in millions) Old Navy Global Gap Global Banana Republic Global Athleta Global Other (2) Total 13 Weeks Ended July 30, 2022 U.S. (1) $ 1,880 $ 565 $ 460 $ 335 $ 3 $ 3,243 Canada 183 82 53 7 — 325 Europe — 51 2 — — 53 Asia 1 141 18 — — 160 Other regions 26 42 6 2 — 76 Total $ 2,090 $ 881 $ 539 $ 344 $ 3 $ 3,857 ($ in millions) Old Navy Global Gap Global Banana Republic Global Athleta Global Other (3) Total 13 Weeks Ended July 31, 2021 U.S. (1) $ 2,177 $ 615 $ 428 $ 340 $ 11 $ 3,571 Canada 191 79 43 — — 313 Europe — 116 1 1 — 118 Asia — 135 19 — — 154 Other regions 22 29 4 — — 55 Total $ 2,390 $ 974 $ 495 $ 341 $ 11 $ 4,211 ($ in millions) Old Navy Global Gap Global Banana Republic Global Athleta Global Other (2) Total 26 Weeks Ended July 30, 2022 U.S. (1) $ 3,553 $ 1,062 $ 876 $ 679 $ 6 $ 6,176 Canada 330 146 96 16 — $ 588 Europe 1 105 3 2 — $ 111 Asia 1 282 34 — — $ 317 Other regions 46 77 12 7 — 142 Total $ 3,931 $ 1,672 $ 1,021 $ 704 $ 6 $ 7,334 ($ in millions) Old Navy Global Gap Global Banana Republic Global Athleta Global Other (3) Total 26 Weeks Ended July 31, 2021 U.S. (1) $ 4,276 $ 1,171 $ 761 $ 687 $ 100 $ 6,995 Canada 350 147 77 — — 574 Europe — 185 4 1 — 190 Asia 1 298 35 — — 334 Other regions 43 59 7 — — 109 Total $ 4,670 $ 1,860 $ 884 $ 688 $ 100 $ 8,202 __________ (1) U.S. includes the United States and Puerto Rico. (2) Primarily consists of net sales from revenue generating strategic initiatives. (3) Primarily consists of net sales for the Intermix brand, which was divested on May 21, 2021. Additionally, results for the 26 weeks ended July 31, 2021 also include net sales for the Janie and Jack brand, which was divested on April 8, 2021. Deferred Revenue We defer revenue when cash payments are received in advance of performance for unsatisfied obligations related to our gift cards, licensing agreements, outstanding loyalty points, and reimbursements of loyalty program discounts associated with our credit card agreement. For the 13 weeks ended July 30, 2022, the opening balance of deferred revenue for these obligations was $323 million, of which $125 million was recognized as revenue during the period. For the 26 weeks ended July 30, 2022, the opening balance of deferred revenue for these obligations was $345 million, of which $185 million was recognized as revenue during the period. The closing balance of deferred revenue for these obligations was $321 million as of July 30, 2022. For the 13 weeks ended July 31, 2021, the opening balance of deferred revenue for these obligations was $222 million, of which $81 million was recognized as revenue during the period. For the 26 weeks ended July 31, 2021, the opening balance of deferred revenue for these obligations was $231 million, of which $125 million was recognized as revenue during the period. The closing balance of deferred revenue for these obligations was $239 million as of July 31, 2021. The increase in the deferred revenue balance as of July 30, 2022 and the revenue recognition during the 13 and 26 weeks ended July 30, 2022 is primarily due to our new integrated loyalty program across the U.S. and Puerto Rico which launched in July 2021 and allows for faster accumulation and redemption of rewards. In April 2021, the Company entered into agreements with Barclays and Mastercard relating to a new long-term credit card program. During the second quarter of fiscal 2022, the Company launched the new credit card program with Barclays and Mastercard and accordingly, our prior credit card program with Synchrony Financial was discontinued. The Company received an upfront payment of $60 million related to the new agreements prior to the program launch, which is being recognized as revenue over the term of the agreement.

