Foot Locker (FL) 10-Q8 Dec 212021 Q3 Quarterly reportFinancial data

Company Profile

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Oct. 30, 2021	Dec. 03, 2021
Document And Entity Information [Abstract]
Document Type	10-Q
Document Period End Date	Oct. 30, 2021
Entity File Number	1-10299
Entity Registrant Name	FOOT LOCKER, INC.
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	13-3513936
Entity Address, Address Line One	330 West 34th Street
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10001
City Area Code	212
Local Phone Number	720-3700
Title of 12(b) Security	Common Stock
Security Exchange Name	NYSE
Entity Current Reporting Status	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		100,368,462
Entity Central Index Key	0000850209
Current Fiscal Year End Date	--01-29
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false
Trading Symbol	FL
Entity Interactive Data Current	Yes
Document Quarterly Report	true
Document Transition Report	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Oct. 30, 2021	Jan. 30, 2021	[1]	Oct. 31, 2020
Current assets:
Cash and cash equivalents	$ 1,339	$ 1,680		$ 1,393
Merchandise inventories	1,301	923		1,193
Other current assets	253	232		237
Assets, current, total	2,893	2,835		2,823
Property and equipment, net	860	788		773
Operating lease right-of-use assets	2,619	2,716		2,752
Deferred taxes	95	101		69
Goodwill	651	159		158
Other intangible assets, net	235	17		18
Minority investments	762	337		340
Other assets	96	90		85
Total assets	8,211	7,043		7,018
Current liabilities:
Accounts payable	578	402		514
Accrued and other liabilities	498	560		451
Current portion of obligations under finance leases	104	102		2
Operating lease liabilities classified as current	577	580		575
Liabilities, current, total	1,757	1,644		1,542
Long-term debt and obligations under finance leases	456	8		129
Long-term lease obligations	2,421	2,499		2,514
Other liabilities	235	116		181
Total liabilities	4,869	4,267		4,366
Shareholders' equity:
Common stock and paid-in capital: 104,515,702; 104,391,691; and 103,693,359 shares issued, respectively	806	779		777
Retained earnings	3,044	2,326		2,245
Accumulated other comprehensive loss	(343)	(331)		(365)
Less: Treasury stock at cost: 714,490; 426; and 74,236 shares, respectively	(170)	(3)		(11)
Noncontrolling interest	5	5		6
Total shareholders' equity	3,342	2,776		2,652
Liabilities and equity, total	$ 8,211	$ 7,043		$ 7,018

[1]	The balance sheet at January 30, 2021 has been derived from the previously reported audited consolidated financial statements at that date, but does not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. For further information, refer to the consolidated financial statements and footnotes thereto included in Foot Locker, Inc.’s Annual Report on Form 10-K for the year ended January 30, 2021.

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares	Oct. 30, 2021	Jan. 30, 2021	Oct. 31, 2020
CONSOLIDATED BALANCE SHEETS [Abstract]
Common Stock, Shares Outstanding, Issued, Total	104,541,760	103,693,359	104,451,566
Treasury Stock, Shares	3,473,932	74,236	326,727

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Sales	$ 2,189	$ 2,106	$ 6,617	$ 5,359
Cost of sales	1,429	1,456	4,310	3,900
Selling, general and administrative expenses	458	424	1,326	1,127
Depreciation and amortization	49	44	142	132
Impairment and other charges	57	4	97	58
Income from operations	196	178	742	142
Interest (expense) income, net	(4)	(2)	(8)	(5)
Other income, net	30	193	359	197
Income before income taxes	222	369	1,093	334
Income tax expense	64	104	303	134
Net income	$ 158	$ 265	$ 790	$ 200
Basic earnings per share	$ 1.53	$ 2.54	$ 7.63	$ 1.92
Weighted-average shares outstanding	103.2	104.4	103.5	104.4
Diluted earnings per share	$ 1.52	$ 2.52	$ 7.54	$ 1.91
Weighted-average shares outstanding, assuming dilution	104.4	105.3	104.9	105.1

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
Net Income (loss)	$ 158	$ 265	$ 790	$ 200
Foreign currency translation adjustment:
Translation adjustment arising during the period, net of income tax expense of $-, $4, $1, and $2, respectively	(7)		(17)	20
Cash flow hedges:
Change in fair value of derivatives, net of income tax expense of $-, $-, $-, and $1, respectively	1		1	3
Pension and postretirement adjustments:
Amortization of net actuarial gain/loss and prior service cost included in net periodic benefit costs, net of income tax expense of $-, $1, $1, and $2, respectively	1	2	4	6
Comprehensive income (loss)	$ 153	$ 267	$ 778	$ 229

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Oct. 30, 2021	Oct. 30, 2021	Oct. 31, 2020
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
Net income tax benefit on translation adjustment	$ 2	$ 1	$ 2
Change in fair value of derivatives, income tax benefit			1
Amortization of net actuarial gain/loss and prior service cost included in net periodic benefit costs, income tax expense	$ 1	$ 2	$ 2

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Millions	Additional Paid-In Capital & Common Stock	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Loss	Noncontrolling Interest [Member]	Total
Cumulative effect of the adoption new ASUs	$ 764		$ 2,103	$ (394)		$ 2,473
Beginning Balance at Feb. 01, 2020	$ 764		2,103	(394)		2,473
Beginning Balance (in shares) at Feb. 01, 2020	104,188,000
Restricted stock issued (in shares)	120,000
Issued under director and stock plans	$ 4					4
Issued under director and stock plans (in shares)	144,000
Share-based compensation expense	$ 9					9
Shares of common stock used to satisfy tax withholding obligations		$ (1)				(1)
Shares of common stock used to satisfy tax withholding obligations (in shares)		(42,000)
Share repurchases		$ (10)				(10)
Share repurchases (in shares)		(308,000)
Reissued - employee stock purchase plan					$ 6	6
Reissued - employee stock purchase plan (in shares)		23,000
Net Income (loss)			200			200
Cash dividends declared on common stock			(58)			(58)
Translation adjustment, net of tax				20		20
Change in cash flow hedges, net of tax				3		3
Pension and postretirement adjustments, net of tax				6		6
Ending Balance at Oct. 31, 2020	$ 777	$ (11)	2,245	(365)	6	$ 2,652
Ending Balance (in shares) at Oct. 31, 2020	104,452,000					104,451,566
Ending Balance (in treasury shares) at Oct. 31, 2020		(327,000)				(326,727)
Cumulative effect of the adoption new ASUs	$ 774		1,996	(367)		$ 2,403
Beginning Balance at Aug. 01, 2020	$ 774		1,996	(367)		2,403
Beginning Balance (in shares) at Aug. 01, 2020	104,392,000
Restricted stock issued (in shares)	53,000
Issued under director and stock plans	$ 1					1
Issued under director and stock plans (in shares)	7,000
Share-based compensation expense	$ 2					2
Shares of common stock used to satisfy tax withholding obligations		$ (1)				(1)
Shares of common stock used to satisfy tax withholding obligations (in shares)		(19,000)
Share repurchases		$ (10)				(10)
Share repurchases (in shares)		(308,000)
Net Income (loss)			265			265
Cash dividends declared on common stock			(16)			(16)
Noncontrolling interest acquired					6	6
Pension and postretirement adjustments, net of tax				2		2
Ending Balance at Oct. 31, 2020	$ 777	$ (11)	2,245	(365)	6	$ 2,652
Ending Balance (in shares) at Oct. 31, 2020	104,452,000					104,451,566
Ending Balance (in treasury shares) at Oct. 31, 2020		(327,000)				(326,727)
Cumulative effect of the adoption new ASUs	$ 777	$ (11)	2,245	(365)	6	$ 2,652
Cumulative effect of the adoption new ASUs	779	(3)	2,326	(331)	5	2,776	[1]
Beginning Balance at Jan. 30, 2021	$ 779	$ (3)	2,326	(331)	5	$ 2,776	[1]
Beginning Balance (in shares) at Jan. 30, 2021	103,693,000					103,693,359
Beginning Balance (in treasury shares) at Jan. 30, 2021		(74,000)				(74,236)
Restricted stock issued (in shares)	498,000
Issued under director and stock plans	$ 11					$ 11
Issued under director and stock plans (in shares)	351,000
Share-based compensation expense	$ 23					23
Shares of common stock used to satisfy tax withholding obligations		$ (11)				(11)
Shares of common stock used to satisfy tax withholding obligations (in shares)		(205,000)
Share repurchases		$ (170)				(170)
Share repurchases (in shares)		(3,496,000)
Reissued - employee stock purchase plan	(7)	$ 14				7
Reissued - employee stock purchase plan (in shares)		301,000
Net Income (loss)			790			790
Cash dividends declared on common stock			(72)			(72)
Translation adjustment, net of tax				(17)		(17)
Change in cash flow hedges, net of tax				1		1
Pension and postretirement adjustments, net of tax				4		4
Ending Balance at Oct. 30, 2021	$ 806	$ (170)	3,044	(343)	5	$ 3,342
Ending Balance (in shares) at Oct. 30, 2021	104,542,000					104,541,760
Ending Balance (in treasury shares) at Oct. 30, 2021		(3,474,000)				(3,473,932)
Cumulative effect of the adoption new ASUs	$ 799	$ (41)	2,916	(338)	5	$ 3,341
Beginning Balance at Jul. 31, 2021	$ 799	$ (41)	2,916	(338)	5	3,341
Beginning Balance (in shares) at Jul. 31, 2021	104,516,000
Beginning Balance (in treasury shares) at Jul. 31, 2021		(714,000)
Restricted stock issued (in shares)	19,000
Issued under director and stock plans (in shares)	7,000
Share-based compensation expense	$ 7					7
Shares of common stock used to satisfy tax withholding obligations (in shares)		(10,000)
Share repurchases		$ (129)				(129)
Share repurchases (in shares)		(2,750,000)
Net Income (loss)			158			158
Cash dividends declared on common stock			(30)			(30)
Translation adjustment, net of tax				(7)		(7)
Change in cash flow hedges, net of tax				1		1
Pension and postretirement adjustments, net of tax				1		1
Ending Balance at Oct. 30, 2021	$ 806	$ (170)	3,044	(343)	5	$ 3,342
Ending Balance (in shares) at Oct. 30, 2021	104,542,000					104,541,760
Ending Balance (in treasury shares) at Oct. 30, 2021		(3,474,000)				(3,473,932)
Cumulative effect of the adoption new ASUs	$ 806	$ (170)	$ 3,044	$ (343)	$ 5	$ 3,342

[1]	The balance sheet at January 30, 2021 has been derived from the previously reported audited consolidated financial statements at that date, but does not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. For further information, refer to the consolidated financial statements and footnotes thereto included in Foot Locker, Inc.’s Annual Report on Form 10-K for the year ended January 30, 2021.

