Kohl's (KSS) 10-Q 1 Dec 22 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Oct. 29, 2022	Nov. 25, 2022
Document Information [Line Items]
Entity Registrant Name	KOHL’S CORP
Entity Central Index Key	0000885639
Current Fiscal Year End Date	--01-28
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Oct. 29, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		110,484,128
Document Quarterly Report	true
Document Transition Report	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Incorporation, State or Country Code	WI
Entity Tax Identification Number	39-1630919
Entity File Number	1-11084
Entity Address, Address Line One	N56 W17000 Ridgewood Drive
Entity Address, City or Town	Menomonee Falls
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53051
City Area Code	262
Local Phone Number	703-7000
Common Stock, $.01 par value [Member]
Document Information [Line Items]
Title of each class	Common Stock, $.01 par value
Trading Symbol(s)	KSS
Name of each exchange on which registered	NYSE
Preferred Stock Purchase Rights [Member]
Document Information [Line Items]
Title of each class	Preferred Stock Purchase Rights
No Trading Symbol Flag	true
Name of each exchange on which registered	NYSE

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Oct. 29, 2022	Jan. 29, 2022	Oct. 30, 2021
Current assets:
Cash and cash equivalents	$ 194	$ 1,587	$ 1,873
Merchandise inventories	4,874	3,067	3,642
Other	366	369	373
Total current assets	5,434	5,023	5,888
Property and equipment, net	8,117	7,304	7,329
Operating leases	2,318	2,248	2,293
Other assets	365	479	441
Total assets	16,234	15,054	15,951
Current liabilities:
Accounts payable	2,014	1,683	2,135
Accrued liabilities	1,436	1,340	1,545
Borrowings under revolving credit facility	668
Current portion of:
Long-term debt	164
Finance lease and financing obligations	95	118	117
Operating leases	109	145	142
Total current liabilities	4,486	3,286	3,939
Long-term debt	1,747	1,910	1,909
Finance lease and financing obligations	2,791	2,133	2,072
Operating leases	2,595	2,479	2,537
Deferred income taxes	165	206	196
Other long-term liabilities	354	379	367
Shareholders’ equity:
Common stock	4	4	4
Paid-in capital	3,319	3,375	3,362
Treasury stock, at cost	(13,551)	(12,975)	(12,426)
Retained earnings	14,324	14,257	13,991
Total shareholders’ equity	4,096	4,661	4,931
Total liabilities and shareholders’ equity	$ 16,234	$ 15,054	$ 15,951

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 29, 2022	Oct. 30, 2021	Oct. 29, 2022	Oct. 30, 2021
Total revenue	$ 4,277	$ 4,600	$ 12,079	$ 12,934
Cost of merchandise sold	2,541	2,623	7,013	7,282
Operating expenses:
Selling, general, and administrative	1,334	1,380	3,910	3,791
Depreciation and amortization	202	210	608	631
Operating income	200	387	548	1,230
Interest expense, net	81	66	226	195
Loss on extinguishment of debt				201
Income before income taxes	119	321	322	834
Provision for income taxes	22	78	68	195
Net income	$ 97	$ 243	$ 254	$ 639
Net income per share:
Basic	$ 0.82	$ 1.67	$ 2.05	$ 4.24
Diluted	$ 0.82	$ 1.65	$ 2.02	$ 4.19
Net Sales [Member]
Total revenue	$ 4,052	$ 4,366	$ 11,386	$ 12,251
Other Revenue [Member]
Total revenue	$ 225	$ 234	$ 693	$ 683

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Millions	Total	Common Stock [Member]	Paid-In Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]
Balance, beginning of period at Jan. 30, 2021		$ 4	$ 3,319	$ (11,595)	$ 13,468
Treasury stock purchases				(807)
Stock-based awards			43	(26)
Net income	$ 639				639
Dividends paid				2	(116)
Balance, end of period at Oct. 30, 2021	$ 4,931	$ 4	3,362	$ (12,426)	13,991
Shares, beginning of period at Jan. 30, 2021		377		(219)
Treasury stock purchases				(16)
Shares, end of period at Oct. 30, 2021	142	377		(235)
Dividends paid per common share	$ 0.75
Balance, beginning of period at Jul. 31, 2021		$ 4	3,349	$ (11,920)	13,786
Treasury stock purchases				(506)
Stock-based awards			13	(1)
Net income	$ 243				243
Dividends paid				1	(38)
Balance, end of period at Oct. 30, 2021	$ 4,931	$ 4	3,362	$ (12,426)	13,991
Shares, beginning of period at Jul. 31, 2021		377		(225)
Treasury stock purchases				(10)
Shares, end of period at Oct. 30, 2021	142	377		(235)
Dividends paid per common share	$ 0.25
Balance, beginning of period at Jan. 29, 2022	$ 4,661	$ 4	3,375	$ (12,975)	14,257
Treasury stock purchases				(558)
Stock-based awards			44	(21)
Accelerated share repurchase pending final settlement			(100)
Net income	254				254
Dividends paid				3	(187)
Balance, end of period at Oct. 29, 2022	$ 4,096	$ 4	3,319	$ (13,551)	14,324
Shares, beginning of period at Jan. 29, 2022		377		(246)
Treasury stock purchases				(14)
Shares, end of period at Oct. 29, 2022	117	377		(260)
Dividends paid per common share	$ 1.50
Balance, beginning of period at Jul. 30, 2022		$ 4	3,406	$ (13,151)	14,285
Treasury stock purchases				(400)
Stock-based awards			13	(1)
Accelerated share repurchase pending final settlement			(100)
Net income	$ 97				97
Dividends paid				1	(58)
Balance, end of period at Oct. 29, 2022	$ 4,096	$ 4	$ 3,319	$ (13,551)	$ 14,324
Shares, beginning of period at Jul. 30, 2022		377		(249)
Treasury stock purchases				(11)
Shares, end of period at Oct. 29, 2022	117	377		(260)
Dividends paid per common share	$ 0.50

