Foot Locker (FL) 10-Q 8 Jun 22 2021 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Apr. 30, 2022	May 27, 2022
Document And Entity Information [Abstract]
Document Type	10-Q
Document Period End Date	Apr. 30, 2022
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		94,510,269
Entity Central Index Key	0000850209
Current Fiscal Year End Date	--01-29
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
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	Apr. 30, 2022	Jan. 29, 2022	[1]	May 01, 2021
Current assets:
Cash and cash equivalents	$ 551	$ 804		$ 1,963
Merchandise inventories	1,401	1,266		1,021
Other current assets	281	293		283
Assets, current, total	2,233	2,363		3,267
Property and equipment, net	899	917		769
Operating lease right-of-use assets	2,566	2,616		2,700
Deferred taxes	79	86		101
Goodwill	783	797		159
Other intangible assets, net	441	454		16
Minority investments	759	781		342
Other assets	118	121		88
Total assets	7,878	8,135		7,442
Current liabilities:
Accounts payable	565	596		658
Accrued and other liabilities	428	561		572
Current portion of obligations under finance leases	6	6		101
Operating lease liabilities classified as current	557	572		582
Liabilities, current, total	1,556	1,735		1,913
Long-term debt and obligations under finance leases	450	451		8
Long-term lease obligations	2,323	2,363		2,470
Other liabilities	334	343		121
Total liabilities	4,663	4,892		4,512
Shareholders' equity:
Common stock and paid-in capital: 99,233,112; 104,286,151; and 99,070,796 shares issued, respectively	779	770		791
Retained earnings	2,995	2,900		2,507
Accumulated other comprehensive loss	(384)	(343)		(326)
Less: Treasury stock at cost: 4,731,931; 886,661; and 2,050,000 shares, respectively	(178)	(88)		(47)
Noncontrolling interest	3	4		5
Total shareholders' equity	3,215	3,243		2,930
Liabilities and equity, total	$ 7,878	$ 8,135		$ 7,442
[1]	The balance sheet at January 29, 2022 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 29, 2022.

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares	Apr. 30, 2022	Jan. 29, 2022	May 01, 2021
CONSOLIDATED BALANCE SHEETS [Abstract]
Common Stock, Shares Outstanding, Issued, Total	99,233,112	99,070,796	104,286,151
Treasury Stock, Shares	4,731,931	2,050,000	886,661

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Apr. 30, 2022	May 01, 2021
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Sales	$ 2,175	$ 2,153
Cost of sales	1,435	1,404
Selling, general and administrative expenses	463	418
Depreciation and amortization	54	45
Impairment and other charges	6	4
Income from operations	217	282
Interest (expense) income, net	(5)	(2)
Other (expense) / income, net	(22)	4
Income before income taxes	190	284
Income tax expense	58	82
Net Income	132	202
Net loss attributable to noncontrolling interests	1
Net income attributable to Foot Locker, Inc.	$ 133	$ 202
Basic earnings per share	$ 1.38	$ 1.95
Weighted-average shares outstanding	96.1	103.6
Diluted earnings per share	$ 1.37	$ 1.93
Weighted-average shares outstanding, assuming dilution	97.2	105

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2022	May 01, 2021
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
Net income attributable to Foot Locker, Inc.	$ 133	$ 202
Foreign currency translation adjustment:
Translation adjustment arising during the period, net of income tax (benefit)/expense of $(1), and $1, respectively	(44)	4
Cash flow hedges:
Change in fair value of derivatives, net of income tax expense of $-, and $-, respectively	1
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 and $1, respectively	2	1
Comprehensive income (loss)	$ 92	$ 207

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2022	May 01, 2021
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
Net income tax benefit on translation adjustment	$ (1)	$ 1
Amortization of net actuarial gain/loss and prior service cost included in net periodic benefit costs, income tax expense	$ 1	$ 1

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Millions	Additional Paid-In Capital & Common Stock	Treasury Stock [Member]	Retained Earnings	Accumulated Other Comprehensive Loss [Member]	Noncontrolling Interest [Member]	Total
Cumulative effect of the adoption new ASUs	$ 779	$ (3)	$ 2,326	$ (331)	$ 5	$ 2,776
Beginning Balance at Jan. 30, 2021	$ 779	$ (3)	2,326	(331)	5	2,776
Beginning Balance (in shares) at Jan. 30, 2021	103,693,000
Beginning Balance (in treasury shares) at Jan. 30, 2021		(74,000)
Restricted stock issued (in shares)	468,000
Issued under director and stock plans	$ 4					4
Issued under director and stock plans (in shares)	125,000
Share-based compensation expense	$ 8					8
Shares of common stock used to satisfy tax withholding obligations		$ (10)				(10)
Shares of common stock used to satisfy tax withholding obligations (in shares)		(192,000)
Share repurchases		$ (34)				(34)
Share repurchases (in shares)		(621,000)
Net income			202			202
Cash dividends declared on common stock			(21)			(21)
Translation adjustment, net of tax				4		4
Pension and postretirement adjustments, net of tax				1		1
Ending Balance at May. 01, 2021	$ 791	$ (47)	2,507	(326)	5	$ 2,930
Ending Balance (in shares) at May. 01, 2021	104,286,000					104,286,151
Ending Balance (in treasury shares) at May. 01, 2021		(887,000)				(886,661)
Cumulative effect of the adoption new ASUs	$ 791	$ (47)	2,507	(326)	5	$ 2,930
Cumulative effect of the adoption new ASUs	770	(88)	2,900	(343)	4	3,243	[1]
Beginning Balance at Jan. 29, 2022	$ 770	$ (88)	2,900	(343)	4	$ 3,243	[1]
Beginning Balance (in shares) at Jan. 29, 2022	99,071,000					99,070,796
Beginning Balance (in treasury shares) at Jan. 29, 2022		(2,050,000)				(2,050,000)
Restricted stock issued (in shares)	88,000
Issued under director and stock plans	$ 2					$ 2
Issued under director and stock plans (in shares)	74,000
Share-based compensation expense	$ 7					7
Shares of common stock used to satisfy tax withholding obligations		$ (1)				(1)
Shares of common stock used to satisfy tax withholding obligations (in shares)		(32,000)
Share repurchases		$ (89)				(89)
Share repurchases (in shares)		(2,650,000)
Net income			133		(1)	132
Cash dividends declared on common stock			(38)			(38)
Translation adjustment, net of tax				(44)		(44)
Change in cash flow hedges, net of tax				1		1
Pension and postretirement adjustments, net of tax				2		2
Ending Balance at Apr. 30, 2022	$ 779	$ (178)	2,995	(384)	3	$ 3,215
Ending Balance (in shares) at Apr. 30, 2022	99,233,000					99,233,112
Ending Balance (in treasury shares) at Apr. 30, 2022		(4,732,000)				(4,731,931)
Cumulative effect of the adoption new ASUs	$ 779	$ (178)	$ 2,995	$ (384)	$ 3	$ 3,215
[1]	The balance sheet at January 29, 2022 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 29, 2022.