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
Statement of Stockholders' Equity [Abstract]
Cash dividends declared on common stock, per share	$ 0.30	$ 0.15	$ 0.70	$ 0.55

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020
From operating activities:
Net Income (loss)	$ 790	$ 200
Adjustments to reconcile net income to net cash provided by operating activities:
Non-cash impairment and other charges	88	32
Non-cash gain	(340)	(190)
Depreciation and amortization	142	132
Deferred income taxes	57	73
Share-based compensation expense	23	9
Change in assets and liabilities:
Merchandise inventories	(306)	13
Accounts payable	122	177
Accrued and other liabilities	16	122
Insurance receivable for inventory loss	8
Other, net	(102)	104
Net cash provided by (used in) operating activities	498	672
From investing activities:
Purchase of business, net of cash acquired	(737)
Capital expenditures	(137)	(116)
Minority investments	(115)	(8)
Proceeds from sale of property	3
Insurance proceeds related to loss on property and equipment	3
Net cash used in investing activities	(983)	(124)
From financing activities:
Proceeds from issuance of debt	395
Purchase of treasury shares	(170)	(10)
Contribution from non-controlling interest		6
Dividends paid on common stock	(72)	(58)
Proceeds from exercise of stock options	10
Proceeds from common stock issued under employee stock plans		2
Treasury stock reissued under employee stock plan	7
Shares of common stock repurchased to satisfy tax withholding obligations	(11)	(1)
Payment of obligations under finance leases	(3)
Payment of revolving credit agreement costs	(2)	(4)
Proceeds from the revolving credit facility		330
Repayment of the revolving credit facility		(330)
Net cash (used in) provided by financing activities	154	(65)
Effect of exchange rate fluctuations on cash, cash equivalents, and restricted cash	(2)	5
Net change in cash, cash equivalents, and restricted cash	(333)	488
Cash, cash equivalents, and restricted cash at beginning of year	1,718	942
Cash, cash equivalents, and restricted cash at end of period	1,385	1,430
Cash paid during the year:
Interest	7	8
Income taxes	313	55
Cash paid for amounts included in measurement of operating lease liabilities:	527	445
Non-cash investing and financing activities:
Right-of-use assets obtained in exchange for lease obligations:	242	212
Assets obtained in exchange for finance lease obligations	$ 4	$ 11

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Oct. 30, 2021
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	1. Summary of Significant Accounting Policies Basis of Presentation The accompanying condensed consolidated financial statements contained in this report are unaudited. In the opinion of management, the condensed consolidated financial statements include all normal, recurring adjustments necessary for a fair presentation of the results for the interim periods presented. As used in these Notes to the Unaudited Condensed Consolidated Financial Statements, the terms “Foot Locker,” “Company,” “we,” “our,” and “us” refer to Foot Locker, Inc. and its consolidated subsidiaries. The preparation of financial statements in accordance with U.S. generally accepted accounting principles requires us to make estimates and assumptions that affect the amounts reported in the accompanying Unaudited Condensed Consolidated Financial Statements and these Notes and related disclosures. Actual results may differ from those estimates. The results of operations for any interim period are not necessarily indicative of the results expected for the year. The results of operations for the period ended October 30, 2021 are not necessarily indicative of the results to be expected for the full fiscal year due to the continued uncertainty of general economic conditions that may affect us for the remainder of 2021. Specifically, the ongoing pandemic (“COVID-19”), including the dissemination and adoption of COVID-19 vaccines and their effectiveness against COVID-19 and its evolving strains, some of which may be more transmissible or virulent than the initial strain or additional widespread resurgences in COVID-19 infections, including evolving safety protocols including requirements for proof of vaccination, are significant uncertainties. COVID-19, as well as port delays, may affect our sales, traffic to our stores, our distribution capabilities, and distribution capabilities of our suppliers. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the Notes to Consolidated Financial Statements contained in our 2020 Form 10-K. There were no significant changes to the policies disclosed in Note 1, Summary of Significant Accounting Policies Recent Accounting Pronouncements Recently issued accounting pronouncements did not, or are not believed by management to, have a material effect on our present or future consolidated financial statements.

Acquisition

Acquisition	9 Months Ended
Acquisition	Oct. 30, 2021
Business Combinations [Abstract]
Acquisition	2. Acquisition Effective September 18, 2021, the Company, through its wholly-owned subsidiary Foot Locker Retail, Inc., acquired 100 percent of the shares of Eurostar, Inc., a Delaware corporation operating as WSS (“WSS”). WSS is a U.S.-based off-mall athletic footwear and apparel retailer, focused on the Hispanic consumer, which operates 93 stores primarily on the West Coast. The aggregate purchase price paid for the acquisition was $807 million ($737 million, net of cash acquired), subject to adjustment for finalization of the value of the net assets acquired and was funded with available cash. We believe that this acquisition enhances our growth opportunities in North America and creates further diversification and differentiation in terms of both customers and products. The results of WSS are included in our consolidated financial statements since the acquisition date. The table on the following page summarizes the preliminary allocation of the purchase price to the fair value of assets acquired. The allocation of the purchase price shown in the table below is preliminary and subject to change based on the finalization of our detailed valuations, including the valuations of WSS tradename, private label tradenames, customer lists, other intangibles, and leases. ($ in millions) Assets acquired: Cash and cash equivalents $ 70 Merchandise inventories 80 Other current assets 10 Property and equipment, net 116 Operating lease right-of-use assets 143 WSS tradename 220 Other assets 4 Liabilities assumed: Accounts payable $ (58) Current portion of obligations under finance leases (3) Current portion of lease obligations (20) Long-term portion of obligations under finance leases (53) Long-term lease obligations (134) Deferred taxes (58) Other liabilities (4) Goodwill 494 Total purchase price $ 807 We determined that the WSS tradename will have an indefinite life and will not be amortized. The proforma effects of the acquisition have not been presented, as their effects were not significant to the consolidated results of operations.

Revenue

Revenue	9 Months Ended
Revenue	Oct. 30, 2021
Revenue [Abstract]
Revenue	3. Revenue The table below presents sales disaggregated based upon sales channel. Sales are attributable to the channel in which the sales transaction is initiated. Thirteen weeks ended Thirty-nine weeks ended October 30, October 31, October 30, October 31, ($ in millions) 2021 2020 2021 2020 Sales by Channel Stores $ 1,756 $ 1,656 $ 5,193 $ 3,858 Direct-to-customers 433 450 1,424 1,501 Total sales $ 2,189 $ 2,106 $ 6,617 $ 5,359 Sales disaggregated based upon geographic area is presented in the table below. Sales are attributable to the geographic area in which the sales transaction is fulfilled. Thirteen weeks ended Thirty-nine weeks ended October 30, October 31, October 30, October 31, ($ in millions) 2021 2020 2021 2020 Sales by Geography United States $ 1,524 $ 1,534 $ 4,860 $ 3,974 International 665 572 1,757 1,385 Total sales $ 2,189 $ 2,106 $ 6,617 $ 5,359 Contract Liabilities We sell gift cards, which do not have expiration dates. Revenue from gift card sales is recorded when the gift cards are redeemed by customers. Breakage income is recognized as revenue in proportion to the pattern of rights exercised by the customer . The table below presents the activity of our gift card liability balance. October 30, October 31, ($ in millions) 2021 2020 Gift card liability at beginning of year $ 41 $ 35 Liabilities acquired - WSS 1 — Redemptions (187) (70) Breakage recognized in sales (13) (5) Activations 192 69 Foreign currency fluctuations — 1 Gift card liability $ 34 $ 30 We elected not to disclose the information about remaining performance obligations since the amount of gift cards redeemed after 12 months is not significant.

Segment Information

Segment Information	9 Months Ended
Segment Information	Oct. 30, 2021
Segment Information [Abstract]
Segment Information	4. Segment Information We have integrated all available shopping channels including stores, websites, apps, social channels, and catalogs. Store sales are primarily fulfilled from the store’s inventory, but may also be shipped from any of our distribution centers or from a different store location if an item is not available at the original store. Direct-to-customer orders are generally shipped to our customers through our distribution centers but may also be shipped from any store or a combination of our distribution centers and stores depending on availability. We evaluate performance based on several factors, primarily the banner’s financial results, referred to as division profit. Division profit reflects income before income taxes, impairment and other charges, corporate expense, non-operating income, and net interest expense. Thirteen weeks ended Thirty-nine weeks ended October 30, October 31, October 30, October 31, ($ in millions) 2021 2020 2021 2020 Sales $ 2,189 $ 2,106 $ 6,617 $ 5,359 Operating Results Division profit 283 198 930 244 Less: Impairment and other charges (1) 57 4 97 58 Less: Corporate expense (2) 30 16 91 44 Income from operations 196 178 742 142 Interest expense, net (4) (2) (8) (5) Other income, net 30 193 359 197 Income before income taxes $ 222 $ 369 $ 1,093 $ 334 (1) During the thirty-nine weeks ended October 30, 2021, we recorded pre-tax charges as detailed in Note 5, Impairment and Other Charges . (2) Corporate expense consists of unallocated selling, general and administrative expenses, as well as depreciation and amortization related to our corporate headquarters, centrally managed departments, unallocated insurance and benefit programs, certain foreign exchange transaction gains and losses, and other items.