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Oct. 29, 2022	Oct. 30, 2021
Operating activities
Net income	$ 254	$ 639
Adjustments to reconcile net income to net cash (Used in) provided by operating activities:
Depreciation and amortization	608	631
Share-based compensation	37	35
Deferred income taxes	(41)	(103)
Loss on extinguishment of debt		201
Non-cash lease expense	81	107
Other non-cash expense	12	10
Changes in operating assets and liabilities:
Merchandise inventories	(1,802)	(1,044)
Other current and long-term assets	102	574
Accounts payable	331	659
Accrued and other long-term liabilities	76	172
Operating lease liabilities	(83)	(107)
Net cash (used in) provided by operating activities	(425)	1,774
Investing activities
Acquisition of property and equipment	(733)	(426)
Proceeds from sale of real estate	31	35
Net cash used in investing activities	(702)	(391)
Financing activities
Proceeds from issuance of debt		500
Net borrowings under revolving credit facility	668
Deferred financing costs		(8)
Treasury stock purchases	(658)	(807)
Shares withheld for taxes on vested restricted shares	(21)	(26)
Dividends paid	(184)	(114)
Reduction of long-term borrowings		(1,044)
Premium paid on redemption of debt		(192)
Finance lease and financing obligation payments	(81)	(96)
Proceeds from financing obligations	9	8
Proceeds from stock option exercises	1	1
Other		(3)
Net cash used in provided by financing activities	(266)	(1,781)
Net decrease in cash and cash equivalents	(1,393)	(398)
Cash and cash equivalents at beginning of period	1,587	2,271
Cash and cash equivalents at end of period	194	1,873
Supplemental information
Interest paid, net of capitalized interest	190	167
Income taxes paid	$ 53	$ 221

Basis of Presentation

Basis of Presentation	9 Months Ended
	Oct. 29, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation The accompanying Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for fiscal year end Consolidated Financial Statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. For further information, refer to the Consolidated Financial Statements and related footnotes included in our Annual Report on Form 10-K for the fiscal year ended January 29, 2022 (Commission File No. 1-11084) as filed with the Securities and Exchange Commission. Due to the seasonality of the business of Kohl’s Corporation (the “Company,” “Kohl’s,” “we,” “our,” or “us”), results for any quarter are not necessarily indicative of the results that may be achieved for a full fiscal year. We operate as a single business unit. Recent Accounting Pronouncements We do not expect that any recently issued accounting pronouncements will have a material impact on our Consolidated Financial Statements.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Oct. 29, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	2. Revenue Recognition The following table summarizes net sales by line of business: Three Months Ended Nine Months Ended (Dollars in Millions) October 29, 2022 October 30, 2021 October 29, 2022 October 30, 2021 Women's $ 1,106 $ 1,165 $ 3,422 $ 3,626 Men's 867 933 2,442 2,562 Home 566 680 1,593 1,923 Children's 599 678 1,424 1,609 Accessories 498 434 1,346 1,205 Footwear 416 476 1,159 1,326 Net Sales $ 4,052 $ 4,366 $ 11,386 $ 12,251 Unredeemed gift cards and merchandise return card liabilities totaled $ 285 million as of October 29, 2022, $ 353 million as of January 29, 2022, and $ 273 million as of October 30, 2021. In the third quarter of 2022 and 2021, net sales recognized from gift cards redeemed in the current period and issued in prior years totaled $ 22 million in both periods. Year to date 2022 and 2021, net sales of $ 135 million and $ 132 million, respectively, were recognized from gift cards redeemed during the current year and issued in prior years.

Debt

Debt	9 Months Ended
	Oct. 29, 2022
Debt Disclosure [Abstract]
Debt	3. Debt Borrowings under the revolving credit facility, recorded as short-term debt, has $ 668 million outstanding as of October 29, 2022. No amounts were outstanding at January 29, 2022 or October 30, 2021. Long-term debt, which excludes borrowings on the revolving credit facility, consists of the following unsecured debt: Outstanding Maturity (Dollars in Millions) Effective Rate at Issuance Coupon Rate October 29, January 29, October 30, 2023 3.25 % 3.25 % $ 164 $ 164 $ 164 2023 4.78 % 4.75 % 111 111 111 2025 9.50 % 9.75 % 113 113 113 2025 4.25 % 4.25 % 353 353 353 2029 7.36 % 7.25 % 42 42 42 2031 3.40 % 3.63 % 500 500 500 2033 6.05 % 6.00 % 112 112 112 2037 6.89 % 6.88 % 101 101 101 2045 5.57 % 5.55 % 427 427 427 Outstanding unsecured senior debt 1,923 1,923 1,923 Unamortized debt discounts and deferred financing costs ( 12 ) ( 13 ) ( 14 ) Current portion of unsecured senior debt ( 164 ) — — Long-term unsecured senior debt $ 1,747 $ 1,910 $ 1,909 Effective interest rate at issuance 4.89 % 4.89 % 4.89 % Our unsecured senior long-term debt is classified as Level 1, financial instruments with unadjusted, quoted prices listed on active market exchanges. The estimated fair value of our unsecured senior debt was $ 1.5 billion at October 29, 2022, $ 2.0 billion at January 29, 2022, and $ 2.1 billion at October 30, 2021. In September 2022, Standard & Poor's downgraded our credit rating from BBB- to BB+. As a result of the downgrade, the interest rate on our 3.375 % notes and 9.50 % notes increased 25 bps due to the coupon adjustment provisions within these notes. Additionally, in September 2022 Moody's placed our credit rating on review for downgrade. As of October 29, 2022, our rating at Moody’s remained under review. Our various debt agreements contain covenants including limitations on additional indebtedness and certain financial tests. As of October 29, 2022, we were in compliance with all covenants of the various debt agreements.

