Statement Of Financial Position
Statement Of Financial Position Classified (USD $) | |||
In Millions | Aug. 01, 2009
| Jan. 31, 2009
| Aug. 02, 2008
|
Current assets: | |||
Cash and cash equivalents | $2,031 | $1,715 | $1,606 |
Short-term investments | 100 | 0 | 74 |
Restricted cash | 21 | 41 | 33 |
Merchandise inventory | 1,473 | 1,506 | 1,700 |
Other current assets | 651 | 743 | 693 |
Total current assets | 4,276 | 4,005 | 4,106 |
Property and equipment, net of accumulated depreciation of $4,637, $4,312, and $4,285 | 2,775 | 2,933 | 3,129 |
Other long-term assets | 654 | 626 | 467 |
Total assets | 7,705 | 7,564 | 7,702 |
Current liabilities: | |||
Current maturities of long-term debt | 0 | 50 | 188 |
Accounts payable | 1,038 | 975 | 1,227 |
Accrued expenses and other current liabilities | 923 | 1,076 | 1,012 |
Income taxes payable | 10 | 57 | 10 |
Total current liabilities | 1,971 | 2,158 | 2,437 |
Lease incentives and other long-term liabilities | 989 | 1,019 | 1,041 |
Commitments and contingencies (see Note 10) | 0 | 0 | 0 |
Stockholders' equity: | |||
Common stock $0.05 par value Authorized 2,300 shares; Issued 1,106, 1,105, and 1,103 shares; Outstanding 697, 694, and 710 shares | 55 | 55 | 55 |
Additional paid-in capital | 2,901 | 2,895 | 2,849 |
Retained earnings | 10,272 | 9,947 | 9,578 |
Accumulated other comprehensive income | 130 | 123 | 142 |
Treasury stock, at cost (409, 411, and 393 shares) | (8,613) | (8,633) | (8,400) |
Total stockholders' equity | 4,745 | 4,387 | 4,224 |
Total liabilities and stockholders' equity | $7,705 | $7,564 | $7,702 |
1_Statement Of Financial Positi
Statement Of Financial Position Classified (Parenthetical) (USD $) | |||
In Millions, except Per Share data | Aug. 01, 2009
| Jan. 31, 2009
| Aug. 02, 2008
|
Property and equipment, accumulated depreciation | $4,637 | $4,312 | $4,285 |
Common stock, par value | 0.05 | 0.05 | 0.05 |
Common stock, Authorized | 2,300 | 2,300 | 2,300 |
Common stock, Issued | 1,106 | 1,105 | 1,103 |
Common stock, Outstanding | 697 | 694 | 710 |
Treasury stock, shares | 409 | 411 | 393 |
Statement Of Income
Statement Of Income (USD $) | ||||
In Millions, except Per Share data | 3 Months Ended
Aug. 01, 2009 | 3 Months Ended
Aug. 02, 2008 | 6 Months Ended
Aug. 01, 2009 | 6 Months Ended
Aug. 02, 2008 |
Net sales | $3,245 | $3,499 | $6,372 | $6,883 |
Cost of goods sold and occupancy expenses | 1,957 | 2,161 | 3,845 | 4,203 |
Gross profit | 1,288 | 1,338 | 2,527 | 2,680 |
Operating expenses | 913 | 965 | 1,799 | 1,924 |
Operating income | 375 | 373 | 728 | 756 |
Interest expense (reversal) | 1 | 6 | 3 | (6) |
Interest income | (2) | (10) | (4) | (23) |
Income before income taxes | 376 | 377 | 729 | 785 |
Income taxes | 148 | 148 | 286 | 307 |
Net income | $228 | $229 | $443 | $478 |
Weighted-average number of shares - basic | 697 | 717 | 696 | 725 |
Weighted-average number of shares - diluted | 700 | 719 | 699 | 728 |
Earnings per share - basic | 0.33 | 0.32 | 0.64 | 0.66 |
Earnings per share - diluted | 0.33 | 0.32 | 0.63 | 0.66 |
Cash dividends declared and paid per share | 0.085 | 0.085 | 0.17 | 0.17 |
Statement Of Cash Flows Indirec
Statement Of Cash Flows Indirect (USD $) | ||
In Millions | 6 Months Ended
Aug. 01, 2009 | 6 Months Ended
Aug. 02, 2008 |
Cash flows from operating activities: | ||
Net income | $443 | $478 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 323 | 323 |
Amortization of lease incentives | (39) | (42) |
Share-based compensation | 25 | 30 |
Tax benefit from exercise of stock options and vesting of stock units | (6) | 2 |
Excess tax benefit from exercise of stock options and vesting of stock units | 0 | (3) |
Non-cash and other items | (18) | 28 |
Deferred income taxes | 0 | (2) |
Changes in operating assets and liabilities: | ||
Merchandise inventory | 45 | (128) |
Other current assets and other long-term assets | 63 | (27) |
Accounts payable | 49 | 222 |
Accrued expenses and other current liabilities | (132) | (241) |
Income taxes payable, net of prepaid and other tax-related items | (30) | (91) |
Lease incentives and other long-term liabilities | (3) | 13 |
Net cash provided by operating activities | 720 | 562 |
Cash flows from investing activities: | ||
