0000850209-23-000006 | 10-K | XBRL Viewer

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Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Jan. 28, 2023	Mar. 20, 2023	Jul. 30, 2022
Document And Entity Information [Abstract]
Document Type	10-K
Document Period End Date	Jan. 28, 2023
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, par value $0.01
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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 Public Float			$ 1,323,542,801
Entity Common Stock, Shares Outstanding		93,429,371
Entity Central Index Key	0000850209
Current Fiscal Year End Date	--01-28
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false
Trading Symbol	FL
Entity Interactive Data Current	Yes
ICFR Auditor Attestation Flag	true
Auditor Name	KPMG LLP
Auditor Firm ID	185
Auditor Location	New York, NY
Document Annual Report	true
Document Transition Report	false

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Total revenue	$ 8,759	$ 8,968	$ 7,554
Cost of sales	5,955	5,878	5,365
Selling, general and administrative expenses	1,903	1,851	1,587
Depreciation and amortization	208	197	176
Impairment and other charges	112	172	117
Income from operations	581	870	309
Interest (expense) income, net	(15)	(14)	(7)
Other (expense) / income, net	(42)	384	192
Income from continuing operations before income taxes	524	1,240	494
Income tax expense	180	348	171
Net income from continuing operations	344	892	323
Net loss from discontinued operations, net of tax	(3)
Net Income	341	892	323
Net loss attributable to noncontrolling interests	1	1
Net income attributable to Foot Locker, Inc.	$ 342	$ 893	$ 323
Basic earnings per share
Earnings per share from continuing operations attributable to Foot Locker, Inc.	$ 3.66	$ 8.72	$ 3.10
Net loss per share from discontinued operations, net of tax	(0.04)
Net earnings per share attributable to Foot Locker, Inc.	$ 3.62	$ 8.72	$ 3.10
Weighted-average shares outstanding	94.3	102.5	104.3
Diluted earnings per share
Earnings per share from continuing operations attributable to Foot Locker, Inc.	$ 3.62	$ 8.61	$ 3.08
Net loss per share from discontinued operations, net of tax	(0.04)
Net earnings per share attributable to Foot Locker, Inc.	$ 3.58	$ 8.61	$ 3.08
Weighted-average shares outstanding, assuming dilution	95.5	103.8	105.1
Sales
Total revenue	$ 8,747	$ 8,958	$ 7,548
Licensing Revenue
Total revenue	$ 12	$ 10	$ 6

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
Net income attributable to Foot Locker, Inc.	$ 342	$ 893	$ 323
Foreign currency translation adjustment:
Translation adjustment arising during the period, net of income tax (benefit)/expense of $-, $(1), and $3, respectively	(41)	(43)	40
Cash flow hedges:
Change in fair value of derivatives, net of income tax benefit of $-, $-, and $-, respectively	(3)	1	2
Pension and postretirement adjustments:
Net actuarial gain (loss) and foreign currency fluctuations arising during the year, net of income tax expense/(benefit) of $(4), $8, and $4, respectively	(12)	23	13
Amortization of net actuarial gain/loss and prior service cost included in net periodic benefit costs, net of income tax expense of $3, $3, and $3, respectively	7	7	8
Comprehensive income (loss)	$ 293	$ 881	$ 386

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
Net income tax benefit on translation adjustment	$ 0	$ (1)	$ 3
Change in fair value of derivatives, income tax benefit	0	0	0
Net actuarial gain (loss) and foreign currency fluctuations arising during the year, income tax expense (benefit)	(4)	8	4
Amortization of net actuarial gain/loss and prior service cost included in net periodic benefit costs, income tax expense	$ 3	$ 3	$ (3)

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022
Current assets:
Cash and cash equivalents	$ 536	$ 804
Merchandise inventories	1,643	1,266
Other current assets	342	293
Assets, current, total	2,521	2,363
Property and equipment, net	920	917
Operating lease right-of-use assets	2,443	2,616
Deferred taxes	90	86
Goodwill	785	797
Other intangible assets, net	426	454
Minority investments	630	781
Other assets	92	121
Total assets	7,907	8,135
Current liabilities:
Accounts payable	492	596
Accrued and other liabilities	568	561
Current portion of obligations under finance leases	6	6
Operating lease liabilities classified as current	544	572
Liabilities, current, total	1,610	1,735
Long-term debt and obligations under finance leases	446	451
Long-term lease obligations	2,230	2,363
Other liabilities	328	343
Total liabilities	4,614	4,892
Shareholders' equity:
Common stock and paid-in capital: 93,396,901 and 99,070,796 shares issued, respectively	760	770
Retained earnings	2,925	2,900
Accumulated other comprehensive loss	(392)	(343)
Less: Treasury stock at cost:1,489 and 2,050,000 shares, respectively		(88)
Noncontrolling interest		4
Total shareholders' equity	3,293	3,243
Liabilities and equity, total	$ 7,907	$ 8,135

CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares	Jan. 28, 2023	Jan. 29, 2022
CONSOLIDATED BALANCE SHEETS [Abstract]
Common stock, issued	93,396,901	99,070,796
Treasury stock, shares	1,489	2,050,000

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	$ 764		$ 2,103	$ (394)		$ 2,473
Beginning Balance at Feb. 01, 2020	$ 764		2,103	(394)		2,473
Beginning Balance (in shares) at Feb. 01, 2020	104,188,000
Restricted stock issued (in shares)	121,000
Issued under director and stock plans	$ 7					7
Issued under director and stock plans (in shares)	297,000
Share-based compensation expense	$ 15					15
Shares of common stock used to satisfy tax withholding obligations		$ (1)				(1)
Shares of common stock used to satisfy tax withholding obligations (in shares)		(41,000)
Share repurchases		$ (37)				(37)
Share repurchases (in shares)		(969,000)
Reissued - employee stock purchase plan		$ 1				1
Reissued - employee stock purchase plan (in shares)		23,000
Retirement of treasury stock	$ (7)	$ 34	(27)
Retirement of treasury stock (in shares)	913,000	913,000
Net income			323			323
Cash dividends declared on common stock			(73)			(73)
Translation adjustment, net of tax				40		40
Change in cash flow hedges, net of tax				2		2
Noncontrolling interest acquired					$ 5	5
Pension and postretirement adjustments, net of tax				21		21
Ending Balance at Jan. 30, 2021	$ 779	$ (3)	2,326	(331)	5	2,776
Ending Balance (in shares) at Jan. 30, 2021	103,693,000
Ending Balance (in treasury shares) at Jan. 30, 2021		(74,000)
Cumulative effect of the adoption new ASUs	$ 779	$ (3)	2,326	(331)	5	2,776
Restricted stock issued (in shares)	499,000
Issued under director and stock plans	$ 11					11
Issued under director and stock plans (in shares)	353,000
Share-based compensation expense	$ 29					29
Shares of common stock used to satisfy tax withholding obligations		$ (11)				(11)
Shares of common stock used to satisfy tax withholding obligations (in shares)		(205,000)
Share repurchases		$ (348)				(348)
Share repurchases (in shares)		(7,546,000)
Reissued - employee stock purchase plan	(7)	$ 14				$ 7
Reissued - employee stock purchase plan (in shares)		301,000
Retirement of treasury stock	$ (42)	$ 260	(218)
Retirement of treasury stock (in shares)	5,474,000	5,474,000				5,474,288
Net income			893		(1)	$ 892
Net loss attributable to noncontrolling interests						(1)
Cash dividends declared on common stock			(101)			(101)
Translation adjustment, net of tax				(43)		(43)
Change in cash flow hedges, net of tax				1		1
Pension and postretirement adjustments, net of tax				30		30
Ending Balance at Jan. 29, 2022	$ 770	$ (88)	2,900	(343)	4	$ 3,243
Ending Balance (in shares) at Jan. 29, 2022						99,070,796
Ending Balance (in shares) at Jan. 29, 2022	99,071,000
Ending Balance (in treasury shares) at Jan. 29, 2022		(2,050,000)				(2,050,000)
Cumulative effect of the adoption new ASUs	$ 770	$ (88)	2,900	(343)	4	$ 3,243
Restricted stock issued (in shares)	117,000
Issued under director and stock plans	$ 7					7
Issued under director and stock plans (in shares)	228,000
Share-based compensation expense	$ 31					31
Shares of common stock used to satisfy tax withholding obligations		$ (1)				(1)
Shares of common stock used to satisfy tax withholding obligations (in shares)		(40,000)
Share repurchases		$ (129)				(129)
Share repurchases (in shares)		(4,050,000)
Reissued - employee stock purchase plan	(2)	$ 5				3
Reissued - employee stock purchase plan (in shares)		120,000
Retirement of treasury stock	$ (46)	$ 213	(167)
Retirement of treasury stock (in shares)	6,019,000	6,019,212
Termination of joint ventures					(3)	(3)
Net income			342		$ (1)	341
Net loss attributable to noncontrolling interests						(1)
Cash dividends declared on common stock			(150)			(150)
Translation adjustment, net of tax				(41)		(41)
Change in cash flow hedges, net of tax				(3)		(3)
Pension and postretirement adjustments, net of tax				(5)		(5)
Ending Balance at Jan. 28, 2023	$ 760		2,925	(392)		$ 3,293
Ending Balance (in shares) at Jan. 28, 2023						93,396,901
Ending Balance (in shares) at Jan. 28, 2023	93,397,000
Ending Balance (in treasury shares) at Jan. 28, 2023		(1,000)				(1,489)
Cumulative effect of the adoption new ASUs	$ 760		$ 2,925	$ (392)		$ 3,293

