The Gap, Inc. (GAP) 10-Q 21 Nov 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Oct. 28, 2023	Nov. 14, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 28, 2023
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		370,833,344
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000039911
Current Fiscal Year End Date	--02-03
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) shares in Millions, $ in Millions	Oct. 28, 2023	Jan. 28, 2023	Oct. 29, 2022
Current assets:
Cash and cash equivalents	$ 1,351	$ 1,215	$ 679
Merchandise inventory	2,377	2,389	3,043
Other current assets	646	1,013	1,316
Total current assets	4,374	4,617	5,038
Property and equipment, net of accumulated depreciation	2,552	2,688	2,788
Operating Lease, Right-of-Use Asset	3,200	3,173	3,341
Other long-term assets	926	908	833
Total assets	11,052	11,386	12,000
Current liabilities:
Accounts payable	1,433	1,320	1,388
Accrued expenses and other current liabilities	1,078	1,219	1,245
Operating Lease, Liability, Current	604	667	691
Income taxes payable	24	50	57
Total current liabilities	3,139	3,256	3,381
Long-term liabilities:
Long-term Line of Credit	0	350	350
Total long-term debt	1,488	1,486	1,486
Operating Lease, Liability, Noncurrent	3,456	3,517	3,673
Lease incentives and other long-term liabilities	509	544	539
Total long-term liabilities	$ 5,453	$ 5,897	$ 6,048
Common stock, shares outstanding (in shares)	371	366	365
Stockholders' equity:
Authorized 2,300 shares for all periods presented	$ 18	$ 18	$ 18
Additional Paid in Capital	93	27	16
Retained earnings	2,291	2,140	2,468
Amounts reclassified from accumulated other comprehensive income	58	48	69
Total stockholders' equity	2,460	2,233	2,571
Liabilities and Equity	$ 11,052	$ 11,386	$ 12,000
Common stock, shares issued (in shares)	371	366	365
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	Oct. 28, 2023	Jan. 28, 2023	Oct. 29, 2022
Property and equipment, accumulated depreciation	$ 4,890	$ 4,837	$ 4,957
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		9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Net Sales	$ 3,767	$ 4,039	$ 10,591	$ 11,373
Cost of goods sold and occupancy expenses	2,211	2,530	6,488	7,438
Gross profit	1,556	1,509	4,103	3,935
Operating Expenses	1,306	1,323	3,757	3,974
Operating income (loss)	250	186	346	(39)
Interest Expense	28	22	66	63
Interest income	(28)	(4)	(58)	(6)
Income (Loss) before income taxes	250	168	338	(96)
Income taxes	32	(114)	21	(167)
Net income (loss)	$ 218	$ 282	$ 317	$ 71
Weighted-average number of shares - basic (in shares)	371	365	369	367
Weighted-average number of shares - diluted (in shares)	375	366	373	370
Earnings (loss) per share - basic (in dollars per share)	$ 0.59	$ 0.77	$ 0.86	$ 0.19
Earnings (loss) per share - diluted (in dollars per share)	$ 0.58	$ 0.77	$ 0.85	$ 0.19

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Net income (loss)	$ 218	$ 282	$ 317	$ 71
Other comprehensive income (loss), net of tax:
Foreign currency translation	5	6	1	13
Change in fair value of derivative financial instruments, net of tax (tax benefit)	16	31	22	40
Reclassification adjustment for (gains) losses on derivative financial instruments, net of (tax) tax benefit	1	0	0	0
Reclassification adjustment for (gains) losses on derivative financial instruments, net of (tax) tax benefit	(7)	(14)	(13)	(22)
Other comprehensive income (loss), net of tax	14	23	10	31
Comprehensive income (loss)	232	305	327	102
Change in fair value of derivative financial instruments, net of tax (tax benefit)	$ 1	$ 1	$ 3	$ 3

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Change in fair value of derivative financial instruments, net of tax (tax benefit)	$ 1	$ 1	$ 3	$ 3
Reclassification adjustment for (gains) losses on derivative financial instruments, net of (tax) tax benefit	$ 1	$ 0	$ 0	$ 0

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)		371
Stockholders' Equity Attributable to Parent	$ 2,722	$ 19	$ 43	$ 2,622	$ 38
Net income (loss)	71			71
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	13				13
Change in fair value of derivative financial instruments, net of tax (tax benefit)	40				40
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent	(22)				(22)
Stock Repurchased and Retired During Period, Shares		(11)
Stock Repurchased and Retired During Period, Value	(123)	$ 1	(63)	(59)
Stock Issued During Period, Shares, Other						2	3
Stock Issued During Period, Value, Other	23	0	23
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	(17)	$ 0	(17)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	$ 30		30
Common Stock, Dividends, Per Share, Declared	$ 0.45
Dividends, Cash	$ (166)			(166)
Common stock, shares issued (in shares)		364
Stockholders' Equity Attributable to Parent	2,305	$ 18	0	2,241	46
Net income (loss)	282			282
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	6				6
Change in fair value of derivative financial instruments, net of tax (tax benefit)	31				31
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent	(14)				(14)
Stock Repurchased and Retired During Period, Shares		(2)
Stock Repurchased and Retired During Period, Value	(12)	$ 0	(12)
Stock Issued During Period, Shares, Other						1	2
Stock Issued During Period, Value, Other	8	0	8
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	(2)	$ 0	(2)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	$ 22		22
Common Stock, Dividends, Per Share, Declared	$ 0.15
Dividends, Cash	$ (55)			(55)
Common stock, shares issued (in shares)	365	365
Stockholders' Equity Attributable to Parent	$ 2,571	$ 18	16	2,468	69
Common stock, shares issued (in shares)	366	366
Stockholders' Equity Attributable to Parent	$ 2,233	$ 18	27	2,140	48
Net income (loss)	317			317
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)	22				22
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent	(13)				(13)
Stock Issued During Period, Shares, Other						2	3
Stock Issued During Period, Value, Other	18	0	18
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	(16)	$ 0	(16)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	$ 64		64
Common Stock, Dividends, Per Share, Declared	$ 0.45
Dividends, Cash	$ (166)			(166)
Common stock, shares issued (in shares)		369
Stockholders' Equity Attributable to Parent	2,263	$ 18	73	2,128	44
Net income (loss)	218			218
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	5				5
Change in fair value of derivative financial instruments, net of tax (tax benefit)	16				16
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent	(7)				(7)
Stock Issued During Period, Shares, Other						1	1
Stock Issued During Period, Value, Other	5	0	5
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	(5)	$ 0	(5)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	$ 20		20
Common Stock, Dividends, Per Share, Declared	$ 0.15
Dividends, Cash	$ (55)			(55)
Common stock, shares issued (in shares)	371	371
Stockholders' Equity Attributable to Parent	$ 2,460	$ 18	$ 93	$ 2,291	$ 58