Debt and Credit Facilities

Debt and Credit Facilities	6 Months Ended
	Jul. 30, 2022
Debt Disclosure [Abstract]
Debt and Credit Facilities	Debt and Credit Facilities Long-term debt recorded on the Condensed Consolidated Balance Sheets consists of the following: ($ in millions) July 30, January 29, July 31, Secured Notes 2023 Notes $ — $ — $ 500 2025 Notes — — 750 2027 Notes — — 1,000 Senior Notes 2029 Notes 750 750 — 2031 Notes 750 750 — Less: Unamortized debt issuance costs (15) (16) (30) Total long-term debt $ 1,485 $ 1,484 $ 2,220 The scheduled maturity of the Senior Notes is as follows: Scheduled Maturity ($ in millions) Principal Interest Rate Interest Payments Senior Notes October 1, 2029 (1) $ 750 3.625 % Semi-Annual October 1, 2031 (2) 750 3.875 % Semi-Annual Total issuance $ 1,500 __________ (1) Includes an option to redeem the 2029 Notes, in whole or in part at any time, subject to a make-whole premium, prior to October 1, 2024. On or after October 1, 2024, includes an option to redeem the 2029 Notes, in whole or in part at any time, at stated redemption prices. (2) Includes an option to redeem the 2031 Notes, in whole or in part at any time, subject to a make-whole premium, prior to October 1, 2026. On or after October 1, 2026, includes an option to redeem the 2031 Notes, in whole or in part at any time, at stated redemption prices. In September 2021, we completed the issuance of $1.5 billion aggregate principal amount of 3.625 percent senior notes due 2029 (“2029 Notes”) and 3.875 percent senior notes due 2031 (“2031 Notes”) (the 2029 Notes and the 2031 Notes, collectively, the “Senior Notes”). As of July 30, 2022, the aggregate estimated fair value of the Senior Notes was $1.10 billion and was based on the quoted market prices for each of the Senior Notes (level 1 inputs) as of the last business day of the fiscal quarter. The aggregate principal amount of the Senior Notes is recorded in long-term debt on the Condensed Consolidated Balance Sheet, net of the unamortized debt issuance cost. On May 7, 2020, we entered into a senior secured asset-based revolving credit agreement (the "ABL Facility"), which was previously scheduled to expire in May 2023. On July 13, 2022, we entered into an amendment and restatement of the ABL Facility. Among other changes, the amendment and restatement extended the maturity of the ABL Facility to July 2027, increased the borrowing capacity from $1.8675 billion to $2.2 billion, modified the reference rate from the London Interbank Offered Rate ("LIBOR") to the Secured Overnight Financing Rate ("SOFR"), and reduced the applicable interest rate margin. Following the amendment and restatement, the ABL Facility generally bears interest at a per annum rate based on SOFR (subject to a zero floor) plus a margin, depending on borrowing base availability. The ABL Facility is available for working capital, capital expenditures, and other general corporate purposes. As of July 30, 2022, the Company's outstanding borrowing under the ABL Facility was $350 million. The variable interest rate on the drawn amount is adjusted SOFR (calculated to include a 0.10% credit adjustment spread) plus a margin of 1.25%. The borrowing was recorded in long-term liabilities on our Condensed Consolidated Balance Sheet as of July 30, 2022. We also have the ability to issue letters of credit on our ABL Facility. As of July 30, 2022, we had $51 million in standby letters of credit issued under the ABL Facility. The ABL Facility is secured by specified U.S. and Canadian assets, including a first lien on inventory, certain receivables, and related assets. The ABL Facility contains customary covenants restricting the Company's activities, as well as those of its subsidiaries, including limitations on the ability to sell assets, engage in mergers, or other fundamental changes, enter into capital leases or certain leases not in the ordinary course of business, enter into transactions involving related parties or derivatives, incur or prepay indebtedness, grant liens or negative pledges on its assets, make loans or other investments, pay dividends or repurchase stock or other securities, guarantee third-party obligations, engage in sale and lease-back transactions and make changes in its corporate structure. There are exceptions to these covenants, and some are only applicable when unused availability falls below specified thresholds. In addition, the ABL Facility includes, as a financial covenant, a springing fixed charge coverage ratio which arises when availability falls below a specified threshold. We also maintain multiple agreements with third parties that make unsecured revolving credit facilities available for our operations in foreign locations (the “Foreign Facilities”). The Foreign Facilities are uncommitted and had a total capacity of $47 million as of July 30, 2022. As of July 30, 2022, there were no borrowings under the Foreign Facilities. There were $9 million in bank guarantees issued and outstanding primarily related to store leases under the Foreign Facilities as of July 30, 2022.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jul. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company measures certain financial assets and liabilities at fair value on a recurring basis, including derivatives and available-for-sale debt securities. The Company categorizes financial assets and liabilities recorded at fair value based upon a three-level hierarchy that considers the related valuation techniques. There were no material purchases, sales, issuances, or settlements related to recurring level 3 measurements for the 13 and 26 weeks ended July 30, 2022 or July 31, 2021. There were no transfers of financial assets or liabilities into or out of level 1, level 2, and level 3 for the 13 and 26 weeks ended July 30, 2022 or July 31, 2021. Financial Assets and Liabilities Financial assets and liabilities measured at fair value on a recurring basis and cash equivalents are as follows: Fair Value Measurements at Reporting Date Using ($ in millions) July 30, 2022 Quoted Prices in Significant Other Significant Assets: Cash equivalents $ 28 $ — $ 28 $ — Derivative financial instruments 27 — 27 — Deferred compensation plan assets 41 41 — — Other assets 4 — — 4 Total $ 100 $ 41 $ 55 $ 4 Liabilities: Derivative financial instruments $ 6 $ — $ 6 $ — Fair Value Measurements at Reporting Date Using ($ in millions) January 29, 2022 Quoted Prices in Significant Other Significant Assets: Cash equivalents $ 27 $ — $ 27 $ — Derivative financial instruments 16 — 16 — Deferred compensation plan assets 40 40 — — Other assets 4 — — 4 Total $ 87 $ 40 $ 43 $ 4 Liabilities: Derivative financial instruments $ 2 $ — $ 2 $ — Fair Value Measurements at Reporting Date Using ($ in millions) July 31, 2021 Quoted Prices in Significant Other Significant Assets: Cash equivalents $ 476 $ 1 $ 475 $ — Short-term investments 337 304 33 — Derivative financial instruments 9 — 9 — Deferred compensation plan assets 51 51 — — Other assets 4 — — 4 Total $ 877 $ 356 $ 517 $ 4 Liabilities: Derivative financial instruments $ 16 $ — $ 16 $ — We have highly liquid fixed and variable income investments classified as cash equivalents. With the exception of our available-for-sale investments noted below, we value these investments at their original purchase prices plus interest that has accrued at the stated rate. Our cash equivalents are placed primarily in time deposits. Our available-for-sale securities are comprised of investments in debt securities and are recorded in both short-term investments and cash and cash equivalents on the Condensed Consolidated Balance Sheet. These securities are recorded at fair value using market prices. As of July 30, 2022 and January 29, 2022, the Company held no available-for-sale debt securities on the Condensed Consolidated Balance Sheets . As of July 31, 2021, the Company held $337 million of available-for-sale debt securities with maturity dates greater than three months and less than two years within short-term investments on the Condensed Consolidated Balance Sheet. In addition, as of July 31, 2021, the Company held $363 million of available-for-sale debt securities with maturities of three months or less at the time of purchase within cash and cash equivalents on the Condensed Consolidated Balance Sheet. Unrealized gains and losses on available-for-sale debt securities included within accumulated other comprehensive income were not material as of July 31, 2021. The Company regularly reviews any available-for-sale debt securities for other-than-temporary impairment. For the 13 and 26 weeks ended July 31, 2021, the Company did not consider any of its securities to be other-than-temporarily impaired and, accordingly, did not recognize any impairment loss. Derivative financial instruments primarily include foreign exchange forward contracts. The fair value of the Company’s derivative financial instruments is determined using pricing models based on current market rates. See Note 6 of Notes to Condensed Consolidated Financial Statements for information regarding currencies hedged against the U.S. dollar. We maintain the Gap, Inc. Deferred Compensation Plan (“DCP”), which allows eligible employees to defer base compensation and bonus up to a maximum percentage, and non-employee directors to defer receipt of a portion of their Board fees. Plan investments are directed by participants and are recorded at market value and designated for the DCP. The fair value of the Company’s DCP assets is determined based on quoted market prices, and the assets are recorded in other long-term assets on the Condensed Consolidated Balance Sheets. Nonfinancial Assets We review the carrying amount of long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The fair value of the long-lived assets is determined using level 3 inputs and based on discounted future cash flows of the asset or asset group using a discount rate commensurate with the risk. The asset group is defined as the lowest level for which identifiable cash flows are available and largely independent of the cash flows of other groups of assets, which for our retail stores is at the store level. There were no material impairment charges recorded for long-lived assets during the 13 and 26 weeks ended July 30, 2022 or July 31, 2021. We review the carrying amount of goodwill and other indefinite-lived intangible assets for impairment annually and whenever events or changes in circumstances indicate that it is more likely than not that the carrying amount may not be recoverable. There were no impairment charges recorded for goodwill or other indefinite-lived intangible assets for the 13 and 26 weeks ended July 30, 2022 or July 31, 2021.