Leases

Leases	9 Months Ended
	Oct. 29, 2022
Leases [Abstract]
Leases	4. Leases We lease certain property and equipment used in our operations. Some of our store leases include additional rental payments based on a percentage of sales over contractual levels or payments that are adjusted periodically for inflation. Our typical store lease has an initial term of 20 to 25 years and four to eight five-year renewal options. Lease assets represent our right to use an underlying asset for the lease term. Lease assets are recognized at commencement date based on the value of the lease liability and are adjusted for any lease payments made to the lessor at or before commencement date, minus any lease incentives received and any initial direct costs incurred by the lessee. Lease liabilities represent our contractual obligation to make lease payments. At the commencement date, the lease liabilities equal the present value of minimum lease payments over the lease term. As the implicit interest rate is not readily identifiable in our leases, we estimate our collateralized borrowing rate to calculate the present value of lease payments. Leases with a term of 12 months or less are excluded from the balance; we recognize lease expense for these leases on a straight-line basis over the lease term. We combine lease and non-lease components for new and modified leases. Year to date, we opened 399 Sephora shop-in-shops within our Kohl's stores and now have 599 open as of the end of the third quarter. We plan on opening seven additional shop-in-shops in 2022 and at least 250 more shops in 2023. Due to the investments we are making in the shop-in-shops, we reassessed our lease term when construction began as these assets will have significant economic value to us when the lease term becomes exercisable. The impact of these assessments resulted in additional lease term, additional lease assets and liabilities, and, in some cases, changes to the classification. The following tables summarize our operating and finance leases and where they are presented in our Consolidated Financial Statements: Consolidated Balance Sheets (Dollars in Millions) Classification October 29, January 29, October 30, Assets Operating leases Operating leases $ 2,318 $ 2,248 $ 2,293 Finance leases Property and equipment, net 2,066 1,442 1,389 Total operating and finance leases 4,384 3,690 3,682 Liabilities Current Operating leases Current portion of operating leases 109 145 142 Finance leases Current portion of finance leases and financing obligations 78 87 86 Noncurrent Operating leases Operating leases 2,595 2,479 2,537 Finance leases Finance leases and financing obligations 2,346 1,688 1,620 Total operating and finance leases $ 5,128 $ 4,399 $ 4,385 Consolidated Statement of Operations Three Months Ended Nine Months Ended (Dollars in Millions) Classification October 29, 2022 October 30, 2021 October 29, 2022 October 30, 2021 Operating leases Selling, general, and administrative $ 64 $ 71 $ 197 $ 227 Finance leases Amortization of leased assets Depreciation and amortization 33 27 94 70 Interest on leased assets Interest expense, net 36 29 104 81 Total operating and finance leases $ 133 $ 127 $ 395 $ 378 Consolidated Statement of Cash Flows Nine Months Ended (Dollars in Millions) October 29, 2022 October 30, 2021 Cash paid for amounts included in the measurement of leased liabilities Operating cash flows from operating leases $ 200 $ 236 Operating cash flows from finance leases 99 81 Financing cash flows from finance leases 65 71 The following table summarizes future lease payments by fiscal year: October 29, 2022 (Dollars in Millions) Operating Leases Finance Leases Total 2022 $ 62 $ 40 $ 102 2023 253 215 468 2024 243 207 450 2025 233 203 436 2026 228 202 430 After 2026 3,735 3,678 7,413 Total lease payments $ 4,754 $ 4,545 $ 9,299 Amount representing interest ( 2,050 ) ( 2,121 ) ( 4,171 ) Lease liabilities $ 2,704 $ 2,424 $ 5,128 The following table summarizes weighted-average remaining lease term and discount rate: October 29, 2022 January 29, 2022 Weighted-average remaining term (years) Operating leases 20 20 Finance leases 21 20 Weighted-average discount rate Operating leases 6 % 6 % Finance leases 6 % 7 % Other lease information is as follows: Nine Months Ended (Dollars in Millions) October 29, 2022 October 30, 2021 Property and equipment acquired through exchange of: Finance lease liabilities $ 714 $ 755 Operating lease liabilities 167 8 Financing Obligations The following tables summarize our financing obligations and where they are presented in our Consolidated Financial Statements: Consolidated Balance Sheets (Dollars in Millions) Classification October 29, January 29, October 30, Assets Financing obligations Property and equipment, net $ 50 $ 55 $ 57 Liabilities Current Current portion of finance leases and financing obligations 17 31 31 Noncurrent Finance leases and financing obligations 445 445 452 Total financing obligations $ 462 $ 476 $ 483 Consolidated Statement of Operations Three Months Ended Nine Months Ended (Dollars in Millions) Classification October 29, 2022 October 30, 2021 October 29, 2022 October 30, 2021 Amortization of financing obligation assets Depreciation and amortization 1 2 5 7 Interest on financing obligations Interest expense, net 16 11 43 30 Total financing obligations $ 17 $ 13 $ 48 $ 37 Consolidated Statement of Cash Flows Nine Months Ended (Dollars in Millions) October 29, 2022 October 30, 2021 Cash paid for amounts included in the measurement of financing obligations Operating cash flows from financing obligations $ 42 $ 30 Financing cash flows from financing obligations 16 25 Proceeds from financing obligations 9 8 The following table summarizes future financing obligation payments by fiscal year: October 29, 2022 (Dollars in Millions) Financing Obligations 2022 $ 17 2023 78 2024 77 2025 76 2026 74 After 2026 975 Total lease payments $ 1,297 Non-cash gain on future sale of property 166 Amount representing interest ( 1,001 ) Financing obligation liability $ 462 The following table summarizes the weighted-average remaining term and discount rate for financing obligations: October 29, 2022 January 29, 2022 Weighted-average remaining term (years) 14 10 Weighted-average discount rate 14 % 9 %

Stock-Based Awards

Stock-Based Awards	9 Months Ended
	Oct. 29, 2022
Share-Based Payment Arrangement [Abstract]
Stock-Based Awards	5. Stock-Based Awards The following table summarizes our stock-based awards activity for the nine months ended October 29, 2022: Stock Options Nonvested Stock Awards Performance Share Units (Shares and Units in Thousands) Shares Weighted Shares Weighted Units Weighted Balance - January 29, 2022 12 $ 48.66 2,769 $ 36.17 856 $ 42.74 Granted — — 884 51.60 252 65.42 Exercised/vested ( 12 ) 48.66 ( 1,038 ) 38.51 — — Forfeited/expired — — ( 151 ) 42.98 ( 218 ) 36.89 Balance - October 29, 2022 — $— 2,464 $ 40.30 890 $ 50.58 In 2019, we issued 1,747,441 stock warrants. The total vested and unvested warrants as of October 29, 2022 were 1,048,465 and 698,976 , respectively.