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Statement of Stockholders' Equity [Abstract]
Cash dividends declared on common stock, per share	$ 1.60	$ 1.00	$ 0.70

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
From operating activities:
Net income	$ 341	$ 892	$ 323
Adjustments to reconcile net income to net cash provided by operating activities:
Non-cash impairment and other charges	67	148	97
Fair value adjustments to minority investments	61	(367)	(190)
Fair value change in contingent consideration	(31)
Depreciation and amortization	208	197	176
Deferred income taxes	21	74	(9)
Share-based compensation expense	31	29	15
Gain on disposal of business	(19)
Change in assets and liabilities:
Merchandise inventories	(397)	(259)	294
Accounts payable	(101)	161	60
Accrued and other liabilities	(1)	1	140
Pension litigation accrual		10
Other, net	(7)	(220)	156
Net cash (used in) provided by operating activities	173	666	1,062
From investing activities:
Capital expenditures	(285)	(209)	(159)
Purchase of business, net of cash acquired	(14)	(1,056)
Minority investments	(5)	(118)	(9)
Proceeds from sale of business	47
Proceeds from minority investments	95
Proceeds from sale of property		3
Insurance proceeds related to loss on property and equipment		4
Net cash used in investing activities	(162)	(1,376)	(168)
From financing activities:
Proceeds from debt issuance, net		395
Payment of debt issuance costs		(2)	(4)
Proceeds from the revolving credit facility			330
Repayment of the revolving credit facility			(330)
Purchase of treasury shares	(129)	(348)	(37)
Dividends paid on common stock	(150)	(101)	(73)
Payment of long-term debt and obligations under finance leases	(6)	(102)	(23)
Shares of common stock repurchased to satisfy tax withholding obligations	(1)	(11)	(1)
Treasury stock reissued under employee stock plan	3	7
Proceeds from common stock issued under employee stock plans			2
Proceeds from exercise of stock options	6	10	4
(Purchase of) non-controlling interest	(2)
Contribution from non-controlling interest			6
Net cash used in financing activities	(279)	(152)	(126)
Effect of exchange rate fluctuations on cash, cash equivalents, and restricted cash		(6)	8
Net change in cash, cash equivalents, and restricted cash	(268)	(868)	776
Cash, cash equivalents, and restricted cash at beginning of year	850	1,718	942
Cash, cash equivalents, and restricted cash at end of period	582	850	1,718
Cash paid during the year:
Interest	17	11	14
Income taxes	153	387	100
Cash paid for amounts included in measurement of operating lease liabilities:	704	790	626
Cash paid for amounts included in measurement of finance lease liabilities	9	5	1
Non-cash investing and financing activities:
Right-of-use assets obtained in exchange for lease obligations:	$ 458	417	331
Assets obtained in exchange for finance lease obligations		$ 4	$ 11

Summary of Significant Accounting Policies

12 Months Ended

Jan. 28, 2023

Summary of Significant Accounting Policies [Abstract]

Summary of Significant Accounting Policies

1. Summary of Significant Accounting Policies

Basis of Presentation

The consolidated financial statements include the accounts of Foot Locker, Inc. and its domestic and international subsidiaries, as well as any entities in which we have a controlling voting interest that are required to be consolidated. All significant intercompany amounts have been eliminated. As used in these Notes to 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 conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates.

Certain reclassifications have been made to prior period financial statements to conform to the current period presentation. Effective in 2022, we separately present licensing revenue in the Consolidated Statements of Operations as a component of total revenue. Previously, licensing revenue was presented within other income / (expense), net.

Reporting Year

Our fiscal year end is a 52-week or 53-week period ending the Saturday closest to the last day in January. Fiscal year 2022, 2021, and 2020 represented the 52 weeks ended January 28, 2023, January 29, 2022, and February 1, 2020, respectively. References to years in this annual report relate to fiscal years rather than calendar years.