Income Taxes

Income Taxes	6 Months Ended
	Jul. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesThe effective income tax rate was negative 2.1 percent for the 13 weeks ended July 30, 2022, compared with 28.1 percent for the 13 weeks ended July 31, 2021. The effective income tax rate was 20.1 percent for the 26 weeks ended July 30, 2022, compared with 22.3 percent for the 26 weeks ended July 31, 2021. The decrease in the effective tax rate for the 13 and 26 weeks ended July 30, 2022 compared with the 13 and 26 weeks ended July 31, 2021 is primarily due to changes in valuation allowances and the jurisdictional mix of pre-tax earnings.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jul. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments We operate in foreign countries, which exposes us to market risk associated with foreign currency exchange rate fluctuations. We use derivative financial instruments to manage our exposure to foreign currency exchange rate risk and do not enter into derivative financial contracts for trading purposes. Consistent with our risk management guidelines, we hedge a portion of our transactions related to merchandise purchases for foreign operations and certain intercompany transactions using foreign exchange forward contracts. These contracts are entered into with large, reputable financial institutions that are monitored for counterparty risk. The currencies hedged against changes in the U.S. dollar are the Canadian dollar, British pound, Japanese yen, Mexican peso, New Taiwan dollar, and Euro. Cash flows from derivative financial instruments are classified as cash flows from operating activities on the Condensed Consolidated Statements of Cash Flows. Derivative financial instruments are recorded at fair value on the Condensed Consolidated Balance Sheets as other current assets, other long-term assets, accrued expenses and other current liabilities, or other long-term liabilities. Cash Flow Hedges We designate foreign exchange forward contracts used to hedge forecasted merchandise purchases and related costs denominated in U.S. dollars made by our international subsidiaries whose functional currencies are their local currencies as cash flow hedges. The foreign exchange forward contracts entered into to hedge forecasted merchandise purchases and related costs generally have terms of 12 to 24 months. The effective portion of the gain or loss on the derivative financial instruments is reported as a component of other comprehensive income (loss) and is recognized into net income (loss) during the period in which the underlying transaction impacts the Condensed Consolidated Statements of Operations. Other Derivatives Not Designated as Hedging Instruments We use foreign exchange forward contracts to hedge our market risk exposure associated with foreign currency exchange rate fluctuations for certain intercompany balances denominated in currencies other than the functional currency of the entity with the intercompany balance. The gain or loss on the derivative financial instruments that represent economic hedges, as well as the remeasurement impact of the underlying intercompany balances, is recorded in operating expenses on the Condensed Consolidated Statements of Operations in the same period and generally offset each other. Outstanding Notional Amounts We had foreign exchange forward contracts outstanding in the following notional amounts: ($ in millions) July 30, January 29, July 31, Derivatives designated as cash flow hedges $ 504 $ 524 $ 673 Derivatives not designated as hedging instruments 786 702 733 Total $ 1,290 $ 1,226 $ 1,406 Quantitative Disclosures about Derivative Financial Instruments The fair values of foreign exchange forward contracts are as follows: ($ in millions) July 30, January 29, July 31, Derivatives designated as cash flow hedges: Other current assets $ 11 $ 10 $ 3 Other long-term assets 1 — — Accrued expenses and other current liabilities — — 10 Other long-term liabilities 1 — 1 Derivatives not designated as hedging instruments: Other current assets 15 6 6 Accrued expenses and other current liabilities 5 2 5 Total derivatives in an asset position $ 27 $ 16 $ 9 Total derivatives in a liability position $ 6 $ 2 $ 16 Substantially all of the unrealized gains and losses from designated cash flow hedges as of July 30, 2022 will be recognized in income (loss) within the next 12 months at the then-current values, which may differ from the fair values as of July 30, 2022 shown above. Our foreign exchange forward contracts are subject to master netting arrangements with each of our counterparties and such arrangements are enforceable in the event of default or early termination of the contract. We do not elect to offset the fair values of our derivative financial instruments on the Condensed Consolidated Balance Sheets, and as such, the fair values shown above represent gross amounts. The amounts subject to enforceable master netting arrangements were not material for all periods presented. See Note 4 of Notes to Condensed Consolidated Financial Statements for disclosures on the fair value measurements of our derivative financial instruments. The pre-tax amounts recognized in net income (loss) related to derivative instruments are as follows: Location and Amount of (Gain) Loss 13 Weeks Ended 13 Weeks Ended ($ in millions) Cost of goods sold and occupancy expenses Operating expenses Cost of goods sold and occupancy expenses Operating expenses Total amount of expense line items presented in the Condensed Consolidated Statements of Operations in which the effects of derivatives are recorded $ 2,527 $ 1,358 $ 2,388 $ 1,414 (Gain) loss recognized in net income (loss) Derivatives designated as cash flow hedges (5) — 6 — Derivatives not designated as hedging instruments — (7) — (6) Total (gain) loss recognized in net income (loss) $ (5) $ (7) $ 6 $ (6) Location and Amount of (Gain) Loss 26 Weeks Ended 26 Weeks Ended ($ in millions) Cost of goods sold and occupancy expenses Operating expenses Cost of goods sold and occupancy expenses Operating expenses Total amount of expense line items presented in the Condensed Consolidated Statements of Operations in which the effects of derivatives are recorded $ 4,908 $ 2,651 $ 4,749 $ 2,804 (Gain) loss recognized in net income (loss) Derivatives designated as cash flow hedges (8) — 9 — Derivatives not designated as hedging instruments — (29) — 5 Total (gain) loss recognized in net income (loss) $ (8) $ (29) $ 9 $ 5