Contingencies

Contingencies	9 Months Ended
	Oct. 29, 2022
Commitments and Contingencies Disclosure [Abstract]
Contingencies	6. Contingencies On September 2, 2022, Sean Shanaphy, an alleged shareholder of the Company, filed a putative class action lawsuit in the U.S. District Court for the Eastern District of Wisconsin against the Company, its directors, and its Chief Financial Officer alleging violations of Sections 10(b) and 20(a) of the Securities and Exchange Act of 1934. Shanaphy v. Kohl’s Corporation, No. 2:22-cv- 01016-LA (E.D. Wis.). The plaintiff asserts claims on behalf of persons and entities that purchased or otherwise acquired the Company’s securities between October 20, 2020 and May 19, 2022, and seeks compensatory damages, interest, fees, and costs. The complaint alleges that members of the putative class suffered losses as a result of (1) false or misleading statements and withholding of information regarding the conception, execution, and outcomes of the Company’s strategic plan announced on October 20, 2020 and the Company’s financial results for the first quarter of fiscal 2022 and (2) the Company’s internal controls over financial reporting, disclosure controls, and corporate governance mechanisms. The case is in its early stages. Lead plaintiff applications were submitted on November 1, 2022, and a lead plaintiff has not yet been selected. The Company intends to file a motion to dismiss the complaint and to vigorously defend against these claims. Due to the early stages of this matter, the Company is unable to estimate a reasonably possible range of loss, if any, that may result from this matter. In addition to what is noted above, we are subject to certain legal proceedings and claims arising out of the ordinary conduct of our business. In the opinion of management, the outcome of these proceedings and claims will not have a material adverse effect on our Consolidated Financial Statements.

Income Taxes

Income Taxes	9 Months Ended
	Oct. 29, 2022
Income Tax Disclosure [Abstract]
Income Taxes	7. Income Taxes The effective income tax rate for the third quarter of 2022 was 18.3 % compared to 24.3 % for the third quarter of 2021. Year to date, the rate was 21.1 % for 2022 and 23.4 % for 2021. The third quarter and year to date rates reflect the recognition of favorable tax items in both 2022 and 2021.

Net Income Per Share

Net Income Per Share	9 Months Ended
	Oct. 29, 2022
Earnings Per Share [Abstract]
Net Income Per Share	8. Net Income Per Share Basic net income per share is net income divided by the average number of common shares outstanding during the period. Diluted net income per share includes incremental shares assumed for share-based awards and stock warrants. Potentially dilutive shares include stock options, unvested restricted stock units and awards, and warrants outstanding during the period, using the treasury stock method. Potentially dilutive shares are excluded from the computations of diluted earnings per share (“EPS”) if their effect would be anti-dilutive. The information required to compute basic and diluted net income per share is as follows: Three Months Ended Nine Months Ended (Dollar and Shares in Millions, Except per Share Data) October 29, October 30, October 29, October 30, Numerator—Net income $ 97 $ 243 $ 254 $ 639 Denominator—Weighted-average shares: Basic 118 145 124 151 Dilutive impact 1 2 2 2 Diluted 119 147 126 153 Net income per share: Basic $ 0.82 $ 1.67 $ 2.05 $ 4.24 Diluted $ 0.82 $ 1.65 $ 2.02 $ 4.19 The following potential shares of common stock were excluded from the diluted net income per share calculation because their effect would have been anti-dilutive: Three Months Ended Nine Months Ended (Shares in Millions) October 29, 2022 October 30, 2021 October 29, 2022 October 30, 2021 Anti-dilutive shares 3 3 3 3

Treasury Stock Repurchases

Treasury Stock Repurchases	9 Months Ended
	Oct. 29, 2022
Treasury Stock Repurchases [Abstract]
Treasury Stock Repurchases	9. Treasury Stock Repurchases On August 18, 2022, we entered into an accelerated share repurchase agreement ("ASR") with Goldman Sachs & Co. LLC ("Goldman Sachs") to repurchase $ 500 million of the Company's common stock. This accelerated share repurchase was part of the $ 3.0 billion share repurchase program authorized by our Board of Directors in February 2022. On August 22, 2022, we received an initial delivery of 11.8 million shares of common stock, representing 80 % of the total shares that were expected to be repurchased under the ASR.

Subsequent Events

Subsequent Events	9 Months Ended
	Oct. 29, 2022
Subsequent Events [Abstract]
Subsequent Events	10. Subsequent Events On November 2, 2022, we completed the $ 500 million ASR that we entered into on August 18, 2022. Final settlement occurred on November 7, 2022, with an additional 6.1 million shares of common stock being delivered. In total, we received 17.9 million shares, which resulted in an average purchase price of approximately $ 28 per share. On November 6, 2022, Michelle Gass resigned her positions as Chief Executive Officer of the Company and a member of its Board of Directors effective December 2, 2022. On November 7, 2022, the Board of Directors appointed Thomas A. Kingsbury as Interim Chief Executive Officer of the Company effective as of December 2, 2022. On November 9, 2022 , the Board of Directors of Kohl's Corporation declared a quarterly cash dividend of $ 0.50 per share. The dividend will be paid on December 21, 2022 , to all shareholders of record at the close of business on December 7, 2022 .

