Best Buy (BBY) 10-Q 8 Sep 22 2023 Q2 Quarterly report Financial data

Document Information Statement

Document Information Statement - shares	6 Months Ended
	Jul. 30, 2022	Sep. 06, 2022
Document Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 30, 2022
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--01-28
Document Transition Report	false
Entity File Number	1-9595
Entity Registrant Name	BEST BUY CO., INC.
Entity Incorporation, State or Country Code	MN
Entity Address, Address Line One	7601 Penn Avenue South
Entity Address, City or Town	Richfield
Entity Address, State or Province	MN
Entity Tax Identification Number	41-0907483
Entity Address, Postal Zip Code	55423
City Area Code	612
Local Phone Number	291-1000
Title of 12(b) Security	Common Stock, $0.10 par value per share
Trading Symbol	BBY
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		225,130,807
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000764478
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jul. 30, 2022	Jan. 29, 2022	Jul. 31, 2021
Current assets
Cash and cash equivalents	$ 840	$ 2,936	$ 4,340
Receivables, net	840	1,042	883
Merchandise inventories	6,043	5,965	6,417
Other current assets	621	596	400
Total current assets	8,344	10,539	12,040
Property and equipment, net	2,319	2,250	2,226
Operating lease assets	2,796	2,654	2,670
Goodwill	1,385	1,384	986
Other assets	575	677	657
Total assets	15,419	17,504	18,579
Current liabilities
Accounts payable	5,406	6,803	6,946
Accrued compensation and related expenses	374	845	605
Accrued liabilities	820	946	892
Short-term debt			110
Current portion of operating lease liabilities	629	648	643
Current portion of long-term debt	15	13	14
Total current liabilities	8,650	10,674	10,357
Long-term operating lease liabilities	2,221	2,061	2,090
Long-term debt	1,184	1,216	1,243
Long-term liabilities	472	533	554
Contingencies (Note 11)
Equity
Preferred stock, $1.00 par value: Authorized - 400,000 shares; Issued and outstanding - none
Common stock, $0.10 par value: Authorized - 1.0 billion shares; Issued and outstanding - 225.1 million, 227.4 million and 247.3 million shares, respectively	22	23	25
Additional paid-in capital	20
Retained earnings	2,522	2,668	3,975
Accumulated other comprehensive income	328	329	335
Total equity	2,892	3,020	4,335
Total liabilities and equity	15,419	17,504	18,579
Gift Card [Member]
Current liabilities
Short-term contract liabilities	273	316	293
Deferred Revenue [Member]
Current liabilities
Short-term contract liabilities	$ 1,133	$ 1,103	$ 854

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jul. 30, 2022	Jan. 29, 2022	Jul. 31, 2021
Condensed Consolidated Balance Sheets [Abstract]
Preferred stock, par value (in dollars per share)	$ 1	$ 1	$ 1
Preferred stock, authorized shares	400,000	400,000	400,000
Preferred stock, issued shares	0	0	0
Preferred stock, outstanding shares	0	0	0
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10	$ 0.10
Common stock, authorized shares	1,000,000,000	1,000,000,000	1,000,000,000
Common stock, issued shares	225,100,000	227,400,000	247,300,000
Common stock, outstanding shares	225,100,000	227,400,000	247,300,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021	Jul. 30, 2022	Jul. 31, 2021
Condensed Consolidated Statements of Earnings [Abstract]
Revenue	$ 10,329	$ 11,849	$ 20,976	$ 23,486
Cost of sales	8,042	9,039	16,336	17,961
Gross profit	2,287	2,810	4,640	5,525
Selling, general and administrative expenses	1,882	2,009	3,772	3,997
Restructuring charges	34	4	35	(38)
Operating income	371	797	833	1,566
Other income (expense):
Investment income (loss) and other	3	3	(2)	6
Interest expense	(7)	(6)	(13)	(12)
Earnings before income tax expense and equity in income of affiliates	367	794	818	1,560
Income tax expense	58	64	168	236
Equity in income (loss) of affiliates	(3)	4	(3)	5
Net earnings	$ 306	$ 734	$ 647	$ 1,329
Basic earnings per share	$ 1.36	$ 2.93	$ 2.86	$ 5.28
Diluted earnings per share	$ 1.35	$ 2.90	$ 2.85	$ 5.22
Weighted-average common shares outstanding:
Basic	225.4	250.2	226.1	251.7
Diluted	226.1	252.8	227.2	254.7

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021	Jul. 30, 2022	Jul. 31, 2021
Condensed Consolidated Statements of Comprehensive Income [Abstract]
Net earnings	$ 306	$ 734	$ 647	$ 1,329
Foreign currency translation adjustments, net of tax		(3)	(1)	7
Comprehensive income	$ 306	$ 731	$ 646	$ 1,336

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021
Operating activities
Net earnings	$ 647	$ 1,329
Adjustments to reconcile net earnings to total cash provided by (used in) operating activities:
Depreciation and amortization	453	430
Restructuring charges	35	(38)
Stock-based compensation	65	71
Other, net	19	2
Changes in operating assets and liabilities, net of acquired assets and liabilities:
Receivables	201	175
Merchandise inventories	(79)	(794)
Other assets	(13)	(19)
Accounts payable	(1,434)	(58)
Income taxes	42	(162)
Other liabilities	(645)	(72)
Total cash provided by (used in) operating activities	(709)	864
Investing activities
Additions to property and equipment	(441)	(323)
Purchases of investments	(46)	(93)
Sales of investments	2	60
Other, net	1	(2)
Total cash used in investing activities	(484)	(358)
Financing activities
Repurchase of common stock	(465)	(1,323)
Dividends paid	(397)	(350)
Other, net	1	11
Total cash used in financing activities	(861)	(1,662)
Effect of exchange rate changes on cash and cash equivalents	1	5
Decrease in cash, cash equivalents and restricted cash	(2,053)	(1,151)
Cash, cash equivalents and restricted cash at beginning of period	3,205	5,625
Cash, cash equivalents and restricted cash at end of period	$ 1,152	$ 4,474