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Apr. 30, 2022	May 01, 2021
Statement of Stockholders' Equity [Abstract]
Cash dividends declared on common stock, per share	$ 0.40	$ 0.20

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2022	May 01, 2021
From operating activities:
Net income	$ 132	$ 202
Adjustments to reconcile net income to net cash provided by operating activities:
Non-cash impairment and other charges	3	2
Fair value adjustments to minority investments	25
Depreciation and amortization	54	45
Deferred income taxes	3	7
Share-based compensation expense	7	8
Change in assets and liabilities:
Merchandise inventories	(150)	(94)
Accounts payable	(25)	255
Accrued and other liabilities	(80)	(25)
Insurance receivable for inventory loss		8
Other, net	10	(10)
Net cash (used in) provided by operating activities	(21)	398
From investing activities:
Capital expenditures	(95)	(51)
Purchase of business, net of cash acquired	(7)
Minority investments	(3)	(8)
Proceeds from sale of property		3
Insurance proceeds related to loss on property and equipment		2
Net cash used in investing activities	(105)	(54)
From financing activities:
Purchase of treasury shares	(89)	(34)
Dividends paid on common stock	(38)	(21)
Payment of obligations under finance leases	(2)
Proceeds from exercise of stock options	2	4
Shares of common stock repurchased to satisfy tax withholding obligations	(1)	(10)
Net cash used in financing activities	(128)	(61)
Effect of exchange rate fluctuations on cash, cash equivalents, and restricted cash	(1)
Net change in cash, cash equivalents, and restricted cash	(255)	283
Cash, cash equivalents, and restricted cash at beginning of year	850	1,718
Cash, cash equivalents, and restricted cash at end of period	595	2,001
Cash paid during the year:
Interest	8	1
Income taxes	18	32
Cash paid for amounts included in measurement of operating lease liabilities:	174	179
Non-cash investing and financing activities:
Right-of-use assets obtained in exchange for lease obligations:	$ 138	$ 114

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Apr. 30, 2022
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 April 30, 2022 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 2022. Specifically, the ongoing COVID-19 pandemic and its continuing effect on our operations and traffic to our stores, as well as port delays, 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 2021 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	3 Months Ended
	Apr. 30, 2022
Business Combinations [Abstract]
Acquisition	2. Acquisitions In 2021, we acquired WSS and atmos, two businesses that will allow us to further differentiate our product offerings, as well as our customer base, and diversify our retail store and omnichannel portfolio. WSS During the thirteen weeks ended April 30, 2022, we paid an additional $4 million upon the finalization of the value of net assets acquired, with a corresponding increase to goodwill as compared with the amounts presented in the most recent annual report. The aggregate purchase price for the acquisition has increased to $811 million ($741 million, net of cash acquired). ​ 2. Acquisitions (continued) The following table represents the final allocation of the purchase price for WSS. ​ ​ ​ ​ ($ in millions) ​ Assets acquired: ​ Cash and cash equivalents ​ $ 70 Merchandise inventories ​ 82 Other current assets ​ 10 Property and equipment, net ​ 133 Operating lease right-of-use assets ​ ​ 143 Tradenames ​ 296 Customer relationships ​ ​ 13 Other assets ​ 4 Liabilities assumed: ​ Accounts payable ​ $ (58) Current portion of obligations under finance leases ​ ​ (3) Current portion of lease obligations ​ ​ (19) Long-term portion of obligations under finance leases ​ ​ (50) Long-term lease obligations ​ ​ (127) Deferred taxes ​ ​ (84) Other liabilities ​ (4) ​ ​ ​ ​ Goodwill ​ ​ 405 Total purchase price ​ $ 811 ​ atmos During the thirteen weeks ended April 30, 2022, we paid an additional $3 million in connection with the finalization of certain post-closing conditions. The aggregate purchase price for the acquisition has increased to $363 million, subject to adjustment for the finalization of the value of net assets acquired and other post-closing matters. The acquisition was funded with available cash. The preliminary purchase price includes contingent consideration initially measured at $35 million, which can reach up to $111 million based on achieving certain revenue growth and EBITDA performance targets. The fair value of the contingent consideration has not changed from the initial measurement. The preliminary purchase price does not yet reflect the finalization of the net working capital provisions and other post-closing adjustments. At closing, we placed $30 million in escrow, and an additional $11 million will be payable if certain post-closing conditions are satisfied. We made a payment of $5 million during the second quarter of 2022 and expect to finalize the other amounts by the end of this fiscal year. The following table represents the preliminary allocation of the purchase price for atmos and includes fair value adjustments to certain assets and liabilities since our most recent annual report. Goodwill remained unchanged at $242 million from the amount reported at year end, however changes included the additional purchase price, revised downward valuation of the tradenames and the addition of the customer list intangible. The adjustments did not have a significant effect on the consolidated results of operations. We determined that the atmos tradenames will have an indefinite life and will not be amortized. We are assessing the tax deductibility of the goodwill related to the acquisition. ​ 2. Acquisitions (continued) The following table represents the preliminary allocation of the purchase price for atmos. ​ ​ ​ ​ ​ ($ in millions) ​ Assets acquired: ​ Cash and cash equivalents ​ $ 6 Merchandise inventories ​ 22 Other current assets ​ 12 Property and equipment, net ​ 7 Operating lease right-of-use assets ​ ​ 44 Tradenames ​ 130 Customer relationships ​ ​ 9 Other assets ​ 6 Liabilities assumed: ​ ​ Accounts payable ​ $ (10) Current portion of lease obligations ​ ​ (10) Other current liabilities ​ ​ (8) Long-term lease obligations ​ ​ (35) Deferred taxes ​ ​ (44) Other liabilities ​ (8) ​ ​ ​ ​ Goodwill (1) ​ ​ 242 Total purchase price (2) ​ $ 363 ​ (1) Goodwill represented on this table is at the exchange rate in effect as of the date of acquisition. (2) Total purchase price consists of $328 million in cash and $35 million of contingent consideration .

Revenue

Revenue	3 Months Ended
	Apr. 30, 2022
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 ​ April 30, ​ May 1, ($ in millions) 2022 2021 Sales by Channel ​ ​ ​ ​ ​ Stores $ 1,776 ​ $ 1,620 Direct-to-customers 399 ​ 533 Total sales $ 2,175 ​ $ 2,153 ​ Sales disaggregated based upon geographic area are presented in the table below. Sales are attributable to the geographic area in which the sales transaction is fulfilled. ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ April 30, ​ May 1, ($ in millions) 2022 2021 Sales by Geography ​ ​ ​ ​ ​ United States $ 1,632 ​ $ 1,713 International 543 ​ 440 Total sales $ 2,175 ​ $ 2,153 ​ 3. Revenue (continued) 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. ​ ​ ​ ​ ​ ​ ​ ​ ​ April 30, ​ May 1, ($ in millions) ​ 2022 ​ 2021 Gift card liability at beginning of year ​ $ 46 ​ $ 41 Redemptions ​ ​ (65) ​ ​ (56) Breakage recognized in sales ​ ​ (4) ​ ​ (4) Activations ​ ​ 60 ​ ​ 62 Gift card liability ​ $ 37 ​ $ 43 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	3 Months Ended
	Apr. 30, 2022
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 ​ ​ April 30, ​ May 1, ($ in millions) 2022 2021 Sales ​ $ 2,175 ​ $ 2,153 ​ ​ ​ ​ ​ ​ ​ Operating Results ​ ​ Division profit ​ ​ 260 ​ ​ 315 Less: Impairment and other charges (1) ​ 6 ​ 4 Less: Corporate expense (2) ​ 37 ​ 29 Income from operations ​ 217 ​ 282 Interest expense, net ​ (5) ​ (2) Other (expense) / income, net (3) ​ (22) ​ 4 Income before income taxes ​ $ 190 ​ $ 284 (1) We recorded pre-tax charges of $6 million and $4 million during the first quarter of 2022 and 2021, respectively, 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. (3) Other (expense) income, net for the thirteen weeks ended April 30, 2022 primarily consisted of a $25 million loss on the change in fair value of our investment in Retailors, Ltd., a publicly-listed entity, which was partially offset by other income. ​

Impairment and Other Charges

Impairment and Other Charges	3 Months Ended
	Apr. 30, 2022
Impairment and Other Charges [Abstract]
Impairment and Other Charges	5. Impairment and Other Charges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ ​ April 30, ​ May 1, ($ in millions) 2022 2021 Impairment of long-lived assets and right-of-use assets ​ $ 3 ​ $ — Acquisition and integration costs ​ ​ 2 ​ ​ — Other ​ ​ 1 ​ ​ — Impairment of investments ​ ​ — ​ ​ 2 Reorganization costs ​ ​ — ​ ​ 2 Total impairment and other charges ​ $ 6 ​ $ 4 ​ During the first quarter of 2022, we recorded impairment charges of $3 million related to long-lived assets and right-of-use assets as well as accelerated tenancy charges, $2 million of acquisition and integration costs related to WSS and atmos, and $1 million of other expenses. In the first quarter of 2021, we recorded an impairment charge of $2 million related to the underperformance of one of our minority investments. Additionally, in connection with the reorganization of certain support functions, we recorded severance charges of $2 million.