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Oct. 29, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements We do not expect that any recently issued accounting pronouncements will have a material impact on our Consolidated Financial Statements.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Oct. 29, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Net Sales by Line of Business	The following table summarizes net sales by line of business: Three Months Ended Nine Months Ended (Dollars in Millions) October 29, 2022 October 30, 2021 October 29, 2022 October 30, 2021 Women's $ 1,106 $ 1,165 $ 3,422 $ 3,626 Men's 867 933 2,442 2,562 Home 566 680 1,593 1,923 Children's 599 678 1,424 1,609 Accessories 498 434 1,346 1,205 Footwear 416 476 1,159 1,326 Net Sales $ 4,052 $ 4,366 $ 11,386 $ 12,251

Debt (Tables)

Debt (Tables)	9 Months Ended
	Oct. 29, 2022
Debt Disclosure [Abstract]
Components of Long-term Debt	Long-term debt, which excludes borrowings on the revolving credit facility, consists of the following unsecured debt: Outstanding Maturity (Dollars in Millions) Effective Rate at Issuance Coupon Rate October 29, January 29, October 30, 2023 3.25 % 3.25 % $ 164 $ 164 $ 164 2023 4.78 % 4.75 % 111 111 111 2025 9.50 % 9.75 % 113 113 113 2025 4.25 % 4.25 % 353 353 353 2029 7.36 % 7.25 % 42 42 42 2031 3.40 % 3.63 % 500 500 500 2033 6.05 % 6.00 % 112 112 112 2037 6.89 % 6.88 % 101 101 101 2045 5.57 % 5.55 % 427 427 427 Outstanding unsecured senior debt 1,923 1,923 1,923 Unamortized debt discounts and deferred financing costs ( 12 ) ( 13 ) ( 14 ) Current portion of unsecured senior debt ( 164 ) — — Long-term unsecured senior debt $ 1,747 $ 1,910 $ 1,909 Effective interest rate at issuance 4.89 % 4.89 % 4.89 %

Leases (Tables)

Leases (Tables)	9 Months Ended
	Oct. 29, 2022
Leases [Abstract]
Summary of Operating and Finance Leases	The following tables summarize our operating and finance leases and where they are presented in our Consolidated Financial Statements: Consolidated Balance Sheets (Dollars in Millions) Classification October 29, January 29, October 30, Assets Operating leases Operating leases $ 2,318 $ 2,248 $ 2,293 Finance leases Property and equipment, net 2,066 1,442 1,389 Total operating and finance leases 4,384 3,690 3,682 Liabilities Current Operating leases Current portion of operating leases 109 145 142 Finance leases Current portion of finance leases and financing obligations 78 87 86 Noncurrent Operating leases Operating leases 2,595 2,479 2,537 Finance leases Finance leases and financing obligations 2,346 1,688 1,620 Total operating and finance leases $ 5,128 $ 4,399 $ 4,385 Consolidated Statement of Operations Three Months Ended Nine Months Ended (Dollars in Millions) Classification October 29, 2022 October 30, 2021 October 29, 2022 October 30, 2021 Operating leases Selling, general, and administrative $ 64 $ 71 $ 197 $ 227 Finance leases Amortization of leased assets Depreciation and amortization 33 27 94 70 Interest on leased assets Interest expense, net 36 29 104 81 Total operating and finance leases $ 133 $ 127 $ 395 $ 378 Consolidated Statement of Cash Flows Nine Months Ended (Dollars in Millions) October 29, 2022 October 30, 2021 Cash paid for amounts included in the measurement of leased liabilities Operating cash flows from operating leases $ 200 $ 236 Operating cash flows from finance leases 99 81 Financing cash flows from finance leases 65 71
Summary of Future Lease Payments	The following table summarizes future lease payments by fiscal year: October 29, 2022 (Dollars in Millions) Operating Leases Finance Leases Total 2022 $ 62 $ 40 $ 102 2023 253 215 468 2024 243 207 450 2025 233 203 436 2026 228 202 430 After 2026 3,735 3,678 7,413 Total lease payments $ 4,754 $ 4,545 $ 9,299 Amount representing interest ( 2,050 ) ( 2,121 ) ( 4,171 ) Lease liabilities $ 2,704 $ 2,424 $ 5,128
Summary of Weighted-Average Remaining Lease Term and Discount Rates	The following table summarizes weighted-average remaining lease term and discount rate: October 29, 2022 January 29, 2022 Weighted-average remaining term (years) Operating leases 20 20 Finance leases 21 20 Weighted-average discount rate Operating leases 6 % 6 % Finance leases 6 % 7 %
Summary of Other Lease Information	Other lease information is as follows: Nine Months Ended (Dollars in Millions) October 29, 2022 October 30, 2021 Property and equipment acquired through exchange of: Finance lease liabilities $ 714 $ 755 Operating lease liabilities 167 8
Summary of Financing Obligations	The following tables summarize our financing obligations and where they are presented in our Consolidated Financial Statements: Consolidated Balance Sheets (Dollars in Millions) Classification October 29, January 29, October 30, Assets Financing obligations Property and equipment, net $ 50 $ 55 $ 57 Liabilities Current Current portion of finance leases and financing obligations 17 31 31 Noncurrent Finance leases and financing obligations 445 445 452 Total financing obligations $ 462 $ 476 $ 483 Consolidated Statement of Operations Three Months Ended Nine Months Ended (Dollars in Millions) Classification October 29, 2022 October 30, 2021 October 29, 2022 October 30, 2021 Amortization of financing obligation assets Depreciation and amortization 1 2 5 7 Interest on financing obligations Interest expense, net 16 11 43 30 Total financing obligations $ 17 $ 13 $ 48 $ 37 Consolidated Statement of Cash Flows Nine Months Ended (Dollars in Millions) October 29, 2022 October 30, 2021 Cash paid for amounts included in the measurement of financing obligations Operating cash flows from financing obligations $ 42 $ 30 Financing cash flows from financing obligations 16 25 Proceeds from financing obligations 9 8
Summary of Future Financing Obligation Payments	The following table summarizes future financing obligation payments by fiscal year: October 29, 2022 (Dollars in Millions) Financing Obligations 2022 $ 17 2023 78 2024 77 2025 76 2026 74 After 2026 975 Total lease payments $ 1,297 Non-cash gain on future sale of property 166 Amount representing interest ( 1,001 ) Financing obligation liability $ 462
Summary of Weighted-Average Remaining Term and Discount Rate for Financing Obligations	The following table summarizes the weighted-average remaining term and discount rate for financing obligations: October 29, 2022 January 29, 2022 Weighted-average remaining term (years) 14 10 Weighted-average discount rate 14 % 9 %