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($) shares in Millions, $ in Millions	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Balances at Jan. 30, 2021	$ 26		$ 4,233	$ 328	$ 4,587
Balances (in shares) at Jan. 30, 2021	256.9
Net earnings			1,329		1,329
Other comprehensive income (loss):
Foreign currency translation adjustments, net of tax				7	7
Stock-based compensation		$ 71			71
Issuance of common stock		22			22
Issuance of common stock (in shares)	2.5
Common stock dividends		8	(358)		(350)
Repurchase of common stock	$ (1)	(101)	(1,229)		(1,331)
Repurchase of common stock (in shares)	(12.1)
Balances at Jul. 31, 2021	$ 25		3,975	335	4,335
Balances (in shares) at Jul. 31, 2021	247.3
Balances at May. 01, 2021	$ 25	33	3,762	338	4,158
Balances (in shares) at May. 01, 2021	250.4
Net earnings			734		734
Other comprehensive income (loss):
Foreign currency translation adjustments, net of tax				(3)	(3)
Stock-based compensation		34			34
Issuance of common stock		3			3
Issuance of common stock (in shares)	0.6
Common stock dividends		5	(180)		(175)
Repurchase of common stock		(75)	(341)		(416)
Repurchase of common stock (in shares)	(3.7)
Balances at Jul. 31, 2021	$ 25		3,975	335	4,335
Balances (in shares) at Jul. 31, 2021	247.3
Balances at Jan. 29, 2022	$ 23		2,668	329	3,020
Balances (in shares) at Jan. 29, 2022	227.4
Net earnings			647		647
Other comprehensive income (loss):
Foreign currency translation adjustments, net of tax				(1)	(1)
Stock-based compensation		65			65
Issuance of common stock		10			10
Issuance of common stock (in shares)	2.3
Common stock dividends		7	(404)		(397)
Repurchase of common stock	$ (1)	(62)	(389)		(452)
Repurchase of common stock (in shares)	(4.6)
Balances at Jul. 30, 2022	$ 22	20	2,522	328	2,892
Balances (in shares) at Jul. 30, 2022	225.1
Balances at Apr. 30, 2022	$ 22		2,417	328	2,767
Balances (in shares) at Apr. 30, 2022	224.6
Net earnings			306		306
Other comprehensive income (loss):
Stock-based compensation		26			26
Issuance of common stock		1			1
Issuance of common stock (in shares)	0.6
Common stock dividends		3	(201)		(198)
Repurchase of common stock		(10)			(10)
Repurchase of common stock (in shares)	(0.1)
Balances at Jul. 30, 2022	$ 22	$ 20	$ 2,522	$ 328	$ 2,892
Balances (in shares) at Jul. 30, 2022	225.1

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021	Jul. 30, 2022	Oct. 30, 2021
Condensed Consolidated Statements of Changes in Shareholders' Equity [Abstract]
Common Stock, Dividends, Per Share, Declared	$ 0.88	$ 0.70	$ 1.76	$ 1.40

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jul. 30, 2022
Basis of Presentation [Abstract]
Basis of Presentation	1. Basis of Presentation Unless the context otherwise requires, the use of the terms “Best Buy,” “we,” “us” and “our” in these Notes to Condensed Consolidated Financial Statements refers to Best Buy Co., Inc. and, as applicable, its consolidated subsidiaries. In the opinion of management, the accompanying condensed consolidated financial statements contain all adjustments necessary for a fair presentation as prescribed by accounting principles generally accepted in the U.S. (“GAAP”). All adjustments were comprised of normal recurring adjustments, except as noted in these Notes to Condensed Consolidated Financial Statements. Historically, we have generated a large proportion of our revenue and earnings in the fiscal fourth quarter, which includes the majority of the holiday shopping season. Due to the seasonal nature of our business, interim results are not necessarily indicative of results for the entire fiscal year. The interim financial statements and the related notes included in this Quarterly Report on Form 10-Q should be read in conjunction with the consolidated financial statements and related notes included in our Annual Report on Form 10-K for the fiscal year ended January 29, 2022. The first six months of fiscal 2023 and fiscal 2022 included 26 weeks. In preparing the accompanying condensed consolidated financial statements, we evaluated the period from July 30, 2022, through the date the financial statements were issued for material subsequent events requiring recognition or disclosure. Other than the Inflation Reduction Act of 2022 that was enacted on August 16, 2022, n o such events were identified for the reported periods. See Note 10, Income Taxes , for additional information. Total Cash, Cash Equivalents and Restricted Cash Cash, cash equivalents and restricted cash reported on our Condensed Consolidated Balance Sheets are reconciled to the total shown on our Condensed Consolidated Statements of Cash Flows as follows ($ in millions): July 30, 2022 January 29, 2022 July 31, 2021 Cash and cash equivalents $ 840 $ 2,936 $ 4,340 Restricted cash included in Other current assets 312 269 134 Total cash, cash equivalents and restricted cash $ 1,152 $ 3,205 $ 4,474 Amounts included in restricted cash are primarily restricted to cover product protection plans provided under our Best Buy Totaltech membership offering and self-insurance liabilities.

Restructuring

Restructuring	6 Months Ended
	Jul. 30, 2022
Restructuring [Abstract]
Restructuring	2. Restructuring Restructuring charges were as follows ($ in millions): Three Months Ended Six Months Ended July 30, 2022 July 31, 2021 July 30, 2022 July 31, 2021 Fiscal 2023 Resource Optimization Initiative $ 34 $ - $ 34 $ - Mexico Exit and Strategic Realignment (1) - 4 1 ( 44 ) Total $ 34 $ 4 $ 35 $ ( 44 ) (1) Includes ($ 6 ) million related to inventory markdowns recorded in Cost of Sales on our Condensed Consolidated Statements of Earnings for the six months ended July 31, 2021. Fiscal 2023 Resource Optimization Initiative In light of ongoing changes in business trends, during the second quarter of fiscal 2023, we commenced an enterprise-wide initiative to better align our spending with critical strategies and operations, as well as to optimize our cost structure. We incurred $ 34 million of charges in our Domestic segment related to termination benefits. We currently expect to incur additional charges through the remainder of fiscal 2023, primarily within our Domestic segment, of approximately $ 40 million to $ 65 million related to this initiative. All charges incurred related to this plan were from continuing operations and were presented within Restructuring charges on our Condensed Consolidated Statements of Earnings. There were $ 1 million of cash payments related to this initiative during the second quarter of fiscal 2023, and our remaining termination benefits liability as of July 30, 2022, was $ 33 million. Mexico Exit and Strategic Realignment In the third quarter of fiscal 2021, we made the decision to exit our operations in Mexico and began taking other actions to more broadly align our organizational structure in support of our strategy. Charges incurred in our International segment primarily related to our decision to exit our operations in Mexico. All of our former stores in Mexico were closed as of the first quarter of fiscal 2022 . Charges incurred in our Domestic segment primarily related to actions taken to align our organizational structure in support of our strategy. During the six months ended July 31, 2021, we recorded a $ 44 million credit primarily due to a reduction in expected termination benefits resulting from adjustments to previously planned organizational changes and higher-than-expected employee retention. All charges incurred related to this plan were from continuing operations and were presented as follows ($ in millions): Statement of Three Months Ended July 31, 2021 Six Months Ended July 31, 2021 Earnings Location Domestic International Total Domestic International Total Inventory markdowns Cost of sales $ - $ - $ - $ - $ ( 6 ) $ ( 6 ) Asset impairments Restructuring charges - 4 4 - 7 7 Termination benefits Restructuring charges - - - ( 44 ) ( 1 ) ( 45 ) $ - $ 4 $ 4 $ ( 44 ) $ - $ ( 44 ) Statement of Cumulative Amount as of July 30, 2022 Earnings Location Domestic International Total Inventory markdowns Cost of sales $ - $ 17 $ 17 Asset impairments (1) Restructuring charges 10 63 73 Termination benefits Restructuring charges 83 19 102 Currency translation adjustment Restructuring charges - 39 39 Other (2) Restructuring charges - 6 6 $ 93 $ 144 $ 237 (1) Remaining net carrying value approximates fair value and was immaterial as of July 30, 2022. (2) Other charges are primarily comprised of contract termination costs. We do not expect to incur material future restructuring charges related to the exit from Mexico or strategic realignment initiatives described above, and no material liability remains as of July 30, 2022.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jul. 30, 2022
Goodwill and Intangible Assets [Abstract]
Goodwill and Intangible Assets	3. Goodwill and Intangible Assets Goodwill Goodwill balances by reportable segment were as follows ($ in millions): July 30, 2022 January 29, 2022 July 31, 2021 Gross Carrying Amount Cumulative Impairment Gross Carrying Amount Cumulative Impairment Gross Carrying Amount Cumulative Impairment Domestic $ 1,452 $ ( 67 ) $ 1,451 $ ( 67 ) $ 1,053 $ ( 67 ) International 608 ( 608 ) 608 ( 608 ) 608 ( 608 ) Total $ 2,060 $ ( 675 ) $ 2,059 $ ( 675 ) $ 1,661 $ ( 675 ) No impairment charges were recorded during the periods presented. Definite-Lived Intangible Assets We have definite-lived intangible assets that are recorded within Other assets on our Condensed Consolidated Balance Sheets as follows ($ in millions): July 30, 2022 January 29, 2022 July 31, 2021 Weighted-Average Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Useful Life Remaining as of July 30, 2022 (in years) Customer relationships $ 360 $ 208 $ 360 $ 180 $ 339 $ 152 7.7 Tradenames 108 47 108 38 81 31 5.5 Developed technology 64 46 64 39 56 32 2.7 Total $ 532 $ 301 $ 532 $ 257 $ 476 $ 215 6.8 Amortization expense was as follows ($ in millions): Statement of Three Months Ended Six Months Ended Earnings Location July 30, 2022 July 31, 2021 July 30, 2022 July 31, 2021 Amortization expense SG&A $ 22 $ 20 $ 44 $ 40 Amortization expense expected to be recognized in future periods is as follows ($ in millions): Amortization Expense Remainder of fiscal 2023 $ 43 Fiscal 2024 61 Fiscal 2025 21 Fiscal 2026 20 Fiscal 2027 18 Fiscal 2028 12 Thereafter 56