Impairment and Other Charges

Impairment and Other Charges	9 Months Ended
Impairment and Other Charges	Oct. 30, 2021
Impairment and Other Charges [Abstract]
Impairment and Other Charges	5. Impairment and Other Charges Thirteen weeks ended Thirty-nine weeks ended October 30, October 31, October 30, October 31, ($ in millions) 2021 2020 2021 2020 Impairment of long-lived assets and right-of-use assets $ 13 $ — $ 52 $ 15 Impairment of investments 30 — 32 — Acquisition and integration costs 14 — 14 — Lease termination costs — — 4 — Reorganization costs — — 2 3 (Insurance recovery)/ losses related to social unrest — 1 (7) 19 Runners Point shut down — 3 — 19 Pension litigation related charges — — — 2 Total impairment and other charges $ 57 $ 4 $ 97 $ 58 Impairment of long-lived assets and right-of-use assets was $13 million and $52 million for the thirteen and thirty-nine weeks ended October 30, 2021, respectively, and $15 million for the thirty-nine weeks ended October 31, 2020. During the second quarter of 2021, we conducted an impairment review of Footaction stores as a result of our decision to convert part of the stores to other existing banner concepts and close the remaining stores. We evaluated the long-lived assets, including the right-of-use assets and recorded non-cash charges to write down store fixtures, leasehold improvements, and right-of-use assets for approximately 60 locations, and accelerated tenancy charges for leases we expect to terminate prior to the end of the lease term. In connection with this, we recorded charges totaling $39 million and $13 million for the second and third quarters, respectively. The prior year charges of $15 million related to certain Runners Point and Sidestep stores and other underperforming stores in Europe. Impairment of investments was $30 million and $32 million for the thirteen and thirty-nine weeks ended October 30, 2021, respectively. During the third quarter of 2021, due to continued losses and updated and estimates of value for one of the Company’s minority investments, we recorded a non-cash write down of one of our minority investments. The thirty-nine weeks ended October 30, 2021 included a charge of $2 million related to another of our minority investments. In connection with the acquisitions, we recorded acquisition and integration costs of $14 million, which primarily represented investment banking fees related to the WSS acquisition. Additionally, during the thirty-nine weeks ended October 30, 2021, we recorded charges of $4 million primarily in other lease-related termination costs and charges of $2 million related to previously disclosed reorganization of certain support functions. The thirty-nine weeks ended October 31, 2020 included $3 million of reorganization costs and $2 million related to administrative costs associated with the pension plan reformation. For the thirteen and thirty-nine weeks ended October 31, 2020, we recorded $1 million and $19 million of costs and losses related to social unrest, respectively, and $3 million and $19 million, respectively, of charges related to the shutdown of the Runners Point business. Partially offsetting these losses and charges was $11 million of additional insurance recovery recorded, $7 million of which is classified in impairment and other charges as it relates to the book value of property losses recorded in 2020.

Cash, Cash Equivalents, and Res

Cash, Cash Equivalents, and Restricted Cash	9 Months Ended
Cash, Cash Equivalents, and Restricted Cash	Oct. 30, 2021
Restricted Cash [Abstract]
Cash, Cash Equivalents, and Restricted Cash	6. Cash, Cash Equivalents, and Restricted Cash The table below provides a reconciliation of cash and cash equivalents, as reported on our Condensed Consolidated Balance Sheets, to cash, cash equivalents, and restricted cash, as reported on our Condensed Consolidated Statements of Cash Flows. October 30, October 31, ($ in millions) 2021 2020 Cash and cash equivalents $ 1,339 $ 1,393 Restricted cash included in other current assets 9 8 Restricted cash included in other non-current assets 37 29 Cash, cash equivalents, and restricted cash $ 1,385 $ 1,430 Amounts included in restricted cash primarily relate to amounts held in escrow in connection with various leasing arrangements in Europe and deposits held in insurance trusts to satisfy the requirement to collateralize part of the self-insured workers’ compensation and liability claims.

Goodwill

Goodwill	9 Months Ended
Goodwill	Oct. 30, 2021
Goodwill and Other Intangible Assets, Net [Abstract]
Goodwill	7. Goodwill Goodwill as of October 30, 2021 included $494 million related to the acquisition of WSS. We review goodwill for impairment annually during the first quarter of each fiscal year, or more frequently if impairment indicators arise. The review of impairment consists of either using a qualitative approach to determine whether it is more likely than not that the fair value of the assets is less than their respective carrying values or a one-step quantitative impairment test. The results of the first quarter analysis did not result in an impairment since the fair value of each reporting unit exceeded its carrying value.

Other Intangible Assets, Net

Other Intangible Assets, Net	9 Months Ended
Other Intangible Assets, Net	Oct. 30, 2021
Goodwill and Other Intangible Assets, Net [Abstract]
Other Intangible Assets, Net	8. Other Intangible Assets, net The components of finite-lived intangible assets and intangible assets not subject to amortization are as follows: October 30, 2021 October 31, 2020 Gross Accum. Net Gross Accum. Net ($ in millions) value amort. value value amort. value Amortized intangible assets: (1) Lease acquisition costs $ 112 $ (108) $ 4 $ 119 $ (113) $ 6 Trademarks / trade names 20 (18) 2 20 (17) 3 $ 132 $ (126) $ 6 $ 139 $ (130) $ 9 Indefinite life intangible assets: (1) Trademarks / trade names $ 229 $ 9 Other intangible assets, net $ 235 $ 18 (1) The change in the ending balances also reflects the effect of foreign currency fluctuations due primarily to movements of the euro in relation to the U.S. dollar. The annual review of intangible assets with indefinite lives performed during the first quarter of 2021 did not result in the recognition of impairment. In connection with the preliminary allocation of the purchase price of WSS, we recognized a $220 million indefinite life intangible asset for the WSS tradename. Amortization expense recorded is as follows: Thirteen weeks ended Thirty-nine weeks ended October 30, October 31, October 30, October 31, ($ in millions) 2021 2020 2021 2020 Amortization expense $ — $ — $ 2 $ 2 Estimated future amortization expense for finite-life intangible assets is as follows: ($ in millions) Remainder of 2021 $ 1 2022 3 2023 1 2024 1

Revolving Credit Facility

Revolving Credit Facility	9 Months Ended
Revolving Credit Facility	Oct. 30, 2021
Revolving Credit Facility [Abstract]
Revolving Credit Facility	9. Revolving Credit Facility On May 19, 2021, we entered into an amendment to the 2020 Credit Agreement (“Amended Credit Agreement”). The amendment provides for, among other things, (i) reducing the interest rates and commitment fees applicable to the loans and commitments, respectively, as described below, and (ii) reducing the “floor” applicable. The amendment provides that the interest rate applicable to loans drawn under the credit facility will be equal to, at our option, either a base rate, determined by reference to the federal funds rate, plus a margin of 0.25 percent to 0.75 percent per annum, or a Eurodollar rate, determined by reference to LIBOR, plus a margin of 1.25 percent to 1.75 percent per annum, in each case, depending on availability under the Amended Credit Agreement. In addition, we will pay a commitment fee of 0.25 percent per annum on the unused portion of the commitments under the Amended Credit Agreement. On October 1, 2021, WSS became a party to, and bound by the terms of the Amended Credit Agreement and other applicable Loan Documents (as defined in the Amended Credit Agreement) as guarantor.

Long-Term Debt

Long-Term Debt	9 Months Ended
Long-Term Debt	Oct. 30, 2021
Long-Term Debt [Abstract]
Long-Term Debt	10. Long-Term Debt On October 5, 2021, Foot Locker, Inc. completed the sale of $400 million aggregate principal amount of its 4 percent Senior Notes due 2029 (the “Notes”). We received net proceeds from the offering of $395 million, after deducting the initial purchasers’ discount. The proceeds will be used for general corporate purposes. The Notes were issued pursuant to an indenture, dated as of October 5, 2021 (the “Indenture”), by and among the Company, certain guarantors from time to time party thereto, and U.S. Bank National Association, as trustee. The Notes are the senior unsecured, unsubordinated obligations of the Company and are guaranteed, jointly and severally, by the Company’s current and, subject to certain exceptions, future subsidiaries that guarantee the Company’s secured revolving credit facility or certain other debt of the Company or the guarantors. The Notes will mature on October 1, 2029. Interest will accrue from October 5, 2021 and will be payable semi-annually in arrears on April 1 and October 1 of each year, commencing on April 1, 2022. We incurred debt issuance costs of $1 million, which reduces the carrying value of debt and will be amortized in interest expense through the maturity date. The Indenture includes various provisions involving limitations, early redemption scenarios, and potential change of control. It also includes customary events of default, including (subject in certain cases to customary grace and cure periods) nonpayment of principal or interest; breach of other agreements in the Indenture; failure to pay certain other indebtedness; certain events of bankruptcy, insolvency, or reorganization; failure to pay certain final judgments; and failure of certain guarantees to be enforceable.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
Accumulated Other Comprehensive Loss	Oct. 30, 2021
Accumulated Other Comprehensive Loss [Abstract]
Comprehensive Income (Loss) Note [Text Block]	11. Accumulated Other Comprehensive Loss Accumulated other comprehensive loss (“AOCL”), net of tax, is comprised of the following: October 30, October 31, January 30, ($ in millions) 2021 2020 2021 Foreign currency translation adjustments $ (81) $ (84) $ (64) Cash flow hedges — — (1) Unrecognized pension cost and postretirement benefit (262) (281) (266) $ (343) $ (365) $ (331) The changes in AOCL for the thirty-nine weeks ended October 30, 2021 were as follows: Foreign Items Related Currency to Pension and Translation Cash Flow Postretirement ($ in millions) Adjustments Hedges Benefits Total Balance as of January 30, 2021 $ (64) $ (1) $ (266) $ (331) OCI before reclassification (17) 1 (2) (18) Amortization of pension actuarial loss, net of tax — — 6 6 Other comprehensive income (17) 1 4 (12) Balance as of October 30, 2021 $ (81) $ — $ (262) $ (343) Reclassifications from AOCL for the thirty-nine weeks ended October 30, 2021 were as follows: ($ in millions) Amortization of actuarial loss: Pension benefits $ 8 Income tax benefit (2) Total, net of tax $ 6