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022
Cash flows from operating activities:
Net income (loss)	$ 317	$ 71
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	394	402
Share-based compensation	64	28
Operating Lease, Impairment Loss	0	16
Other Asset Impairment Charges	2	10
Amortization of Debt Issuance Costs	3	5
Non-cash and other items	36	(8)
Gain (Loss) on Disposition of Business	0	35
Gain (Loss) on Disposition of Property Plant Equipment	(47)	(83)
Deferred income taxes	(27)	32
Changes in operating assets and liabilities:
Merchandise inventory	(5)	(78)
Other current assets and other long-term assets	81	(34)
Accounts payable	133	(503)
Accrued expenses and other current liabilities	(11)	(123)
Income taxes payable, net of receivables and other tax-related items	50	216
Lease incentives and other long-term liabilities	(11)	(7)
Operating lease assets and liabilities, net	(147)	(91)
Net cash provided by (used for) operating activities	832	(112)
Cash flows from investing activities:
Purchases of property and equipment	(288)	(577)
Proceeds from Sale of Buildings	76	458
Proceeds from Divestiture of Businesses	9	0
Net cash provided by (used for) investing activities	(203)	(119)
Cash flows from financing activities:
Proceeds from Lines of Credit	0	350
Repayments of revolving credit facility	(350)	0
Proceeds from issuances under share-based compensation plans	18	23
Withholding tax payments related to vesting of stock units	(16)	(17)
Repurchases of common stock	0	(123)
Cash dividends paid	(166)	(166)
Other	(2)	(1)
Payments for Debt Issuance Costs	0	(6)
Net cash provided by (used for) financing activities	(516)	60
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	(7)	(25)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	106	(196)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents beginning of period	1,273	902
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents end of period	1,379	706
Supplemental disclosure of cash flow information:
Cash paid for interest during the period	72	70
Cash paid for income taxes during the period, net of refunds	$ (1)	$ (407)

Accounting Policies

Accounting Policies	9 Months Ended
	Oct. 28, 2023
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, stockholders' equity, and cash flows as of October 28, 2023 and October 29, 2022 and for all periods presented. The Condensed Consolidated Balance Sheet as of January 28, 2023 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 28, 2023. The results of operations for the 13 and 39 weeks ended October 28, 2023 are not necessarily indicative of the operating results that may be expected for the 53-week period ending February 3, 2024. 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 global inflationary pressures, acts of terrorism or war, global credit and banking markets, and new legislation. 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 valuation allowances, sales return and bad debt allowances, deferred revenue, and the impairment of long-lived 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 October 28, 2023, restricted cash primarily included consideration that serves as collateral for our insurance obligations and certain other obligations occurring in the normal course of business. 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) October 28, January 28, October 29, Cash and cash equivalents, per Condensed Consolidated Balance Sheets $ 1,351 $ 1,215 $ 679 Restricted cash included in other current assets — 32 1 Restricted cash included in other long-term assets 28 26 26 Total cash, cash equivalents, and restricted cash, per Condensed Consolidated Statements of Cash Flows $ 1,379 $ 1,273 $ 706 Accounting Pronouncements Except as noted below, 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. ASU No. 2022-04, Disclosure of Supplier Finance Program Obligations In September 2022, the Financial Accounting Standards Board issued accounting standards update ("ASU") No. 2022-04, Disclosure of Supplier Finance Program Obligations. The ASU is intended to enhance the transparency of the use of supplier finance programs by requiring that the buyers in those programs provide additional disclosures about the program’s nature and potential magnitude, including a rollforward of the obligations and activity during the period. The ASU is effective retrospectively for fiscal years and interim periods within those years beginning after December 15, 2022, except for the rollforward information, which is effective prospectively for fiscal years beginning after December 15, 2023. The ASU does not affect the recognition, measurement, or financial statement presentation of supplier finance program obligations. We adopted this ASU on January 29, 2023. See Note 13 of Notes to Condensed Consolidated Financial Statements for information regarding our supply chain finance program.

Revenue

Revenue - USD ($) $ in Millions	9 Months Ended
	Oct. 28, 2023	Apr. 30, 2022
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 by channel 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 by channel are as follows: 13 Weeks Ended 39 Weeks Ended ($ in millions) October 28, 2023 October 29, 2022 October 28, 2023 October 29, 2022 Store and franchise sales $ 2,331 $ 2,478 $ 6,771 $ 7,168 Online sales (1) 1,436 1,561 3,820 4,205 Total net sales $ 3,767 $ 4,039 $ 10,591 $ 11,373 __________ (1) Online sales primarily include sales originating from our online channel including those that are picked up or shipped from stores and net sales from revenue-generating strategic initiatives. 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 October 28, 2023 U.S. (1) $ 1,917 $ 664 $ 398 $ 267 $ 15 $ 3,261 Canada 193 96 42 10 — 341 Europe — 29 1 — — 30 Asia 1 71 12 — — 84 Other regions 15 27 7 2 — 51 Total $ 2,126 $ 887 $ 460 $ 279 $ 15 $ 3,767 ($ in millions) Old Navy Global Gap Global Banana Republic Global Athleta Global Other (2) Total 13 Weeks Ended October 29, 2022 U.S. (1) $ 1,936 $ 690 $ 448 $ 326 $ 4 $ 3,404 Canada 184 95 47 7 — 333 Europe 1 58 1 1 — 61 Asia — 143 14 — — 157 Other regions 16 55 7 6 — 84 Total $ 2,137 $ 1,041 $ 517 $ 340 $ 4 $ 4,039 ($ in millions) Old Navy Global Gap Global Banana Republic Global Athleta Global Other (2) Total 39 Weeks Ended October 28, 2023 U.S. (1) $ 5,353 $ 1,702 $ 1,187 $ 903 $ 29 $ 9,174 Canada 503 233 122 33 — 891 Europe 1 87 2 1 — 91 Asia 2 225 40 — — 267 Other regions 56 87 21 4 — 168 Total $ 5,915 $ 2,334 $ 1,372 $ 941 $ 29 $ 10,591 ($ in millions) Old Navy Global Gap Global Banana Republic Global Athleta Global Other (2) Total 39 Weeks Ended October 29, 2022 U.S. (1) $ 5,489 $ 1,752 $ 1,324 $ 1,005 $ 10 $ 9,580 Canada 514 241 143 23 — 921 Europe 2 163 4 3 — 172 Asia 1 425 48 — — 474 Other regions 62 132 19 13 — 226 Total $ 6,068 $ 2,713 $ 1,538 $ 1,044 $ 10 $ 11,373 __________ (1) U.S. includes the United States and Puerto Rico. (2) Primarily consists of net sales from revenue-generating strategic initiatives. 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 October 28, 2023, the opening balance of deferred revenue for these obligations was $327 million, of which $119 million was recognized as revenue during the period. For the 39 weeks ended October 28, 2023, the opening balance of deferred revenue for these obligations was $354 million, of which $227 million was recognized as revenue during the period. The closing balance of deferred revenue for these obligations was $315 million as of October 28, 2023. For the 13 weeks ended October 29, 2022, the opening balance of deferred revenue for these obligations was $321 million, of which $119 million was recognized as revenue during the period. For the 39 weeks ended October 29, 2022, the opening balance of deferred revenue for these obligations was $345 million, of which $212 million was recognized as revenue during the period. The closing balance of deferred revenue for these obligations was $323 million as of October 29, 2022. In April 2021, the Company entered into agreements with Barclays and Mastercard relating to a new long-term credit card program. In May 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 agreements.