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jul. 30, 2022
Fair Value Measurements [Abstract]
Fair Value Measurements	4 . Fair Value Measurements Fair value measurements are reported in one of three levels based on the lowest level of significant input used: Level 1 (unadjusted quoted prices in active markets); Level 2 (observable market inputs, other than quoted prices included in Level 1); and Level 3 (unobservable inputs that cannot be corroborated by observable market data). Recurring Fair Value Measurements Financial assets accounted for at fair value were as follows ($ in millions): Fair Value at Balance Sheet Location (1) Fair Value Hierarchy July 30, 2022 January 29, 2022 July 31, 2021 Assets Money market funds (2) Cash and cash equivalents Level 1 $ 1 $ 548 $ 1,113 Time deposits (3) Cash and cash equivalents Level 2 26 278 625 Money market funds (2) Other current assets Level 1 125 - - Time deposits (3) Other current assets Level 2 - - 65 Marketable securities that fund deferred compensation (4) Other assets Level 1 48 54 54 Interest rate swap derivative instruments (5) Other assets Level 2 19 50 79 (1) Balance sheet location is determined by length to maturity at date of purchase. (2) Valued at quoted market prices in active markets at period end. (3) Valued at face value plus accrued interest at period end, which approximates fair value. (4) Valued using the performance of mutual funds that trade with sufficient frequency and volume to obtain pricing information on an ongoing basis. (5) Valued using readily observable market inputs. These instruments are custom, over-the-counter contracts with various bank counterparties that are not traded on an active market. See Note 5, Derivative Instruments , for additional information. Fair Value of Financial Instruments The fair values of cash, restricted cash, receivables, accounts payable, short-term debt and other payables approximated their carrying values because of the short-term nature of these instruments. If these instruments were measured at fair value in the financial statements, they would be classified as Level 1 in the fair value hierarchy. Fair values for other instruments held at cost are not readily available, but we estimate that the carrying values for these investments approximate their fair values. Long-term debt is presented at carrying value on our Condensed Consolidated Balance Sheets. If our long-term debt were recorded at fair value, it would be classified as Level 2 in the fair value hierarchy. Long-term debt balances were as follows ($ in millions): July 30, 2022 January 29, 2022 July 31, 2021 Fair Value Carrying Value Fair Value Carrying Value Fair Value Carrying Value Long-term debt (1) $ 1,069 $ 1,169 $ 1,205 $ 1,200 $ 1,306 $ 1,229 (1) Excluded debt discounts, issuance costs and finance lease obligations .

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jul. 30, 2022
Derivative Instruments [Abstract]
Derivative Instruments	5. Derivative Instruments We manage our economic and transaction exposure to certain risks by using foreign exchange forward contracts to hedge against the effect of Canadian dollar exchange rate fluctuations on a portion of our net investment in our Canadian operations and by using interest rate swaps to mitigate the effect of interest rate fluctuations on our $ 500 million principal amount of notes due October 1, 2028 (“2028 Notes”). In addition, we use foreign currency forward contracts not designated as hedging instruments to manage the impact of fluctuations in foreign currency exchange rates relative to recognized receivable and payable balances denominated in non-functional currencies. Our derivative instruments designated as net investment hedges and interest rate swaps are recorded on our Condensed Consolidated Balance Sheets at fair value. See Note 4, Fair Value Measurements , for gross fair values of our outstanding derivative instruments and corresponding fair value classifications. Notional amounts of our derivative instruments were as follows ($ in millions): Contract Type July 30, 2022 January 29, 2022 July 31, 2021 Derivatives designated as net investment hedges $ 118 $ 155 $ 109 Derivatives designated as interest rate swaps 500 500 500 No hedge designation (foreign exchange contracts) 65 68 46 Total $ 683 $ 723 $ 655 Effects of our derivatives on our Condensed Consolidated Statements of Earnings were as follows ($ in millions): Gain (Loss) Recognized Statement of Three Months Ended Six Months Ended Earnings Location July 30, 2022 July 31, 2021 July 30, 2022 July 31, 2021 Interest rate swap contracts Interest expense $ 14 $ 14 $ ( 31 ) $ ( 12 ) Adjustments to carrying value of long-term debt Interest expense ( 14 ) ( 14 ) 31 12 Total $ - $ - $ - $ -