Share Repurchases

Share Repurchases	6 Months Ended
	Jul. 30, 2022
Disclosure Share Repurchase Activity [Abstract]
Share Repurchases	Share Repurchases Share repurchase activity is as follows: 13 Weeks Ended 26 Weeks Ended ($ and shares in millions except average per share cost) July 30, July 31, July 30, July 31, Number of shares repurchased (1) 5.7 1.8 9.4 1.8 Total cost $ 57 $ 55 $ 111 $ 55 Average per share cost including commissions $ 9.99 $ 31.55 $ 11.77 $ 31.55 _________ (1) Excludes shares withheld to settle employee statutory tax withholding related to the vesting of stock units. In February 2019, the Company's Board of Directors (the "Board") approved a $1.0 billion share repurchase authorization (the "February 2019 repurchase program"). The February 2019 repurchase program had $488 million remaining as of July 30, 2022. All common stock repurchased is immediately retired.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	6 Months Ended
	Jul. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Earnings (Loss) Per Share Weighted-average number of shares used for earnings (loss) per share is as follows: 13 Weeks Ended 26 Weeks Ended (shares in millions) July 30, July 31, July 30, July 31, Weighted-average number of shares - basic 367 378 369 377 Common stock equivalents (1) — 8 — 8 Weighted-average number of shares - diluted 367 386 369 385 _________ (1) For the 13 and 26 weeks ended July 30, 2022, the dilutive impact of outstanding options and awards was excluded from dilutive shares as a result of the Company's net loss for the period.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jul. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies We are a party to a variety of contractual agreements under which we may be obligated to indemnify the other party for certain matters. These contracts primarily relate to our commercial contracts, operating leases, trademarks, intellectual property, financial agreements, and various other agreements. Under these contracts, we may provide certain routine indemnifications relating to representations and warranties (e.g., ownership of assets, environmental or tax indemnifications), or personal injury matters. The terms of these indemnifications range in duration and may not be explicitly defined. Generally, the maximum obligation under such indemnifications is not explicitly stated, and as a result, the overall amount of these obligations cannot be reasonably estimated. Historically, we have not made significant payments for these indemnifications. We believe that if we were to incur a loss in any of these matters, the loss would not have a material effect on our Condensed Consolidated Financial Statements taken as a whole. As a multinational company, we are subject to various proceedings, lawsuits, disputes, and claims ("Actions") arising in the ordinary course of our business. Many of these Actions raise complex factual and legal issues and are subject to uncertainties. As of July 30, 2022, Actions filed against us included commercial, intellectual property, customer, employment, securities, and data privacy claims, including class action lawsuits. The plaintiffs in some Actions seek unspecified damages or injunctive relief, or both. Actions are in various procedural stages and some are covered in part by insurance. As of July 30, 2022, January 29, 2022, and July 31, 2021, we recorded a liability for an estimated loss if the outcome of an Action is expected to result in a loss that is considered probable and reasonably estimable. The liability recorded was not material for any individual Action or in total for all periods presented. Subsequent to July 30, 2022, and through the filing date of this Quarterly Report on Form 10-Q, no information has become available that indicates a change is required that would be material to our Condensed Consolidated Financial Statements taken as a whole. We cannot predict with assurance the outcome of Actions brought against us. However, we do not believe that the outcome of any current Action would have a material effect on our Condensed Consolidated Financial Statements taken as a whole.

Segment Information

Segment Information	6 Months Ended
	Jul. 30, 2022
Segment Reporting [Abstract]
Segment Information	Segment Information We identify our operating segments according to how our business activities are managed and evaluated. As of July 30, 2022, our operating segments included: Old Navy Global, Gap Global, Banana Republic Global, and Athleta Global. Each operating segment has a brand president who is responsible for various geographies and channels. Each of our brands serves customer demand through stores and online channels, leveraging our omni-channel capabilities that allow customers to shop seamlessly across all of our brands. We have determined that each of our operating segments share similar economic and other qualitative characteristics, and therefore the results of our operating segments are aggregated into one reportable segment as of July 30, 2022. We continually monitor and review our segment reporting structure in accordance with authoritative guidance to determine whether any changes have occurred that would impact our reportable segments. See Note 2 of Notes to Condensed Consolidated Financial Statements for disaggregation of revenue for stores and online and by brand and region.

Divestitures

Divestitures	6 Months Ended
	Jul. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations, Disclosure	Divestitures On February 1, 2022, we completed the transition of our Gap Italy operations to a third party, OVS S.p.A. ("OVS"), to operate Gap Italy stores as a franchise partner. The impact from the transaction was not material to our Condensed Consolidated Financial Statements for the 26 weeks ended July 30, 2022. During the 13 weeks ended July 30, 2022, we received regulatory approvals to transition our Old Navy Mexico operations to a third party, Grupo Axo, to operate Old Navy Mexico stores as a franchise partner. As of July 30, 2022, the Company reclassified $73 million of assets and $35 million of liabilities for Old Navy Mexico as held for sale within other current assets and accrued expenses and other current liabilities, respectively, on the Condensed Consolidated Balance Sheet. The aggregate carrying amount of assets and liabilities classified as held for sale consists of $49 million of net operating lease assets, $16 million of fixed assets, $8 million of inventory, and $35 million of operating lease liabilities. We measured the disposal group at its estimated fair value less costs to sell. As a result of this transaction, the Company recognized a pre-tax loss of $35 million within operating expenses on the Condensed Consolidated Statement of Operations during the 13 weeks ended July 30, 2022. On August 1, 2022, we closed the transaction and transitioned our Old Navy stores in Mexico to Grupo Axo. The Company has also reclassified certain assets as held for sale assets that are expected to be sold in the next 12 months related to our distribution center in Rugby, England. The aggregate carrying amount of the assets held for sale, primarily consisting of fixed assets, was $43 million and was recorded within other current assets on the Condensed Consolidated Balance Sheet as of July 30, 2022. The Company divested its Janie and Jack and Intermix brands during the 26 weeks ended July 31, 2021. The divestiture of Janie and Jack was completed on April 8, 2021 and the divestiture of Intermix was completed on May 21, 2021. As a result of these transactions, the Company recognized a pre-tax loss of $59 million within operating expenses on the Condensed Consolidated Statement of Operations for the 26 weeks ended July 31, 2021.

Accounting Policies (Tables)

Accounting Policies (Tables)	6 Months Ended
	Jul. 30, 2022
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	As of July 30, 2022, restricted cash primarily included consideration that serves as collateral for certain obligations occurring in the normal course of business and our insurance obligations. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within our Condensed Consolidated Balance Sheets to the total shown on our Condensed Consolidated Statements of Cash Flows: ($ in millions) July 30, January 29, July 31, Cash and cash equivalents, per Condensed Consolidated Balance Sheets $ 708 $ 877 $ 2,375 Restricted cash included in other long-term assets 27 25 32 Total cash, cash equivalents, and restricted cash, per Condensed Consolidated Statements of Cash Flows $ 735 $ 902 $ 2,407