Restructuring

Restructuring	9 Months Ended
	Oct. 28, 2023
Restructuring and Related Activities [Abstract]
Restructuring and Related Activities Disclosure [Text Block]	Restructuring On April 25, 2023, the Company's management committed to a restructuring plan (the "Plan") as part of the Company's previously announced efforts to simplify and optimize its operating model and structure. The Plan includes a reduction in workforce of approximately 1,800 employees, primarily in headquarters locations. The actions associated with the reduction of the Company's workforce under the Plan have been substantially completed. In connection with the Plan, the Company incurred $5 million and $93 million in pre-tax restructuring costs during the 13 and 39 weeks ended October 28, 2023, respectively. The costs incurred in connection with the Plan are as follows: 13 Weeks Ended 39 Weeks Ended ($ in millions) Cost of Goods Sold and Occupancy Expenses Operating Expenses Total Costs Cost of Goods Sold and Occupancy Expenses Operating Expenses Total Costs Employee-related costs $ — $ (1) $ (1) $ 4 $ 60 $ 64 Consulting and other associated costs — 6 6 — 29 29 Total restructuring costs $ — $ 5 $ 5 $ 4 $ 89 $ 93 The following table summarizes restructuring costs that will be settled with cash payments and the related liability balances as of October 28, 2023, which are primarily included in accrued expenses and other current liabilities on the Condensed Consolidated Balance Sheet: ($ in millions) Employee-Related Costs Consulting and Other Associated Costs Total Balance at January 28, 2023 $ — $ — $ — 13 Weeks Ended April 29, 2023 Provision 62 13 75 Cash payments — (10) (10) Balance at April 29, 2023 62 3 65 13 Weeks Ended July 29, 2023 Provision 3 10 13 Cash payments (45) (7) (52) Balance at July 29, 2023 20 6 26 13 Weeks Ended October 28, 2023 Provision — 6 6 Adjustments (1) — (1) Cash payments (11) (12) (23) Balance at October 28, 2023 $ 8 $ — $ 8

Income Taxes

Income Taxes	9 Months Ended
	Oct. 28, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective income tax rate was 12.8 percent for the 13 weeks ended October 28, 2023, compared with negative 67.9 percent for the 13 weeks ended October 29, 2022. The change in the effective tax rate for the 13 weeks ended October 28, 2023 compared with the 13 weeks ended October 29, 2022 is primarily due to changes in the amount and jurisdictional mix of pre-tax earnings, the cumulative impact of a change in the Company's estimated annual effective tax rate recognized in the prior year, and a current year tax benefit from the impact of foreign valuation allowances. The effective income tax rate was 6.2 percent for the 39 weeks ended October 28, 2023, compared with 174.0 percent for the 39 weeks ended October 29, 2022. The change in the effective tax rate for the 39 weeks ended October 28, 2023 compared with the 39 weeks ended October 29, 2022 is primarily due to changes in the amount and jurisdictional mix of pre-tax earnings, the cumulative impact of a change in the Company's estimated annual effective tax rate recognized in the prior year, and current year tax benefits from the impact of valuation allowances and a U.S. transfer pricing settlement related to our sourcing activities.

Debt and Credit Facilities

Debt and Credit Facilities	3 Months Ended
	Oct. 28, 2023
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) October 28, January 28, October 29, 2029 Notes $ 750 $ 750 $ 750 2031 Notes 750 750 750 Less: Unamortized debt issuance costs (12) (14) (14) Total long-term debt $ 1,488 $ 1,486 $ 1,486 The scheduled maturity of the Senior Notes is as follows: Scheduled Maturity ($ in millions) Principal Interest Rate Interest Payments 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. On September 27, 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 October 28, 2023, 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 Sheets, net of the unamortized debt issuance costs. 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 January 28, 2023 and October 29, 2022, the Company's outstanding borrowing under the ABL Facility was $350 million and was recorded in long-term liabilities on the Condensed Consolidated Balance Sheet. In the second quarter of fiscal 2023, the Company repaid an aggregate of $200 million to reduce the outstanding borrowing under the ABL Facility to $150 million as of July 29, 2023. During the 13 weeks ended October 28, 2023, the Company repaid the remaining $150 million outstanding borrowing under the ABL Facility. There were no borrowings under the ABL Facility as of October 28, 2023. We also have the ability to issue letters of credit on our ABL Facility. As of October 28, 2023, we had $49 million in standby letters of credit issued under the ABL Facility.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Oct. 28, 2023
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. 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 39 weeks ended October 28, 2023 or October 29, 2022. Financial assets and liabilities measured at fair value on a recurring basis and cash equivalents held at amortized cost are as follows: Fair Value Measurements at Reporting Date Using ($ in millions) October 28, 2023 Quoted Prices in Significant Other Significant Assets: Cash equivalents $ 1 $ — $ 1 $ — Derivative financial instruments 34 — 34 — Deferred compensation plan assets 31 31 — — Other assets 4 — — 4 Total $ 70 $ 31 $ 35 $ 4 Liabilities: Derivative financial instruments $ — $ — $ — $ — Fair Value Measurements at Reporting Date Using ($ in millions) January 28, 2023 Quoted Prices in Significant Other Significant Assets: Cash equivalents $ 15 $ — $ 15 $ — Derivative financial instruments 11 — 11 — Deferred compensation plan assets 34 34 — — Other assets 4 — — 4 Total $ 64 $ 34 $ 26 $ 4 Liabilities: Derivative financial instruments $ 20 $ — $ 20 $ — Fair Value Measurements at Reporting Date Using ($ in millions) October 29, 2022 Quoted Prices in Significant Other Significant Assets: Cash equivalents $ 19 $ — $ 19 $ — Derivative financial instruments 46 — 46 — Deferred compensation plan assets 37 37 — — Other assets 4 — — 4 Total $ 106 $ 37 $ 65 $ 4 Liabilities: Derivative financial instruments $ 2 $ — $ 2 $ — We have highly liquid fixed and variable income investments classified as cash equivalents. 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. Derivative financial instruments primarily include foreign exchange forward contracts. See Note 7 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 39 weeks ended October 28, 2023. During the 39 weeks ended October 29, 2022, the Company recorded impairment of store assets of $10 million and impairment of operating lease assets of $16 million. The impairment of the store assets reduced the carrying amount of the applicable long-lived assets of $12 million to their estimated fair value of $2 million. The impairment of operating lease assets reduced the carrying amount of the applicable long-lived assets of $62 million to their estimated fair value of $46 million. The impairment charges were recorded in operating expenses on the Condensed Consolidated Statement of Operations. 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 39 weeks ended October 28, 2023 or October 29, 2022.