Debt

Debt	6 Months Ended
	Jul. 30, 2022
Debt [Abstract]
Debt	6. Debt Short-Term Debt U.S. Revolving Credit Facility We have a $ 1.25 billion, five year senior unsecured revolving credit facility agreement (the “Five-Year Facility Agreement”) with a syndicate of banks. The Five-Year Facility Agreement permits borrowings of up to $ 1.25 billion and expires in May 2026. There were no borrowings outstanding under the Five-Year Facility Agreement as of July 30, 2022, January 29, 2022, or July 31, 2021. Bank Advance In conjunction with a solar energy investment, we were advanced $ 110 million due October 31, 2021. The advance was recorded within Short-term debt on our Condensed Consolidated Balance Sheets as of July 31, 2021, and bore interest at 0.14 %. This advance was repaid on October 29, 2021. Long-Term Debt Long-term debt consisted of the following ($ in millions): July 30, 2022 January 29, 2022 July 31, 2021 Notes, 4.45 %, due October 1, 2028 $ 500 $ 500 $ 500 Notes, 1.95 %, due October 1, 2030 650 650 650 Interest rate swap valuation adjustments 19 50 79 Subtotal 1,169 1,200 1,229 Debt discounts and issuance costs ( 10 ) ( 11 ) ( 12 ) Finance lease obligations 40 40 40 Total long-term debt 1,199 1,229 1,257 Less current portion 15 13 14 Total long-term debt, less current portion $ 1,184 $ 1,216 $ 1,243 See Note 4, Fair Value Measurements , for the fair value of long-term debt.

Revenue

Revenue	6 Months Ended
	Jul. 30, 2022
Revenue [Abstract]
Revenue	7. Revenue We generate substantially all of our revenue from contracts with customers for the sale of products and services. Contract balances primarily consist of receivables and liabilities related to product merchandise not yet delivered to customers, unfulfilled membership benefits and services not yet completed, unredeemed gift cards and options that provide a material right to customers, such as our customer loyalty programs. Contract balances were as follows ($ in millions): July 30, 2022 January 29, 2022 July 31, 2021 Receivables, net (1) $ 534 $ 591 $ 528 Short-term contract liabilities included in: Unredeemed gift card liabilities 273 316 293 Deferred revenue 1,133 1,103 854 Accrued liabilities 78 83 79 (1) Receivables are recorded net of allowances for doubtful accounts of $ 21 million, $ 31 million and $ 24 million as of July 30, 2022, January 29, 2022, and July 31, 2021, respectively. During the first six months of fiscal 2023 and fiscal 2022, $ 1,089 million and $ 866 million of revenue was recognized, respectively, that was included in the contract liabilities at the beginning of the respective periods. See Note 12, Segments , for information on our revenue by reportable segment and product category.

Earnings per Share

Earnings per Share	6 Months Ended
	Jul. 30, 2022
Earnings per Share [Abstract]
Earnings per Share	8. Earnings per Share We compute our basic earnings per share based on the weighted-average number of common shares outstanding and our diluted earnings per share based on the weighted-average number of common shares outstanding adjusted by the number of additional shares that would have been outstanding had potentially dilutive common shares been issued. Reconciliations of the numerators and denominators of basic and diluted earnings per share were as follows ($ and shares in millions, except per share amounts): Three Months Ended Six Months Ended July 30, 2022 July 31, 2021 July 30, 2022 July 31, 2021 Numerator Net earnings $ 306 $ 734 $ 647 $ 1,329 Denominator Weighted-average common shares outstanding 225.4 250.2 226.1 251.7 Dilutive effect of stock compensation plan awards 0.7 2.6 1.1 3.0 Weighted-average common shares outstanding, assuming dilution 226.1 252.8 227.2 254.7 Potential shares which were anti-dilutive and excluded from weighted-average share computations 2.1 - 1.9 - Basic earnings per share $ 1.36 $ 2.93 $ 2.86 $ 5.28 Diluted earnings per share $ 1.35 $ 2.90 $ 2.85 $ 5.22

Repurchase of Common Stock

Repurchase of Common Stock	6 Months Ended
	Jul. 30, 2022
Shareholders' Equity [Abstract]
Shareholders' Equity	9. Repurchase of Common Stock On February 28, 2022, our Board of Directors approved a new $ 5.0 billion share repurchase program, which replaced the $ 5.0 billion share repurchase program authorized on February 16, 2021 . There is no expiration date governing the period over which we can repurchase shares under this authorization. Share repurchases were paused during the second quarter of fiscal 2023. Information regarding the shares we repurchased and retired was as follows ($ and shares in millions, except per share amounts): Three Months Ended Six Months Ended July 30, 2022 July 31, 2021 July 30, 2022 July 31, 2021 Total cost of shares repurchased $ 10 $ 416 $ 452 $ 1,331 Average price per share $ 83.71 $ 112.75 $ 96.83 $ 109.92 Number of shares repurchased 0.1 3.7 4.6 12.1 As of July 30, 2022, $ 4.7 billion of the $ 5.0 billion share repurchase authorization was available.

Income Taxes

Income Taxes	6 Months Ended
	Jul. 30, 2022
Income Taxes [Abstract]
Income Taxes	10. Income Taxes Unrecognized Tax Benefits Our income tax returns are routinely examined by domestic and foreign tax authorities. During the second quarter of fiscal 2022, we reduced our unrecognized tax benefits by $ 101 million relating to multi-jurisdiction, multi-year, non-cash benefits from the resolution of certain discrete tax matters, all of which resulted in a tax benefit. Inflation Reduction Act of 2022 On August 16, 2022, the U.S. enacted the Inflation Reduction Act of 2022, which , among other things, implements a 15 % minimum tax on book income of certain large corporations, a 1 % excise tax on net stock repurchases and several tax incentives to promote clean energy. Based on our current analysis of the provisions, we do not believe this legislation will have a material impact on our consolidated financial statements.

Contingencies

Contingencies	6 Months Ended
	Jul. 30, 2022
Contingencies [Abstract]
Contingencies	11. Contingencies We are involved in a number of legal proceedings. Where appropriate, we have made accruals with respect to these matters, which are reflected on our Condensed Consolidated Financial Statements. However, there are cases where liability is not probable or the amount cannot be reasonably estimated and, therefore, accruals have not been made. We provide disclosure of matters where we believe it is reasonably possible the impact may be material to our Condensed Consolidated Financial Statements.