Purchases of property and equipment | (131) | (208) |
Purchases of short-term investments | (100) | (75) |
Maturities of short-term investments | 0 | 177 |
Change in restricted cash | 18 | 5 |
Net cash used for investing activities | (213) | (101) |
Cash flows from financing activities: | ||
Payments of long-term debt | (50) | 0 |
Proceeds from share-based compensation, net of withholding tax payments | 10 | 44 |
Repurchases of common stock | (45) | (500) |
Excess tax benefit from exercise of stock options and vesting of stock units | 0 | 3 |
Cash dividends paid | (118) | (123) |
Net cash used for financing activities | (203) | (576) |
Effect of exchange rate fluctuations on cash | 12 | (3) |
Net increase (decrease) in cash and cash equivalents | 316 | (118) |
Cash and cash equivalents at beginning of period | 1,715 | 1,724 |
Cash and cash equivalents at end of period | 2,031 | 1,606 |
Supplemental disclosure of cash flow information: | ||
Cash paid for interest during the period | 2 | 9 |
Cash paid for income taxes during the period | $326 | $402 |
Notes to Financial Statements
Notes to Financial Statements | |
6 Months Ended
Aug. 01, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
Note 1. Basis of Presentation | Note 1. Basis of Presentation The Condensed Consolidated Balance Sheets as of August1, 2009 and August2, 2008, the Condensed Consolidated Statements of Income for the thirteen and twenty-six weeks ended August1, 2009 and August2, 2008, and the Condensed Consolidated Statements of Cash Flows for the twenty-six weeks ended August1, 2009 and August2, 2008 have been prepared by The Gap, Inc. (the Company, we, and our), without audit. In the opinion of management, such statements include all adjustments (which include only normal recurring adjustments) considered necessary to present fairly our financial position, results of operations, and cash flows at August1, 2009 and August2, 2008, and for all periods presented. We evaluated events occurring after August1, 2009 through September9, 2009, the date the financial statements were issued. The Condensed Consolidated Balance Sheet as of January31, 2009 has been derived from our audited financial statements. We identify our operating segments based on the way we manage and evaluate our business activities. Beginning in the fourth quarter of fiscal 2008, we have two reportable segments: Stores and Direct. 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 have been omitted from these interim financial statements. 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 January31, 2009. The results of operations for the thirteen and twenty-six weeks ended August1, 2009 are not necessarily indicative of the operating results that may be expected for the fifty-two week period ending January30, 2010. |
Note 2. Goodwill and Intangible Assets | Note 2. Goodwill and Intangible Assets Goodwill and intangible assets consist of the following and are included in other long-term assets: ($ in millions) August1, 2009 January31, 2009 August2, 2008 Goodwill $ 99 $ 99 $ Trade name $ 54 $ 54 $ Intangible assets subject to amortization $ 15 $ 15 $ Accumulated amortization (6 ) (2 ) Intangible assets subject to amortization, net $ 9 $ 13 $ All of the assets above have been allocated to the Direct reportable segment. During the thirteen and twenty-six weeks ended August1, 2009, there were no changes in the carrying amount of goodwill or trade name. Intangible assets subject to amortization, consisting primarily of customer relationships, are being amortized over a weighted-average amortization period of four years. Amortization expense associated with intangible assets subject to amortization is recorded in operating expenses in our Condensed Consolidated Statements of Income. For the thirteen and twenty-six weeks ended August1, 2009, amortization expense for intangible assets subject to amortization was $2 million and $4 million, respectively. For the remainder of fiscal 2009, we expect amortization expense for intangible assets subject to amortization to be $2 million. As of August1, 2009, future amortization expense associated with intangible assets subject to amortization for each of the five succeeding fiscal years is as follows: ($ in millions) Fiscal Year 2010 $ 4 2011 $ 2 2012 $ 1 2013 $ 2014 $ |