Cash, Cash Equivalents, and Res

Cash, Cash Equivalents, and Restricted Cash	3 Months Ended
	Apr. 30, 2022
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. ​ ​ ​ ​ ​ ​ ​ ​ ​ April 30, ​ May 1, ($ in millions) 2022 2021 Cash and cash equivalents ​ $ 551 ​ $ 1,963 Restricted cash included in other current assets ​ ​ 8 ​ ​ 8 Restricted cash included in other non-current assets ​ ​ 36 ​ ​ 30 Cash, cash equivalents, and restricted cash ​ $ 595 ​ $ 2,001 ​ 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	3 Months Ended
	Apr. 30, 2022
Goodwill and Other Intangible Assets, Net [Abstract]
Goodwill	7. Goodwill See footnote 2, Acquisitions 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	3 Months Ended
	Apr. 30, 2022
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: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ April 30, 2022 ​ ​ May 1, 2021 ​ ​ Gross ​ Accum. ​ Net ​ Gross ​ Accum. ​ Net ($ in millions) ​ value ​ amort. ​ value ​ value ​ amort. ​ value Amortized intangible assets: (1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lease acquisition costs ​ $ 101 ​ $ (98) ​ $ 3 ​ $ 119 ​ $ (115) ​ $ 4 Trademarks/tradenames (2) ​ ​ 18 ​ ​ (18) ​ ​ — ​ ​ 20 ​ ​ (17) ​ ​ 3 Customer lists ​ ​ 20 ​ ​ (4) ​ ​ 16 ​ ​ — ​ ​ — ​ ​ — ​ ​ $ 139 ​ $ (120) ​ $ 19 ​ $ 139 ​ $ (132) ​ $ 7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Indefinite life intangible assets: (1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trademarks/tradenames ​ ​ ​ ​ ​ ​ ​ $ 422 ​ ​ ​ ​ ​ ​ ​ $ 9 Other intangible assets, net ​ ​ ​ ​ ​ ​ ​ $ 441 ​ ​ ​ ​ ​ ​ ​ $ 16 (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. (2) During the fourth quarter of 2021, we recorded a non-cash impairment charge related to the Footaction tradename. In connection with the acquisitions of WSS and atmos, we recognized indefinite life intangible assets of $296 million for WSS related tradenames and $130 million for atmos related tradenames. Additionally, we recognized customer list intangible assets of $13 million for WSS and $9 million for atmos, both of which will be amortized over 3 years. The intangibles related to atmos were originally recorded at the exchange rate in effect as of the date of acquisition and are presented in the above table at current period exchange rates. Amortizing intangible assets primarily represent the WSS and atmos customer lists, lease acquisition costs, which are amounts that are required to secure prime lease locations and other lease rights, primarily in Europe. Amortization expense recorded is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ ​ April 30, ​ May 1, ($ in millions) 2022 2021 Amortization expense ​ $ 3 ​ $ 1 ​ Estimated future amortization expense for finite-life intangible assets is as follows: ​ ​ ​ ​ ($ in millions) ​ Remainder of 2022 ​ $ 6 2023 ​ ​ 7 2024 ​ 5 2025 ​ ​ 1 ​

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Apr. 30, 2022
Accumulated Other Comprehensive Loss [Abstract]
Comprehensive Income (Loss) Note [Text Block]	​ ​ 9. Accumulated Other Comprehensive Loss Accumulated other comprehensive loss (“AOCL”), net of tax, is comprised of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ April 30, ​ May 1, ​ January 29, ($ in millions) 2022 2021 2022 Foreign currency translation adjustments ​ $ (151) ​ $ (60) ​ $ (107) Cash flow hedges ​ 1 ​ (1) ​ ​ — Unrecognized pension cost and postretirement benefit ​ (234) ​ (265) ​ ​ (236) ​ ​ $ (384) ​ $ (326) ​ $ (343) ​ The changes in AOCL for the thirteen weeks ended April 30, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign ​ ​ ​ ​ Items Related ​ ​ ​ ​ ​ Currency ​ ​ ​ ​ to Pension and ​ ​ ​ ​ ​ Translation ​ Cash Flow ​ Postretirement ​ ​ ​ ($ in millions) Adjustments Hedges Benefits Total Balance as of January 29, 2022 ​ $ (107) ​ ​ — ​ $ (236) ​ $ (343) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ OCI before reclassification ​ (44) ​ ​ 1 ​ ​ 1 ​ (42) Amortization of pension actuarial loss, net of tax ​ — ​ ​ — ​ ​ 1 ​ 1 Pension remeasurement, net of tax ​ — ​ ​ — ​ ​ — ​ ​ — Other comprehensive income ​ (44) ​ 1 ​ 2 ​ (41) Balance as of April 30, 2022 ​ $ (151) ​ $ 1 ​ $ (234) ​ $ (384) ​ Reclassifications from AOCL for the thirteen weeks ended April 30, 2022 were as follows: ​ ​ ​ ​ ($ in millions) ​ Amortization of actuarial loss: ​ Pension benefits ​ $ 2 Income tax benefit ​ (1) Total, net of tax ​ $ 1 ​

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Apr. 30, 2022
Fair Value Measurements [Abstract]
Fair Value Measurements	10. 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. 10. Fair Value Measurements (continued) In 2021, we invested $68 million to take a common stock minority stake in a public entity, Retailors, Ltd, which is traded on the Tel Aviv stock exchange. This investment is classified as a Level 1 instrument since the fair value is readily available in an active market. The fair value of the auction rate security, classified as available-for-sale, is determined by using quoted prices for similar instruments in active markets and accordingly is classified as a Level 2 instrument. The fair value of the contingent consideration liability associated with the atmos acquisition is estimated using an option pricing model simulation that determines an average projected payment value across numerous iterations. Our derivative financial instruments are valued using market-based inputs to valuation models. These valuation models require a variety of inputs, including contractual terms, market prices, yield curves, and measures of volatility and, therefore, are classified as Level 2 instruments. Assets and Liabilities Measured at Fair Value on a Recurring Basis ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ($ in millions) ​ As of April 30, 2022 ​ As of May 1, 2021 ​ Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets ​ ​ ​ ​ ​ ​ Minority investment in common stock ​ $ 120 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Available-for-sale security ​ ​ — ​ ​ 6 ​ ​ — ​ ​ — ​ ​ 7 ​ ​ — Foreign exchange forward contracts ​ — ​ 2 ​ — ​ — ​ 2 ​ — Total assets ​ $ 120 ​ $ 8 ​ $ — ​ $ — ​ $ 9 ​ $ — Liabilities ​ ​ ​ ​ ​ ​ Contingent consideration ​ — ​ — ​ 35 ​ — ​ — ​ — Foreign exchange forward contracts ​ — ​ — ​ — ​ — ​ 4 ​ — Total liabilities ​ $ — ​ $ — ​ $ 35 ​ $ — ​ $ 4 ​ $ — ​ 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 $579 million and $323 million as of April 30, 2022 and May 1, 2021, respectively. ​ 10. Fair Value Measurements (continued) 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 April 30, 2022 includes the $400 million 4% Notes. The carrying value and estimated fair value of long-term debt were as follows: ​ ​ ​ ​ ​ ​ ​ ($ in millions) April 30, 2022 May 1, 2021 Carrying value (1) ​ $ 394 ​ $ 99 Fair value ​ $ 332 ​ $ 104 (1) The carrying value of debt as of April 30, 2022 reflects $6 million of issuer’s discount and costs related to the 4% Notes. The carrying values of cash and cash equivalents, and other current receivables and payables approximate their fair value.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Apr. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	11. 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 ​ ​ April 30, ​ May 1, (in millions, except per share data) 2022 2021 Net income attributable to Foot Locker, Inc. ​ $ 133 ​ $ 202 ​ ​ ​ ​ ​ ​ ​ Weighted-average common shares outstanding ​ 96.1 ​ 103.6 Dilutive effect of potential common shares ​ 1.1 ​ 1.4 Weighted-average common shares outstanding assuming dilution ​ 97.2 ​ 105.0 ​ ​ ​ ​ ​ ​ ​ Earnings per share - basic ​ $ 1.38 ​ $ 1.95 Earnings per share - diluted ​ $ 1.37 ​ $ 1.93 ​ ​ ​ ​ ​ ​ ​ Anti-dilutive share-based awards excluded from diluted calculation ​ 2.5 ​ 1.7 ​ Performance stock units related to our long-term incentive programs of 0.9 million and 0.4 million have been excluded from diluted weighted-average shares for the periods ended April 30, 2022 and May 1, 2021, 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	3 Months Ended
	Apr. 30, 2022
Retirement Plans and Other Benefits [Abstract]
Retirement Plans and Other Benefits	12. 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 ​ ​ ​ April 30, ​ ​ May 1, ($ in millions) ​ ​ 2022 ​ ​ 2021 Service cost ​ $ 4 ​ $ 4 Interest cost ​ ​ 5 ​ 4 Expected return on plan assets ​ ​ (8) ​ (9) Amortization of net loss ​ ​ 2 ​ 3 Net benefit expense ​ $ 3 ​ $ 2 ​