Stock-Based Awards (Tables)

Stock-Based Awards (Tables)	9 Months Ended
	Oct. 29, 2022
Share-Based Payment Arrangement [Abstract]
Summary of Stock-Based Awards Activity	The following table summarizes our stock-based awards activity for the nine months ended October 29, 2022: Stock Options Nonvested Stock Awards Performance Share Units (Shares and Units in Thousands) Shares Weighted Shares Weighted Units Weighted Balance - January 29, 2022 12 $ 48.66 2,769 $ 36.17 856 $ 42.74 Granted — — 884 51.60 252 65.42 Exercised/vested ( 12 ) 48.66 ( 1,038 ) 38.51 — — Forfeited/expired — — ( 151 ) 42.98 ( 218 ) 36.89 Balance - October 29, 2022 — $— 2,464 $ 40.30 890 $ 50.58

Net Income Per Share (Tables)

Net Income Per Share (Tables)	9 Months Ended
	Oct. 29, 2022
Earnings Per Share [Abstract]
Computation of Basic and Diluted Net Income Per Share	The information required to compute basic and diluted net income per share is as follows: Three Months Ended Nine Months Ended (Dollar and Shares in Millions, Except per Share Data) October 29, October 30, October 29, October 30, Numerator—Net income $ 97 $ 243 $ 254 $ 639 Denominator—Weighted-average shares: Basic 118 145 124 151 Dilutive impact 1 2 2 2 Diluted 119 147 126 153 Net income per share: Basic $ 0.82 $ 1.67 $ 2.05 $ 4.24 Diluted $ 0.82 $ 1.65 $ 2.02 $ 4.19
Schedule of Potential Shares of Common Stock Excluded From the Diluted Net Income Per Share	The following potential shares of common stock were excluded from the diluted net income per share calculation because their effect would have been anti-dilutive: Three Months Ended Nine Months Ended (Shares in Millions) October 29, 2022 October 30, 2021 October 29, 2022 October 30, 2021 Anti-dilutive shares 3 3 3 3

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Net Sales by Line of Business (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 29, 2022	Oct. 30, 2021	Oct. 29, 2022	Oct. 30, 2021
Disaggregation Of Revenue [Line Items]
Total revenue	$ 4,277	$ 4,600	$ 12,079	$ 12,934
Net Sales [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	4,052	4,366	11,386	12,251
Net Sales [Member] | Women's [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	1,106	1,165	3,422	3,626
Net Sales [Member] | Men's [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	867	933	2,442	2,562
Net Sales [Member] | Home [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	566	680	1,593	1,923
Net Sales [Member] | Children's [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	599	678	1,424	1,609
Net Sales [Member] | Accessories [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	498	434	1,346	1,205
Net Sales [Member] | Footwear [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	$ 416	$ 476	$ 1,159	$ 1,326

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 29, 2022	Oct. 30, 2021	Oct. 29, 2022	Oct. 30, 2021	Jan. 29, 2022
Disaggregation Of Revenue [Line Items]
Rewards Program unredeemed gift cards and merchandise return cards liabilities	$ 285	$ 273	$ 285	$ 273	$ 353
Net Sales [Member]
Disaggregation Of Revenue [Line Items]
Revenue recognized	$ 22	$ 22	$ 135	$ 132

Debt - Components of Long-term

Debt - Components of Long-term Debt (Details) - USD ($) $ in Millions	Oct. 29, 2022	Jan. 29, 2022	Oct. 30, 2021
Debt Instrument [Line Items]
Effective interest rate at issuance	4.89%	4.89%	4.89%
Outstanding	$ 1,923	$ 1,923	$ 1,923
Unamortized debt discounts and deferred financing costs	(12)	(13)	(14)
Current portion of unsecured senior debt	(164)
Long-term unsecured senior debt	$ 1,747	1,910	1,909
Senior Notes [Member] | Senior Notes Due 2023 [Member]
Debt Instrument [Line Items]
Effective interest rate at issuance	3.25%
Coupon Rate	3.25%
Outstanding	$ 164	164	164
Senior Notes [Member] | Senior Notes 4.78% Due 2023 [Member]
Debt Instrument [Line Items]
Effective interest rate at issuance	4.78%
Coupon Rate	4.75%
Outstanding	$ 111	111	111
Senior Notes [Member] | Senior Notes Due 2025 [Member]
Debt Instrument [Line Items]
Effective interest rate at issuance	9.50%
Coupon Rate	9.75%
Outstanding	$ 113	113	113
Senior Notes [Member] | Senior Notes 4.25% Due 2025 [Member]
Debt Instrument [Line Items]
Effective interest rate at issuance	4.25%
Coupon Rate	4.25%
Outstanding	$ 353	353	353
Senior Notes [Member] | Senior Notes Due 2029 [Member]
Debt Instrument [Line Items]
Effective interest rate at issuance	7.36%
Coupon Rate	7.25%
Outstanding	$ 42	42	42
Senior Notes [Member] | Senior Notes Due 2031 [Member]
Debt Instrument [Line Items]
Effective interest rate at issuance	3.40%
Coupon Rate	3.63%
Outstanding	$ 500	500	500
Senior Notes [Member] | Senior Notes Due 2033 [Member]
Debt Instrument [Line Items]
Effective interest rate at issuance	6.05%
Coupon Rate	6%
Outstanding	$ 112	112	112
Senior Notes [Member] | Senior Notes Due 2037 [Member]
Debt Instrument [Line Items]
Effective interest rate at issuance	6.89%
Coupon Rate	6.88%
Outstanding	$ 101	101	101
Senior Notes [Member] | Senior Notes Due 2045 [Member]
Debt Instrument [Line Items]
Effective interest rate at issuance	5.57%
Coupon Rate	5.55%
Outstanding	$ 427	$ 427	$ 427