Revenue Recognition

Store revenue is recognized at the point of sale and includes merchandise, net of returns, and excludes taxes. Revenue from layaway sales is recognized when the customer receives the product, rather than when the initial deposit is paid. We recognize revenue for merchandise that is shipped to our customers from our distribution centers and stores upon shipment as the customer has control of the product upon shipment. We account for shipping and handling as a fulfillment activity. We accrue the cost and recognize revenue for these activities upon shipment date, therefore total sales recognized includes shipping and handling fees. We have license agreements with unaffiliated third-party operators located in the Middle East and Asia. The agreements are largely structured with royalty income paid as a percentage of sales for the use of our trademarks, trade name and branding. We record licensing revenue based upon sales estimates for the current period from the third-party operators.

Gift Cards

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. Gift card breakage is recognized as revenue in proportion to the pattern of rights exercised by the customer, unless there is a legal obligation to remit the value of unredeemed gift cards to the relevant jurisdictions.

Advertising Costs and Sales Promotion

Advertising and sales promotion costs are expensed at the time the advertising or promotion takes place, net of reimbursements for cooperative advertising. Cooperative advertising reimbursements earned for the launch and promotion of certain products agreed upon with vendors are recorded in the same period as the associated expenses are incurred.

Digital advertising costs are expensed as incurred, net of reimbursements for cooperative advertising. Digital advertising includes search engine marketing, such as display ads and keyword search terms, and other various forms of digital advertising. Reimbursements received in excess of expenses incurred related to specific, incremental, and identifiable advertising costs are accounted for as a reduction to the cost of merchandise and are reflected in cost of sales when the merchandise is sold.

1. Summary of Significant Accounting Policies (continued)

Advertising costs, including digital advertising, which are included as a component of SG&A, were as follows:


($ in millions)	2022		2021		2020
Advertising expenses	$	135	$	113	$	69
Digital advertising expenses		87		110		89
Cooperative advertising reimbursements		(37)		(29)		(14)
Net advertising expense	$	185	$	194	$	144

Share-Based Compensation

We recognize compensation expense for share-based awards based on the grant date fair value of those awards. We use the Black-Scholes option-pricing model to determine the fair value of stock options, which requires the input of subjective assumptions regarding the expected term, expected volatility, and risk-free interest rate. See Note 22, Share-Based Compensation, for information on the assumptions used to calculate the fair value of stock options. Share-based compensation expense is recognized on a straight-line basis over the requisite service period for each vesting tranche of the award. Upon exercise of stock options, issuance of restricted stock or units, or issuance of shares under the employee stock purchase plan, we will issue authorized but unissued common stock or use common stock held in treasury.

Awards of restricted stock units cliff vest after the passage of time, generally three years. Performance stock unit 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.

PSU awards granted in 2022 also include a performance objective based on our relative total shareholder return over the performance period to a pre-determined peer group, assuming the reinvestment of dividends. The fair value of these awards is determined using a Monte Carlo simulation as of the date of the grant and share-based compensation expense will not be adjusted should the target awards vary from actual awards.

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 EPS 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 basic and diluted EPS is as follows:


(in millions, except per share data)	2022		2021		2020
Income from continuing operations	$	344	$	892	$	323
Net loss attributable to noncontrolling interests		1		1		—
Income from continuing operations attributable to Foot Locker, Inc.		345		893		323
Net loss from discontinued operations, net of tax		(3)		—		—
Net income attributable to Foot Locker, Inc.	$	342	$	893	$	323

Weighted-average common shares outstanding		94.3		102.5		104.3
Dilutive effect of potential common shares		1.2		1.3		0.8
Weighted-average common shares outstanding assuming dilution		95.5		103.8		105.1

1. Summary of Significant Accounting Policies (continued)


(in millions, except per share data)	2022		2021		2020
Basic earnings per share
Earnings per share from continuing operations attributable to Foot Locker, Inc.	$	3.66	$	8.72	$	3.10
Net loss per share from discontinued operations, net of tax		(0.04)		—		—
Net earnings per share attributable to Foot Locker, Inc.	$	3.62	$	8.72	$	3.10

Diluted earnings per share
Earnings per share from continuing operations attributable to Foot Locker, Inc.	$	3.62	$	8.61	$	3.08
Net loss per share from discontinued operations, net of tax		(0.04)		—		—
Net earnings per share attributable to Foot Locker, Inc.	$	3.58	$	8.61	$	3.08

Anti-dilutive share-based awards excluded from diluted calculation		2.7		1.8		2.5

Performance stock units related to our long-term incentive programs of 0.4 million for 2022, 0.4 million for 2021, and 0.4 million for 2020, have been excluded from diluted weighted-average shares. The issuance of these shares are contingent on our performance metrics as compared to the pre-established performance goals, which have not been achieved.