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Apr. 30, 2022
Share-Based Compensation [Abstract]
Share-Based Compensation	13. 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 ​ ​ April 30, ​ May 1, ($ in millions) ​ 2022 ​ 2021 Options and employee stock purchase plan ​ $ 1 ​ $ 2 Restricted stock units and performance stock units ​ 6 ​ 6 Total share-based compensation expense ​ $ 7 ​ $ 8 ​ ​ ​ ​ ​ ​ ​ Tax benefit recognized ​ $ 1 ​ $ 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 thirteen weeks ended April 30, 2022 and May 1, 2021. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock Option Plans ​ ​ Stock Purchase Plan ​ ​ ​ April 30, ​ May 1, ​ April 30, ​ May 1, ​ ​ 2022 2021 2022 2021 Weighted-average risk free rate of interest ​ 2.3 % ​ 0.9 % ​ 0.1 % ​ 0.2 % Expected volatility ​ 50 % ​ 47 % ​ 40 % ​ 48 % Weighted-average expected award life (in years) ​ 5.5 ​ 5.5 ​ 1.0 ​ 1.0 Dividend yield ​ 3.9 % ​ 1.5 % ​ 1.8 % ​ 5.6 % Weighted-average fair value ​ $ 10.42 ​ $ 20.22 ​ $ 29.46 ​ $ 6.35 ​ ​ 13. Share-Based Compensation (continued) The information in the table below provides activity under our stock option plans for the thirteen weeks ended April 30, 2022. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 3,211 ​ ​ ​ $ 48.84 Granted 506 ​ ​ ​ 30.97 Exercised (74) ​ ​ ​ 28.75 Expired or cancelled (115) ​ ​ ​ 54.60 Options outstanding at April 30, 2022 3,528 ​ 5.5 ​ $ 46.51 Options exercisable at April 30, 2022 2,665 ​ 4.3 ​ $ 51.41 Options available for future grant at April 30, 2022 ​ 2,296 ​ ​ ​ ​ ​ ​ ​ The total fair value of options vested during thirteen weeks ended April 30, 2022 and May 1, 2021 was $4 million for both periods. The cash received and related tax benefits realized from option exercises during the thirteen weeks ended April 30, 2022 were $2 million and not significant, respectively. The total intrinsic value of options exercised (the difference between the market price of our common stock on the exercise date and the price paid by the optionee to exercise the option) is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ ​ April 30, ​ May 1, ($ in millions) 2022 2021 Exercised ​ $ — ​ $ 3 ​ 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: ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ ​ April 30, ​ May 1, ($ in millions) ​ 2022 ​ 2021 Outstanding ​ $ 6 ​ $ 48 Outstanding and exercisable ​ $ 4 ​ $ 27 ​ As of April 30, 2022, there was $7 million of total unrecognized compensation cost related to nonvested stock options which is expected to be recognized over a remaining weighted-average period of 1.8 years. 13. Share-Based Compensation (continued) The table below summarizes information about stock options outstanding and exercisable at April 30, 2022. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 1,372 ​ 7.7 ​ $ 26.18 624 ​ $ 24.04 $44.78 - $48.98 453 ​ 3.6 ​ 45.02 452 ​ 45.02 $53.61 - $58.94 510 ​ 6.3 ​ 56.66 396 ​ 57.48 $62.02 - $72.83 ​ 1,193 ​ 3.3 ​ 66.13 1,193 ​ 66.13 ​ 3,528 5.5 ​ $ 46.51 2,665 ​ $ 51.41 ​ 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 officers and certain key employees in connection with our long-term incentive program. 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 thirteen weeks ended April 30, 2022 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 ​ 1,391 ​ ​ ​ $ 43.95 Granted ​ 979 ​ ​ ​ 30.17 Vested ​ (88) ​ ​ ​ 58.39 Performance adjustment (1) ​ ​ (22) ​ ​ ​ ​ ​ ​ Forfeited ​ (21) ​ ​ ​ 35.15 Nonvested at April 30, 2022 ​ 2,239 ​ 2.0 ​ $ 36.85 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Aggregate value ($ in millions) ​ $ 83 ​ ​ ​ (1) This represents adjustments made to PSUs reflecting changes in estimates based upon our current performance against predefined financial targets. ​ 13. Share-Based Compensation (continued) The total value of RSU and PSU awards that vested during the thirteen weeks ended April 30, 2022 and May 1, 2021 was $5 million and $21 million, respectively. As of April 30, 2022, there was $54 million of total unrecognized compensation cost related to nonvested awards.

Legal Proceedings

Legal Proceedings	3 Months Ended
	Apr. 30, 2022
Legal Proceedings [Abstract]
Legal Proceedings	14. 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.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policy)	3 Months Ended
	Apr. 30, 2022
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 April 30, 2022 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 2022. Specifically, the ongoing COVID-19 pandemic and its continuing effect on our operations and traffic to our stores, as well as port delays, 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 2021 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)	3 Months Ended
	Apr. 30, 2022
WSS [Member]
Business Combination Segment Allocation [Line Items]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table represents the final allocation of the purchase price for WSS. ​ ​ ​ ​ ($ in millions) ​ Assets acquired: ​ Cash and cash equivalents ​ $ 70 Merchandise inventories ​ 82 Other current assets ​ 10 Property and equipment, net ​ 133 Operating lease right-of-use assets ​ ​ 143 Tradenames ​ 296 Customer relationships ​ ​ 13 Other assets ​ 4 Liabilities assumed: ​ Accounts payable ​ $ (58) Current portion of obligations under finance leases ​ ​ (3) Current portion of lease obligations ​ ​ (19) Long-term portion of obligations under finance leases ​ ​ (50) Long-term lease obligations ​ ​ (127) Deferred taxes ​ ​ (84) Other liabilities ​ (4) ​ ​ ​ ​ Goodwill ​ ​ 405 Total purchase price ​ $ 811
atmos [Member]
Business Combination Segment Allocation [Line Items]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table represents the preliminary allocation of the purchase price for atmos. ​ ​ ​ ​ ​ ($ in millions) ​ Assets acquired: ​ Cash and cash equivalents ​ $ 6 Merchandise inventories ​ 22 Other current assets ​ 12 Property and equipment, net ​ 7 Operating lease right-of-use assets ​ ​ 44 Tradenames ​ 130 Customer relationships ​ ​ 9 Other assets ​ 6 Liabilities assumed: ​ ​ Accounts payable ​ $ (10) Current portion of lease obligations ​ ​ (10) Other current liabilities ​ ​ (8) Long-term lease obligations ​ ​ (35) Deferred taxes ​ ​ (44) Other liabilities ​ (8) ​ ​ ​ ​ Goodwill (1) ​ ​ 242 Total purchase price (2) ​ $ 363 ​ (1) Goodwill represented on this table is at the exchange rate in effect as of the date of acquisition. (2) Total purchase price consists of $328 million in cash and $35 million of contingent consideration .