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Oct. 28, 2023
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, Japanese yen, British pound, 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 up 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 and is recognized into net income 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) October 28, January 28, October 29, Derivatives designated as cash flow hedges $ 357 $ 441 $ 491 Derivatives not designated as hedging instruments 526 645 583 Total $ 883 $ 1,086 $ 1,074 Quantitative Disclosures about Derivative Financial Instruments The fair values of foreign exchange forward contracts are as follows: ($ in millions) October 28, January 28, October 29, Derivatives designated as cash flow hedges: Other current assets $ 13 $ 9 $ 25 Other long-term assets 2 — 4 Accrued expenses and other current liabilities — 5 — Other long-term liabilities — — — Derivatives not designated as hedging instruments: Other current assets 19 2 17 Accrued expenses and other current liabilities — 15 2 Total derivatives in an asset position $ 34 $ 11 $ 46 Total derivatives in a liability position $ — $ 20 $ 2 The majority of the unrealized gains and losses from designated cash flow hedges as of October 28, 2023 will be recognized in income within the next 12 months at the then-current values, which may differ from the fair values as of October 28, 2023 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 6 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 related to derivative instruments are as follows: Location and Amount of Gain 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 $ 2,211 $ 1,306 $ 2,530 $ 1,323 Gain recognized in net income Derivatives designated as cash flow hedges (6) — (14) — Derivatives not designated as hedging instruments — (27) — (51) Total gain recognized in net income $ (6) $ (27) $ (14) $ (51) Location and Amount of Gain 39 Weeks Ended 39 Weeks Ended ($ in millions) Cost of goods sold and occupancy expense Operating expenses Cost of goods sold and occupancy expense Operating expenses Total amount of expense line items presented in the Condensed Consolidated Statements of Operations in which the effects of derivatives are recorded $ 6,488 $ 3,757 $ 7,438 $ 3,974 Gain recognized in net income Derivatives designated as cash flow hedges (13) — (22) — Derivatives not designated as hedging instruments — (25) — (80) Total gain recognized in net income $ (13) $ (25) $ (22) $ (80)

Share Repurchases

Share Repurchases	9 Months Ended
	Oct. 28, 2023
Disclosure Share Repurchase Activity [Abstract]
Share Repurchases	Share Repurchases Share repurchase activity is as follows: 13 Weeks Ended 39 Weeks Ended ($ and shares in millions except average per share cost) October 28, October 29, October 28, October 29, Number of shares repurchased (1) — 1.2 — 10.6 Total cost $ — $ 12 $ — $ 123 Average per share cost including commissions $ — $ 10.20 $ — $ 11.59 _________ (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 $476 million remaining as of October 28, 2023. All common stock repurchased is immediately retired.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	9 Months Ended
	Oct. 28, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Weighted-average number of shares used for earnings per share is as follows: 13 Weeks Ended 39 Weeks Ended (shares in millions) October 28, October 29, October 28, October 29, Weighted-average number of shares - basic 371 365 369 367 Common stock equivalents 4 1 4 3 Weighted-average number of shares - diluted 375 366 373 370

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Oct. 28, 2023
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 October 28, 2023, 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 October 28, 2023, January 28, 2023, and October 29, 2022, 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 October 28, 2023, 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	9 Months Ended
	Oct. 28, 2023
Segment Reporting [Abstract]
Segment Information	Segment Information We identify our operating segments according to how our business activities are managed and evaluated. As of October 28, 2023, 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 October 28, 2023. 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 by channel and by brand and region.

Divestitures

Divestitures	9 Months Ended
	Oct. 28, 2023
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. We completed the transition of our United Kingdom and Ireland online operations to a franchise partner through a joint venture with Next Plc on August 10, 2022. The impacts from these transactions upon divestiture were not material to our results of operations for the 39 weeks ended October 29, 2022. We sold our distribution center in Rugby, England for $125 million on September 30, 2022. As a result of this transaction, the Company recognized a pre-tax gain on sale of $83 million within operating expenses on the Condensed Consolidated Statement of Operations during the 13 weeks ended October 29, 2022. We also completed the transition of our Old Navy Mexico operations to a third party, Grupo Axo, to operate Old Navy Mexico stores as a franchise partner, on August 1, 2022. As a result of this transaction, the Company recognized a pre-tax loss of $35 million in the second quarter of fiscal 2022 when the assets were reclassified as held for sale. The pre-tax loss was recognized within operating expenses on the Condensed Consolidated Statement of Operations. On November 7, 2022, we signed agreements to transition our Gap China and Gap Taiwan ("Gap Greater China") operations to a third party, Baozun Inc. ("Baozun"), to operate Gap Greater China stores and the in-market website as a franchise partner, subject to regulatory approvals and closing conditions. On January 31, 2023, the Gap China transaction closed with Baozun. The impact upon divestiture was not material to our results of operations for the 39 weeks ended October 28, 2023. The Gap Taiwan operations will continue to operate as usual until regulatory approvals and closing conditions are met.