Segments

Segments	6 Months Ended
	Jul. 30, 2022
Segments [Abstract]
Segments	12. Segments Reportable segment and product category revenue information was as follows ($ in millions): Three Months Ended Six Months Ended July 30, 2022 July 31, 2021 July 30, 2022 July 31, 2021 Revenue by reportable segment Domestic $ 9,569 $ 11,011 $ 19,463 $ 21,852 International 760 838 1,513 1,634 Total revenue $ 10,329 $ 11,849 $ 20,976 $ 23,486 Revenue by product category Domestic: Computing and Mobile Phones $ 3,964 $ 4,765 $ 8,249 $ 9,558 Consumer Electronics 2,845 3,380 5,741 6,618 Appliances 1,657 1,688 3,247 3,237 Entertainment 508 560 1,081 1,228 Services 516 570 1,005 1,126 Other 79 48 140 85 Total Domestic revenue $ 9,569 $ 11,011 $ 19,463 $ 21,852 International: Computing and Mobile Phones $ 327 $ 373 $ 671 $ 767 Consumer Electronics 223 250 436 467 Appliances 104 103 175 173 Entertainment 51 57 108 122 Services 37 40 91 75 Other 18 15 32 30 Total International revenue $ 760 $ 838 $ 1,513 $ 1,634 Operating income by reportable segment and the reconciliation to consolidated earnings before income tax expense and equity in income (loss) of affiliates was as follows ($ in millions): Three Months Ended Six Months Ended July 30, 2022 July 31, 2021 July 30, 2022 July 31, 2021 Domestic $ 343 $ 757 $ 772 $ 1,491 International 28 40 61 75 Total operating income 371 797 833 1,566 Other income (expense): Investment income (loss) and other 3 3 ( 2 ) 6 Interest expense ( 7 ) ( 6 ) ( 13 ) ( 12 ) Earnings before income tax expense and equity in income (loss) of affiliates $ 367 $ 794 $ 818 $ 1,560 Assets by reportable segment were as follows ($ in millions): July 30, 2022 January 29, 2022 July 31, 2021 Domestic $ 14,272 $ 16,016 $ 17,296 International 1,147 1,488 1,283 Total assets $ 15,419 $ 17,504 $ 18,579

Basis of Presentation (Tables)

Basis of Presentation (Tables)	6 Months Ended
	Jul. 30, 2022
Basis of Presentation [Abstract]
Total Cash, Cash Equivalents and Restricted Cash	July 30, 2022 January 29, 2022 July 31, 2021 Cash and cash equivalents $ 840 $ 2,936 $ 4,340 Restricted cash included in Other current assets 312 269 134 Total cash, cash equivalents and restricted cash $ 1,152 $ 3,205 $ 4,474

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
	Jul. 30, 2022
Restructuring Cost and Reserve [Line Items]
Composition of Restructuring Charges	Three Months Ended Six Months Ended July 30, 2022 July 31, 2021 July 30, 2022 July 31, 2021 Fiscal 2023 Resource Optimization Initiative $ 34 $ - $ 34 $ - Mexico Exit and Strategic Realignment (1) - 4 1 ( 44 ) Total $ 34 $ 4 $ 35 $ ( 44 ) (1) Includes ($ 6 ) million related to inventory markdowns recorded in Cost of Sales on our Condensed Consolidated Statements of Earnings for the six months ended July 31, 2021.
Mexico Exit And Strategic Realignment [Member]
Restructuring Cost and Reserve [Line Items]
Composition of Restructuring Charges	Statement of Three Months Ended July 31, 2021 Six Months Ended July 31, 2021 Earnings Location Domestic International Total Domestic International Total Inventory markdowns Cost of sales $ - $ - $ - $ - $ ( 6 ) $ ( 6 ) Asset impairments Restructuring charges - 4 4 - 7 7 Termination benefits Restructuring charges - - - ( 44 ) ( 1 ) ( 45 ) $ - $ 4 $ 4 $ ( 44 ) $ - $ ( 44 ) Statement of Cumulative Amount as of July 30, 2022 Earnings Location Domestic International Total Inventory markdowns Cost of sales $ - $ 17 $ 17 Asset impairments (1) Restructuring charges 10 63 73 Termination benefits Restructuring charges 83 19 102 Currency translation adjustment Restructuring charges - 39 39 Other (2) Restructuring charges - 6 6 $ 93 $ 144 $ 237 (1) Remaining net carrying value approximates fair value and was immaterial as of July 30, 2022. (2) Other charges are primarily comprised of contract termination costs.

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jul. 30, 2022
Goodwill and Intangible Assets [Abstract]
Gross Carrying Amount of Goodwill and Cumulative Goodwill Impairment	July 30, 2022 January 29, 2022 July 31, 2021 Gross Carrying Amount Cumulative Impairment Gross Carrying Amount Cumulative Impairment Gross Carrying Amount Cumulative Impairment Domestic $ 1,452 $ ( 67 ) $ 1,451 $ ( 67 ) $ 1,053 $ ( 67 ) International 608 ( 608 ) 608 ( 608 ) 608 ( 608 ) Total $ 2,060 $ ( 675 ) $ 2,059 $ ( 675 ) $ 1,661 $ ( 675 )
Definite-Lived Intangible Assets	July 30, 2022 January 29, 2022 July 31, 2021 Weighted-Average Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Useful Life Remaining as of July 30, 2022 (in years) Customer relationships $ 360 $ 208 $ 360 $ 180 $ 339 $ 152 7.7 Tradenames 108 47 108 38 81 31 5.5 Developed technology 64 46 64 39 56 32 2.7 Total $ 532 $ 301 $ 532 $ 257 $ 476 $ 215 6.8
Amortization Expense	Statement of Three Months Ended Six Months Ended Earnings Location July 30, 2022 July 31, 2021 July 30, 2022 July 31, 2021 Amortization expense SG&A $ 22 $ 20 $ 44 $ 40
Amortization Expense Expected to be Recognized	Amortization Expense Remainder of fiscal 2023 $ 43 Fiscal 2024 61 Fiscal 2025 21 Fiscal 2026 20 Fiscal 2027 18 Fiscal 2028 12 Thereafter 56

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jul. 30, 2022
Fair Value Measurements [Abstract]
Fair Value, Assets and Liabilities Measured on Recurring Basis	Fair Value at Balance Sheet Location (1) Fair Value Hierarchy July 30, 2022 January 29, 2022 July 31, 2021 Assets Money market funds (2) Cash and cash equivalents Level 1 $ 1 $ 548 $ 1,113 Time deposits (3) Cash and cash equivalents Level 2 26 278 625 Money market funds (2) Other current assets Level 1 125 - - Time deposits (3) Other current assets Level 2 - - 65 Marketable securities that fund deferred compensation (4) Other assets Level 1 48 54 54 Interest rate swap derivative instruments (5) Other assets Level 2 19 50 79 (1) Balance sheet location is determined by length to maturity at date of purchase. (2) Valued at quoted market prices in active markets at period end. (3) Valued at face value plus accrued interest at period end, which approximates fair value. (4) Valued using the performance of mutual funds that trade with sufficient frequency and volume to obtain pricing information on an ongoing basis. (5) Valued using readily observable market inputs. These instruments are custom, over-the-counter contracts with various bank counterparties that are not traded on an active market. See Note 5, Derivative Instruments , for additional information.
Fair Value of Financial Instruments	July 30, 2022 January 29, 2022 July 31, 2021 Fair Value Carrying Value Fair Value Carrying Value Fair Value Carrying Value Long-term debt (1) $ 1,069 $ 1,169 $ 1,205 $ 1,200 $ 1,306 $ 1,229 (1) Excluded debt discounts, issuance costs and finance lease obligations .