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Apr. 30, 2022
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 ​ April 30, ​ May 1, ($ in millions) 2022 2021 Sales by Channel ​ ​ ​ ​ ​ Stores $ 1,776 ​ $ 1,620 Direct-to-customers 399 ​ 533 Total sales $ 2,175 ​ $ 2,153
Revenue from External Customers by Geographic Areas	Sales disaggregated based upon geographic area are presented in the table below. Sales are attributable to the geographic area in which the sales transaction is fulfilled. ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ April 30, ​ May 1, ($ in millions) 2022 2021 Sales by Geography ​ ​ ​ ​ ​ United States $ 1,632 ​ $ 1,713 International 543 ​ 440 Total sales $ 2,175 ​ $ 2,153
Activity of Gift Card Liability Balance	​ ​ ​ ​ ​ ​ ​ ​ ​ April 30, ​ May 1, ($ in millions) ​ 2022 ​ 2021 Gift card liability at beginning of year ​ $ 46 ​ $ 41 Redemptions ​ ​ (65) ​ ​ (56) Breakage recognized in sales ​ ​ (4) ​ ​ (4) Activations ​ ​ 60 ​ ​ 62 Gift card liability ​ $ 37 ​ $ 43

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Apr. 30, 2022
Segment Information [Abstract]
Sales and Division Operating Results for Reportable Segments	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 ​ ​ April 30, ​ May 1, ($ in millions) 2022 2021 Sales ​ $ 2,175 ​ $ 2,153 ​ ​ ​ ​ ​ ​ ​ Operating Results ​ ​ Division profit ​ ​ 260 ​ ​ 315 Less: Impairment and other charges (1) ​ 6 ​ 4 Less: Corporate expense (2) ​ 37 ​ 29 Income from operations ​ 217 ​ 282 Interest expense, net ​ (5) ​ (2) Other (expense) / income, net (3) ​ (22) ​ 4 Income before income taxes ​ $ 190 ​ $ 284 (1) We recorded pre-tax charges of $6 million and $4 million during the first quarter of 2022 and 2021, respectively, 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. (3) Other (expense) income, net for the thirteen weeks ended April 30, 2022 primarily consisted of a $25 million loss on the change in fair value of our investment in Retailors, Ltd., a publicly-listed entity, which was partially offset by other income.
Disaggregation of Revenue	The table below presents sales disaggregated based upon sales channel. Sales are attributable to the channel in which the sales transaction is initiated. ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ April 30, ​ May 1, ($ in millions) 2022 2021 Sales by Channel ​ ​ ​ ​ ​ Stores $ 1,776 ​ $ 1,620 Direct-to-customers 399 ​ 533 Total sales $ 2,175 ​ $ 2,153

Impairment and Other Charges (T

Impairment and Other Charges (Tables)	3 Months Ended
	Apr. 30, 2022
Impairment and Other Charges [Abstract]
Schedule of Impairment and Other Charges	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ ​ April 30, ​ May 1, ($ in millions) 2022 2021 Impairment of long-lived assets and right-of-use assets ​ $ 3 ​ $ — Acquisition and integration costs ​ ​ 2 ​ ​ — Other ​ ​ 1 ​ ​ — Impairment of investments ​ ​ — ​ ​ 2 Reorganization costs ​ ​ — ​ ​ 2 Total impairment and other charges ​ $ 6 ​ $ 4

Cash, Cash Equivalents, and R_2

Cash, Cash Equivalents, and Restricted Cash (Tables)	3 Months Ended
	Apr. 30, 2022
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. ​ ​ ​ ​ ​ ​ ​ ​ ​ April 30, ​ May 1, ($ in millions) 2022 2021 Cash and cash equivalents ​ $ 551 ​ $ 1,963 Restricted cash included in other current assets ​ ​ 8 ​ ​ 8 Restricted cash included in other non-current assets ​ ​ 36 ​ ​ 30 Cash, cash equivalents, and restricted cash ​ $ 595 ​ $ 2,001

Other Intangible Assets, Net (T

Other Intangible Assets, Net (Tables)	3 Months Ended
	Apr. 30, 2022
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: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ April 30, 2022 ​ ​ May 1, 2021 ​ ​ Gross ​ Accum. ​ Net ​ Gross ​ Accum. ​ Net ($ in millions) ​ value ​ amort. ​ value ​ value ​ amort. ​ value Amortized intangible assets: (1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lease acquisition costs ​ $ 101 ​ $ (98) ​ $ 3 ​ $ 119 ​ $ (115) ​ $ 4 Trademarks/tradenames (2) ​ ​ 18 ​ ​ (18) ​ ​ — ​ ​ 20 ​ ​ (17) ​ ​ 3 Customer lists ​ ​ 20 ​ ​ (4) ​ ​ 16 ​ ​ — ​ ​ — ​ ​ — ​ ​ $ 139 ​ $ (120) ​ $ 19 ​ $ 139 ​ $ (132) ​ $ 7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Indefinite life intangible assets: (1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trademarks/tradenames ​ ​ ​ ​ ​ ​ ​ $ 422 ​ ​ ​ ​ ​ ​ ​ $ 9 Other intangible assets, net ​ ​ ​ ​ ​ ​ ​ $ 441 ​ ​ ​ ​ ​ ​ ​ $ 16 (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. (2) During the fourth quarter of 2021, we recorded a non-cash impairment charge related to the Footaction tradename.
Amortization Expense	Amortization expense recorded is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ ​ April 30, ​ May 1, ($ in millions) 2022 2021 Amortization expense ​ $ 3 ​ $ 1
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 2022 ​ $ 6 2023 ​ ​ 7 2024 ​ 5 2025 ​ ​ 1

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Apr. 30, 2022
Accumulated Other Comprehensive Loss [Abstract]
Accumulated Other Comprehensive Loss	Accumulated other comprehensive loss (“AOCL”), net of tax, is comprised of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ April 30, ​ May 1, ​ January 29, ($ in millions) 2022 2021 2022 Foreign currency translation adjustments ​ $ (151) ​ $ (60) ​ $ (107) Cash flow hedges ​ 1 ​ (1) ​ ​ — Unrecognized pension cost and postretirement benefit ​ (234) ​ (265) ​ ​ (236) ​ ​ $ (384) ​ $ (326) ​ $ (343)
Changes in Accumulated Other Comprehensive Loss	The changes in AOCL for the thirteen weeks ended April 30, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign ​ ​ ​ ​ Items Related ​ ​ ​ ​ ​ Currency ​ ​ ​ ​ to Pension and ​ ​ ​ ​ ​ Translation ​ Cash Flow ​ Postretirement ​ ​ ​ ($ in millions) Adjustments Hedges Benefits Total Balance as of January 29, 2022 ​ $ (107) ​ ​ — ​ $ (236) ​ $ (343) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ OCI before reclassification ​ (44) ​ ​ 1 ​ ​ 1 ​ (42) Amortization of pension actuarial loss, net of tax ​ — ​ ​ — ​ ​ 1 ​ 1 Pension remeasurement, net of tax ​ — ​ ​ — ​ ​ — ​ ​ — Other comprehensive income ​ (44) ​ 1 ​ 2 ​ (41) Balance as of April 30, 2022 ​ $ (151) ​ $ 1 ​ $ (234) ​ $ (384)
Reclassification from Accumulated Other Comprehensive Loss	Reclassifications from AOCL for the thirteen weeks ended April 30, 2022 were as follows: ​ ​ ​ ​ ($ in millions) ​ Amortization of actuarial loss: ​ Pension benefits ​ $ 2 Income tax benefit ​ (1) Total, net of tax ​ $ 1