Supply Chain Finance Program

Supply Chain Finance Program	9 Months Ended
	Oct. 28, 2023
Supplier Finance Program Liabilities [Abstract]
Supplier Finance Program	Supply Chain Finance Program Our voluntary supply chain finance ("SCF") program provides certain suppliers with the opportunity to sell their receivables due from us to participating financial institutions at the sole discretion of both the suppliers and the financial institutions. We are not a party to the agreements between our suppliers and the financial institutions and our payment terms are not impacted by whether a supplier participates in the SCF program. We may agree to side letters with participating financial institutions related to the SCF program that require us to transfer a certain amount of cash to be used as collateral for our payment obligations in a specified period. These collateral amounts, if applicable, are classified as restricted cash on our Condensed Consolidated Balance Sheets. There were no collateral amounts under the SCF program as of October 28, 2023 and October 29, 2022. The collateral amount under the SCF program was $30 million as of January 28, 2023. Additionally, our lenders under the ABL Facility who also participate in the SCF program have their related financings secured pursuant to the terms of the ABL Facility.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Pay vs Performance Disclosure
Net income (loss)	$ 218	$ 282	$ 317	$ 71

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Oct. 28, 2023 shares
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Julie Gruber [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On August 29, 2023, Julie Gruber, Chief Legal and Compliance Officer and Corporate Secretary, adopted a trading plan intended to satisfy the affirmative defense of Rule 10b5-1(c) to sell up to 417,892 shares of Gap Inc. common stock. Unless otherwise terminated pursuant to its terms, the plan will terminate on March 14, 2025 or when all shares under the plan are sold.
Name	Julie Gruber
Title	Chief Legal and Compliance Officer and Corporate Secretary
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 29, 2023
Aggregate Available	417,892
Katrina O'Connell [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On August 28, 2023, Katrina O’Connell, Chief Financial Officer, adopted a trading plan intended to satisfy the affirmative defense of Rule 10b5-1(c) to sell up to 471,700 shares of Gap Inc. common stock. Unless otherwise terminated pursuant to its terms, the plan will terminate on August 28, 2024 or when all shares under the plan are sold.
Name	Katrina O’Connell
Title	Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 28, 2023
Aggregate Available	471,700

Accounting Policies (Tables)

Accounting Policies (Tables)	9 Months Ended
	Oct. 28, 2023
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	As of October 28, 2023, restricted cash primarily included consideration that serves as collateral for our insurance obligations and certain other obligations occurring in the normal course of business. 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) October 28, January 28, October 29, Cash and cash equivalents, per Condensed Consolidated Balance Sheets $ 1,351 $ 1,215 $ 679 Restricted cash included in other current assets — 32 1 Restricted cash included in other long-term assets 28 26 26 Total cash, cash equivalents, and restricted cash, per Condensed Consolidated Statements of Cash Flows $ 1,379 $ 1,273 $ 706

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Oct. 28, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	Net sales disaggregated by channel are as follows: 13 Weeks Ended 39 Weeks Ended ($ in millions) October 28, 2023 October 29, 2022 October 28, 2023 October 29, 2022 Store and franchise sales $ 2,331 $ 2,478 $ 6,771 $ 7,168 Online sales (1) 1,436 1,561 3,820 4,205 Total net sales $ 3,767 $ 4,039 $ 10,591 $ 11,373 __________
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 October 28, 2023 U.S. (1) $ 1,917 $ 664 $ 398 $ 267 $ 15 $ 3,261 Canada 193 96 42 10 — 341 Europe — 29 1 — — 30 Asia 1 71 12 — — 84 Other regions 15 27 7 2 — 51 Total $ 2,126 $ 887 $ 460 $ 279 $ 15 $ 3,767 ($ in millions) Old Navy Global Gap Global Banana Republic Global Athleta Global Other (2) Total 13 Weeks Ended October 29, 2022 U.S. (1) $ 1,936 $ 690 $ 448 $ 326 $ 4 $ 3,404 Canada 184 95 47 7 — 333 Europe 1 58 1 1 — 61 Asia — 143 14 — — 157 Other regions 16 55 7 6 — 84 Total $ 2,137 $ 1,041 $ 517 $ 340 $ 4 $ 4,039 ($ in millions) Old Navy Global Gap Global Banana Republic Global Athleta Global Other (2) Total 39 Weeks Ended October 28, 2023 U.S. (1) $ 5,353 $ 1,702 $ 1,187 $ 903 $ 29 $ 9,174 Canada 503 233 122 33 — 891 Europe 1 87 2 1 — 91 Asia 2 225 40 — — 267 Other regions 56 87 21 4 — 168 Total $ 5,915 $ 2,334 $ 1,372 $ 941 $ 29 $ 10,591 ($ in millions) Old Navy Global Gap Global Banana Republic Global Athleta Global Other (2) Total 39 Weeks Ended October 29, 2022 U.S. (1) $ 5,489 $ 1,752 $ 1,324 $ 1,005 $ 10 $ 9,580 Canada 514 241 143 23 — 921 Europe 2 163 4 3 — 172 Asia 1 425 48 — — 474 Other regions 62 132 19 13 — 226 Total $ 6,068 $ 2,713 $ 1,538 $ 1,044 $ 10 $ 11,373 __________ (1) U.S. includes the United States and Puerto Rico. (2) Primarily consists of net sales from revenue-generating strategic initiatives.