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Oct. 30, 2021
Fair Value Measurements [Abstract]
Fair Value Measurements	12. Fair Value Measurements Our financial assets are recorded at fair value, using a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. The three levels of inputs used to measure fair value are categorized as follows: Level 1 – Quoted prices for identical instruments in active markets. Level 2 – Observable inputs other than quoted prices included within Level 1, including quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs or significant value-drivers are observable in active markets. Level 3 – Model-derived valuations in which one or more significant inputs or significant value-drivers are unobservable. During the second quarter of 2021, we invested $68 million to take a common stock minority stake in a public entity, Retailors, Ltd, which is traded on the Tel Aviv stock exchange. Our investment was at a discount to the initial public offering price. This investment is classified as a Level 1 instrument since the fair value is readily available in an active market. The fair value of the auction rate security, classified as available-for-sale, is determined by using quoted prices for similar instruments in active markets and accordingly is classified as a Level 2 instrument. Our derivative financial instruments are valued using market-based inputs to valuation models. These valuation models require a variety of inputs, including contractual terms, market prices, yield curves, and measures of volatility and, therefore, are classified as Level 2 instruments. Assets and Liabilities Measured at Fair Value on a Recurring Basis ($ in millions) As of October 30, 2021 As of October 31, 2020 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets Minority investment in common stock 118 — — — — — Available-for-sale security — 7 — — 7 — Total Assets $ 118 $ 7 $ — $ — $ 7 $ — Liabilities Foreign exchange forward contracts — 1 — — — — Total Liabilities $ — $ 1 $ — $ — $ — $ — There were no transfers into or out of Level 1, Level 2, or Level 3 assets and liabilities for any of the periods presented. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Assets and liabilities recognized or disclosed at fair value on the consolidated financial statements on a nonrecurring basis include items such as property, plant and equipment, operating lease right-of-use assets, goodwill, other intangible assets, and minority investments that are not accounted for under the equity method of accounting. These assets are measured using Level 3 inputs, if determined to be impaired. Minority investments measured using the fair value measurement alternative had a carrying value of $618 million and $326 million as of October 30, 2021 and October 31, 2020, respectively. During the second quarter of 2021, we recorded a $290 million increase in the fair value of our minority investment in GOAT. GOAT received additional funding at a higher valuation than the investment amount previously on our balance sheet. During the thirty-nine weeks ended October 30, 2021, we recorded non-cash charges of $32 million related to the write-down of two of our minority investments, resulting in $43 million of cumulative impairments. Long-Term Debt The fair value of long-term debt is determined by using model-derived valuations in which all significant inputs or significant value drivers are observable in active markets and, therefore, are classified as Level 2. The balance as of October 30, 2021 includes the $400 million Notes issued during the third quarter. The carrying value and estimated fair value of long-term debt were as follows: ($ in millions) October 30, 2021 October 31, 2020 Carrying value (1) $ 492 $ 120 Fair value $ 497 $ 129 (1) The carrying value of debt as of October 30, 2021 reflects $6 million of issuer’s discount and costs related to the Senior Notes due 2029. The carrying values of cash and cash equivalents, and other current receivables and payables approximate their fair value.

Earnings Per Share

Earnings Per Share	9 Months Ended
Earnings Per Share	Oct. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share	13. Earnings Per Share We account for earnings per share (“EPS”) using the treasury stock method. Basic EPS is computed by dividing net income for the period by the weighted-average number of common shares outstanding at the end of the period. Diluted earnings per share reflects the weighted-average number of common shares outstanding during the period used in the basic EPS computation plus dilutive common stock equivalents. The computation of diluted earnings per share does not assume conversion, exercise, or contingent issuance of securities that would have an anti-dilutive effect on EPS. The computation of basic and diluted EPS is as follows: Thirteen weeks ended Thirty-nine weeks ended October 30, October 31, October 30, October 31, (in millions, except per share data) 2021 2020 2021 2020 Net income $ 158 $ 265 $ 790 $ 200 Weighted-average common shares outstanding 103.2 104.4 103.5 104.4 Dilutive effect of potential common shares 1.2 0.9 1.4 0.7 Weighted-average common shares outstanding assuming dilution 104.4 105.3 104.9 105.1 Earnings per share - basic $ 1.53 $ 2.54 $ 7.63 $ 1.92 Earnings per share - diluted $ 1.52 $ 2.52 $ 7.54 $ 1.91 Anti-dilutive share-based awards excluded from diluted calculation 1.8 2.5 1.8 2.7 Performance stock units related to our long-term incentive programs of 0.5 million and 0.5 million have been excluded from diluted weighted-average shares for the periods ended October 30, 2021 and October 31, 2020, respectively. The issuance of these shares are contingent on our performance metrics as compared to the pre-established performance goals, which have not been achieved.

Pension

Pension	9 Months Ended
Pension	Oct. 30, 2021
Retirement Plans and Other Benefits [Abstract]
Retirement Plans and Other Benefits	14. Pension The components of net periodic pension benefit expense are presented in the table below. Service cost is recognized as part of SG&A expense, while the other components are recognized as part of Other income, net. Thirteen weeks ended Thirty-nine weeks ended October 30, October 31, October 30, October 31, ($ in millions) 2021 2020 2021 2020 Service cost $ 4 $ 3 $ 12 $ 10 Interest cost 4 5 13 16 Expected return on plan assets (9) (9) (26) (28) Amortization of net loss 3 3 8 9 Net benefit expense $ 2 $ 2 $ 7 $ 7

Share-Based Compensation

Share-Based Compensation	9 Months Ended
Share-Based Compensation	Oct. 30, 2021
Share-Based Compensation [Abstract]
Share-Based Compensation	15. Share-Based Compensation Total compensation expense, included in SG&A, and the associated tax benefits recognized related to our share-based compensation plans, were as follows: Thirteen weeks ended Thirty-nine weeks ended October 30, October 31, October 30, October 31, ($ in millions) 2021 2020 2021 2020 Options and shares purchased under the stock purchase plan $ 1 $ 1 $ 5 $ 5 Restricted stock units and performance stock units 6 1 18 4 Total share-based compensation expense $ 7 $ 2 $ 23 $ 9 Tax benefit recognized $ — $ — $ 2 $ 1 Valuation Model and Assumptions We use the Black-Scholes option-pricing model to estimate the fair value of share-based awards. The Black-Scholes option-pricing model incorporates various and subjective assumptions, including expected term and expected volatility. The table below shows assumptions used to compute share-based compensation expense for awards granted during the thirty-nine weeks ended October 30, 2021 and October 31, 2020. Stock Option Plans Stock Purchase Plan October 30, October 31, October 30, October 31, 2021 2020 2021 2020 Weighted-average risk free rate of interest 0.9 % 0.5 % 0.1 % 1.8 % Expected volatility 47 % 37 % 45 % 48 % Weighted-average expected award life (in years) 5.5 4.9 1.0 1.0 Dividend yield 1.5 % 4.3 % 4.4 % 4.2 % Weighted-average fair value $ 20.22 $ 5.03 $ 8.78 $ 13.97 The information in the table below provides activity under our stock option plans for the thirty-nine weeks ended October 30, 2021. Weighted- Weighted- Number Average Average of Remaining Exercise Shares Contractual Life Price (in thousands) (in years) (per share) Options outstanding at the beginning of the year 3,540 $ 47.17 Granted 183 53.82 Exercised (309) 33.30 Expired or cancelled (145) 53.21 Options outstanding at October 30, 2021 3,269 5.2 $ 48.58 Options exercisable at October 30, 2021 2,478 4.2 $ 53.70 Options available for future grant at October 30, 2021 5,531 The total fair value of options vested during thirty-nine weeks ended October 30, 2021 and October 31, 2020 was $4 million and $6 million, respectively. The cash received from option exercises during the thirteen and thirty-nine weeks ended October 30, 2021 was not significant and $10 million, respectively. The related tax benefits realized from option exercises during the thirteen and thirty-nine weeks ended October 30, 2021 was not significant and $2 million, respectively. The cash received and related tax benefits realized from option exercises during the thirty-nine weeks ended October 31, 2020 were not significant. The total intrinsic value of options exercised (the difference between the market price of our common stock on the exercise date and the price paid by the optionee to exercise the option) is presented below: Thirteen weeks ended Thirty-nine weeks ended October 30, October 31, October 30, October 31, ($ in millions) 2021 2020 2021 2020 Exercised $ — $ — $ 8 $ — The aggregate intrinsic value for stock options outstanding, and outstanding and exercisable (the difference between our closing stock price on the last trading day of the period and the exercise price of the options, multiplied by the number of in-the-money stock options) is presented below: Thirty-nine weeks ended ($ in millions) October 30, 2021 October 31, 2020 Outstanding $ 25 $ 18 Outstanding and exercisable $ 11 $ 4 As of October 30, 2021, there was $3 million of total unrecognized compensation cost related to nonvested stock options which is expected to be recognized over a remaining weighted-average period of 1.4 years. The table below summarizes information about stock options outstanding and exercisable at October 30, 2021. Options Outstanding Options Exercisable Weighted- Average Weighted- Weighted- Remaining Average Average Range of Exercise Number Contractual Exercise Number Exercise Prices Outstanding Life Price Exercisable Price (in thousands, except prices per share and contractual life) $21.60 - $36.51 1,003 6.6 $ 23.85 469 $ 26.36 $44.78 - $48.98 472 4.1 45.01 472 45.01 $53.61 - $58.94 538 6.9 56.67 282 57.94 $62.02 - $72.83 1,256 3.8 66.22 1,255 66.22 3,269 5.2 $ 48.58 2,478 $ 53.70 Restricted Stock Units and Performance Stock Units Restricted stock units (“RSU”) are awarded to certain officers, key employees of the Company, and nonemployee directors. Additionally, performance stock units (“PSU”) are awarded to certain officers and key employees. Each RSU and PSU represents the right to receive one share of our common stock provided that the applicable performance and vesting conditions are satisfied. Generally, RSU awards fully vest after the passage of time, typically three years for employees and one year for nonemployee directors, provided there is continued service with the Company until the vesting date, subject to the terms of the award. PSU awards are earned only after the attainment of performance goals in connection with the relevant performance period and vest after an additional one-year period. No dividends are paid or accumulated on any RSU or PSU awards. Compensation expense is recognized using the market value at the date of grant and is amortized over the vesting period. RSU and PSU activity for the thirty-nine weeks ended October 30, 2021 is summarized as follows: Weighted-Average Number Remaining Weighted-Average of Contractual Grant Date Shares Life Fair Value (in thousands) (in years) (per share) Nonvested at beginning of year 1,348 $ 38.48 Granted 426 54.16 Vested (522) 43.60 Performance adjustment (1) 240 Forfeited (48) 34.83 Nonvested at October 30, 2021 1,444 1.8 $ 43.66 Aggregate value ($ in millions) $ 63 (1) This represents adjustments made to PSUs and reflect changes in estimates based upon our current performance against predefined financial targets. The total value of RSU and PSU awards that vested during the thirty-nine weeks ended October 30, 2021 and October 31, 2020 was $23 million and $6 million, respectively. As of October 30, 2021, there was $43 million of total unrecognized compensation cost related to nonvested awards.

Legal Proceedings

Legal Proceedings	9 Months Ended
Legal Proceedings	Oct. 30, 2021
Legal Proceedings [Abstract]
Legal Proceedings	16. Legal Proceedings Legal proceedings pending against the Company or its consolidated subsidiaries consist of ordinary, routine litigation, including administrative proceedings, incidental to the business of the Company or businesses that have been sold or discontinued by the Company in past years. These legal proceedings include commercial, intellectual property, customer, environmental, and employment-related claims. We do not believe that the outcome of any such legal proceedings pending against the Company or its consolidated subsidiaries, as described above, would have a material adverse effect on our consolidated financial position, liquidity, or results of operations, taken as a whole, based upon current knowledge and taking into consideration current accruals. Litigation is inherently unpredictable. Judgments could be rendered or settlements made that could adversely affect the Company’s operating results or cash flows in a particular period.