Note 3. Fair Value Measurements | Note 3. Fair Value Measurements Financial Assets and Liabilities Effective February3, 2008, we adopted enhanced disclosure requirements for financial assets and liabilities measured at fair value on a recurring basis. Financial assets and liabilities measured at fair value on a recurring basis are as follows: Fair Value Measurements at Reporting Date Using ($ in millions) August1,2009 QuotedPricesin Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs(Level2) Significant Unobservable Inputs (Level 3) Assets: Derivative financial instruments $ 24 $ $ 24 $ Deferred compensation plan assets 23 23 Total $ 47 $ 23 $ 24 $ Liabilities: Derivative financial instruments $ 40 $ $ 40 $ Fair Value Measurements at Reporting Date Using ($ in millions) January31,2009 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Derivative financial instruments $ 87 $ $ 87 $ Deferred compensation plan assets 18 18 Total $ 105 $ 18 $ 87 $ Liabilities: Derivative financial instruments $ 52 $ $ 52 $ Fair Value Measurements at Reporting Date Using ($ in millions) August 2, 2008 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Derivative financial instruments $ 14 $ $ 14 $ Deferred compensation plan assets 23 23 Total $ 37 $ 23 $ 14 $ Liabilities: Derivative financial instruments $ 24 $ $ 24 $ Derivative financial instruments primarily include foreign exchange forward contracts mainly for the purchase of U.S. dollars, Euro, British pounds, Japanese yen, and Canadian dollars. The fair value of the Companys derivative financial instruments is determined using pricing models based on current market rates. Derivative financial instruments in an asset position are included in other current assets or other long-term assets in the Condensed Consolidated Balance Sheets. Derivative financial instruments in a liability position are included in accrued expenses and other current liabilities or lease incentives and other long-term liabilities in the Condensed Consolidated Balance Sheets. We maintain deferred compensation plans which allow eligible employees and non-employee members of the Board of Directors to defer compensation up to a maximum amount. Plan investments are recorded at market value and are designated for the deferred compensation plans. The fair value of the Companys deferred comp |
Note 4. Derivative Financial Instruments | Note 4. Derivative Financial Instruments Effective February1, 2009, we adopted enhanced disclosure requirements for our derivative instruments and hedging activities. We operate in foreign countries, which exposes us to market risk associated with foreign currency exchange rate fluctuations. Our risk management policy is to hedge a significant portion of forecasted merchandise purchases for foreign operations, forecasted intercompany royalty payments, and intercompany balances that bear foreign exchange risk using foreign exchange forward contracts. The principal currencies hedged are U.S. dollars, Euro, British pounds, Japanese yen, and Canadian dollars. Until March 2009 we also used a cross-currency interest rate swap to swap the interest and principal payable of the $50million debt of our Japanese subsidiary, Gap (Japan) KK. In connection with the maturity of the debt, the swap was settled in March 2009. We do not enter into derivative financial contracts for trading purposes. Our derivative financial instruments are recorded in the Condensed Consolidated Balance Sheets at fair value determined using pricing models based on current market rates. Cash flows from derivative financial instruments are classified as cash flows from operating activities in the Condensed Consolidated Statements of Cash Flows. Cash Flow Hedges We designate the following foreign exchange forward contracts as cash flow hedges: forward contracts used to hedge forecasted merchandise purchases denominated primarily in U.S. dollars made by our international subsidiaries whose functional currencies are their local currencies; and forward contracts used to hedge forecasted intercompany royalty