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Oct. 28, 2023
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	The costs incurred in connection with the Plan are as follows: 13 Weeks Ended 39 Weeks Ended ($ in millions) Cost of Goods Sold and Occupancy Expenses Operating Expenses Total Costs Cost of Goods Sold and Occupancy Expenses Operating Expenses Total Costs Employee-related costs $ — $ (1) $ (1) $ 4 $ 60 $ 64 Consulting and other associated costs — 6 6 — 29 29 Total restructuring costs $ — $ 5 $ 5 $ 4 $ 89 $ 93
Schedule of Restructuring Reserve by Type of Cost	The following table summarizes restructuring costs that will be settled with cash payments and the related liability balances as of October 28, 2023, which are primarily included in accrued expenses and other current liabilities on the Condensed Consolidated Balance Sheet: ($ in millions) Employee-Related Costs Consulting and Other Associated Costs Total Balance at January 28, 2023 $ — $ — $ — 13 Weeks Ended April 29, 2023 Provision 62 13 75 Cash payments — (10) (10) Balance at April 29, 2023 62 3 65 13 Weeks Ended July 29, 2023 Provision 3 10 13 Cash payments (45) (7) (52) Balance at July 29, 2023 20 6 26 13 Weeks Ended October 28, 2023 Provision — 6 6 Adjustments (1) — (1) Cash payments (11) (12) (23) Balance at October 28, 2023 $ 8 $ — $ 8

Debt and Credit Facilities Long

Debt and Credit Facilities Long Term Debt (Tables)	9 Months Ended
	Oct. 28, 2023
Debt Disclosure [Abstract]
Long Term Debt	Long-term debt recorded on the Condensed Consolidated Balance Sheets consists of the following: ($ in millions) October 28, January 28, October 29, 2029 Notes $ 750 $ 750 $ 750 2031 Notes 750 750 750 Less: Unamortized debt issuance costs (12) (14) (14) Total long-term debt $ 1,488 $ 1,486 $ 1,486
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 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)	9 Months Ended
	Oct. 28, 2023
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 held at amortized cost are as follows: Fair Value Measurements at Reporting Date Using ($ in millions) October 28, 2023 Quoted Prices in Significant Other Significant Assets: Cash equivalents $ 1 $ — $ 1 $ — Derivative financial instruments 34 — 34 — Deferred compensation plan assets 31 31 — — Other assets 4 — — 4 Total $ 70 $ 31 $ 35 $ 4 Liabilities: Derivative financial instruments $ — $ — $ — $ — Fair Value Measurements at Reporting Date Using ($ in millions) January 28, 2023 Quoted Prices in Significant Other Significant Assets: Cash equivalents $ 15 $ — $ 15 $ — Derivative financial instruments 11 — 11 — Deferred compensation plan assets 34 34 — — Other assets 4 — — 4 Total $ 64 $ 34 $ 26 $ 4 Liabilities: Derivative financial instruments $ 20 $ — $ 20 $ — Fair Value Measurements at Reporting Date Using ($ in millions) October 29, 2022 Quoted Prices in Significant Other Significant Assets: Cash equivalents $ 19 $ — $ 19 $ — Derivative financial instruments 46 — 46 — Deferred compensation plan assets 37 37 — — Other assets 4 — — 4 Total $ 106 $ 37 $ 65 $ 4 Liabilities: Derivative financial instruments $ 2 $ — $ 2 $ —

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
	Oct. 28, 2023
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) October 28, January 28, October 29, Derivatives designated as cash flow hedges $ 357 $ 441 $ 491 Derivatives not designated as hedging instruments 526 645 583 Total $ 883 $ 1,086 $ 1,074
Fair Values of Asset and Liability Derivative Financial Instruments	The fair values of foreign exchange forward contracts are as follows: ($ in millions) October 28, January 28, October 29, Derivatives designated as cash flow hedges: Other current assets $ 13 $ 9 $ 25 Other long-term assets 2 — 4 Accrued expenses and other current liabilities — 5 — Other long-term liabilities — — — Derivatives not designated as hedging instruments: Other current assets 19 2 17 Accrued expenses and other current liabilities — 15 2 Total derivatives in an asset position $ 34 $ 11 $ 46 Total derivatives in a liability position $ — $ 20 $ 2
Effects of Derivative Financial Instruments on OCI and Condensed Consolidated Statements of Income	The pre-tax amounts recognized in net income related to derivative instruments are as follows: Location and Amount of Gain 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 $ 2,211 $ 1,306 $ 2,530 $ 1,323 Gain recognized in net income Derivatives designated as cash flow hedges (6) — (14) — Derivatives not designated as hedging instruments — (27) — (51) Total gain recognized in net income $ (6) $ (27) $ (14) $ (51)

Share Repurchases (Tables)

Share Repurchases (Tables)	9 Months Ended
	Oct. 28, 2023
Disclosure Share Repurchase Activity [Abstract]
Share Repurchase Activity	Share repurchase activity is as follows: 13 Weeks Ended 39 Weeks Ended ($ and shares in millions except average per share cost) October 28, October 29, October 28, October 29, Number of shares repurchased (1) — 1.2 — 10.6 Total cost $ — $ 12 $ — $ 123 Average per share cost including commissions $ — $ 10.20 $ — $ 11.59 _________ (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)	9 Months Ended
	Oct. 28, 2023
Earnings Per Share [Abstract]
Weighted-Average Number of Shares	Weighted-average number of shares used for earnings per share is as follows: 13 Weeks Ended 39 Weeks Ended (shares in millions) October 28, October 29, October 28, October 29, Weighted-average number of shares - basic 371 365 369 367 Common stock equivalents 4 1 4 3 Weighted-average number of shares - diluted 375 366 373 370

Accounting Policies Supplementa

Accounting Policies Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Millions	Oct. 28, 2023	Jan. 28, 2023	Oct. 29, 2022	Jan. 29, 2022
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents	$ 1,351	$ 1,215	$ 679
Restricted Cash, Current	0	32	1
Restricted Cash, Noncurrent	28	26	26
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents end of period	1,379	1,273	706	$ 902
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	1,351	1,215	679
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents end of period	$ 1,379	$ 1,273	$ 706

Revenue Disaggregation (Details

Revenue Disaggregation (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Disaggregation of Revenue
Revenues		$ 3,767	$ 4,039	$ 10,591	$ 11,373
Store and Franchise Sales
Disaggregation of Revenue
Revenues		2,331	2,478	6,771	7,168
Online Sales
Disaggregation of Revenue
Revenues	[1]	$ 1,436	$ 1,561	$ 3,820	$ 4,205
[1]Online sales primarily include sales originating from our online channel including those that are picked up or shipped from stores and net sales from revenue-generating strategic initiatives.