Cash, Cash Equivalents, and Restricted Cash

Cash consists of funds held on hand and in bank accounts. Cash equivalents include amounts on demand with banks and all highly liquid investments with original maturities of three months or less, including money market funds. Additionally, amounts due from third-party credit card processors for the settlement of debit and credit card transactions are included as cash equivalents as they are generally collected within three business days. We present book overdrafts, representing checks issued but still outstanding in excess of bank balances, as part of accounts payable.

Restricted cash represents cash that is restricted as to withdrawal or use under the terms of various agreements. Restricted cash includes 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.

The following table provides the reconciliation of cash, cash equivalents, and restricted cash, as reported on our consolidated statements of cash flows:


	January 28,		January 29,		January 30,
($ in millions)	2023		2022		2021
Cash and cash equivalents ⁽¹⁾	$	536	$	804	$	1,680
Restricted cash included in other current assets		13		8		8
Restricted cash included in other non-current assets		33		38		30
Cash, cash equivalents, and restricted cash	$	582	$	850	$	1,718

(1)	Includes cash equivalents of $41 million, $48 million, and $503 million for the years ended January 28, 2023, January 29, 2022, and February 1, 2020, respectively.

1. Summary of Significant Accounting Policies (continued)

Merchandise Inventories and Cost of Sales

Merchandise inventories are valued at the lower of cost or market using the retail inventory method, except for WSS and atmos. Cost is determined on the last-in, first-out (“LIFO”) basis for domestic inventories and on the first-in, first-out (“FIFO”) basis for international inventories. Merchandise inventories for our WSS and atmos businesses are valued at its net realizable value using the weighted average method. Cost is determined on the FIFO basis.

The retail inventory method is used by retail companies to value inventories at cost and calculate gross margins due to its practicality. Under the retail inventory method, cost is determined by applying a cost-to-retail percentage across groupings of similar items, known as departments. The cost-to-retail percentage is applied to ending inventory at its current owned retail valuation to determine the cost of ending inventory on a department basis. We provide reserves based on current selling prices when the inventory has not been marked down to market.

Transportation, distribution center, and sourcing costs are capitalized in merchandise inventories. We expense the freight associated with transfers between our store locations in the period incurred. We maintain an accrual for shrinkage based on historical rates.

Cost of sales is comprised of the cost of merchandise, as well as occupancy, buyers’ compensation, and shipping and handling costs. The cost of merchandise is recorded net of amounts received from suppliers for damaged product returns, markdown allowances, and volume rebates, as well as cooperative advertising reimbursements received in excess of specific, incremental advertising expenses.

Minority Investments

We use the equity method to account for investments in which we have the ability to exercise significant influence over the investee’s operating and financial policies, or in which we hold a partnership or limited liability company interest in an entity with specific ownership accounts, unless we have virtually no influence over the investee’s operating and financial policies. As of January 28, 2023 and January 29, 2022, we had $51 million and $56 million, respectively, of investments which are accounted for under the equity method.

Our investments that are not accounted for under the equity method are measured either at cost, adjusted for changes in observable prices minus impairment under the practicability exception, or at fair value for our investment in the common stock of an entity that is publicly traded. As of January 28, 2023 and January 29, 2022, we had $579 million and $725 million, respectively, of investments which are accounted for under these methods.

Property and Equipment

Property and equipment are recorded at cost, less accumulated depreciation and amortization. Significant additions and improvements to property and equipment are capitalized. Major renewals or replacements that substantially extend the useful life of an asset are capitalized. Maintenance and repairs are expensed as incurred.

Depreciation and amortization are computed on a straight-line basis over the following estimated useful lives:



Buildings		Maximum of 50 years
Store leasehold improvements		Shorter of the asset useful life or expected term of the lease
Furniture, fixtures, and equipment		3‑10 years
Software		2‑5 years

1. Summary of Significant Accounting Policies (continued)

Internal-Use Software Development Costs

We capitalize certain external and internal computer software and software development costs incurred during the application development stage. The application development stage generally includes software design and configuration, coding, testing, and installation activities. Capitalized costs include only external direct cost of materials and services consumed in developing or obtaining internal-use software, and payroll and payroll-related costs for employees who are directly associated with and devote time to the internal-use software project. Capitalization of such costs ceases no later than the point at which the project is substantially complete and ready for its intended use. We generally amortize these costs on a straight-line basis over a period not to exceed five years. Training and maintenance costs are expensed as incurred, while upgrades and enhancements are capitalized if it is probable that such expenditures will result in additional functionality. Capitalized software, net of accumulated amortization, is included as a component of Property and equipment, net and was $87 million and $103 million at January 28, 2023 and January 29, 2022, respectively.