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Apr. 30, 2022
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 April 30, 2022 ​ As of May 1, 2021 ​ Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets ​ ​ ​ ​ ​ ​ Minority investment in common stock ​ $ 120 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Available-for-sale security ​ ​ — ​ ​ 6 ​ ​ — ​ ​ — ​ ​ 7 ​ ​ — Foreign exchange forward contracts ​ — ​ 2 ​ — ​ — ​ 2 ​ — Total assets ​ $ 120 ​ $ 8 ​ $ — ​ $ — ​ $ 9 ​ $ — Liabilities ​ ​ ​ ​ ​ ​ Contingent consideration ​ — ​ — ​ 35 ​ — ​ — ​ — Foreign exchange forward contracts ​ — ​ — ​ — ​ — ​ 4 ​ — Total liabilities ​ $ — ​ $ — ​ $ 35 ​ $ — ​ $ 4 ​ $ —
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) April 30, 2022 May 1, 2021 Carrying value (1) ​ $ 394 ​ $ 99 Fair value ​ $ 332 ​ $ 104 (1) The carrying value of debt as of April 30, 2022 reflects $6 million of issuer’s discount and costs related to the 4% Notes.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Apr. 30, 2022
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 ​ ​ April 30, ​ May 1, (in millions, except per share data) 2022 2021 Net income attributable to Foot Locker, Inc. ​ $ 133 ​ $ 202 ​ ​ ​ ​ ​ ​ ​ Weighted-average common shares outstanding ​ 96.1 ​ 103.6 Dilutive effect of potential common shares ​ 1.1 ​ 1.4 Weighted-average common shares outstanding assuming dilution ​ 97.2 ​ 105.0 ​ ​ ​ ​ ​ ​ ​ Earnings per share - basic ​ $ 1.38 ​ $ 1.95 Earnings per share - diluted ​ $ 1.37 ​ $ 1.93 ​ ​ ​ ​ ​ ​ ​ Anti-dilutive share-based awards excluded from diluted calculation ​ 2.5 ​ 1.7

Pension (Tables)

Pension (Tables)	3 Months Ended
	Apr. 30, 2022
Retirement Plans and Other Benefits [Abstract]
Net Benefit Expense (Income)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ ​ ​ April 30, ​ ​ May 1, ($ in millions) ​ ​ 2022 ​ ​ 2021 Service cost ​ $ 4 ​ $ 4 Interest cost ​ ​ 5 ​ 4 Expected return on plan assets ​ ​ (8) ​ (9) Amortization of net loss ​ ​ 2 ​ 3 Net benefit expense ​ $ 3 ​ $ 2

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Apr. 30, 2022
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 ​ ​ April 30, ​ May 1, ($ in millions) ​ 2022 ​ 2021 Options and employee stock purchase plan ​ $ 1 ​ $ 2 Restricted stock units and performance stock units ​ 6 ​ 6 Total share-based compensation expense ​ $ 7 ​ $ 8 ​ ​ ​ ​ ​ ​ ​ Tax benefit recognized ​ $ 1 ​ $ 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 thirteen weeks ended April 30, 2022 and May 1, 2021. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock Option Plans ​ ​ Stock Purchase Plan ​ ​ ​ April 30, ​ May 1, ​ April 30, ​ May 1, ​ ​ 2022 2021 2022 2021 Weighted-average risk free rate of interest ​ 2.3 % ​ 0.9 % ​ 0.1 % ​ 0.2 % Expected volatility ​ 50 % ​ 47 % ​ 40 % ​ 48 % Weighted-average expected award life (in years) ​ 5.5 ​ 5.5 ​ 1.0 ​ 1.0 Dividend yield ​ 3.9 % ​ 1.5 % ​ 1.8 % ​ 5.6 % Weighted-average fair value ​ $ 10.42 ​ $ 20.22 ​ $ 29.46 ​ $ 6.35 ​
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 3,211 ​ ​ ​ $ 48.84 Granted 506 ​ ​ ​ 30.97 Exercised (74) ​ ​ ​ 28.75 Expired or cancelled (115) ​ ​ ​ 54.60 Options outstanding at April 30, 2022 3,528 ​ 5.5 ​ $ 46.51 Options exercisable at April 30, 2022 2,665 ​ 4.3 ​ $ 51.41 Options available for future grant at April 30, 2022 ​ 2,296 ​ ​ ​ ​ ​ ​
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 ​ ​ April 30, ​ May 1, ($ in millions) 2022 2021 Exercised ​ $ — ​ $ 3
Aggregate Intrinsic Value for Stock Options Outstanding and Exercisable	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ ​ April 30, ​ May 1, ($ in millions) 2022 2021 Exercised ​ $ — ​ $ 3
Information about Stock Options Outstanding and Exercisable	The table below summarizes information about stock options outstanding and exercisable at April 30, 2022. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 1,372 ​ 7.7 ​ $ 26.18 624 ​ $ 24.04 $44.78 - $48.98 453 ​ 3.6 ​ 45.02 452 ​ 45.02 $53.61 - $58.94 510 ​ 6.3 ​ 56.66 396 ​ 57.48 $62.02 - $72.83 ​ 1,193 ​ 3.3 ​ 66.13 1,193 ​ 66.13 ​ 3,528 5.5 ​ $ 46.51 2,665 ​ $ 51.41
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 ​ 1,391 ​ ​ ​ $ 43.95 Granted ​ 979 ​ ​ ​ 30.17 Vested ​ (88) ​ ​ ​ 58.39 Performance adjustment (1) ​ ​ (22) ​ ​ ​ ​ ​ ​ Forfeited ​ (21) ​ ​ ​ 35.15 Nonvested at April 30, 2022 ​ 2,239 ​ 2.0 ​ $ 36.85 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Aggregate value ($ in millions) ​ $ 83 ​ ​ ​ (1) This represents adjustments made to PSUs reflecting changes in estimates based upon our current performance against predefined financial targets.

Acquisition (Narrative) (Detail

Acquisition (Narrative) (Details) $ in Millions	1 Months Ended	3 Months Ended			12 Months Ended
	Jun. 07, 2022USD ($)	Apr. 30, 2022USD ($)	Jan. 29, 2022USD ($)		Jan. 29, 2022USD ($)agreement		May 01, 2021USD ($)
Business Combination Segment Allocation [Line Items]
Purchase of business, net of cash acquired		$ 7
Goodwill		783	$ 797	[1]	$ 797	[1]	$ 159
Businesses acquired | agreement					2
atmos [Member]
Business Combination Segment Allocation [Line Items]
Payments to Acquire Businesses, Gross		3	30		$ 328
Purchase price		363
Contingent consideration		35	35		35
Post-closing payable		11
Goodwill		242	242		242
atmos [Member] | Subsequent Event [Member]
Business Combination Segment Allocation [Line Items]
Payments to Acquire Businesses, Gross	$ 5
atmos [Member] | Maximum [Member]
Business Combination Segment Allocation [Line Items]
Contingent consideration		111
WSS [Member]
Business Combination Segment Allocation [Line Items]
Payments to Acquire Businesses, Gross		$ 4
Purchase price					811
Purchase of business, net of cash acquired					741
Goodwill			$ 405		$ 405
[1]	The balance sheet at January 29, 2022 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 29, 2022.

Acquisition (Schedule of Assets

Acquisition (Schedule of Assets/Liabilities Acquired) (Details) - USD ($) $ in Millions	Apr. 30, 2022	Jan. 29, 2022		May 01, 2021
Business Combination Segment Allocation [Line Items]
Goodwill	$ 783	$ 797	[1]	$ 159
atmos [Member]
Business Combination Segment Allocation [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents		6
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory		22
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other		12
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment		7
Business Combination, Recognized Identifiable Assets Acquired, Right-of-use-assets		44
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets		130
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		9
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets		6
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable		(10)
Business Combination, Recognized Identifiable Liabilities Assumed, Current Portion of Obligations Under Finance Leases		(10)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other		(8)
Business Combination, Recognized Identifiable Liabilities Assumed, Long-term Lease Obligations		(35)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities		(44)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other		(8)
Goodwill	$ 242	242
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net, Total		363
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		82
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		133
Business Combination, Recognized Identifiable Assets Acquired, Right-of-use-assets		143
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets		296
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		13
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		(19)
Business Combination, Recognized Identifiable Liabilities Assumed, Long Term Portion of Obligations Under Finance Leases		(50)
Business Combination, Recognized Identifiable Liabilities Assumed, Long-term Lease Obligations		(127)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities		(84)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other		(4)
Goodwill		405
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net, Total		$ 811
[1]	The balance sheet at January 29, 2022 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 29, 2022.