Net Sales by Brand and Region (

Net Sales by Brand and Region (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		$ 3,767	$ 4,039	$ 10,591	$ 11,373
Old Navy
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		2,126	2,137	5,915	6,068
Gap
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		887	1,041	2,334	2,713
Banana Republic [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		460	517	1,372	1,538
Athleta [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		279	340	941	1,044
Other entities [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales	[1]	15	4	29	10
U.S.
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales	[2]	3,261	3,404	9,174	9,580
U.S. | Old Navy
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales	[2]	1,917	1,936	5,353	5,489
U.S. | Gap
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales	[2]	664	690	1,702	1,752
U.S. | Banana Republic [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales	[2]	398	448	1,187	1,324
U.S. | Athleta [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales	[2]	267	326	903	1,005
U.S. | Other entities [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales	[1],[2]	15	4	29	10
Canada
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		341	333	891	921
Canada | Old Navy
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		193	184	503	514
Canada | Gap
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		96	95	233	241
Canada | Banana Republic [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		42	47	122	143
Canada | Athleta [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		10	7	33	23
Canada | Other entities [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales	[1]	0	0	0	0
Europe
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		30	61	91	172
Europe | Old Navy
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		0	1	1	2
Europe | Gap
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		29	58	87	163
Europe | Banana Republic [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		1	1	2	4
Europe | Athleta [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		0	1	1	3
Europe | Other entities [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales	[1]	0	0	0	0
Asia
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		84	157	267	474
Asia | Old Navy
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		1	0	2	1
Asia | Gap
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		71	143	225	425
Asia | Banana Republic [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		12	14	40	48
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	[1]	0	0	0	0
Other Regions
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		51	84	168	226
Other Regions | Old Navy
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		15	16	56	62
Other Regions | Gap
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		27	55	87	132
Other Regions | Banana Republic [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		7	7	21	19
Other Regions | Athleta [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales		2	6	4	13
Other Regions | Other entities [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Sales	[1]	$ 0	$ 0	$ 0	$ 0
[1]Primarily consists of net sales from revenue-generating strategic initiatives.[2]U.S. includes the United States and Puerto Rico.

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022	Jul. 29, 2023	Jan. 28, 2023	Jul. 30, 2022	Apr. 30, 2022	Jan. 29, 2022
Revenue from Contract with Customer [Abstract]
Contract with Customer, Liability	$ 315	$ 323	$ 315	$ 323	$ 327	$ 354	$ 321		$ 345
Contract with Customer, Liability, Revenue Recognized	$ 119	$ 119	$ 227	$ 212
Liabilities, Other than Long-term Debt, Noncurrent								$ 60

Restructuring (Details)

Restructuring (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Oct. 28, 2023	Jul. 29, 2023	Apr. 29, 2023	Oct. 28, 2023	Jan. 28, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 5			$ 93
Restructuring Reserve, Accrual Adjustment	(1)
Restructuring Reserve	8	$ 26	$ 65	8	$ 0
Payments for Restructuring	(23)	(52)	(10)
Charges that will be settled with cash payments
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	6	13	75
Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	(1)			64
Restructuring Reserve, Accrual Adjustment	(1)
Restructuring Reserve	8	20	62	8	0
Payments for Restructuring	(11)	(45)	0
Employee Severance | Charges that will be settled with cash payments
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0	3	62
Other Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	6			29
Restructuring Reserve, Accrual Adjustment	0
Restructuring Reserve	0	6	3	0	$ 0
Payments for Restructuring	(12)	(7)	(10)
Other Restructuring | Charges that will be settled with cash payments
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	6	$ 10	$ 13
Cost of Goods Sold and Occupancy Expense
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0			4
Cost of Goods Sold and Occupancy Expense | Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0			4
Cost of Goods Sold and Occupancy Expense | Other Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0			0
Operating Expenses [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	5			89
Operating Expenses [Member] | Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	(1)			60
Operating Expenses [Member] | Other Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 6			$ 29

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)	3 Months Ended		9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Income Tax Disclosure [Abstract]
Effective Income Tax Rate, Percent	12.80%	(67.90%)	6.20%	174%

Debt and Credit Facilities Lo_2

Debt and Credit Facilities Long Term Debt (Details) - USD ($) $ in Millions	Oct. 28, 2023		Jan. 28, 2023	Oct. 29, 2022
Debt Instrument [Line Items]
Notes	$ 1,488		$ 1,486	$ 1,486
Total long-term debt	1,488		1,486	1,486
Unamortized Debt Issuance Expense	(12)		(14)	(14)
Debt Instrument, Face Amount	1,500
2029 Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	750	[1]	750	750
2031 Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 750	[2]	$ 750	$ 750
[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	3 Months Ended			9 Months Ended
	Oct. 28, 2023		Jul. 29, 2023	Oct. 28, 2023		Jan. 28, 2023	Oct. 29, 2022
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 1,500			$ 1,500
Repayments of Long-Term Lines of Credit	150		$ 200
2031 Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 750	[1]		$ 750	[1]	$ 750	$ 750
Debt Instrument, Interest Rate, Stated Percentage	3.875%			3.875%
Debt Instrument, Payment Terms				Semi-Annual
2029 Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 750	[2]		$ 750	[2]	$ 750	$ 750
Debt Instrument, Interest Rate, Stated Percentage	3.625%			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
	Oct. 28, 2023		Jul. 29, 2023	Jan. 28, 2023	Oct. 29, 2022	Jul. 30, 2022
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 1,500
Estimated fair value	1,100
Long-term Line of Credit	0			$ 350	$ 350
Line of Credit Facility [Line Items]
Repayments of Long-Term Lines of Credit	150		$ 200
2029 Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 750	[1]		750	750
Debt Instrument, Interest Rate, Stated Percentage	3.625%
2031 Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 750	[2]		750	750
Debt Instrument, Interest Rate, Stated Percentage	3.875%
ABL Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum borrowing capacity	$ 2,200
Unsecured committed letter of credit amount	$ 49
Long-term Line of Credit			$ 150	$ 350	$ 350
ABL Facility [Member] | Previous ABL Facility
Debt Instrument [Line Items]
Line of Credit Facility, Maximum borrowing capacity						$ 1,867.5
[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	Oct. 28, 2023	Jan. 28, 2023	Oct. 29, 2022
Assets:
Cash equivalents	$ 1	$ 15	$ 19
Derivative financial instruments	34	11	46
Deferred compensation plan assets	31	34	37
Other Assets, Fair Value Disclosure	4	4	4
Total	70	64	106
Liabilities:
Derivative financial instruments	0	20	2
Fair Value, Inputs, Level 1 [Member]
Assets:
Cash equivalents	0	0	0
Derivative financial instruments	0	0	0
Deferred compensation plan assets	31	34	37
Other Assets, Fair Value Disclosure	0	0	0
Total	31	34	37
Liabilities:
Derivative financial instruments	0	0	0
Fair Value, Inputs, Level 2 [Member]
Assets:
Cash equivalents	1	15	19
Derivative financial instruments	34	11	46
Deferred compensation plan assets	0	0	0
Other Assets, Fair Value Disclosure	0	0	0
Total	35	26	65
Liabilities:
Derivative financial instruments	0	20	2
Fair Value, Inputs, Level 3 [Member]
Assets:
Cash equivalents	0	0	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		9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases, sales, issuances, or settlements related to recurring level 3 measurements	$ 0	$ 0	$ 0	$ 0