payments denominated in Japanese yen and Canadian dollars received by entities whose functional currencies are U.S. dollars. For derivative instruments that are designated and qualify as cash flow hedges, the effective portion of the gain or loss on the derivative instruments is reported as a component of other comprehensive income (OCI) and is recognized in income in the period which approximates the time the underlying transaction occurs. Gains and losses on the derivative instruments representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness, if any, are recognized in current income. During the thirteen and twenty-six weeks ended August1, 2009, there were no material amounts recorded as a result of hedge ineffectiveness, hedge components excluded from the assessment of effectiveness, or the discontinuance of cash flow hedges because the forecasted transactions were no longer probable. We make merchandise purchases on a monthly basis and we enter into foreign exchange forward contracts to hedge forecasted merchandise purchases generally occurring in 12 to 18 months. We make intercompany royalty payments on a quarterly basis and we enter into foreign exchange forward contracts to hedge intercompany royalty payments generally occurring in 12 to 15 months. As of August1, 2009 we had foreign exchange forward contracts outstanding to buy the notional amount of $636 million and 29million British pounds related to both our fo |
Note 5. Share Repurchases | Note 5. Share Repurchases Share repurchases are as follows: 13 Weeks Ended 26 Weeks Ended ($ and shares in millions except average per share amounts) August1, 2009 August2, 2008 August1, 2009 August2, 2008 Number of shares repurchased 16.3 0.4 27.7 Total cost $ $ 284 $ 5 $ 500 Average per share cost including commissions $ $ 17.45 $ 11.34 $ 18.04 In February 2008, our Board of Directors authorized $1 billion for share repurchases, of which $750 million was utilized through August1, 2009. In connection with this authorization, we entered into purchase agreements with individual members of the Fisher family. We expect that approximately $158 million (approximately 16 percent) of the $1 billion share repurchase program will be purchased from the Fisher family members under these purchase agreements (related party transactions). The shares are purchased at the same weighted-average market price that we pay for share repurchases in the open market. During the twenty-six weeks ended August1, 2009, there were share repurchases of approximately 0.1million shares for $1 million from the Fisher family. During the thirteen and twenty-six weeks ended August2, 2008, approximately 2.6million shares and 4.4million shares, respectively, were repurchased for $45 million and $79 million, respectively, from the Fisher family. |
Note 6. Share-Based Compensation | Note 6. Share-Based Compensation Share-based compensation expense recognized in the Condensed Consolidated Statements of Income, primarily in operating expenses, is as follows: ($ in millions) 13 Weeks Ended 26 Weeks Ended August1, 2009 August2, 2008 August1, 2009 August2, 2008 Stock units $ 9 $ 12 $ 20 $ 21 Stock options 3 4 3 7 Employee stock purchase plan 1 1 2 2 Share-based compensation expense 13 17 25 30 Less: Income tax benefit (5 ) (7 ) (10 ) (12 ) Share-based compensation expense, net of tax $ 8 $ 10 $ 15 $ 18 |
Note 7. Comprehensive Income | Note 7. Comprehensive Income Comprehensive income is comprised of net income and other gains and losses affecting equity that are excluded from net income. The components of other comprehensive income consist of foreign currency translation gains and losses and changes in the fair value of derivative financial instruments, net of tax. Comprehensive income, net of tax, is as follows: ($ in millions) 13 Weeks Ended 26 Weeks Ended August1, 2009 August2, 2008 August1, 2009 August2, 2008 Net income $ 228 $ 229 $ 443 $ 478 Foreign currency translation 50 7 40 2 Change in fair value of derivative financial instruments, net of tax benefit of $20, $3, $11, and $8 (31 ) (5 ) (17 ) (6 ) Reclassification adjustment for realized gains on derivative financial instruments, net of tax of $4, $4, $10, and $9 (5 ) (6 ) (16 ) (13 ) Comprehensive income, net of tax $ 242 $ 225 $ 450 $ 461 |