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jul. 30, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	Net sales disaggregated for stores and online sales are as follows: 13 Weeks Ended 26 Weeks Ended ($ in millions) July 30, 2022 July 31, 2021 July 30, 2022 July 31, 2021 Store sales (1) $ 2,553 $ 2,828 $ 4,690 $ 5,212 Online sales (2) 1,304 1,383 2,644 2,990 Total net sales $ 3,857 $ 4,211 $ 7,334 $ 8,202 __________ (1) Store sales primarily include sales made at our Company-operated stores and franchise sales.
Net Sales by Brand and Region	Net sales disaggregated by brand and region are as follows: ($ in millions) Old Navy Global Gap Global Banana Republic Global Athleta Global Other (2) Total 13 Weeks Ended July 30, 2022 U.S. (1) $ 1,880 $ 565 $ 460 $ 335 $ 3 $ 3,243 Canada 183 82 53 7 — 325 Europe — 51 2 — — 53 Asia 1 141 18 — — 160 Other regions 26 42 6 2 — 76 Total $ 2,090 $ 881 $ 539 $ 344 $ 3 $ 3,857 ($ in millions) Old Navy Global Gap Global Banana Republic Global Athleta Global Other (3) Total 13 Weeks Ended July 31, 2021 U.S. (1) $ 2,177 $ 615 $ 428 $ 340 $ 11 $ 3,571 Canada 191 79 43 — — 313 Europe — 116 1 1 — 118 Asia — 135 19 — — 154 Other regions 22 29 4 — — 55 Total $ 2,390 $ 974 $ 495 $ 341 $ 11 $ 4,211 ($ in millions) Old Navy Global Gap Global Banana Republic Global Athleta Global Other (2) Total 26 Weeks Ended July 30, 2022 U.S. (1) $ 3,553 $ 1,062 $ 876 $ 679 $ 6 $ 6,176 Canada 330 146 96 16 — $ 588 Europe 1 105 3 2 — $ 111 Asia 1 282 34 — — $ 317 Other regions 46 77 12 7 — 142 Total $ 3,931 $ 1,672 $ 1,021 $ 704 $ 6 $ 7,334 ($ in millions) Old Navy Global Gap Global Banana Republic Global Athleta Global Other (3) Total 26 Weeks Ended July 31, 2021 U.S. (1) $ 4,276 $ 1,171 $ 761 $ 687 $ 100 $ 6,995 Canada 350 147 77 — — 574 Europe — 185 4 1 — 190 Asia 1 298 35 — — 334 Other regions 43 59 7 — — 109 Total $ 4,670 $ 1,860 $ 884 $ 688 $ 100 $ 8,202 __________ (1) U.S. includes the United States and Puerto Rico. (2) Primarily consists of net sales from revenue generating strategic initiatives. (3) Primarily consists of net sales for the Intermix brand, which was divested on May 21, 2021. Additionally, results for the 26 weeks ended July 31, 2021 also include net sales for the Janie and Jack brand, which was divested on April 8, 2021.

Debt and Credit Facilities Long

Debt and Credit Facilities Long Term Debt (Tables)	6 Months Ended
	Jul. 30, 2022
Debt Disclosure [Abstract]
Long Term Debt	Long-term debt recorded on the Condensed Consolidated Balance Sheets consists of the following: ($ in millions) July 30, January 29, July 31, Secured Notes 2023 Notes $ — $ — $ 500 2025 Notes — — 750 2027 Notes — — 1,000 Senior Notes 2029 Notes 750 750 — 2031 Notes 750 750 — Less: Unamortized debt issuance costs (15) (16) (30) Total long-term debt $ 1,485 $ 1,484 $ 2,220
Schedule of Maturities of Long-term Debt [Table Text Block]	The scheduled maturity of the Senior Notes is as follows: Scheduled Maturity ($ in millions) Principal Interest Rate Interest Payments Senior Notes October 1, 2029 (1) $ 750 3.625 % Semi-Annual October 1, 2031 (2) 750 3.875 % Semi-Annual Total issuance $ 1,500 __________ (1) Includes an option to redeem the 2029 Notes, in whole or in part at any time, subject to a make-whole premium, prior to October 1, 2024. On or after October 1, 2024, includes an option to redeem the 2029 Notes, in whole or in part at any time, at stated redemption prices. (2) Includes an option to redeem the 2031 Notes, in whole or in part at any time, subject to a make-whole premium, prior to October 1, 2026. On or after October 1, 2026, includes an option to redeem the 2031 Notes, in whole or in part at any time, at stated redemption prices.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jul. 30, 2022
Fair Value Disclosures [Abstract]
Financial Assets And Liabilities Measured At Fair Value On Recurring Basis	Financial assets and liabilities measured at fair value on a recurring basis and cash equivalents are as follows: Fair Value Measurements at Reporting Date Using ($ in millions) July 30, 2022 Quoted Prices in Significant Other Significant Assets: Cash equivalents $ 28 $ — $ 28 $ — Derivative financial instruments 27 — 27 — Deferred compensation plan assets 41 41 — — Other assets 4 — — 4 Total $ 100 $ 41 $ 55 $ 4 Liabilities: Derivative financial instruments $ 6 $ — $ 6 $ — Fair Value Measurements at Reporting Date Using ($ in millions) January 29, 2022 Quoted Prices in Significant Other Significant Assets: Cash equivalents $ 27 $ — $ 27 $ — Derivative financial instruments 16 — 16 — Deferred compensation plan assets 40 40 — — Other assets 4 — — 4 Total $ 87 $ 40 $ 43 $ 4 Liabilities: Derivative financial instruments $ 2 $ — $ 2 $ — Fair Value Measurements at Reporting Date Using ($ in millions) July 31, 2021 Quoted Prices in Significant Other Significant Assets: Cash equivalents $ 476 $ 1 $ 475 $ — Short-term investments 337 304 33 — Derivative financial instruments 9 — 9 — Deferred compensation plan assets 51 51 — — Other assets 4 — — 4 Total $ 877 $ 356 $ 517 $ 4 Liabilities: Derivative financial instruments $ 16 $ — $ 16 $ —

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	6 Months Ended
	Jul. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Foreign Exchange Forward Contracts Outstanding	We had foreign exchange forward contracts outstanding in the following notional amounts: ($ in millions) July 30, January 29, July 31, Derivatives designated as cash flow hedges $ 504 $ 524 $ 673 Derivatives not designated as hedging instruments 786 702 733 Total $ 1,290 $ 1,226 $ 1,406
Fair Values of Asset and Liability Derivative Financial Instruments	The fair values of foreign exchange forward contracts are as follows: ($ in millions) July 30, January 29, July 31, Derivatives designated as cash flow hedges: Other current assets $ 11 $ 10 $ 3 Other long-term assets 1 — — Accrued expenses and other current liabilities — — 10 Other long-term liabilities 1 — 1 Derivatives not designated as hedging instruments: Other current assets 15 6 6 Accrued expenses and other current liabilities 5 2 5 Total derivatives in an asset position $ 27 $ 16 $ 9 Total derivatives in a liability position $ 6 $ 2 $ 16
Effects of Derivative Financial Instruments on OCI and Condensed Consolidated Statements of Income	The pre-tax amounts recognized in net income (loss) related to derivative instruments are as follows: Location and Amount of (Gain) Loss 13 Weeks Ended 13 Weeks Ended ($ in millions) Cost of goods sold and occupancy expenses Operating expenses Cost of goods sold and occupancy expenses Operating expenses Total amount of expense line items presented in the Condensed Consolidated Statements of Operations in which the effects of derivatives are recorded $ 2,527 $ 1,358 $ 2,388 $ 1,414 (Gain) loss recognized in net income (loss) Derivatives designated as cash flow hedges (5) — 6 — Derivatives not designated as hedging instruments — (7) — (6) Total (gain) loss recognized in net income (loss) $ (5) $ (7) $ 6 $ (6) Location and Amount of (Gain) Loss 26 Weeks Ended 26 Weeks Ended ($ in millions) Cost of goods sold and occupancy expenses Operating expenses Cost of goods sold and occupancy expenses Operating expenses Total amount of expense line items presented in the Condensed Consolidated Statements of Operations in which the effects of derivatives are recorded $ 4,908 $ 2,651 $ 4,749 $ 2,804 (Gain) loss recognized in net income (loss) Derivatives designated as cash flow hedges (8) — 9 — Derivatives not designated as hedging instruments — (29) — 5 Total (gain) loss recognized in net income (loss) $ (8) $ (29) $ 9 $ 5