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($)	1 Months Ended
	Sep. 30, 2022	Oct. 29, 2022	Jan. 29, 2022	Oct. 30, 2021
Debt Instrument [Line Items]
Short-term debt, outstanding		$ 668,000,000	$ 0	$ 0
3.375 % Notes [Member]
Debt Instrument [Line Items]
Interest rate on notes	3.375%
Debt instrument increased basis point	0.25%
9.50 % Notes [Member]
Debt Instrument [Line Items]
Interest rate on notes	9.50%
Debt instrument increased basis point	0.25%
Unsecured Senior Debt [Member]
Debt Instrument [Line Items]
Unsecured senior debt		$ 1,500,000,000	$ 2,000,000,000	$ 2,100,000,000

Leases - Additional Information

Leases - Additional Information (Details)	9 Months Ended
	Oct. 29, 2022 Shop
Lessee, Lease, Description [Line Items]
Number of Sephora shops opened	599
Number of Sephora shops opened during the period	399
Number of additional Sephora shops to be opened	7
Number Of Sephora shops to be opened in 2023	250
Store [Member]
Lessee, Lease, Description [Line Items]
Lease extension term	5 years
Minimum [Member] | Store [Member]
Lessee, Lease, Description [Line Items]
Lease initial term	20 years
Lease renewal term	4 years
Maximum [Member] | Store [Member]
Lessee, Lease, Description [Line Items]
Lease initial term	25 years
Lease renewal term	8 years

Leases - Summary of Operating a

Leases - Summary of Operating and Finance Leases (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 29, 2022	Oct. 30, 2021	Oct. 29, 2022	Oct. 30, 2021	Jan. 29, 2022
Assets
Operating leases	$ 2,318	$ 2,293	$ 2,318	$ 2,293	$ 2,248
Finance leases	$ 2,066	$ 1,389	$ 2,066	$ 1,389	$ 1,442
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property and equipment, net	Property and equipment, net	Property and equipment, net	Property and equipment, net	Property and equipment, net
Total operating and finance leases	$ 4,384	$ 3,682	$ 4,384	$ 3,682	$ 3,690
Current liabilities:
Operating leases	109	142	109	142	145
Finance leases	$ 78	$ 86	$ 78	$ 86	$ 87
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Finance Lease Liability And Financing Obligation Current	Finance Lease Liability And Financing Obligation Current	Finance Lease Liability And Financing Obligation Current	Finance Lease Liability And Financing Obligation Current	Finance Lease Liability And Financing Obligation Current
Noncurrent
Operating leases	$ 2,595	$ 2,537	$ 2,595	$ 2,537	$ 2,479
Finance leases	$ 2,346	$ 1,620	$ 2,346	$ 1,620	$ 1,688
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Finance Lease Liability And Financing Obligation Noncurrent	Finance Lease Liability And Financing Obligation Noncurrent	Finance Lease Liability And Financing Obligation Noncurrent	Finance Lease Liability And Financing Obligation Noncurrent	Finance Lease Liability And Financing Obligation Noncurrent
Total operating and finance leases	$ 5,128	$ 4,385	$ 5,128	$ 4,385	$ 4,399
Income Statement
Operating leases	64	71	197	227
Finance leases
Amortization of leased assets	33	27	94	70
Interest on leased assets	36	29	104	81
Total operating and finance leases	$ 133	$ 127	395	378
Cash paid for amounts included in the measurement of leased liabilities
Operating cash flows from operating leases			200	236
Operating cash flows from finance leases			99	81
Financing cash flows from finance leases			$ 65	$ 71

Leases - Summary of Future Leas

Leases - Summary of Future Lease Payments (Details) - USD ($) $ in Millions	Oct. 29, 2022	Jan. 29, 2022	Oct. 30, 2021
Operating Leases
Operating Leases, 2022	$ 62
Operating Leases, 2023	253
Operating Leases, 2024	243
Operating Leases, 2025	233
Operating Leases, 2026	228
Operating Leases, After 2026	3,735
Total lease payments, Operating Leases	4,754
Amount representing interest, Operating Leases	(2,050)
Lease liabilities, Operating Leases	2,704
Finance Leases
Finance Leases, 2022	40
Finance Leases, 2023	215
Finance Leases, 2024	207
Finance Leases, 2025	203
Finance Leases, 2026	202
Finance Leases, After 2026	3,678
Total lease payments, Finance Leases	4,545
Amount representing interest, Finance Leases	(2,121)
Lease liabilities, Finance Leases	2,424
Total
2022	102
2023	468
2024	450
2025	436
2026	430
After 2026	7,413
Total lease payments	9,299
Amount representing interest	(4,171)
Lease liabilities	$ 5,128	$ 4,399	$ 4,385

Leases - Summary of Weighted-Av

Leases - Summary of Weighted-Average Remaining Lease Term and Discount Rates (Details)	Oct. 29, 2022	Jan. 29, 2022
Leases [Abstract]
Operating leases, Weighted-average remaining term (years)	20 years	20 years
Finance leases, Weighted-average remaining term (years)	21 years	20 years
Operating leases, Weighted-average discount rate	6%	6%
Finance leases, Weighted-average discount rate	6%	7%

Leases - Summary of Other Lease

Leases - Summary of Other Lease Information (Details) - USD ($) $ in Millions	9 Months Ended
	Oct. 29, 2022	Oct. 30, 2021
Property and equipment acquired through exchange of:
Finance lease liabilities	$ 714	$ 755
Operating lease liabilities	$ 167	$ 8

Leases - Summary of Financing O

Leases - Summary of Financing Obligations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 29, 2022	Oct. 30, 2021	Oct. 29, 2022	Oct. 30, 2021	Jan. 29, 2022
Assets
Financing obligations	$ 50	$ 57	$ 50	$ 57	$ 55
Liabilities
Current	17	31	17	31	31
Noncurrent	445	452	445	452	445
Total financing obligations	462	483	462	483	$ 476
Income Statement
Amortization of financing obligation assets	1	2	5	7
Interest on financing obligations	16	11	43	30
Total financing obligations	$ 17	$ 13	48	37
Cash paid for amounts included in the measurement of financing obligations
Operating cash flows from financing obligations			42	30
Financing cash flows from financing obligations			16	25
Proceeds from financing obligations			$ 9	$ 8