Note 8. Income Taxes | Note 8. Income Taxes The Company conducts business globally and, as a result, files income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. In the normal course of business we are subject to examination by taxing authorities throughout the world, including such major jurisdictions as Canada, France, Hong Kong, Japan, the United Kingdom, and the United States. With few exceptions, we are no longer subject to U.S. federal, state, local, or non-U.S. income tax examinations for fiscal years before 1998. It is reasonably possible that unrecognized tax benefits will decrease up to $26 million within the next 12 months as a result of filing amended returns, audit resolutions, and the closing of open tax years. However, we do not expect the change to have a material impact on the Condensed Consolidated Statements of Income. During fiscal 2008, we assessed the anticipated cash needs and overall financial position of our Canadian and Japanese subsidiaries. As a result, we determined that we no longer intend to utilize $137 million and $63 million of the undistributed earnings of our Canadian and Japanese subsidiaries, respectively, in foreign operations indefinitely. Of these amounts $43 million and $157 million was repatriated in the second quarter of fiscal 2009 and fiscal 2008, respectively. Accordingly, we had established a deferred tax asset and liability for U.S. income taxes as of January31, 2009 and had recorded a related tax benefit. The amount of the tax benefit was immaterial. Except as noted above and where required by U.S. tax law, no provision was made for U.S. income taxes on the undistributed earnings of the foreign subsidiaries as we intend to utilize those earnings in the foreign operations for an indefinite period of time or repatriate such earnings only when tax-effective to do so. During the twenty-six weeks ended August2, 2008, we recognized a reversal of $15 million of interest expense from the reduction of interest expense accruals resulting primarily from foreign tax audit events occurring in the period. |
Note 9. Earnings Per Share | Note 9. Earnings Per Share Basic earnings per share are computed as net income divided by the weighted-average number of common shares outstanding for the period. Diluted earnings per share are computed as net income divided by the weighted-average number of common shares outstanding for the period plus common stock equivalents. Common stock equivalents consist of shares subject to share-based awards with exercise prices less than the average market price of our common stock for the period, to the extent their inclusion would be dilutive. Weighted-average number of shares are as follows: 13 Weeks Ended 26 Weeks Ended (shares in millions) August1, 2009 August2, 2008 August1, 2009 August2, 2008 Weighted-average number of shares - basic 697 717 696 725 Common stock equivalents 3 2 3 3 Weighted-average number of shares - diluted 700 719 699 728 The above computations of weighted-average number of shares - diluted exclude 27million and 32million shares related to stock options and other stock awards for the thirteen weeks ended August1, 2009 and August2, 2008, respectively, and 29million shares related to stock options and other stock awards for both the twenty-six weeks ended August1, 2009 and August2, 2008, as their inclusion would have an antidilutive effect on earnings per share. |
Note 10. Commitments and Contingencies | Note 10. Commitments and Contingencies We have assigned certain store and corporate facility leases to third parties as of August1, 2009. Under these arrangements, we are secondarily liable and have guaranteed the lease payments of the new lessees for the remaining portion of our original lease obligations at various dates through 2019. The maximum potential amount of future lease payments we could be required to make is approximately $39 million as of August1, 2009. We recognize a liability for such guarantees when events or changes in circumstances indicate that the loss is probable and the amount of such loss can be reasonably estimated. The carrying amount of the liability related to the guarantees is $2 million as of August1, 2009. 