Cloud computing arrangements (software-as-a-service contracts) and related implementation costs that are capitalized are amortized on a straight-line basis over the contract term. These amounts are classified with prepaid expense and other long-term assets in the Consolidated Balance Sheets. Expense related to cloud computing arrangements are included in SG&A. The corresponding cash flows related to these arrangements are included in “Net cash provided by operating activities” in the Company’s Consolidated Statements of Cash Flows.

Impairment of Long-Lived Tangible Assets and Right-of-Use Assets

We perform an impairment review when circumstances indicate that the carrying value of long-lived tangible assets and right-of-use assets may not be recoverable (“a triggering event”). Our policy in determining whether a triggering event exists comprises the evaluation of measurable operating performance criteria and qualitative measures at the lowest level for which identifiable cash flows are largely independent of cash flows for other assets and liabilities, which is generally at the store level. We also evaluate triggering events at the banner level. In evaluating potential store level impairment, we compare future undiscounted cash flows expected to result from the use of the asset group to the carrying amount of the asset group. The future cash flows are estimated predominately based on our historical performance and long-range strategic plans. If the carrying amount of the asset group exceeds the estimated undiscounted future cash flows, we measure the amount of the impairment by comparing the carrying amount of the asset group with its estimated fair value. The estimation of fair value is measured by discounting expected future cash flows using a risk adjusted discount rate and using current market-based information for right-of-use assets. We estimate fair value based on the best information available using estimates, judgments, and projections as considered necessary.

Leases

Lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term for those arrangements where there is an identified asset and the contract conveys the right to control its use. The lease term includes options to extend or terminate a lease only when we are reasonably certain that we will exercise that option. The right-of-use asset is measured at the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date, initial direct costs, and any tenant improvement allowances received. For operating leases, right-of-use assets are reduced over the lease term by the straight-line lease expense recognized less the amount of accretion of the lease liability determined using the effective interest method.

We combine lease components and non-lease components. Given our policy election to combine lease and non-lease components, we also consider fixed common area maintenance (“CAM”) part of our fixed future lease payments; therefore, fixed CAM is also included in our lease liability. We recognize rent expense for operating leases as of the possession date for store leases or the commencement of the agreement for non-store leases. Rental expense, inclusive of rent holidays, concessions, and tenant allowances are recognized over the lease term on a straight-line basis. Contingent payments based upon sales and future increases determined by inflation related indices cannot be estimated at the inception of the lease and, accordingly, are charged to operations as incurred.

1. Summary of Significant Accounting Policies (continued)

As most of our leases do not provide an implicit interest rate, we use our incremental borrowing rates based on the remaining lease term to determine the present value of future lease payments. Our incremental borrowing rate for a lease is the rate of interest we would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms.

Leases with an initial term of 12 months or less are not recorded on the balance sheet. We recognize lease expense for short-term leases on a straight-line basis over the lease term.

Impairment of Goodwill and Other Intangible Assets

Goodwill and intangible assets with indefinite lives are reviewed for impairment annually during the first quarter of each fiscal year historically, or more frequently if impairment indicators arise. During the fourth quarter of 2022, we voluntarily changed our annual goodwill testing date from the first day of the fiscal year to the first day of our fourth quarter. The Company believes this change in method of applying the accounting principle is preferable, as it better aligns the annual impairment testing date with the most current information from the budgeting and strategic planning process and provides management with sufficient time to complete its annual assessment in advance of our year-end reporting. The change did not delay, accelerate, or avoid an impairment charge.

The review of goodwill impairment consists of either using a qualitative approach to determine whether it is more likely than not that the fair value of the assets is less than their respective carrying values or a one-step quantitative impairment test. In performing the qualitative assessment, we consider many factors in evaluating whether the carrying value of goodwill may not be recoverable, including declines in our stock price and market capitalization in relation to the book value of the Company and macroeconomic conditions affecting retail. If, based on the results of the qualitative assessment, it is concluded that it is not more likely than not that the fair value of a reporting unit exceeds its carrying value, additional quantitative impairment testing is performed. The quantitative test requires that the carrying value of each reporting unit be compared with its estimated fair value. If the carrying value of a reporting unit is greater than its fair value, a goodwill impairment charge will be recorded for the difference (up to the carrying value of goodwill).

We use a discounted cash flow approach to determine the fair value of a reporting unit. The determination of discounted cash flows of the reporting units and assets and liabilities within the reporting units requires significant estimates and assumptions. These estimates and assumptions primarily include, but are not limited to, the discount rate, terminal growth rates, earnings before depreciation and amortization, and capital expenditures forecasts. Due to the inherent uncertainty involved in making these estimates, actual results could differ from those estimates. We evaluate the merits of each significant assumption, both individually and in the aggregate, used to determine the fair value of the reporting units, as well as the fair values of the corresponding assets and liabilities within the reporting units.