Revenue (Schedule of Sales Disa

Revenue (Schedule of Sales Disaggregated by Sales Channel) (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2022	May 01, 2021
Sales	$ 2,175	$ 2,153
Store Sales Channel [Member]
Sales	1,776	1,620
Direct to Customers Sales Channel [Member]
Sales	$ 399	$ 533

Revenue (Schedule of Sales Di_2

Revenue (Schedule of Sales Disaggregated by Geographic Area) (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2022	May 01, 2021
Sales	$ 2,175	$ 2,153
United States
Sales	1,632	1,713
International [Member]
Sales	$ 543	$ 440

Revenue (Activity of Gift Card

Revenue (Activity of Gift Card Liability Balance) (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2022	May 01, 2021
Accrued gift card liability at beginning of period	$ 46	$ 41
Accrued gift card liability at end of period	37	43
Gift Card Redemption Revenue [Member]
Revenue recognized	(65)	(56)
Gift Card Breakage Revenue [Member]
Revenue recognized	(4)	(4)
Gift Card Activations [Member]
Activations	$ 60	$ 62

Segment Information (Sales and

Segment Information (Sales and Division Operating Results for Reportable Segments) (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2022	May 01, 2021
Segment Information [Abstract]
Sales	$ 2,175	$ 2,153
Division profit	260	315
Less: Impairment and other charges	6	4
Less: Corporate expense	37	29
Income from operations	217	282
Interest expense, net	(5)	(2)
Other (expense) / income, net	(22)	4
Income before income taxes	190	$ 284
Change in faire value of investment	$ 25

Impairment and Other Charges (S

Impairment and Other Charges (Schedule of Impairment and Other Charges) (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2022	May 01, 2021
Impairment and Other Charges [Abstract]
Impairment of long-lived assets and right-of-use assets	$ 3
Acquisition and integration costs	2
Other	1
Impairment of investments		$ 2
Reorganization costs		2
Total impairment and other charges	$ 6	$ 4

Impairment and Other Charges (N

Impairment and Other Charges (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2022	May 01, 2021
Impairment and Other Charges [Abstract]
Impairment of assets	$ 3
Other	1
Impairment of investments		$ 2
Acquisition and integration costs	$ 2
Reorganization costs		$ 2

Cash, Cash Equivalents, and R_3

Cash, Cash Equivalents, and Restricted Cash (Reconciliation of Cash and Cash Equivalents) (Details) - USD ($) $ in Millions	Apr. 30, 2022	Jan. 29, 2022		May 01, 2021	Jan. 30, 2021
Restricted Cash [Abstract]
Cash and cash equivalents	$ 551	$ 804	[1]	$ 1,963
Restricted cash included in other current assets	8			8
Restricted cash included in other non-current assets	36			30
Cash, cash equivalents, and restricted cash	$ 595	$ 850		$ 2,001	$ 1,718
[1]	The balance sheet at January 29, 2022 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 29, 2022.

Goodwill (Narrative) (Details)

Goodwill (Narrative) (Details) - USD ($) $ in Millions	Apr. 30, 2022	Jan. 29, 2022		May 01, 2021
Business Combination Segment Allocation [Line Items]
Goodwill	$ 783	$ 797	[1]	$ 159
WSS [Member]
Business Combination Segment Allocation [Line Items]
Goodwill		$ 405
[1]	The balance sheet at January 29, 2022 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 29, 2022.

Other Intangible Assets, Net (S

Other Intangible Assets, Net (Schedule of Other Intangible Asset) (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2022	Jan. 29, 2022	[1]	May 01, 2021
Intangible Assets by Major Class [Line Items]
Amortized intangible assets, Gross value	$ 139			$ 139
Amortized intangible assets, Accum. amort.	(120)			(132)
Amortized intangible assets, Net value	19			7
Other intangible assets, net	441	$ 454		16
Lease Acquisition Costs [Member]
Intangible Assets by Major Class [Line Items]
Amortized intangible assets, Gross value	101			119
Amortized intangible assets, Accum. amort.	(98)			(115)
Amortized intangible assets, Net value	3			4
Trademarks and Trade Names [Member]
Intangible Assets by Major Class [Line Items]
Amortized intangible assets, Gross value	18			20
Amortized intangible assets, Accum. amort.	(18)			(17)
Amortized intangible assets, Net value				3
Customer Lists [Member]
Intangible Assets by Major Class [Line Items]
Amortized intangible assets, Gross value	20
Amortized intangible assets, Accum. amort.	(4)
Amortized intangible assets, Net value	$ 16
Finite-Lived Intangible Assets, Remaining Amortization Period	3 years
atmos [Member] | Customer Lists [Member]
Intangible Assets by Major Class [Line Items]
Amortized intangible assets, Net value	$ 9
WSS [Member] | Customer Lists [Member]
Intangible Assets by Major Class [Line Items]
Amortized intangible assets, Net value	13
Trademarks and Trade Names [Member]
Intangible Assets by Major Class [Line Items]
Indefinite life intangible assets, Net Value	422			$ 9
Trademarks and Trade Names [Member] | atmos [Member]
Intangible Assets by Major Class [Line Items]
Indefinite life intangible assets, Net Value	130
Trademarks and Trade Names [Member] | WSS [Member]
Intangible Assets by Major Class [Line Items]
Indefinite life intangible assets, Net Value	$ 296
[1]	The balance sheet at January 29, 2022 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 29, 2022.

Other Intangible Assets, Net (A

Other Intangible Assets, Net (Amortization Expense) (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2022	May 01, 2021
Goodwill and Other Intangible Assets, Net [Abstract]
Amortization expense	$ 3	$ 1

Other Intangible Assets, Net (E

Other Intangible Assets, Net (Estimated Future Amortization Expense for Finite Lived Intangibles) (Details) $ in Millions	Apr. 30, 2022USD ($)
Goodwill and Other Intangible Assets, Net [Abstract]
Remainder of 2022	$ 6
2023	7
2024	5
2025	$ 1

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Schedule of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Millions	Apr. 30, 2022	Jan. 29, 2022		May 01, 2021
Accumulated Other Comprehensive Loss [Abstract]
Foreign currency translation adjustments	$ (151)	$ (107)		$ (60)
Cash flow hedges	1			(1)
Unrecognized pension cost and postretirement benefit	(234)	(236)		(265)
Accumulated other comprehensive loss ("AOCL"), net of tax	$ (384)	$ (343)	[1]	$ (326)
[1]	The balance sheet at January 29, 2022 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 29, 2022.

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss (Changes in Accumulated Other Comprehensive Loss) (Details) $ in Millions	3 Months Ended
	Apr. 30, 2022USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ (343)	[1]
OCI before reclassification	(42)
Amortization of pension actuarial (gain)/loss, net of tax	1
Other comprehensive income	(41)
Ending Balance	(384)
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(107)
OCI before reclassification	(44)
Amortization of pension actuarial (gain)/loss, net of tax
Other comprehensive income	(44)
Ending Balance	(151)
Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance
OCI before reclassification	1
Amortization of pension actuarial (gain)/loss, net of tax
Other comprehensive income	1
Ending Balance	1
Items Related to Pension and Postretirement Benefits [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(236)
OCI before reclassification	1
Amortization of pension actuarial (gain)/loss, net of tax	1
Other comprehensive income	2
Ending Balance	$ (234)
[1]	The balance sheet at January 29, 2022 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 29, 2022.