Leases - Summary of Future Fina

Leases - Summary of Future Financing Obligation Payments (Details) - USD ($) $ in Millions	Oct. 29, 2022	Jan. 29, 2022	Oct. 30, 2021
Leases [Abstract]
2022	$ 17
2023	78
2024	77
2025	76
2026	74
After 2026	975
Total lease payments	1,297
Non-cash gain on future sale of property	166
Amount representing interest	(1,001)
Total financing obligations	$ 462	$ 476	$ 483

Leases - Summary of Weighted-_2

Leases - Summary of Weighted-Average Remaining Term and Discount Rate for Financing Obligations (Details)	9 Months Ended	12 Months Ended
	Oct. 29, 2022	Jan. 29, 2022
Leases [Abstract]
Weighted-average remaining term (years)	14 years	10 years
Weighted-average discount rate	14%	9%

Stock-Based Awards - Summary of

Stock-Based Awards - Summary of Stock-Based Awards Activity (Details) shares in Thousands	9 Months Ended
	Oct. 29, 2022 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Options, Beginning Balance | shares	12
Stock Options, Exercised/vested | shares	(12)
Stock Options, Weighted Average Exercise Price, Beginning Balance | $ / shares	$ 48.66
Stock Options, Weighted Average Exercise Price, Exercised/vested | $ / shares	$ 48.66
Nonvested Stock Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Awards/ Share Units, Beginning Balance | shares	2,769
Stock Awards/ Share Units, Granted | shares	884
Stock Awards/ Share Units, Exercised/vested | shares	(1,038)
Stock Awards/ Share Units, Forfeited/expired | shares	(151)
Stock Awards/ Share Units, Ending Balance | shares	2,464
Stock Awards/ Share Units, Weighted Average Grant Date Fair Value, Beginning Balance | $ / shares	$ 36.17
Stock Awards/ Share Units, Awards/Units, Weighted Average Grant Date Fair Value, Granted | $ / shares	51.60
Stock Awards/ Share Units, Weighted Average Grant Date Fair Value, Exercised/vested | $ / shares	38.51
Stock Awards/ Share Units, Weighted Average Grant Date Fair Value, Forfeited/expired | $ / shares	42.98
Stock Awards/ Share Units, Weighted Average Grant Date Fair Value, Ending Balance | $ / shares	$ 40.30
Performance Share Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Awards/ Share Units, Beginning Balance | shares	856
Stock Awards/ Share Units, Granted | shares	252
Stock Awards/ Share Units, Forfeited/expired | shares	(218)
Stock Awards/ Share Units, Ending Balance | shares	890
Stock Awards/ Share Units, Weighted Average Grant Date Fair Value, Beginning Balance | $ / shares	$ 42.74
Stock Awards/ Share Units, Awards/Units, Weighted Average Grant Date Fair Value, Granted | $ / shares	65.42
Stock Awards/ Share Units, Weighted Average Grant Date Fair Value, Forfeited/expired | $ / shares	36.89
Stock Awards/ Share Units, Weighted Average Grant Date Fair Value, Ending Balance | $ / shares	$ 50.58

Stock-Based Awards - Additional

Stock-Based Awards - Additional Information (Details) - shares	9 Months Ended
	Oct. 29, 2022	Feb. 01, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock warrants, issued		1,747,441
Warrant [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vested warrants	1,048,465
Unvested warrants	698,976

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)	3 Months Ended		9 Months Ended
	Oct. 29, 2022	Oct. 30, 2021	Oct. 29, 2022	Oct. 30, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate	18.30%	24.30%	21.10%	23.40%

Net Income Per Share - Computat

Net Income Per Share - Computation of Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Oct. 29, 2022	Oct. 30, 2021	Oct. 29, 2022	Oct. 30, 2021
Earnings Per Share [Abstract]
Numerator---Net income	$ 97	$ 243	$ 254	$ 639
Denominator—Weighted-average shares: Basic	118	145	124	151
Dilutive impact	1	2	2	2
Weighted average shares, Diluted	119	147	126	153
Basic	$ 0.82	$ 1.67	$ 2.05	$ 4.24
Diluted	$ 0.82	$ 1.65	$ 2.02	$ 4.19

Net Income Per Share - Schedule

Net Income Per Share - Schedule of Potential Shares of Common Stock Excluded From the Diluted Net Income Per Share (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Oct. 29, 2022	Oct. 30, 2021	Oct. 29, 2022	Oct. 30, 2021
Earnings Per Share [Abstract]
Anti-dilutive shares	3	3	3	3

Treasury Stock Repurchases - Ad

Treasury Stock Repurchases - Additional Information (Details) - Accelerated Share Repurchase Agreement [Member] - Common Stock [Member] - Goldman Sachs and Co Limited Liability Company [Member] - USD ($) shares in Millions	Aug. 22, 2022	Aug. 18, 2022	Feb. 28, 2022
Equity, Class of Treasury Stock [Line Items]
Accelerated share repurchase value		$ 500,000,000
Share repurchase program authorized amount			$ 3,000,000,000
Accelerated share repurchase	11.8
Stock repurchase program, percentage of shares expected to be repurchased	80%

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions					3 Months Ended
	Nov. 09, 2022	Nov. 07, 2022	Aug. 22, 2022	Aug. 18, 2022	Nov. 07, 2022
Subsequent Event [Member]
Subsequent Event [Line Items]
Cash dividend per share	$ 0.50
Cash dividend, declared date	Nov. 09, 2022
Cash dividend to be paid date	Dec. 21, 2022
Cash dividend, record date	Dec. 07, 2022
Accelerated Share Repurchase Agreement [Member] | Common Stock [Member] | Goldman Sachs & Co. LLC [Member]
Subsequent Event [Line Items]
Accelerated share repurchase value				$ 500
Accelerated share repurchase			11.8
Accelerated Share Repurchase Agreement [Member] | Common Stock [Member] | Goldman Sachs & Co. LLC [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Accelerated share repurchase		6.1			17.9
Average purchase price per share to be repurchase					$ 28