For our annual impairment review conducted in the fourth quarter of 2022, we concluded the fair value of each reporting unit exceeded its carrying value. Goodwill is net of accumulated impairment charges of $167 million for all periods presented. Refer to Note 2 for further detail regarding acquisitions made during 2021.

Intangible assets with indefinite lives are tested for impairment if impairment indicators arise and, at a minimum, annually. The impairment review for intangible assets with indefinite lives consists of either performing a qualitative or a quantitative assessment. If the results of the qualitative assessment indicate that it is more likely than not that the fair value of the indefinite-lived intangible is less than its carrying amount, or if we elect to proceed directly to a quantitative assessment, we calculate the fair value using a discounted cash flow method, based on the relief from royalty method, and compare the fair value to the carrying value to determine if the asset is impaired. Intangible assets that are determined to have finite lives are amortized over their useful lives and are measured for impairment only when events or changes in circumstances indicate that the carrying value may be impaired.

1. Summary of Significant Accounting Policies (continued)

Contingent Consideration

As a result of our purchase of atmos, we recognized contingent consideration, as a component of the purchase consideration is payable contingent on the achievement of certain sales and EBITDA performance. See Note 2 for further details. Contingent consideration is classified as a liability when it will be settled in cash or a variable number of shares (or a combination thereof), and the amount of the payment is not dependent upon the fair value of the Company’s common stock. The fair value of the contingent consideration liability is estimated using an option pricing model simulation that determines an average projected payment value across numerous iterations. This technique determines projected payments based on simulated sales and EBITDA derived from an internal forecast, adjusted for selected revenue and EBITDA volatilities and risk premiums based on market data for comparable guideline public companies. The projected payments are then discounted back to the valuation date at the Company’s cost of debt using a term commensurate with the contractual payment dates.

The contingent consideration liability will be measured at fair value on a recurring basis until the contingency is resolved. Changes in the estimated fair value of the contingent consideration liability will be reflected in operating income or expense in the Consolidated Statements of Operations.

Derivative Financial Instruments

All derivative financial instruments are recorded in our Consolidated Balance Sheets at their fair values. For derivatives designated as a hedge, and effective as part of a hedge transaction, the effective portion of the gain or loss on the hedging derivative instrument is reported as a component of other comprehensive income/loss or as a basis adjustment to the underlying hedged item and reclassified to earnings in the period in which the hedged item affects earnings. The effective portion of the gain or loss on hedges of foreign net investments is generally not reclassified to earnings unless the net investment is disposed of. To the extent derivatives do not qualify or are not designated as hedges, or are ineffective, their changes in fair value are recorded in earnings immediately, which may subject us to increased earnings volatility.

Income Taxes

We account for our income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statements and the tax basis of assets and liabilities, using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are recognized for tax credits and net operating loss carryforwards, reduced by a valuation allowance, which is established when it is more likely than not that some portion or all of the deferred tax assets will not be realized. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date.

We recognize net deferred tax assets to the extent that we believe these assets are more likely than not to be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If we determine that we would be able to realize our deferred tax assets in the future in excess of their net recorded amount, we would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes.

A taxing authority may challenge positions that we adopted in our income tax filings. Accordingly, we may apply different tax treatments for transactions in filing our income tax returns than for income tax financial reporting. We regularly assess our tax positions for such transactions and record reserves for those differences when considered necessary. Tax positions are recognized only when it is more likely than not, based on technical merits, that the positions will be sustained upon examination. Tax positions that meet the more-likely-than-not threshold are measured using a probability weighted approach as the largest amount of tax benefit that is greater than fifty percent likely of being realized upon settlement. Whether the more-likely-than-not recognition threshold is met for a tax position is a matter of judgment based on the individual facts and circumstances of that position evaluated in light of all available evidence. We recognize interest and penalties related to unrecognized tax benefits within income tax expense in the accompanying Consolidated Statement of Operations. Accrued interest and penalties are included within the related tax liability line in the Consolidated Balance Sheet.

1. Summary of Significant Accounting Policies (continued)

Pension and Postretirement Obligations

Pension benefit obligations and net periodic pension costs are calculated using actuarial assumptions. Two key assumptions used in accounting for pension liabilities and expenses are the discount rate and expected rate of return on plan assets. The discount rate for the U.S. plans is determined by reference to the Bond:Link interest rate model based upon a portfolio of highly-rated U.S. corporate bonds with individual bonds that are theoretically purchased to settle the plan’s anticipated cash outflows. The cash flows are discounted to their present value and an overall discount rate is determined. The discount rate selected to measure the present value of the Canadian benefit obligations was developed by using that plan’s bond portfolio indices, which match the benefit obligations. We measure our plan assets and benefit obligations using the month-end date that is closest to our fiscal year end. The expected return on plan assets assumption is derived using the current and expected asset allocation of the pension plan assets and considering historical as well as expected performance of those assets.