Share Repurchases (Tables)

Share Repurchases (Tables)	6 Months Ended
	Jul. 30, 2022
Disclosure Share Repurchase Activity [Abstract]
Share Repurchase Activity	13 Weeks Ended 26 Weeks Ended ($ and shares in millions except average per share cost) July 30, July 31, July 30, July 31, Number of shares repurchased (1) 5.7 1.8 9.4 1.8 Total cost $ 57 $ 55 $ 111 $ 55 Average per share cost including commissions $ 9.99 $ 31.55 $ 11.77 $ 31.55 _________ (1) Excludes shares withheld to settle employee statutory tax withholding related to the vesting of stock units.

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	6 Months Ended
	Jul. 30, 2022
Earnings Per Share [Abstract]
Weighted-Average Number of Shares	Weighted-average number of shares used for earnings (loss) per share is as follows: 13 Weeks Ended 26 Weeks Ended (shares in millions) July 30, July 31, July 30, July 31, Weighted-average number of shares - basic 367 378 369 377 Common stock equivalents (1) — 8 — 8 Weighted-average number of shares - diluted 367 386 369 385 _________ (1) For the 13 and 26 weeks ended July 30, 2022, the dilutive impact of outstanding options and awards was excluded from dilutive shares as a result of the Company's net loss for the period.

Accounting Policies Supplementa

Accounting Policies Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Millions	Jul. 30, 2022	Jan. 29, 2022	Jul. 31, 2021	Jan. 30, 2021
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents	$ 708	$ 877	$ 2,375
Restricted Cash, Noncurrent	27	25	32
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents end of period	735	902	2,407	$ 2,016
Reconciliation of Cash Flow Cash, Cash Equiv. and Restricted Cash to Balance Sheet
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents	708	877	2,375
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents end of period	$ 735	$ 902	$ 2,407

Revenue Disaggregation (Details

Revenue Disaggregation (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jul. 30, 2022	Jul. 31, 2021	Jul. 30, 2022	Jul. 31, 2021
Disaggregation of Revenue
Revenues		$ 3,857	$ 4,211	$ 7,334	$ 8,202
Store Sales
Disaggregation of Revenue
Revenues	[1]	2,553	2,828	4,690	5,212
Online Sales
Disaggregation of Revenue
Revenues	[2]	$ 1,304	$ 1,383	$ 2,644	$ 2,990
[1]Store sales primarily include sales made at our Company-operated stores and franchise sales.[2]Online sales primarily include sales originating from our online channel including those that are picked up or shipped from stores.

Net Sales by Brand and Region (

Net Sales by Brand and Region (Details) - USD ($) $ in Millions		3 Months Ended				6 Months Ended
		Jul. 30, 2022		Jul. 31, 2021		Jul. 30, 2022		Jul. 31, 2021
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		$ 3,857		$ 4,211		$ 7,334		$ 8,202
Old Navy
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		2,090		2,390		3,931		4,670
Gap
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		881		974		1,672		1,860
Banana Republic [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		539		495		1,021		884
Athleta [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		344		341		704		688
Other entities [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		3	[1]	11	[2]	6	[1]	100	[2]
U.S.
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales	[3]	3,243		3,571		6,176		6,995
U.S. | Old Navy
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales	[3]	1,880		2,177		3,553		4,276
U.S. | Gap
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales	[3]	565		615		1,062		1,171
U.S. | Banana Republic [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales	[3]	460		428		876		761
U.S. | Athleta [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales	[3]	335		340		679		687
U.S. | Other entities [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales	[3]	3	[1]	11	[2]	6	[1]	100	[2]
Canada
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		325		313		588		574
Canada | Old Navy
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		183		191		330		350
Canada | Gap
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		82		79		146		147
Canada | Banana Republic [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		53		43		96		77
Canada | Athleta [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		7		0		16		0
Canada | Other entities [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		0	[1]	0	[2]	0	[1]	0	[2]
Europe
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		53		118		111		190
Europe | Old Navy
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		0		0		1		0
Europe | Gap
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		51		116		105		185
Europe | Banana Republic [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		2		1		3		4
Europe | Athleta [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		0		1		2		1
Europe | Other entities [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		0	[1]	0	[2]	0	[1]	0	[2]
Asia
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		160		154		317		334
Asia | Old Navy
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		1		0		1		1
Asia | Gap
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		141		135		282		298
Asia | Banana Republic [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		18		19		34		35
Asia | Athleta [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		0		0		0		0
Asia | Other entities [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		0	[1]	0	[2]	0	[1]	0	[2]
Other Regions
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		76		55		142		109
Other Regions | Old Navy
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		26		22		46		43
Other Regions | Gap
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		42		29		77		59
Other Regions | Banana Republic [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		6		4		12		7
Other Regions | Athleta [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		2		0		7		0
Other Regions | Other entities [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		$ 0	[1]	$ 0	[2]	$ 0	[1]	$ 0	[2]
[1]Primarily consists of net sales from revenue generating strategic initiatives.[2]Primarily consists of net sales for the Intermix brand, which was divested on May 21, 2021. Additionally, results for the 26 weeks ended July 31, 2021 also include net sales for the Janie and Jack brand, which was divested on April 8, 2021.[3]U.S. includes the United States and Puerto Rico.