Accumulated Other Comprehensi_5

Accumulated Other Comprehensive Loss (Reclassifications from Accumulated Other Comprehensive Loss) (Details) $ in Millions	3 Months Ended
	Apr. 30, 2022USD ($)
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Income tax benefit	$ (1)
Total, net of tax	1
Pension Benefits [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Pension benefits	$ 2

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	Apr. 30, 2022	May 01, 2021
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	$ 120
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	120
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	8	$ 9
Liabilities measured at fair value on recurring basis		4
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	6	7
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities measured at fair value on recurring basis	35
Level 3 [Member] | Contingent Consideration [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities measured at fair value on recurring basis	35
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		4
Forward Foreign Exchange Contracts [Member] | Level 2 [Member] | Derivative Financial Instruments, Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets measured at fair value on recurring basis	$ 2	$ 2

Fair Value Measurements (Carryi

Fair Value Measurements (Carrying Value and Estimated Fair Value of Long-Term Debt) (Details) - USD ($) $ in Millions	Apr. 30, 2022	May 01, 2021
Fair Value Measurements [Abstract]
Long-term debt, Carrying value	$ 394	$ 99
Long-term debt, Fair value	332	$ 104
Debt discount	$ 6

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2022	Jan. 29, 2022	May 01, 2021
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
Equity method investment fair value	579		$ 323
Other	1
Increase (decrease) in minority interests	$ 68
Senior Notes Due 2029 [Member]
Interest rate	4.00%
Debt instrument, face amount	$ 400

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares shares in Millions	3 Months Ended
	Apr. 30, 2022	May 01, 2021
Earnings Per Share [Abstract]
Contingently issuable shares excluded from diluted earnings per share	0.9	0.4

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
	Apr. 30, 2022	May 01, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income/(loss)	$ 133	$ 202
Weighted-average common shares outstanding	96.1	103.6
Dilutive effect of potential common shares	1.1	1.4
Weighted-average common shares outstanding assuming dilution	97.2	105
Earnings per share - basic	$ 1.38	$ 1.95
Earnings per share - diluted	$ 1.37	$ 1.93
Stock Option Plans [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive share-based awards excluded from diluted calculation	2.5	1.7

Pension (Net Benefit Expense (I

Pension (Net Benefit Expense (Income)) (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2022	May 01, 2021
Retirement Plans and Other Benefits [Abstract]
Service cost	$ 4	$ 4
Interest cost	$ 5	$ 4
Interest cost, extensible enumeration	Other (expense) / income, net	Other (expense) / income, net
Expected return on plan assets	$ (8)	$ (9)
Expected return on plan assets, extensible enumeration	Other (expense) / income, net	Other (expense) / income, net
Amortization of net loss	$ 2	$ 3
Amortization of net loss, extensible enumeration	Other (expense) / income, net	Other (expense) / income, net
Net benefit expense (income)	$ 3	$ 2

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Apr. 30, 2022	May 01, 2021
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	2,296
Unrecognized compensation cost	$ 54
Fair value of options vested	4	$ 4
Proceeds from exercise of stock options	2	4
Restricted Stock and Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of awards	5	$ 21
Dividends	$ 0
Restricted Stock and Units [Member] | Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Restricted Stock and 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	$ 7
Unrecognized compensation cost related to nonvested stock options, weighted-average period expected to be recognized	1 year 9 months 18 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
	Apr. 30, 2022	May 01, 2021
Share-Based Compensation [Abstract]
Options and shares purchased under the employee stock purchase plan	$ 1	$ 2
Restricted stock units and performance stock units	6	6
Total share-based compensation expense	7	8
Tax benefit recognized	$ 1	$ 1

Share-Based Compensation (Assum

Share-Based Compensation (Assumptions Used to Compute Share-Based Compensation Expense) (Details) - $ / shares	3 Months Ended
	Apr. 30, 2022	May 01, 2021
Stock Option Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average risk free rate of interest	2.30%	0.90%
Expected volatility	50.00%	47.00%
Weighted-average expected award life (in years)	5 years 6 months	5 years 6 months
Dividend yield	3.90%	1.50%
Weighted-average fair value	$ 10.42	$ 20.22
2013 ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average risk free rate of interest	0.10%	0.20%
Expected volatility	40.00%	48.00%
Weighted-average expected award life (in years)	1 year	1 year
Dividend yield	1.80%	5.60%
Weighted-average fair value	$ 29.46	$ 6.35

Share-Based Compensation (Optio

Share-Based Compensation (Options Granted Under Stock Option Plans) (Details) shares in Thousands	3 Months Ended
	Apr. 30, 2022$ / sharesshares
Number of Shares
Options outstanding at beginning of year	3,211
Granted	506
Exercised	(74)
Expired or cancelled	(115)
Options outstanding at end of period	3,528
Options exercisable at end of period	2,665
Options available for future grant at end of period	2,296
Weighted-Average Exercise Price
Options outstanding at beginning of year | $ / shares	$ 48.84
Granted | $ / shares	30.97
Exercised | $ / shares	28.75
Expired or cancelled | $ / shares	54.60
Options outstanding at end of period | $ / shares	46.51
Options exercisable at end of period | $ / shares	$ 51.41
Options outstanding, weighted-average remaining contractual life	5 years 6 months
Options exercisable at end of period, Weighted-average remaining contractual life	4 years 3 months 18 days

Share-Based Compensation (Tot_2

Share-Based Compensation (Total Intrinsic Value of Options Exercised) (Details) $ in Millions	3 Months Ended
	May 01, 2021USD ($)
Intrinsic value of stock options
Exercised	$ 3

Share-Based Compensation (Aggre

Share-Based Compensation (Aggregate Intrinsic Value for Stock Options Outstanding and Exercisable) (Details) - USD ($) $ in Millions	Apr. 30, 2022	May 01, 2021
Share-Based Compensation [Abstract]
Outstanding	$ 6	$ 48
Outstanding and exercisable	$ 4	$ 27

Share-Based Compensation (Infor

Share-Based Compensation (Information about Stock Options Outstanding and Exercisable) (Details) - $ / shares shares in Thousands	3 Months Ended
	Apr. 30, 2022	Jan. 29, 2022
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Number of Shares	3,528	3,211
Options outstanding, weighted-average remaining contractual life	5 years 6 months
Options Outstanding, Weighted-Average Exercise Price	$ 46.51	$ 48.84
Options Exercisable, Number of Shares	2,665
Options Exercisable, Weighted-Average Exercise Price	$ 51.41
$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	1,372
Options outstanding, weighted-average remaining contractual life	7 years 8 months 12 days
Options Outstanding, Weighted-Average Exercise Price	$ 26.18
Options Exercisable, Number of Shares	624
Options Exercisable, Weighted-Average Exercise Price	$ 24.04
$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	453
Options outstanding, weighted-average remaining contractual life	3 years 7 months 6 days
Options Outstanding, Weighted-Average Exercise Price	$ 45.02
Options Exercisable, Number of Shares	452
Options Exercisable, Weighted-Average Exercise Price	$ 45.02
$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	510
Options outstanding, weighted-average remaining contractual life	6 years 3 months 18 days
Options Outstanding, Weighted-Average Exercise Price	$ 56.66
Options Exercisable, Number of Shares	396
Options Exercisable, Weighted-Average Exercise Price	$ 57.48
$62.02 - $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	1,193
Options outstanding, weighted-average remaining contractual life	3 years 3 months 18 days
Options Outstanding, Weighted-Average Exercise Price	$ 66.13
Options Exercisable, Number of Shares	1,193
Options Exercisable, Weighted-Average Exercise Price	$ 66.13

Share-Based Compensation (Chang

Share-Based Compensation (Changes in Nonvested Options) (Details) - Restricted Stock and Units [Member] $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	Apr. 30, 2022USD ($)$ / sharesshares
Number of Shares
Nonvested, Beginning Balance	1,391
Granted	979
Vested	(88)
Performance adjustment	(22)
Expired or cancelled	(21)	[1]
Nonvested, Ending Balance	2,239
Aggregate value | $	$ 83
Wtg. Avg. remaining contractual life (in years)	2 years
Weighted-Average Grant Date Fair Value per Share
Nonvested, Beginning Balance | $ / shares	$ 43.95
Granted | $ / shares	30.17
Vested | $ / shares	58.39
Cancelled | $ / shares	35.15	[1]
Nonvested, Ending Balance | $ / shares	$ 36.85
[1]	Weighted-Average