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 financial condition or results of operations. As party to a reinsurance pool for workers compensation, general liability, and automobile liability, we have guarantees with a maximum exposure of $14 million as of August1, 2009, of which $0.2 million has been cash collateralized. We are currently in the process of winding down our participation in the reinsurance pool. Our maximum exposure and cash collateralized balance are expected to decrease in the future as our participation in the reinsurance pool diminishes. 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. Actions filed against us from time to time include commercial, intellectual property, customer, employment, data privacy, and securities related claims, including class action lawsuits in which plaintiffs allege that we violated federal and state wage and hour and other laws. 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. If the outcome of an Action is expected to result in a loss that is considered probable and reasonably estimable, we will record a liability for the estimated loss. We cannot predict with assurance the outcome of Actions brought against us. Accor |
Note 11. Segment Information | Note 11. Segment Information We identify our operating segments based on the way we manage and evaluate our business activities. All of our operating segments are in the business of selling clothing, accessories, and personal care products. Beginning in the fourth quarter of fiscal 2008, we have two reportable segments: Stores The Stores reportable segment includes the results of our retail stores for each of our brands: Gap, Old Navy, and Banana Republic. We have aggregated the results of all Stores operating segments into one reportable segment because we believe that these operating segments have similar economic characteristics. Direct The Direct reportable segment includes the results of the online business for each of our web-based brands: gap.com, oldnavy.com, bananarepublic.com, piperlime.com, and, beginning in September 2008, athleta.com. The Direct reportable segment also includes Athletas catalog business. Based on the different distribution method associated with the Direct reportable segment, Direct is considered a reportable segment. Net sales by brand, region, and reportable segment are as follows: ($ in millions) 13 Weeks Ended August1, 2009 Gap OldNavy Banana Republic Other(3) Total Percentage of Net Sales U.S.(1) $ 808 $ 1,147 $ 483 $ $ 2,438 75 % Canada 70 90 33 193 6 Europe 154 6 6 166 5 Asia 173 28 11 212 7 Other regions 12 12 Total Stores reportable segment 1,205 1,237 550 29 3,021 93 Direct reportable segment (2) 57 96 26 45 224 7 Total $ 1,262 $ 1,333 $ 576 $ 74 $ 3,245 100 % ($ in millions) 13 Weeks Ended August2, 2008 Gap Old Navy Banana Republic Other (3) Total Percentage ofNetSales U.S.(1) $ 919 $ 1,195 $ 562 $ $ 2,676 76 % Canada 80 103 37 220 6 Europe 185 6 7 198 6 Asia 160 25 12 197 6 Other regions 17 17 1 Total Stores reportable segment 1,344 1,298 630 36 3,308 95 Direct reportable segment (2) 59 92 30 10 191 5 Total $ 1,403 $ 1,390 $ 660 $ 46 $ 3,499 100 % ($ in millions) 26 Weeks Ended August1, 2009 Gap Old Navy Banana Republic Other (3) Total Percentage of Net Sales U.S.(1) $ 1,584 $ 2,257 $ 929 $ $ 4,770 75 % Canada 128 162 62 352 5 Europe 289 11 13 313 5 Asia 344 51 23 418 7 Other regions 28 28 Total Stores reportable segment 2,345 2,419 1,053 64 5,881 |
Document Information
Document Information | |
6 Months Ended
Aug. 01, 2009 USD / shares | |
Document Information [Text Block] | |
Document Type | 10-Q |
Amendment Flag | false |
Amendment Description | N.A. |
Document Period End Date | 2009-08-01 |
Entity Information
Entity Information (USD $) | |||
6 Months Ended
Aug. 01, 2009 | Sep. 03, 2009
| Aug. 01, 2008
| |
Entity [Text Block] | |||
Trading Symbol | GPS | ||
Entity Registrant Name | GAP INC | ||
Entity Central Index Key | 0000039911 | ||
Current Fiscal Year End Date | --01-31 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 697,841,367 | ||
Entity Public Float | $8,000,000,000 |