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Jul. 30, 2022
Derivative Instruments [Abstract]
Notional Amount of Derivative Instruments	Contract Type July 30, 2022 January 29, 2022 July 31, 2021 Derivatives designated as net investment hedges $ 118 $ 155 $ 109 Derivatives designated as interest rate swaps 500 500 500 No hedge designation (foreign exchange contracts) 65 68 46 Total $ 683 $ 723 $ 655
Effects of Derivative Instruments on OCI and Earnings	Gain (Loss) Recognized Statement of Three Months Ended Six Months Ended Earnings Location July 30, 2022 July 31, 2021 July 30, 2022 July 31, 2021 Interest rate swap contracts Interest expense $ 14 $ 14 $ ( 31 ) $ ( 12 ) Adjustments to carrying value of long-term debt Interest expense ( 14 ) ( 14 ) 31 12 Total $ - $ - $ - $ -

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jul. 30, 2022
Debt [Abstract]
Schedule of Long-term Debt	July 30, 2022 January 29, 2022 July 31, 2021 Notes, 4.45 %, due October 1, 2028 $ 500 $ 500 $ 500 Notes, 1.95 %, due October 1, 2030 650 650 650 Interest rate swap valuation adjustments 19 50 79 Subtotal 1,169 1,200 1,229 Debt discounts and issuance costs ( 10 ) ( 11 ) ( 12 ) Finance lease obligations 40 40 40 Total long-term debt 1,199 1,229 1,257 Less current portion 15 13 14 Total long-term debt, less current portion $ 1,184 $ 1,216 $ 1,243

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jul. 30, 2022
Revenue [Abstract]
Contract Balances and Changes in Contract Balances	July 30, 2022 January 29, 2022 July 31, 2021 Receivables, net (1) $ 534 $ 591 $ 528 Short-term contract liabilities included in: Unredeemed gift card liabilities 273 316 293 Deferred revenue 1,133 1,103 854 Accrued liabilities 78 83 79 (1) Receivables are recorded net of allowances for doubtful accounts of $ 21 million, $ 31 million and $ 24 million as of July 30, 2022, January 29, 2022, and July 31, 2021, respectively.

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Jul. 30, 2022
Earnings per Share [Abstract]
Schedule of Calculation of Numerator and Denominator in Earnings Per Share	Three Months Ended Six Months Ended July 30, 2022 July 31, 2021 July 30, 2022 July 31, 2021 Numerator Net earnings $ 306 $ 734 $ 647 $ 1,329 Denominator Weighted-average common shares outstanding 225.4 250.2 226.1 251.7 Dilutive effect of stock compensation plan awards 0.7 2.6 1.1 3.0 Weighted-average common shares outstanding, assuming dilution 226.1 252.8 227.2 254.7 Potential shares which were anti-dilutive and excluded from weighted-average share computations 2.1 - 1.9 - Basic earnings per share $ 1.36 $ 2.93 $ 2.86 $ 5.28 Diluted earnings per share $ 1.35 $ 2.90 $ 2.85 $ 5.22

Repurchase of Common Stock (Tab

Repurchase of Common Stock (Tables)	6 Months Ended
	Jul. 30, 2022
Shareholders' Equity [Abstract]
Schedule of share repurchases	Three Months Ended Six Months Ended July 30, 2022 July 31, 2021 July 30, 2022 July 31, 2021 Total cost of shares repurchased $ 10 $ 416 $ 452 $ 1,331 Average price per share $ 83.71 $ 112.75 $ 96.83 $ 109.92 Number of shares repurchased 0.1 3.7 4.6 12.1

Segments (Tables)

Segments (Tables)	6 Months Ended
	Jul. 30, 2022
Segments [Abstract]
Revenue by Reportable Segment and Product Category	Three Months Ended Six Months Ended July 30, 2022 July 31, 2021 July 30, 2022 July 31, 2021 Revenue by reportable segment Domestic $ 9,569 $ 11,011 $ 19,463 $ 21,852 International 760 838 1,513 1,634 Total revenue $ 10,329 $ 11,849 $ 20,976 $ 23,486 Revenue by product category Domestic: Computing and Mobile Phones $ 3,964 $ 4,765 $ 8,249 $ 9,558 Consumer Electronics 2,845 3,380 5,741 6,618 Appliances 1,657 1,688 3,247 3,237 Entertainment 508 560 1,081 1,228 Services 516 570 1,005 1,126 Other 79 48 140 85 Total Domestic revenue $ 9,569 $ 11,011 $ 19,463 $ 21,852 International: Computing and Mobile Phones $ 327 $ 373 $ 671 $ 767 Consumer Electronics 223 250 436 467 Appliances 104 103 175 173 Entertainment 51 57 108 122 Services 37 40 91 75 Other 18 15 32 30 Total International revenue $ 760 $ 838 $ 1,513 $ 1,634
Operating Income by Reportable Segment and Reconciliation to Earnings Before Income Tax Expense	Three Months Ended Six Months Ended July 30, 2022 July 31, 2021 July 30, 2022 July 31, 2021 Domestic $ 343 $ 757 $ 772 $ 1,491 International 28 40 61 75 Total operating income 371 797 833 1,566 Other income (expense): Investment income (loss) and other 3 3 ( 2 ) 6 Interest expense ( 7 ) ( 6 ) ( 13 ) ( 12 ) Earnings before income tax expense and equity in income (loss) of affiliates $ 367 $ 794 $ 818 $ 1,560
Assets by Reportable Segment	July 30, 2022 January 29, 2022 July 31, 2021 Domestic $ 14,272 $ 16,016 $ 17,296 International 1,147 1,488 1,283 Total assets $ 15,419 $ 17,504 $ 18,579

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ in Millions	Jul. 30, 2022	Jan. 29, 2022	Jul. 31, 2021	Jan. 30, 2021
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Cash and cash equivalents	$ 840	$ 2,936	$ 4,340
Restricted cash included in Other current assets	312	269	134
Total cash, cash equivalents and restricted cash	$ 1,152	$ 3,205	$ 4,474	$ 5,625

Restructuring (Narrative) (Deta

Restructuring (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021	Jul. 30, 2022	Jul. 31, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 34	$ 4	$ 35	$ (38)
Termination Benefits [Member] | Mexico Exit And Strategic Realignment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges				$ 44
Termination Benefits [Member] | Resource Optimization Initiative [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges			34
Minimum [Member] | Domestic [Member] | Resource Optimization Initiative [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges			40
Maximum [Member] | Domestic [Member] | Resource Optimization Initiative [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges			65
Continuing Operations [Member] | Resource Optimization Initiative [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges			1
Continuing Operations [Member] | Termination Benefits [Member] | Resource Optimization Initiative [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges			$ 33