Subsequent Events

Subsequent Events	9 Months Ended
Subsequent Events	Oct. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	17. Subsequent Event Acquisition of atmos On August 2, 2021, we announced that we entered into a definitive agreement to acquire certain entities collectively referred to as atmos, headquartered in Japan. atmos is a digitally led, culturally-connected global brand featuring premium sneakers and apparel, an exclusive in-house label, collaborative relationships with leading vendors in the sneaker ecosystem, experiential stores, and a robust omni-channel platform. The purchase price is $360 million and additional contingent consideration of up to $111 million based on achieving certain revenue growth and EBITDA performance targets. The transaction will be funded with the Company’s available cash. atmos will maintain its name, operating as a new banner in our portfolio. The transaction closed on November 1, 2021.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policy)	9 Months Ended
Summary of Significant Accounting Policies (Policy)	Oct. 30, 2021
Summary of Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements contained in this report are unaudited. In the opinion of management, the condensed consolidated financial statements include all normal, recurring adjustments necessary for a fair presentation of the results for the interim periods presented. As used in these Notes to the Unaudited Condensed Consolidated Financial Statements, the terms “Foot Locker,” “Company,” “we,” “our,” and “us” refer to Foot Locker, Inc. and its consolidated subsidiaries. The preparation of financial statements in accordance with U.S. generally accepted accounting principles requires us to make estimates and assumptions that affect the amounts reported in the accompanying Unaudited Condensed Consolidated Financial Statements and these Notes and related disclosures. Actual results may differ from those estimates. The results of operations for any interim period are not necessarily indicative of the results expected for the year. The results of operations for the period ended October 30, 2021 are not necessarily indicative of the results to be expected for the full fiscal year due to the continued uncertainty of general economic conditions that may affect us for the remainder of 2021. Specifically, the ongoing pandemic (“COVID-19”), including the dissemination and adoption of COVID-19 vaccines and their effectiveness against COVID-19 and its evolving strains, some of which may be more transmissible or virulent than the initial strain or additional widespread resurgences in COVID-19 infections, including evolving safety protocols including requirements for proof of vaccination, are significant uncertainties. COVID-19, as well as port delays, may affect our sales, traffic to our stores, our distribution capabilities, and distribution capabilities of our suppliers. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the Notes to Consolidated Financial Statements contained in our 2020 Form 10-K. There were no significant changes to the policies disclosed in Note 1, Summary of Significant Accounting Policies
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently issued accounting pronouncements did not, or are not believed by management to, have a material effect on our present or future consolidated financial statements.

Acquisition (Tables)

Acquisition (Tables)	Sep. 18, 2021
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	($ in millions) Assets acquired: Cash and cash equivalents $ 70 Merchandise inventories 80 Other current assets 10 Property and equipment, net 116 Operating lease right-of-use assets 143 WSS tradename 220 Other assets 4 Liabilities assumed: Accounts payable $ (58) Current portion of obligations under finance leases (3) Current portion of lease obligations (20) Long-term portion of obligations under finance leases (53) Long-term lease obligations (134) Deferred taxes (58) Other liabilities (4) Goodwill 494 Total purchase price $ 807

Revenue (Tables)

Revenue (Tables)	9 Months Ended
Revenue (Tables)	Oct. 30, 2021
Revenue [Abstract]
Disaggregation of Revenue	The table below presents sales disaggregated based upon sales channel. Sales are attributable to the channel in which the sales transaction is initiated. Thirteen weeks ended Thirty-nine weeks ended October 30, October 31, October 30, October 31, ($ in millions) 2021 2020 2021 2020 Sales by Channel Stores $ 1,756 $ 1,656 $ 5,193 $ 3,858 Direct-to-customers 433 450 1,424 1,501 Total sales $ 2,189 $ 2,106 $ 6,617 $ 5,359
Revenue from External Customers by Geographic Areas	Sales disaggregated based upon geographic area is presented in the table below. Sales are attributable to the geographic area in which the sales transaction is fulfilled. Thirteen weeks ended Thirty-nine weeks ended October 30, October 31, October 30, October 31, ($ in millions) 2021 2020 2021 2020 Sales by Geography United States $ 1,524 $ 1,534 $ 4,860 $ 3,974 International 665 572 1,757 1,385 Total sales $ 2,189 $ 2,106 $ 6,617 $ 5,359
Activity of Gift Card Liability Balance	October 30, October 31, ($ in millions) 2021 2020 Gift card liability at beginning of year $ 41 $ 35 Liabilities acquired - WSS 1 — Redemptions (187) (70) Breakage recognized in sales (13) (5) Activations 192 69 Foreign currency fluctuations — 1 Gift card liability $ 34 $ 30

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
Segment Information (Tables)	Oct. 30, 2021
Segment Information [Abstract]
Sales and Division Operating Results for Reportable Segments	Thirteen weeks ended Thirty-nine weeks ended October 30, October 31, October 30, October 31, ($ in millions) 2021 2020 2021 2020 Sales $ 2,189 $ 2,106 $ 6,617 $ 5,359 Operating Results Division profit 283 198 930 244 Less: Impairment and other charges (1) 57 4 97 58 Less: Corporate expense (2) 30 16 91 44 Income from operations 196 178 742 142 Interest expense, net (4) (2) (8) (5) Other income, net 30 193 359 197 Income before income taxes $ 222 $ 369 $ 1,093 $ 334 (1) During the thirty-nine weeks ended October 30, 2021, we recorded pre-tax charges as detailed in Note 5, Impairment and Other Charges . (2) Corporate expense consists of unallocated selling, general and administrative expenses, as well as depreciation and amortization related to our corporate headquarters, centrally managed departments, unallocated insurance and benefit programs, certain foreign exchange transaction gains and losses, and other items.
Disaggregation of Revenue	The table below presents sales disaggregated based upon sales channel. Sales are attributable to the channel in which the sales transaction is initiated. Thirteen weeks ended Thirty-nine weeks ended October 30, October 31, October 30, October 31, ($ in millions) 2021 2020 2021 2020 Sales by Channel Stores $ 1,756 $ 1,656 $ 5,193 $ 3,858 Direct-to-customers 433 450 1,424 1,501 Total sales $ 2,189 $ 2,106 $ 6,617 $ 5,359

Impairment and Other Charges (T

Impairment and Other Charges (Tables)	9 Months Ended
Impairment and Other Charges (Tables)	Oct. 30, 2021
Impairment and Other Charges [Abstract]
Schedule of Impairment and Other Charges	Thirteen weeks ended Thirty-nine weeks ended October 30, October 31, October 30, October 31, ($ in millions) 2021 2020 2021 2020 Impairment of long-lived assets and right-of-use assets $ 13 $ — $ 52 $ 15 Impairment of investments 30 — 32 — Acquisition and integration costs 14 — 14 — Lease termination costs — — 4 — Reorganization costs — — 2 3 (Insurance recovery)/ losses related to social unrest — 1 (7) 19 Runners Point shut down — 3 — 19 Pension litigation related charges — — — 2 Total impairment and other charges $ 57 $ 4 $ 97 $ 58

Cash, Cash Equivalents, and R_2

Cash, Cash Equivalents, and Restricted Cash (Tables)	9 Months Ended
Cash, Cash Equivalents, and Restricted Cash (Tables)	Oct. 30, 2021
Restricted Cash [Abstract]
Reconciliation of Cash and Cash Equivalents	The table below provides a reconciliation of cash and cash equivalents, as reported on our Condensed Consolidated Balance Sheets, to cash, cash equivalents, and restricted cash, as reported on our Condensed Consolidated Statements of Cash Flows. October 30, October 31, ($ in millions) 2021 2020 Cash and cash equivalents $ 1,339 $ 1,393 Restricted cash included in other current assets 9 8 Restricted cash included in other non-current assets 37 29 Cash, cash equivalents, and restricted cash $ 1,385 $ 1,430

Other Intangible Assets, Net (T

Other Intangible Assets, Net (Tables)	9 Months Ended
Other Intangible Assets, Net (Tables)	Oct. 30, 2021
Goodwill and Other Intangible Assets, Net [Abstract]
Components of Intangible Assets	The components of finite-lived intangible assets and intangible assets not subject to amortization are as follows: October 30, 2021 October 31, 2020 Gross Accum. Net Gross Accum. Net ($ in millions) value amort. value value amort. value Amortized intangible assets: (1) Lease acquisition costs $ 112 $ (108) $ 4 $ 119 $ (113) $ 6 Trademarks / trade names 20 (18) 2 20 (17) 3 $ 132 $ (126) $ 6 $ 139 $ (130) $ 9 Indefinite life intangible assets: (1) Trademarks / trade names $ 229 $ 9 Other intangible assets, net $ 235 $ 18 (1) The change in the ending balances also reflects the effect of foreign currency fluctuations due primarily to movements of the euro in relation to the U.S. dollar.
Amortization Expense	Amortization expense recorded is as follows: Thirteen weeks ended Thirty-nine weeks ended October 30, October 31, October 30, October 31, ($ in millions) 2021 2020 2021 2020 Amortization expense $ — $ — $ 2 $ 2
Estimated Future Expected Amortization Expense for Finite Life Intangible Assets	Estimated future amortization expense for finite-life intangible assets is as follows: ($ in millions) Remainder of 2021 $ 1 2022 3 2023 1 2024 1

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
Accumulated Other Comprehensive Loss (Tables)	Oct. 30, 2021
Accumulated Other Comprehensive Loss [Abstract]
Accumulated Other Comprehensive Loss	Accumulated other comprehensive loss (“AOCL”), net of tax, is comprised of the following: October 30, October 31, January 30, ($ in millions) 2021 2020 2021 Foreign currency translation adjustments $ (81) $ (84) $ (64) Cash flow hedges — — (1) Unrecognized pension cost and postretirement benefit (262) (281) (266) $ (343) $ (365) $ (331)
Changes in Accumulated Other Comprehensive Loss	The changes in AOCL for the thirty-nine weeks ended October 30, 2021 were as follows: Foreign Items Related Currency to Pension and Translation Cash Flow Postretirement ($ in millions) Adjustments Hedges Benefits Total Balance as of January 30, 2021 $ (64) $ (1) $ (266) $ (331) OCI before reclassification (17) 1 (2) (18) Amortization of pension actuarial loss, net of tax — — 6 6 Other comprehensive income (17) 1 4 (12) Balance as of October 30, 2021 $ (81) $ — $ (262) $ (343)
Reclassification from Accumulated Other Comprehensive Loss	Reclassifications from AOCL for the thirty-nine weeks ended October 30, 2021 were as follows: ($ in millions) Amortization of actuarial loss: Pension benefits $ 8 Income tax benefit (2) Total, net of tax $ 6