Fair Value Measurements Long Li

Fair Value Measurements Long Lived Assets Impairments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Long Lived Assets [Line Items]
Goodwill, Impairment Loss	$ 0	$ 0	$ 0	$ 0
Total Impairment Charges	0		0
Other indefinite-lived intangible assets impairment charges	$ 0	0	$ 0	0
Store Assets [Member]
Long Lived Assets [Line Items]
Total Impairment Charges				10
Long Lived Asset Carrying Value		12		12
Impaired Asset at Fair Value		2		2
Operating lease Impairment [Member]
Long Lived Assets [Line Items]
Total Impairment Charges				16
Long Lived Asset Carrying Value		62		62
Impaired Asset at Fair Value		$ 46		$ 46

Derivative Financial Instrume_3

Derivative Financial Instruments - Foreign Exchange Contracts Outstanding to Sell Various Currencies (Details) - USD ($) $ in Millions	Oct. 28, 2023	Jan. 28, 2023	Oct. 29, 2022
Derivative [Line Items]
Derivative, Notional Amount	$ 883	$ 1,086	$ 1,074
Derivatives in cash flow hedging relationships
Derivative [Line Items]
Derivative, Notional Amount	357	441	491
Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative, Notional Amount	$ 526	$ 645	$ 583

Derivative Financial Instrume_4

Derivative Financial Instruments - Fair Values of Asset and Liability Derivative Financial Instruments (Details) - USD ($) $ in Millions	Oct. 28, 2023	Jan. 28, 2023	Oct. 29, 2022
Derivatives, Fair Value [Line Items]
Derivative financial instruments, assets	$ 34	$ 11	$ 46
Derivative financial instruments, liabilities	0	20	2
Foreign Exchange Forward Contract
Derivatives, Fair Value [Line Items]
Derivative financial instruments, assets	34	11	46
Derivative financial instruments, liabilities	0	20	2
Derivatives in cash flow hedging relationships | Foreign Exchange Forward Contract | Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative financial instruments, assets	13	9	25
Derivatives in cash flow hedging relationships | Foreign Exchange Forward Contract | Other Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative financial instruments, assets	2	0	4
Derivatives in cash flow hedging relationships | Foreign Exchange Forward Contract | Accrued Liabilities Current [Member]
Derivatives, Fair Value [Line Items]
Derivative financial instruments, liabilities	0	5	0
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	0	0	0
Not Designated as Hedging Instrument | Foreign Exchange Forward Contract | Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative financial instruments, assets	19	2	17
Not Designated as Hedging Instrument | Foreign Exchange Forward Contract | Accrued Liabilities Current [Member]
Derivatives, Fair Value [Line Items]
Derivative financial instruments, liabilities	$ 0	$ 15	$ 2

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		9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Derivative Instruments, (Gain) Loss [Line Items]
Cost of goods sold and occupancy expenses	$ 2,211	$ 2,530	$ 6,488	$ 7,438
Operating Expenses	1,306	1,323	3,757	3,974
Cost of Goods Sold and Occupancy Expense
Derivative Instruments, (Gain) Loss [Line Items]
(Gain) loss reclassified from accumulated OCI into income, effective portion, net	(6)	(14)	(13)	(22)
Operating Expenses [Member]
Derivative Instruments, (Gain) Loss [Line Items]
(Gain) loss reclassified from accumulated OCI into income, effective portion, net	(27)	(51)	(25)	(80)
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	(6)	(14)	(13)	(22)
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	(27)	(51)	(25)	(80)
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	Oct. 28, 2023	Jan. 28, 2023	Oct. 29, 2022
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			9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022		Oct. 28, 2023	Oct. 29, 2022		Feb. 26, 2019
Disclosure Share Repurchase Activity [Abstract]
Number of shares repurchased	0	1.2	[1]	0	10.6	[1]
Total cost	$ 0	$ 12		$ 0	$ 123
Average per share cost including commissions (in dollars per share)	$ 0	$ 10.20		$ 0	$ 11.59
Stock Repurchase Program, Authorized Amount							$ 1,000
Share repurchases, remaining amount	$ 476			$ 476
[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		9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Earnings Per Share [Abstract]
Weighted-average number of shares - basic (in shares)	371	365	369	367
Common stock equivalents (in shares)	4	1	4	3
Weighted-average number of shares - diluted (in shares)	375	366	373	370

Earnings (Loss) Per Share - Add

Earnings (Loss) Per Share - Additional Information (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Earnings Per Share [Abstract]
Shares excluded from the computations of weighted-average number of shares - diluted	5	14	6	14

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	Oct. 28, 2023	Jan. 28, 2023	Oct. 29, 2022
Commitments and Contingencies [Line Items]
Loss Contingency, Estimate of Possible Loss	$ 0	$ 0	$ 0

Segment Information - Additiona

Segment Information - Additional Information (Details)	9 Months Ended
	Oct. 28, 2023 Segment
Segment Reporting [Abstract]
Number of reportable segments (in segments)	1

Divestitures - Additional Infor

Divestitures - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from Sale of Buildings		$ 76	$ 458
Gain (Loss) on Disposition of Property Plant Equipment		47	83
Gain (Loss) on Disposition of Business		0	35
Proceeds from Sale of Buildings		76	458
Gain (Loss) on Disposition of Property Plant Equipment		$ 47	$ 83
Distribution Center [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from Sale of Buildings	$ 125
Gain (Loss) on Disposition of Property Plant Equipment	(83)
Proceeds from Sale of Buildings	125
Gain (Loss) on Disposition of Property Plant Equipment	$ (83)

Supply Chain Finance Program (D

Supply Chain Finance Program (Details) - USD ($) $ in Millions	Oct. 28, 2023	Jan. 28, 2023	Oct. 29, 2022
Supplier Finance Program Liabilities [Abstract]
Supplier Finance Program, Obligation, Current	$ 344	$ 316	$ 206
Collateral Pledged [Member]
Supplier Finance Program [Line Items]
Restricted Cash	$ 0	$ 30	$ 0