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021	Jul. 30, 2022	Jul. 31, 2021	Apr. 30, 2022	Jan. 29, 2022	May 01, 2021	Jan. 30, 2021
Revenue from Contract with Customer [Abstract]
Contract with Customer, Liability	$ 321	$ 239	$ 321	$ 239	$ 323	$ 345	$ 222	$ 231
Contract with Customer, Liability, Revenue Recognized	125	$ 81	185	$ 125
Liabilities, Other than Long-term Debt, Noncurrent	$ 60		$ 60

Debt and Credit Facilities Lo_2

Debt and Credit Facilities Long Term Debt (Details) - USD ($) $ in Millions	Jul. 30, 2022		Jan. 29, 2022	Jul. 31, 2021
Debt Instrument [Line Items]
Notes	$ 1,485		$ 1,484	$ 2,220
Total long-term debt	1,485		1,484	2,220
Unamortized Debt Issuance Expense	(15)		(16)	(30)
Debt Instrument, Face Amount	1,500
2029 Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	750	[1]	750	0
2031 Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	750	[2]	750	0
2023 Notes [Member]
Debt Instrument [Line Items]
Notes	0		0	500
2025 Notes [Member]
Debt Instrument [Line Items]
Notes	0		0	750
2027 Notes [Member]
Debt Instrument [Line Items]
Notes	$ 0		$ 0	$ 1,000
[1] Includes an option to redeem the 2029 Notes, in whole or in part at any time, subject to a make-whole premium, prior to October 1, 2024. On or after October 1, 2024, includes an option to redeem the 2029 Notes, in whole or in part at any time, at stated redemption prices.

Debt and Credit Facilities Sche

Debt and Credit Facilities Scheduled Maturity of Notes (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 30, 2022		Jan. 29, 2022	Jul. 31, 2021
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 1,500
2031 Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 750	[1]	$ 750	$ 0
Debt Instrument, Interest Rate, Stated Percentage	3.875%
Debt Instrument, Payment Terms	Semi-Annual
2029 Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 750	[2]	$ 750	$ 0
Debt Instrument, Interest Rate, Stated Percentage	3.625%
Debt Instrument, Payment Terms	Semi-Annual
[1]Includes an option to redeem the 2031 Notes, in whole or in part at any time, subject to a make-whole premium, prior to October 1, 2026. On or after October 1, 2026, includes an option to redeem the 2031 Notes, in whole or in part at any time, at stated redemption prices.[2] Includes an option to redeem the 2029 Notes, in whole or in part at any time, subject to a make-whole premium, prior to October 1, 2024. On or after October 1, 2024, includes an option to redeem the 2029 Notes, in whole or in part at any time, at stated redemption prices.

Debt and Credit Facilities - Ad

Debt and Credit Facilities - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Jul. 30, 2022		Apr. 30, 2022	Jan. 29, 2022	Jul. 31, 2021
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 1,500
Estimated fair value	1,100
Long-term Line of Credit	350			$ 0	$ 0
2029 Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 750	[1]		750	0
Debt Instrument, Interest Rate, Stated Percentage	3.625%
2031 Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 750	[2]		$ 750	$ 0
Debt Instrument, Interest Rate, Stated Percentage	3.875%
ABL Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum borrowing capacity	$ 2,200		$ 1,867.5
Unsecured committed letter of credit amount	51
Long-term Line of Credit	$ 350
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.25%
Line of Credit Facility, Expiration Date	Jul. 13, 2027
Line of Credit Facility Old Agreement Expiration Date	May 31, 2023
ABL Facility [Member] | Credit Adjustment Spread [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.10%
Foreign Facilities [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum borrowing capacity	$ 47
Long-term Line of Credit	0
Bank guarantees related to store leases	$ 9
[1] Includes an option to redeem the 2029 Notes, in whole or in part at any time, subject to a make-whole premium, prior to October 1, 2024. On or after October 1, 2024, includes an option to redeem the 2029 Notes, in whole or in part at any time, at stated redemption prices.

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Millions	Jul. 30, 2022	Jan. 29, 2022	Jul. 31, 2021
Assets:
Cash equivalents	$ 28	$ 27	$ 476
Short-term investments	0	0	337
Derivative financial instruments	27	16	9
Deferred compensation plan assets	41	40	51
Other Assets, Fair Value Disclosure	4	4	4
Total	100	87	877
Liabilities:
Derivative financial instruments	6	2	16
Fair Value, Inputs, Level 1 [Member]
Assets:
Cash equivalents	0	0	1
Short-term investments			304
Derivative financial instruments	0	0	0
Deferred compensation plan assets	41	40	51
Other Assets, Fair Value Disclosure	0	0	0
Total	41	40	356
Liabilities:
Derivative financial instruments	0	0	0
Fair Value, Inputs, Level 2 [Member]
Assets:
Cash equivalents	28	27	475
Short-term investments			33
Derivative financial instruments	27	16	9
Deferred compensation plan assets	0	0	0
Other Assets, Fair Value Disclosure	0	0	0
Total	55	43	517
Liabilities:
Derivative financial instruments	6	2	16
Fair Value, Inputs, Level 3 [Member]
Assets:
Cash equivalents	0	0	0
Short-term investments			0
Derivative financial instruments	0	0	0
Deferred compensation plan assets	0	0	0
Other Assets, Fair Value Disclosure	4	4	4
Total	4	4	4
Liabilities:
Derivative financial instruments	$ 0	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021	Jul. 30, 2022	Jul. 31, 2021	Jan. 29, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Transfers into or out of level 2	$ 0	$ 0	$ 0	$ 0
Fair Value Asset Level 3 Transfer Amount	0	0	0	0
Transfers into or out of level 1	0	0	0	0
Purchases, sales, issuances, or settlements related to recurring level 3 measurements	0	0	0	0
Short-term investments	$ 0	337,000,000	$ 0	337,000,000	$ 0
Cash and Cash Equivalents, Fair Value Disclosure		363,000,000		$ 363,000,000
Debt Securities, Available-for-sale, Unrealized Gain (Loss)		$ 0

Fair Value Measurements Long Li

Fair Value Measurements Long Lived Assets Impairments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021	Jul. 30, 2022	Jul. 31, 2021
Long Lived Assets [Line Items]
Goodwill, Impairment Loss	$ 0	$ 0	$ 0	$ 0
Total Impairment Charges	0	0	0	0
Other indefinite-lived intangible assets impairment charges	$ 0	0	$ 0	0
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale		$ 0		$ 0

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)	3 Months Ended		6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021	Jul. 30, 2022	Jul. 31, 2021
Income Tax Disclosure [Abstract]
Effective Income Tax Rate, Percent	(2.10%)	28.10%	20.10%	22.30%

Derivative Financial Instrume_3

Derivative Financial Instruments - Foreign Exchange Contracts Outstanding to Sell Various Currencies (Details) - USD ($) $ in Millions	Jul. 30, 2022	Jan. 29, 2022	Jul. 31, 2021
Derivative [Line Items]
Derivative, Notional Amount	$ 1,290	$ 1,226	$ 1,406
Derivatives in cash flow hedging relationships
Derivative [Line Items]
Derivative, Notional Amount	504	524	673
Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative, Notional Amount	$ 786	$ 702	$ 733