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Oct. 30, 2021
Fair Value Measurements [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring Basis	Assets and Liabilities Measured at Fair Value on a Recurring Basis ($ in millions) As of October 30, 2021 As of October 31, 2020 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets Minority investment in common stock 118 — — — — — Available-for-sale security — 7 — — 7 — Total Assets $ 118 $ 7 $ — $ — $ 7 $ — Liabilities Foreign exchange forward contracts — 1 — — — — Total Liabilities $ — $ 1 $ — $ — $ — $ —
Carrying Value and Estimated Fair Value of Long-Term Debt	The carrying value and estimated fair value of long-term debt were as follows: ($ in millions) October 30, 2021 October 31, 2020 Carrying value (1) $ 492 $ 120 Fair value $ 497 $ 129 (1) The carrying value of debt as of October 30, 2021 reflects $6 million of issuer’s discount and costs related to the Senior Notes due 2029.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
Earnings Per Share (Tables)	Oct. 30, 2021
Earnings Per Share [Abstract]
Basic and Diluted Weighted-Average Number of Common Shares Outstanding	The computation of basic and diluted EPS is as follows: Thirteen weeks ended Thirty-nine weeks ended October 30, October 31, October 30, October 31, (in millions, except per share data) 2021 2020 2021 2020 Net income $ 158 $ 265 $ 790 $ 200 Weighted-average common shares outstanding 103.2 104.4 103.5 104.4 Dilutive effect of potential common shares 1.2 0.9 1.4 0.7 Weighted-average common shares outstanding assuming dilution 104.4 105.3 104.9 105.1 Earnings per share - basic $ 1.53 $ 2.54 $ 7.63 $ 1.92 Earnings per share - diluted $ 1.52 $ 2.52 $ 7.54 $ 1.91 Anti-dilutive share-based awards excluded from diluted calculation 1.8 2.5 1.8 2.7

Pension (Tables)

Pension (Tables)	9 Months Ended
Pension (Tables)	Oct. 30, 2021
Retirement Plans and Other Benefits [Abstract]
Net Benefit Expense (Income)	Thirteen weeks ended Thirty-nine weeks ended October 30, October 31, October 30, October 31, ($ in millions) 2021 2020 2021 2020 Service cost $ 4 $ 3 $ 12 $ 10 Interest cost 4 5 13 16 Expected return on plan assets (9) (9) (26) (28) Amortization of net loss 3 3 8 9 Net benefit expense $ 2 $ 2 $ 7 $ 7

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
Share-Based Compensation (Tables)	Oct. 30, 2021
Share-Based Compensation [Abstract]
Total Compensation Expense and the Related Tax Benefits Recognized	Total compensation expense, included in SG&A, and the associated tax benefits recognized related to our share-based compensation plans, were as follows: Thirteen weeks ended Thirty-nine weeks ended October 30, October 31, October 30, October 31, ($ in millions) 2021 2020 2021 2020 Options and shares purchased under the stock purchase plan $ 1 $ 1 $ 5 $ 5 Restricted stock units and performance stock units 6 1 18 4 Total share-based compensation expense $ 7 $ 2 $ 23 $ 9 Tax benefit recognized $ — $ — $ 2 $ 1
Assumptions used to Compute Share-Based Compensation Expense	The table below shows assumptions used to compute share-based compensation expense for awards granted during the thirty-nine weeks ended October 30, 2021 and October 31, 2020. Stock Option Plans Stock Purchase Plan October 30, October 31, October 30, October 31, 2021 2020 2021 2020 Weighted-average risk free rate of interest 0.9 % 0.5 % 0.1 % 1.8 % Expected volatility 47 % 37 % 45 % 48 % Weighted-average expected award life (in years) 5.5 4.9 1.0 1.0 Dividend yield 1.5 % 4.3 % 4.4 % 4.2 % Weighted-average fair value $ 20.22 $ 5.03 $ 8.78 $ 13.97
Options Granted under Stock Option Plans	Weighted- Weighted- Number Average Average of Remaining Exercise Shares Contractual Life Price (in thousands) (in years) (per share) Options outstanding at the beginning of the year 3,540 $ 47.17 Granted 183 53.82 Exercised (309) 33.30 Expired or cancelled (145) 53.21 Options outstanding at October 30, 2021 3,269 5.2 $ 48.58 Options exercisable at October 30, 2021 2,478 4.2 $ 53.70 Options available for future grant at October 30, 2021 5,531
Total Intrinsic Value of Options Exercised	The total intrinsic value of options exercised (the difference between the market price of our common stock on the exercise date and the price paid by the optionee to exercise the option) is presented below: Thirteen weeks ended Thirty-nine weeks ended October 30, October 31, October 30, October 31, ($ in millions) 2021 2020 2021 2020 Exercised $ — $ — $ 8 $ —
Aggregate Intrinsic Value for Stock Options Outstanding and Exercisable	The aggregate intrinsic value for stock options outstanding, and outstanding and exercisable (the difference between our closing stock price on the last trading day of the period and the exercise price of the options, multiplied by the number of in-the-money stock options) is presented below: Thirty-nine weeks ended ($ in millions) October 30, 2021 October 31, 2020 Outstanding $ 25 $ 18 Outstanding and exercisable $ 11 $ 4
Information about Stock Options Outstanding and Exercisable	The table below summarizes information about stock options outstanding and exercisable at October 30, 2021. Options Outstanding Options Exercisable Weighted- Average Weighted- Weighted- Remaining Average Average Range of Exercise Number Contractual Exercise Number Exercise Prices Outstanding Life Price Exercisable Price (in thousands, except prices per share and contractual life) $21.60 - $36.51 1,003 6.6 $ 23.85 469 $ 26.36 $44.78 - $48.98 472 4.1 45.01 472 45.01 $53.61 - $58.94 538 6.9 56.67 282 57.94 $62.02 - $72.83 1,256 3.8 66.22 1,255 66.22 3,269 5.2 $ 48.58 2,478 $ 53.70
Restricted Share and Unit Activity	Weighted-Average Number Remaining Weighted-Average of Contractual Grant Date Shares Life Fair Value (in thousands) (in years) (per share) Nonvested at beginning of year 1,348 $ 38.48 Granted 426 54.16 Vested (522) 43.60 Performance adjustment (1) 240 Forfeited (48) 34.83 Nonvested at October 30, 2021 1,444 1.8 $ 43.66 Aggregate value ($ in millions) $ 63 (1) This represents adjustments made to PSUs and reflect changes in estimates based upon our current performance against predefined financial targets.

Acquisition (Narrative) (Detail

Acquisition (Narrative) (Details) $ in Millions	9 Months Ended
Acquisition (Narrative) (Details) $ in Millions	Oct. 30, 2021USD ($)store
Business Combination Segment Allocation [Line Items]
Payments to Acquire Businesses, Gross	$ 807
Purchase of business, net of cash acquired	$ 737
WSS [Member]
Business Combination Segment Allocation [Line Items]
Number of Stores \| store	93

Acquisition (Schedule of Assets

Acquisition (Schedule of Assets/Liabilities Acquired) (Details) - USD ($) $ in Millions	Oct. 30, 2021	Sep. 18, 2021	Jan. 30, 2021	[1]	Oct. 31, 2020
Business Combination Segment Allocation [Line Items]
Goodwill	$ 651		$ 159		$ 158
WSS [Member]
Business Combination Segment Allocation [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents		$ 70
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory		80
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other		10
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment		116
Business Combination, Recognized Identifiable Assets Acquired, Right-of-use-assets		143
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets		220
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets		4
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable		(58)
Business Combination, Recognized Identifiable Liabilities Assumed, Current Portion of Obligations Under Finance Leases		(3)
Business Combination, Recognized Identifiable Liabilities Assumed, Current Portion of Lease Obligations		(20)
Business Combination, Recognized Identifiable Liabilities Assumed, Long Term Portion of Obligations Under Finance Leases		(53)
Business Combination, Recognized Identifiable Liabilities Assumed, Long-term Lease Obligations		(134)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities		(58)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other		(4)
Goodwill	$ 494	494
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net, Total		$ 807

[1]	The balance sheet at January 30, 2021 has been derived from the previously reported audited consolidated financial statements at that date, but does not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. For further information, refer to the consolidated financial statements and footnotes thereto included in Foot Locker, Inc.’s Annual Report on Form 10-K for the year ended January 30, 2021.