Restructuring (Composition of R

Restructuring (Composition of Restructuring Charges) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021	Jul. 30, 2022	Jul. 31, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 34	$ 4	$ 35	$ (44)
Mexico Exit And Strategic Realignment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		4	1	(44)
Mexico Exit And Strategic Realignment [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		4		(44)
Mexico Exit And Strategic Realignment [Member] | Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Inventory markdown				6
Mexico Exit And Strategic Realignment [Member] | Restructuring Charges [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges			237
Mexico Exit And Strategic Realignment [Member] | Domestic [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges				(44)
Mexico Exit And Strategic Realignment [Member] | Domestic [Member] | Restructuring Charges [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges			93
Mexico Exit And Strategic Realignment [Member] | International [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		4
Mexico Exit And Strategic Realignment [Member] | International [Member] | Restructuring Charges [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges			144
Mexico Exit And Strategic Realignment [Member] | Inventory Markdowns [Member] | Cost of Sales [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges				(6)
Mexico Exit And Strategic Realignment [Member] | Inventory Markdowns [Member] | Restructuring Charges [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges			17
Mexico Exit And Strategic Realignment [Member] | Inventory Markdowns [Member] | International [Member] | Cost of Sales [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges				(6)
Mexico Exit And Strategic Realignment [Member] | Inventory Markdowns [Member] | International [Member] | Restructuring Charges [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges			17
Mexico Exit And Strategic Realignment [Member] | Asset Impairments [Member] | Restructuring Charges [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		4	73	7
Mexico Exit And Strategic Realignment [Member] | Asset Impairments [Member] | Domestic [Member] | Restructuring Charges [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges			10
Mexico Exit And Strategic Realignment [Member] | Asset Impairments [Member] | International [Member] | Restructuring Charges [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 4	63	7
Mexico Exit And Strategic Realignment [Member] | Termination Benefits [Member] | Restructuring Charges [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges			102	(45)
Mexico Exit And Strategic Realignment [Member] | Termination Benefits [Member] | Domestic [Member] | Restructuring Charges [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges			83	(44)
Mexico Exit And Strategic Realignment [Member] | Termination Benefits [Member] | International [Member] | Restructuring Charges [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges			19	$ (1)
Mexico Exit And Strategic Realignment [Member] | Currency Translation Adjustment [Member] | Restructuring Charges [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges			39
Mexico Exit And Strategic Realignment [Member] | Currency Translation Adjustment [Member] | International [Member] | Restructuring Charges [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges			39
Mexico Exit And Strategic Realignment [Member] | Other [Member] | Restructuring Charges [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges			6
Mexico Exit And Strategic Realignment [Member] | Other [Member] | International [Member] | Restructuring Charges [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges			6
Resource Optimization Initiative [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 34		$ 34

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Narrative) (Details) - USD ($)	6 Months Ended		12 Months Ended
	Jul. 30, 2022	Jul. 31, 2021	Jan. 29, 2022
Goodwill and Intangible Assets [Abstract]
Goodwill and intangible assets impairment charges	$ 0	$ 0	$ 0

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets (Gross Carrying Amount of Goodwill and Cumulative Goodwill Impairment) (Details) - USD ($) $ in Millions	Jul. 30, 2022	Jan. 29, 2022	Jul. 31, 2021
Goodwill [Line Items]
Gross Carrying Amount	$ 2,060	$ 2,059	$ 1,661
Cumulative Impairment	(675)	(675)	(675)
Domestic [Member]
Goodwill [Line Items]
Gross Carrying Amount	1,452	1,451	1,053
Cumulative Impairment	(67)	(67)	(67)
International [Member]
Goodwill [Line Items]
Gross Carrying Amount	608	608	608
Cumulative Impairment	$ (608)	$ (608)	$ (608)

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets (Definite-Lived Intangible Assets) (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 30, 2022	Jan. 29, 2022	Jul. 31, 2021
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 532	$ 532	$ 476
Accumulated Amortization	$ 301	257	215
Weighted-Average Useful Life Remaining	6 years 9 months 18 days
Customer Relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 360	360	339
Accumulated Amortization	$ 208	180	152
Weighted-Average Useful Life Remaining	7 years 8 months 12 days
Tradename [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 108	108	81
Accumulated Amortization	$ 47	38	31
Weighted-Average Useful Life Remaining	5 years 6 months
Developed Technology [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 64	64	56
Accumulated Amortization	$ 46	$ 39	$ 32
Weighted-Average Useful Life Remaining	2 years 8 months 12 days

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets (Amortization Expense) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021	Jul. 30, 2022	Jul. 31, 2021
Goodwill and Intangible Assets [Abstract]
Amortization expense	$ 22	$ 20	$ 44	$ 40

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets (Amortization Expense Expected to be Recognized) (Details) $ in Millions	Jul. 30, 2022 USD ($)
Goodwill and Intangible Assets [Abstract]
Remainder of fiscal 2023	$ 43
Fiscal 2024	61
Fiscal 2025	21
Fiscal 2026	20
Fiscal 2027	18
Fiscal 2028	12
Thereafter	$ 56

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value, Assets and Liabilities Measured on Recurring Basis) (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Millions	Jul. 30, 2022	Jan. 29, 2022	Jul. 31, 2021
Level 1 [Member] | Time deposits [Member]
Assets
Cash and cash equivalents	$ 1	$ 548	$ 1,113
Other current assets	125
Level 1 [Member] | Interest Rate Swap Derivative Instruments [Member]
Assets
Other assets	48	54	54
Level 2 [Member] | Time deposits [Member]
Assets
Cash and cash equivalents	26	278	625
Other current assets			65
Level 2 [Member] | Interest Rate Swap Derivative Instruments [Member]
Assets
Other assets	$ 19	$ 50	$ 79

Fair Value Measurements (Fair_2

Fair Value Measurements (Fair Value of Financial Instruments) (Details) - USD ($) $ in Millions	Jul. 30, 2022	Jan. 29, 2022	Jul. 31, 2021
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Carrying value	$ 1,169	$ 1,200	$ 1,229
Level 2 [Member] | Debt [Member] | Long-term debt [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	1,069	1,205	1,306
Carrying value	$ 1,169	$ 1,200	$ 1,229

Derivative Instruments (Narrati

Derivative Instruments (Narrative) (Details)	Jul. 30, 2022 USD ($)
Notes due 2028 [Member]
Derivative [Line Items]
Debt Instrument, Face Amount	$ 500,000,000

Derivative Instruments (Notiona

Derivative Instruments (Notional Amount of Derivative Instruments) (Details) - USD ($) $ in Millions	Jul. 30, 2022	Jan. 29, 2022	Jul. 31, 2021
Derivatives, Fair Value [Line Items]
Notional Amount	$ 683	$ 723	$ 655
Derivatives Designated As Net Investment Hedges [Member] | Designated As Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	118	155	109
Interest Rate Swap Derivative Instruments [Member] | Designated As Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	500	500	500
Foreign Exchange Forward Contracts [Member] | Not Designated As Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 65	$ 68	$ 46