Derivative Financial Instrume_4

Derivative Financial Instruments - Fair Values of Asset and Liability Derivative Financial Instruments (Details) - USD ($) $ in Millions	Jul. 30, 2022	Jan. 29, 2022	Jul. 31, 2021
Derivatives, Fair Value [Line Items]
Derivative financial instruments, assets	$ 27	$ 16	$ 9
Derivative financial instruments, liabilities	6	2	16
Foreign Exchange Forward Contract
Derivatives, Fair Value [Line Items]
Derivative financial instruments, assets	27	16	9
Derivative financial instruments, liabilities	6	2	16
Derivatives in cash flow hedging relationships | Foreign Exchange Forward Contract | Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative financial instruments, assets	11	10	3
Derivatives in cash flow hedging relationships | Foreign Exchange Forward Contract | Other Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative financial instruments, assets	1	0	0
Derivatives in cash flow hedging relationships | Foreign Exchange Forward Contract | Accrued Liabilities Current [Member]
Derivatives, Fair Value [Line Items]
Derivative financial instruments, liabilities	0	0	10
Derivatives in cash flow hedging relationships | Foreign Exchange Forward Contract | Lease Incentive And Other Long Term Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative financial instruments, liabilities	1	0	1
Not Designated as Hedging Instrument | Foreign Exchange Forward Contract | Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative financial instruments, assets	15	6	6
Not Designated as Hedging Instrument | Foreign Exchange Forward Contract | Accrued Liabilities Current [Member]
Derivatives, Fair Value [Line Items]
Derivative financial instruments, liabilities	$ 5	$ 2	$ 5

Derivative Financial Instrume_5

Derivative Financial Instruments - Effects Of Derivative Financial Instruments On OCI And Condensed Consolidated Statements Of Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021	Jul. 30, 2022	Jul. 31, 2021
Derivative Instruments, (Gain) Loss [Line Items]
Cost of goods sold and occupancy expenses	$ 2,527	$ 2,388	$ 4,908	$ 4,749
Operating Expenses	1,358	1,414	2,651	2,804
Cost of Goods Sold and Occupancy Expense
Derivative Instruments, (Gain) Loss [Line Items]
(Gain) loss reclassified from accumulated OCI into income, effective portion, net	(5)	6	(8)	9
Operating Expenses [Member]
Derivative Instruments, (Gain) Loss [Line Items]
(Gain) loss reclassified from accumulated OCI into income, effective portion, net	(7)	(6)	(29)	5
Foreign Exchange Forward Contract | Cost of Goods Sold and Occupancy Expense | Not Designated as Hedging Instrument
Derivative Instruments, (Gain) Loss [Line Items]
(Gain) loss reclassified from accumulated OCI into income, effective portion, net	0	0	0	0
Foreign Exchange Forward Contract | Cost of Goods Sold and Occupancy Expense | Derivatives in cash flow hedging relationships
Derivative Instruments, (Gain) Loss [Line Items]
(Gain) loss reclassified from accumulated OCI into income, effective portion, net	(5)	6	(8)	9
Foreign Exchange Forward Contract | Operating Expenses [Member] | Not Designated as Hedging Instrument
Derivative Instruments, (Gain) Loss [Line Items]
(Gain) loss reclassified from accumulated OCI into income, effective portion, net	(7)	(6)	(29)	5
Foreign Exchange Forward Contract | Operating Expenses [Member] | Derivatives in cash flow hedging relationships
Derivative Instruments, (Gain) Loss [Line Items]
(Gain) loss reclassified from accumulated OCI into income, effective portion, net	$ 0	$ 0	$ 0	$ 0

Derivative Financial Instrume_6

Derivative Financial Instruments - Additional Information (Details) - USD ($) $ in Millions	Jul. 30, 2022	Jan. 29, 2022	Jul. 31, 2021
Derivative [Line Items]
Amounts Subject to Enforceable Master Netting Arrangements	$ 0	$ 0	$ 0

Share Repurchase Activity (Deta

Share Repurchase Activity (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended				6 Months Ended
	Jul. 30, 2022		Jul. 31, 2021		Jul. 30, 2022	Jul. 31, 2021	Feb. 26, 2019
Disclosure Share Repurchase Activity [Abstract]
Number of shares repurchased	5.7	[1]	1.8	[1]	9.4	1.8
Total cost	$ 57		$ 55		$ 111	$ 55
Average per share cost including commissions (in dollars per share)	$ 9.99		$ 31.55		$ 11.77	$ 31.55
Stock Repurchase Program, Authorized Amount							$ 1,000
Share repurchases, remaining amount	$ 488				$ 488
[1]Excludes shares withheld to settle employee statutory tax withholding related to the vesting of stock units.

Earnings (Loss) Per Share - Wei

Earnings (Loss) Per Share - Weighted Average Number of Shares (Details) - shares shares in Millions	3 Months Ended			6 Months Ended
	Jul. 30, 2022		Jul. 31, 2021	Jul. 30, 2022	Jul. 31, 2021
Earnings Per Share [Abstract]
Weighted-average number of shares - basic (in shares)	367		378	369	377
Common stock equivalents (in shares)	0	[1]	8	0	8
Weighted-average number of shares - diluted (in shares)	367		386	369	385
[1]For the 13 and 26 weeks ended July 30, 2022, the dilutive impact of outstanding options and awards was excluded from dilutive shares as a result of the Company's net loss for the period.

Earnings (Loss) Per Share - Add

Earnings (Loss) Per Share - Additional Information (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021	Jul. 30, 2022	Jul. 31, 2021
Earnings Per Share [Abstract]
Shares excluded from the computations of weighted-average number of shares - diluted	17	3	12	3

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	Jul. 30, 2022	Jan. 29, 2022	Jul. 31, 2021
Commitments and Contingencies [Line Items]
Loss Contingency, Estimate of Possible Loss	$ 0	$ 0	$ 0

Segment Information - Additiona

Segment Information - Additional Information (Details)	6 Months Ended
	Jul. 30, 2022 Segment
Segment Reporting [Abstract]
Number of reportable segments (in segments)	1

Divestitures - Additional Infor

Divestitures - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (Loss) on Disposition of Business	$ 35	$ 59
Distribution Center [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Other Assets	43
Old Navy Mexico [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Assets	73
Disposal Group, Including Discontinued Operation, Liabilities	35
Old Navy Mexico [Member] | Property Subject to Operating Lease
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Liabilities	35
Old Navy Mexico [Member] | Property Subject to Operating Lease
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Assets	49
Old Navy Mexico [Member] | Inventories
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Assets	8
Old Navy Mexico [Member] | Property, Plant and Equipment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Assets	$ 16