Revenue (Schedule of Sales Disa

Revenue (Schedule of Sales Disaggregated by Sales Channel) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
Sales	$ 2,189	$ 2,106	$ 6,617	$ 5,359
Store Sales Channel [Member]
Sales	1,756	1,656	5,193	3,858
Direct to Customers Sales Channel [Member]
Sales	$ 433	$ 450	$ 1,424	$ 1,501

Revenue (Schedule of Sales Di_2

Revenue (Schedule of Sales Disaggregated by Geographic Area) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
Sales	$ 2,189	$ 2,106	$ 6,617	$ 5,359
United States
Sales	1,524	1,534	4,860	3,974
International [Member]
Sales	$ 665	$ 572	$ 1,757	$ 1,385

Revenue (Activity of Gift Card

Revenue (Activity of Gift Card Liability Balance) (Details) - USD ($) $ in Millions	9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020
Accrued gift card liability at beginning of period	$ 41	$ 35
Liabilities acquired - WSS	1
Foreign currency fluctuations		1
Accrued gift card liability at end of period	34	30
Gift Card Redemption Revenue [Member]
Revenue recognized	(187)	(70)
Gift Card Breakage Revenue [Member]
Revenue recognized	(13)	(5)
Gift Card Activations [Member]
Activations	$ 192	$ 69

Segment Information (Sales and

Segment Information (Sales and Division Operating Results for Reportable Segments) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
Segment Information [Abstract]
Sales	$ 2,189	$ 2,106	$ 6,617	$ 5,359
Division profit	283	198	930	244
Less: Impairment and other charges	57	4	97	58
Less: Corporate expense	30	16	91	44
Income from operations	196	178	742	142
Interest expense, net	(4)	(2)	(8)	(5)
Other income, net	30	193	359	197
Income before income taxes	222	$ 369	1,093	334
Non-cash gain	$ 290		$ 340	$ 190

Impairment and Other Charges (S

Impairment and Other Charges (Schedule of Impairment and Other Charges) (Details) - USD ($) $ in Millions	3 Months Ended				9 Months Ended		30 Months Ended
	Oct. 30, 2021	Jul. 31, 2021	May 01, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020	Jul. 31, 2021
Impairment and Other Charges [Abstract]
Impairment of long-lived assets and right-of-use assets	$ 13	$ 39			$ 52	$ 15
Lease termination costs					(4)
Impairment of investments	30		$ 32		32		$ 43
Business Combination, Integration Related Costs	14				14
Reorganization costs					2	3
(Insurance recovery)/ losses related to social unrest				$ 1	(7)	19
Runners Point shut down				3		19
Pension litigation related charges						2
Total impairment and other charges	$ 57			$ 4	$ 97	$ 58

Impairment and Other Charges (N

Impairment and Other Charges (Narrative) (Details)	3 Months Ended				6 Months Ended	9 Months Ended		30 Months Ended
Impairment and Other Charges (Narrative) (Details)	Oct. 30, 2021USD ($)	Jul. 31, 2021USD ($)	May 01, 2021USD ($)	Oct. 31, 2020USD ($)	Oct. 30, 2021USD ($)	Oct. 30, 2021USD ($)	Oct. 31, 2020USD ($)	Jul. 31, 2021USD ($)
Impairment and Other Charges [Line Items]
Pension litigation charge							$ (2,000,000)
Plan reformation cost							2,000,000
Impairment of assets	$ 13,000,000	$ 39,000,000				$ 52,000,000	15,000,000
Lease termination costs						(4,000,000)
Business exit costs				$ 3,000,000			19,000,000
Impairments of minority investments	$ 30,000,000		$ 32,000,000			32,000,000		$ 43,000,000
Number of stores with non-cash impairment charge					60
Reorganization costs						2,000,000	3,000,000
Business Exit Costs				3,000,000			19,000,000
Social Unrest [Member]
Impairment and Other Charges [Line Items]
Insurance recoveries from social unrest						11,000,000
Damages to Store Property Related to Social Unrest [Member]
Impairment and Other Charges [Line Items]
(Insurance recovery)/ losses related to social unrest				$ 1,000,000			$ 19,000,000
Insurance recoveries from social unrest						7,000,000
Other minority investments [Member]
Impairment and Other Charges [Line Items]
Impairments of minority investments						$ 2,000,000

Impairment and Other Charges (R

Impairment and Other Charges (Restructuring Charges) (Details) - USD ($) $ in Millions	9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020
Impairment and Other Charges [Abstract]
Charges	$ 2	$ 3

Cash, Cash Equivalents, and R_3

Cash, Cash Equivalents, and Restricted Cash (Reconciliation of Cash and Cash Equivalents) (Details) - USD ($) $ in Millions	Oct. 30, 2021	Jan. 30, 2021		Oct. 31, 2020	Feb. 01, 2020
Restricted Cash [Abstract]
Cash and cash equivalents	$ 1,339	$ 1,680	[1]	$ 1,393
Restricted cash included in other current assets	9			8
Restricted cash included in other non-current assets	37			29
Cash, cash equivalents, and restricted cash	$ 1,385	$ 1,718		$ 1,430	$ 942

[1]	The balance sheet at January 30, 2021 has been derived from the previously reported audited consolidated financial statements at that date, but does not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. For further information, refer to the consolidated financial statements and footnotes thereto included in Foot Locker, Inc.’s Annual Report on Form 10-K for the year ended January 30, 2021.

Goodwill (Narrative) (Details)

Goodwill (Narrative) (Details) - USD ($) $ in Millions	Oct. 30, 2021	Sep. 18, 2021	Jan. 30, 2021	[1]	Oct. 31, 2020
Business Combination Segment Allocation [Line Items]
Goodwill	$ 651		$ 159		$ 158
WSS [Member]
Business Combination Segment Allocation [Line Items]
Goodwill	$ 494	$ 494

[1]	The balance sheet at January 30, 2021 has been derived from the previously reported audited consolidated financial statements at that date, but does not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. For further information, refer to the consolidated financial statements and footnotes thereto included in Foot Locker, Inc.’s Annual Report on Form 10-K for the year ended January 30, 2021.

Other Intangible Assets, Net (S

Other Intangible Assets, Net (Schedule of Other Intangible Assets) (Details) - USD ($) $ in Millions	Oct. 30, 2021	Jan. 30, 2021	[1]	Oct. 31, 2020
Intangible Assets by Major Class [Line Items]
Amortized intangible assets, Gross value	$ 132			$ 139
Amortized intangible assets, Accum. amort.	(126)			(130)
Amortized intangible assets, Net value	6			9
Other intangible assets, net	235	$ 17		18
Lease Acquisition Costs [Member]
Intangible Assets by Major Class [Line Items]
Amortized intangible assets, Gross value	112			119
Amortized intangible assets, Accum. amort.	(108)			(113)
Amortized intangible assets, Net value	4			6
Trademarks and Trade Names [Member]
Intangible Assets by Major Class [Line Items]
Amortized intangible assets, Gross value	20			20
Amortized intangible assets, Accum. amort.	(18)			(17)
Amortized intangible assets, Net value	2			3
Trademarks and Trade Names [Member]
Intangible Assets by Major Class [Line Items]
Indefinite life intangible assets, Net Value	$ 229			$ 9

[1]	The balance sheet at January 30, 2021 has been derived from the previously reported audited consolidated financial statements at that date, but does not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. For further information, refer to the consolidated financial statements and footnotes thereto included in Foot Locker, Inc.’s Annual Report on Form 10-K for the year ended January 30, 2021.

Other Intangible Assets, Net (A

Other Intangible Assets, Net (Amortization Expense) (Details) - USD ($) $ in Millions	9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020
Goodwill and Other Intangible Assets, Net [Abstract]
Amortization expense	$ 2	$ 2

Other Intangible Assets, Net (E

Other Intangible Assets, Net (Estimated Future Amortization Expense for Finite Lived Intangibles) (Details) $ in Millions	Oct. 30, 2021USD ($)
Goodwill and Other Intangible Assets, Net [Abstract]
Remainder of 2021	$ 1
2022	3
2023	1
2024	$ 1

Revolving Credit Facility (Narr

Revolving Credit Facility (Narrative) (Details) - Revolving Credit Facility [Member]	2 Months Ended	9 Months Ended
	Jul. 31, 2021	Oct. 30, 2021
Line of Credit Facility [Line Items]
Credit agreement start date		May 19, 2021
Commitment fee percentage	0.25%
Federal Funds Rate [Member] \| Maximum [Member]
Line of Credit Facility [Line Items]
Debt, basis spread on variable rate	0.75%
Federal Funds Rate [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
Debt, basis spread on variable rate	0.25%
Eurodollar [Member] \| Maximum [Member]
Line of Credit Facility [Line Items]
Debt, basis spread on variable rate	1.75%
Eurodollar [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
Debt, basis spread on variable rate	1.25%

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Oct. 30, 2021	Oct. 30, 2021	Oct. 31, 2020	Jan. 30, 2021	[1]
Debt Instrument [Line Items]
Long-term debt and obligations under finance leases	$ 456	$ 456	$ 129	$ 8
Proceeds from Issuance of Unsecured Debt		395
Payments of Debt Issuance Costs		2	4
Finance Lease, Liability, Current	104	104	$ 2	$ 102
Senior Notes Due 2029 [Member]
Debt Instrument [Line Items]
8.5% debentures payable 2022	$ 400	$ 400
Interest rate of debentures (as a percent)	4.00%	4.00%
Debt Instrument, Face Amount	$ 400	$ 400
Proceeds from Issuance of Unsecured Debt	$ 395
Debt Instrument, Interest Rate, Stated Percentage	4.00%	4.00%
Payments of Debt Issuance Costs	$ 1

[1]	The balance sheet at January 30, 2021 has been derived from the previously reported audited consolidated financial statements at that date, but does not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. For further information, refer to the consolidated financial statements and footnotes thereto included in Foot Locker, Inc.’s Annual Report on Form 10-K for the year ended January 30, 2021.

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Schedule of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Millions	Oct. 30, 2021	Jan. 30, 2021		Oct. 31, 2020
Accumulated Other Comprehensive Loss [Abstract]
Foreign currency translation adjustments	$ (81)	$ (64)		$ (84)
Cash flow hedges		(1)
Unrecognized pension cost and postretirement benefit	(262)	(266)		(281)
Accumulated other comprehensive loss ("AOCL"), net of tax	$ (343)	$ (331)	[1]	$ (365)

[1]	The balance sheet at January 30, 2021 has been derived from the previously reported audited consolidated financial statements at that date, but does not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. For further information, refer to the consolidated financial statements and footnotes thereto included in Foot Locker, Inc.’s Annual Report on Form 10-K for the year ended January 30, 2021.

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss (Changes in Accumulated Other Comprehensive Loss) (Details) $ in Millions	9 Months Ended
	Oct. 30, 2021USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ (331)	[1]
OCI before reclassification	(18)
Amortization of pension actuarial (gain)/loss, net of tax	6
Other comprehensive income	(12)
Ending Balance	(343)
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(64)
OCI before reclassification	(17)
Amortization of pension actuarial (gain)/loss, net of tax
Other comprehensive income	(17)
Ending Balance	(81)
Cash Flow Hedges Parent[Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(1)
OCI before reclassification	1
Amortization of pension actuarial (gain)/loss, net of tax
Other comprehensive income	1
Items Related to Pension and Postretirement Benefits [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(266)
OCI before reclassification	(2)
Amortization of pension actuarial (gain)/loss, net of tax	6
Other comprehensive income	4
Ending Balance	$ (262)

[1]	The balance sheet at January 30, 2021 has been derived from the previously reported audited consolidated financial statements at that date, but does not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. For further information, refer to the consolidated financial statements and footnotes thereto included in Foot Locker, Inc.’s Annual Report on Form 10-K for the year ended January 30, 2021.