Derivative Instruments (Effects

Derivative Instruments (Effects of Interest Rate Derivatives and Adjustments to LTD on Earnings) (Details) - Interest Expense [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021	Jul. 30, 2022	Jul. 31, 2021
Interest Rate Swap Derivative Instruments [Member]
Derivatives, Fair Value [Line Items]
Gain (Loss) Recognized	$ (14)	$ (14)	$ 31	$ 12
Carrying Value Of Long Term Debt [Member]
Derivatives, Fair Value [Line Items]
Gain (Loss) Recognized	$ (14)	$ (14)	$ 31	$ 12

Debt (Narrative) (Short-Term De

Debt (Narrative) (Short-Term Debt) (Details) - USD ($)	6 Months Ended
	Jul. 30, 2022	Jan. 29, 2022	Jul. 31, 2021
Five-Year Facility Agreement [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 1,250,000,000
Debt instrument, term	5 years
Outstanding borrowings	$ 0	$ 0	$ 0
Bank Advance [Member]
Line of Credit Facility [Line Items]
Interest rate	0.14%
Debt Instrument, Face Amount	$ 110,000,000
Notes Due 2030 [Member]
Line of Credit Facility [Line Items]
Interest rate	1.95%

Debt (Schedule of Long-Term Deb

Debt (Schedule of Long-Term Debt) (Details) - USD ($) $ in Millions	Jul. 30, 2022	Jan. 29, 2022	Jul. 31, 2021
Debt Instrument [Line Items]
Total	$ 1,169	$ 1,200	$ 1,229
Debt discounts and issuance costs	(10)	(11)	(12)
Finance lease obligations	40	40	40
Total long-term debt	1,199	1,229	1,257
Less current portion	15	13	14
Total long-term debt, less current portion	1,184	1,216	1,243
Interest Rate Swap Derivative Instruments [Member]
Debt Instrument [Line Items]
Interest rate swap valuation adjustments	19	50	79
Notes due 2028 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 500	500	500
Interest rate	4.45%
Notes Due 2030 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 650	$ 650	$ 650
Interest rate	1.95%

Revenue (Narrative) (Details)

Revenue (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021
Revenue [Abstract]
Revenue recognized	$ 1,089	$ 866

Revenue (Contract Balances and

Revenue (Contract Balances and Changes in Contract Balances) (Details) - USD ($) $ in Millions	Jul. 30, 2022	Jan. 29, 2022	Jul. 31, 2021
Revenue from Contract with Customer [Line Items]
Receivables, net	$ 534	$ 591	$ 528
Short-term contract liabilities included in:
Receivables, allowance for doubtful accounts	21	31	24
Unredeemed Gift Cards [Member]
Short-term contract liabilities included in:
Short-term contract liabilities	273	316	293
Deferred Revenue [Member]
Short-term contract liabilities included in:
Short-term contract liabilities	1,133	1,103	854
Accrued Liability [Member]
Short-term contract liabilities included in:
Short-term contract liabilities	$ 78	$ 83	$ 79

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021	Jul. 30, 2022	Jul. 31, 2021
Earnings per Share [Abstract]
Net earnings	$ 306	$ 734	$ 647	$ 1,329
Weighted-average common shares outstanding (in shares)	225.4	250.2	226.1	251.7
Dilutive effect of stock compensation plan awards (in shares)	0.7	2.6	1.1	3
Weighted-average common shares outstanding, assuming dilution (in shares)	226.1	252.8	227.2	254.7
Potential shares which were anti-dilutive and excluded from weighted-average share computations (in shares)	2.1		1.9
Basic earnings per share	$ 1.36	$ 2.93	$ 2.86	$ 5.28
Diluted earnings per share	$ 1.35	$ 2.90	$ 2.85	$ 5.22

Repurchase of Common Stock (Nar

Repurchase of Common Stock (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021	Jul. 30, 2022	Jul. 31, 2021
Stock Repurchases [Line Items]
Repurchase of common stock	$ 10	$ 416	$ 452	$ 1,331
February 2021 Share Repurchase Program [Member]
Stock Repurchases [Line Items]
Stock Repurchase Program, Authorized Amount	5,000		5,000
February 2022 Share Repurchase Program [Member]
Stock Repurchases [Line Items]
Stock Repurchase Program, Authorized Amount	5,000	$ 5,000	5,000	$ 5,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 4,700		$ 4,700

Repurchase of Common Stock (Sch

Repurchase of Common Stock (Schedule of share repurchases) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021	Jul. 30, 2022	Jul. 31, 2021
Shareholders' Equity [Abstract]
Total cost of shares repurchased	$ 10	$ 416	$ 452	$ 1,331
Average price per share	$ 83.71	$ 112.75	$ 96.83	$ 109.92
Number of shares repurchased	0.1	3.7	4.6	12.1

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 30, 2022	Aug. 16, 2023
Effective Income Tax Rate [Line Items]
Decrease in unrecognized tax benefits	$ 101
Inflation Reduction Act of 2022 | Subsequent Event [Member]
Effective Income Tax Rate [Line Items]
Percent of minimum tax on book income		15%
Percent of excise tax on net stock repurchases		1%

Segments (Revenue by Reportable

Segments (Revenue by Reportable Segment and Product Category) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021	Jul. 30, 2022	Jul. 31, 2021
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 10,329	$ 11,849	$ 20,976	$ 23,486
Domestic Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	9,569	11,011	19,463	21,852
Domestic Segment [Member] | Computing and Mobile Phones [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	3,964	4,765	8,249	9,558
Domestic Segment [Member] | Consumer Electronics [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	2,845	3,380	5,741	6,618
Domestic Segment [Member] | Appliances [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	1,657	1,688	3,247	3,237
Domestic Segment [Member] | Entertainment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	508	560	1,081	1,228
Domestic Segment [Member] | Services [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	516	570	1,005	1,126
Domestic Segment [Member] | Other [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	79	48	140	85
International Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	760	838	1,513	1,634
International Segment [Member] | Computing and Mobile Phones [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	327	373	671	767
International Segment [Member] | Consumer Electronics [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	223	250	436	467
International Segment [Member] | Appliances [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	104	103	175	173
International Segment [Member] | Entertainment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	51	57	108	122
International Segment [Member] | Services [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	37	40	91	75
International Segment [Member] | Other [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 18	$ 15	$ 32	$ 30

Segments (Operating Income by R

Segments (Operating Income by Reportable Segment and Reconciliation to Earnings Before Income Tax Expense) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021	Jul. 30, 2022	Jul. 31, 2021
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income	$ 371	$ 797	$ 833	$ 1,566
Investment income (loss) and other	3	3	(2)	6
Interest expense	(7)	(6)	(13)	(12)
Earnings before income tax expense and equity in income of affiliates	367	794	818	1,560
Domestic Segment [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income	343	757	772	1,491
International Segment [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income	$ 28	$ 40	$ 61	$ 75

Segments (Assets by Reportable

Segments (Assets by Reportable Segment) (Details) - USD ($) $ in Millions	Jul. 30, 2022	Jan. 29, 2022	Jul. 31, 2021
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 15,419	$ 17,504	$ 18,579
Domestic Segment [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	14,272	16,016	17,296
International Segment [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 1,147	$ 1,488	$ 1,283