Accumulated Other Comprehensi_5

Accumulated Other Comprehensive Loss (Reclassifications from Accumulated Other Comprehensive Loss) (Details) $ in Millions	9 Months Ended
	Oct. 30, 2021USD ($)
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Income tax benefit	$ (2)
Total, net of tax	6
Pension Benefits [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Pension benefits	$ 8

Fair Value Measurements (Assets

Fair Value Measurements (Assets and Liabilities Measured at Fair Value on Recurring Basis) (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Millions	Oct. 30, 2021	Oct. 31, 2020
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets measured at fair value on recurring basis	$ 118
Level 1 [Member] \| Minority Investment in Common Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets measured at fair value on recurring basis	118
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets measured at fair value on recurring basis	7	$ 7
Liabilities measured at fair value on recurring basis	1
Level 2 [Member] \| Available-for-sale Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets measured at fair value on recurring basis	7	$ 7
Forward Foreign Exchange Contracts [Member] \| Level 2 [Member] \| Derivative Financial Instruments, Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities measured at fair value on recurring basis	$ 1

Fair Value Measurements (Carryi

Fair Value Measurements (Carrying Value and Estimated Fair Value of Long-Term Debt) (Details) - USD ($) $ in Millions	Oct. 30, 2021	Oct. 31, 2020
Fair Value Measurements [Abstract]
Long-term debt, Carrying value	$ 492	$ 120
Long-term debt, Fair value	497	$ 129
Debt discount	$ 6

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		30 Months Ended
	Oct. 30, 2021	May 01, 2021	Oct. 30, 2021	Oct. 31, 2020	Jul. 31, 2021	Jan. 30, 2021	Aug. 01, 2020
Fair Value Measurements [Abstract]
Fair Value, Assets, Level 2 to Level 1 Transfers, Amount					$ 0	$ 0	$ 0
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount					0	0	0
Fair Value, Liabilities, Level 1 to Level 2 Transfers, Amount					0	0	0
Fair Value, Liabilities, Level 2 to Level 1 Transfers, Amount					0	$ 0	$ 0
Non-cash gain	$ 290		$ 340	$ 190
Equity method investment fair value	618		618	$ 326
Impairment of investments	30	$ 32	$ 32		$ 43
Increase (decrease) in minority interests	$ 68

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares shares in Millions	9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020
Earnings Per Share [Abstract]
Contingently issuable shares excluded from diluted earnings per share	0.5	0.5

Earnings Per Share (Computation

Earnings Per Share (Computation of Basic and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income/(loss)	$ 158	$ 265	$ 790	$ 200
Weighted-average common shares outstanding	103.2	104.4	103.5	104.4
Dilutive effect of potential common shares	1.2	0.9	1.4	0.7
Weighted-average common shares outstanding assuming dilution	104.4	105.3	104.9	105.1
Earnings per share - basic	$ 1.53	$ 2.54	$ 7.63	$ 1.92
Earnings per share - diluted	$ 1.52	$ 2.52	$ 7.54	$ 1.91
Stock Option Plans [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive share-based awards excluded from diluted calculation	1.8	2.5	1.8	2.7

Pension (Net Benefit Expense (I

Pension (Net Benefit Expense (Income)) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
Retirement Plans and Other Benefits [Abstract]
Service cost	$ 4	$ 3	$ 12	$ 10
Interest cost	4	5	13	16
Expected return on plan assets	(9)	(9)	(26)	(28)
Amortization of net loss (gain)	3	3	8	9
Net benefit expense (income)	$ 2	$ 2	$ 7	$ 7

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details) - USD ($) shares in Thousands, $ in Millions	9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant	5,531
Unrecognized compensation cost	$ 43
Fair value of options vested	4	$ 6
Tax benefit realized from options exercised	2
Proceeds from exercise of stock options	10
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of awards	23	$ 6
Dividends	$ 0
Restricted Stock Units [Member] \| Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Restricted Stock Units [Member] \| Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
Nonvested Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 3
Unrecognized compensation cost related to nonvested stock options, weighted-average period expected to be recognized	1 year 4 months 24 days
2013 ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average expected award life (in years)	1 year	1 year

Share-Based Compensation (Total

Share-Based Compensation (Total Compensation Expense Included in SG&A and the Related Tax Benefits Recognized) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
Share-Based Compensation [Abstract]
Options and shares purchased under the employee stock purchase plan	$ 1	$ 1	$ 5	$ 5
Restricted stock units and performance stock units	6	1	18	4
Total share-based compensation expense	$ 7	$ 2	23	9
Tax benefit recognized			$ 2	$ 1

Share-Based Compensation (Assum

Share-Based Compensation (Assumptions Used to Compute Share-Based Compensation Expense) (Details) - $ / shares	9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020
Stock Option Plans [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average risk free rate of interest	0.90%	0.50%
Expected volatility	47.00%	37.00%
Weighted-average expected award life (in years)	5 years 6 months	4 years 10 months 24 days
Dividend yield	1.50%	4.30%
Weighted-average fair value	$ 20.22	$ 5.03
2013 ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average risk free rate of interest	0.10%	1.80%
Expected volatility	45.00%	48.00%
Weighted-average expected award life (in years)	1 year	1 year
Dividend yield	4.40%	4.20%
Weighted-average fair value	$ 8.78	$ 13.97

Share-Based Compensation (Optio

Share-Based Compensation (Options Granted Under Stock Option Plans) (Details) shares in Thousands	9 Months Ended
	Oct. 30, 2021$ / sharesshares
Number of Shares
Options outstanding at beginning of year	3,540
Granted	183
Exercised	(309)
Expired or cancelled	(145)
Options outstanding at end of period	3,269
Options exercisable at end of period	2,478
Options available for future grant at end of period	5,531
Weighted-Average Exercise Price
Options outstanding at beginning of year \| $ / shares	$ 47.17
Granted \| $ / shares	53.82
Exercised \| $ / shares	33.30
Expired or cancelled \| $ / shares	53.21
Options outstanding at end of period \| $ / shares	48.58
Options exercisable at end of period \| $ / shares	$ 53.70
Options outstanding, weighted-average remaining contractual life	5 years 2 months 12 days
Options exercisable at end of period, Weighted-average remaining contractual life	4 years 2 months 12 days

Share-Based Compensation (Tot_2

Share-Based Compensation (Total Intrinsic Value of Options Exercised) (Details) $ in Millions	9 Months Ended
	Oct. 30, 2021USD ($)
Intrinsic value of stock options
Exercised	$ 8

Share-Based Compensation (Aggre

Share-Based Compensation (Aggregate Intrinsic Value for Stock Options Outstanding and Exercisable) (Details) - USD ($) $ in Millions	Oct. 30, 2021	Oct. 31, 2020
Share-Based Compensation [Abstract]
Outstanding	$ 25	$ 18
Outstanding and exercisable	$ 11	$ 4

Share-Based Compensation (Infor

Share-Based Compensation (Information about Stock Options Outstanding and Exercisable) (Details) - $ / shares shares in Thousands	9 Months Ended
	Oct. 30, 2021	Jan. 30, 2021
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Number of Shares	3,269	3,540
Options outstanding, weighted-average remaining contractual life	5 years 2 months 12 days
Options Outstanding, Weighted-Average Exercise Price	$ 48.58	$ 47.17
Options Exercisable, Number of Shares	2,478
Options Exercisable, Weighted-Average Exercise Price	$ 53.70
$21.60 - $36.51 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, Lower Limit	21.60
Range of Exercise Prices, Upper Limit	$ 36.51
Options Outstanding, Number of Shares	1,003
Options outstanding, weighted-average remaining contractual life	6 years 7 months 6 days
Options Outstanding, Weighted-Average Exercise Price	$ 23.85
Options Exercisable, Number of Shares	469
Options Exercisable, Weighted-Average Exercise Price	$ 26.36
$44.78 - $48.98 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, Lower Limit	44.78
Range of Exercise Prices, Upper Limit	$ 48.98
Options Outstanding, Number of Shares	472
Options outstanding, weighted-average remaining contractual life	4 years 1 month 6 days
Options Outstanding, Weighted-Average Exercise Price	$ 45.01
Options Exercisable, Number of Shares	472
Options Exercisable, Weighted-Average Exercise Price	$ 45.01
$53.61 - $58.94 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, Lower Limit	53.61
Range of Exercise Prices, Upper Limit	$ 58.94
Options Outstanding, Number of Shares	538
Options outstanding, weighted-average remaining contractual life	6 years 10 months 24 days
Options Outstanding, Weighted-Average Exercise Price	$ 56.67
Options Exercisable, Number of Shares	282
Options Exercisable, Weighted-Average Exercise Price	$ 57.94
$62.02 to $72.83 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, Lower Limit	62.02
Range of Exercise Prices, Upper Limit	$ 72.83
Options Outstanding, Number of Shares	1,256
Options outstanding, weighted-average remaining contractual life	3 years 9 months 18 days
Options Outstanding, Weighted-Average Exercise Price	$ 66.22
Options Exercisable, Number of Shares	1,255
Options Exercisable, Weighted-Average Exercise Price	$ 66.22

Share-Based Compensation (Chang

Share-Based Compensation (Changes in Nonvested Options) (Details) - Restricted Stock Units [Member] $ / shares in Units, shares in Thousands, $ in Millions	9 Months Ended
	Oct. 30, 2021USD ($)$ / sharesshares
Number of Shares
Nonvested, Beginning Balance	1,348
Granted	426
Vested	(522)
Performance adjustment	240
Expired or cancelled	(48)	[1]
Nonvested, Ending Balance	1,444
Aggregate value \| $	$ 63
Wtg. Avg. remaining contractual life (in years)	1 year 9 months 18 days
Weighted-Average Grant Date Fair Value per Share
Nonvested, Beginning Balance \| $ / shares	$ 38.48
Granted \| $ / shares	54.16
Vested \| $ / shares	43.60
Cancelled \| $ / shares	34.83	[1]
Nonvested, Ending Balance \| $ / shares	$ 43.66

[1]	Weighted-Average

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Millions	Nov. 01, 2021	Jul. 31, 2021
Subsequent Event [Member] \| atmos [Member]
Subsequent Event [Line Items]
Purchase price	$ 360
Business combination, contingent consideration	$ 111
Maximum [Member] \| Revolving Credit Facility [Member] \| Federal Funds Rate [Member]
Subsequent Event [Line Items]
Debt, basis spread on variable rate		0.75%
Minimum [Member] \| Revolving Credit Facility [Member] \| Federal Funds Rate [Member]
Subsequent Event [Line Items]
Debt, basis spread on variable rate		0.25%