Insurance Liabilities

We are primarily self-insured for health care, workers’ compensation, and general liability costs. Accordingly, provisions are made for actuarially determined estimates of discounted future claim costs for such risks, for the aggregate of claims reported, and claims incurred but not yet reported. Self-insured liabilities totaled $13 million for January 28, 2023, $14 million for January 29, 2022 and $13 million for January 30, 2021. Workers’ compensation and general liability reserves are discounted using a risk-free interest rate. Imputed interest expense related to these liabilities was not significant for any of the periods presented.

Treasury Stock Retirement

We periodically retire treasury shares that we acquire through share repurchases and return those shares to the status of authorized but unissued. We account for treasury stock transactions under the cost method. For each reacquisition of common stock, the number of shares and the acquisition price for those shares is added to the existing treasury stock count and total value. When treasury shares are retired, our policy is to allocate the excess of the repurchase price over the par value of shares acquired to both retained earnings and additional paid-in capital. The portion allocated to additional paid-in capital is determined by applying a percentage, which is determined by dividing the number of shares to be retired by the number of shares issued, to the balance of additional paid-in capital as of the retirement date.

We retired 6,019,212 and 5,474,288 shares of our common stock held in treasury during 2022 and 2021, respectively. The shares were returned to the status of authorized but unissued. As a result, treasury stock decreased by $213 million and $260 million as of January 28, 2023 and January 29, 2022, respectively.

Foreign Currency Translation

The functional currency of our international operations is the applicable local currency. The translation of the applicable foreign currency into U.S. dollars is performed for balance sheet accounts using current exchange rates in effect at the balance sheet date and for revenue and expense accounts using the weighted-average rates of exchange prevailing during the year. The unearned gains and losses resulting from such translation are included as a separate component of accumulated other comprehensive loss (“AOCL”) within shareholders’ equity.

Recently Adopted 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.

Recent Accounting Pronouncements Not Yet Adopted

All recently issued accounting pronouncements are not expected to have a material effect on the consolidated financial statements.

Acquisition

12 Months Ended

Jan. 28, 2023

Business Combinations [Abstract]

Acquisition

2. Acquisitions

WSS

In 2021, the Company, through its wholly-owned subsidiary Foot Locker Retail, Inc., acquired 100% of the shares of Eurostar, Inc., a Delaware corporation operating as WSS (“WSS”). WSS is a U.S.-based off-mall athletic footwear and apparel retailer, focused on the Hispanic consumer, which operated 93 stores at the acquisition, primarily on the West Coast.

We believe that this acquisition enhances our growth opportunities in North America and creates further diversification and differentiation in terms of both customers and products.

The results of WSS are included in our consolidated financial statements since the acquisition date. The proforma effects of the acquisition have not been presented, as their effects were not significant to the consolidated results of operations.

The aggregate purchase price for the acquisition was $809 million ($2 million paid in 2022 and $737 million paid in 2021, net of cash acquired) and was funded with available cash. During 2022, we recorded insignificant changes to the value of net assets acquired related to income tax balances.

The following table represents the final allocation of the purchase price for WSS. We determined that the WSS tradename will have an indefinite life and will not be amortized. The excess purchase price over the fair value of assets was allocated to goodwill.


($ 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 and accrued liabilities	$	(59)
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		(87)
Other liabilities		(4)

Goodwill		407
Total purchase price	$	809

atmos

Effective November 1, 2021, the Company, acquired certain entities collectively operated as atmos, headquartered in Japan. atmos is a digitally led, culturally-connected global brand featuring premium sneakers and apparel, an exclusive in-house label, collaborative relationships with leading vendors in the sneaker ecosystem, experiential stores, and a robust omni-channel platform.

The aggregate purchase price for the acquisition was $372 million ($12 million paid in 2022 and $319 million paid in 2021, net of cash acquired) subject to adjustment for the finalization of the purchase price. At closing, we placed $20 million related to certain indemnifications and this indemnification escrow will be released in May 2023, unless there is a pending claim. The acquisition was funded with available cash.

2. Acquisitions (continued)

The purchase price includes contingent consideration which can reach up to $111 million based on achieving certain revenue growth and EBITDA performance targets. The contingent consideration was initially valued at $35 million in 2021 and during 2022 that amount was reduced to $4 million, through impairment and other in our Consolidated Statements of Operations.

The results of atmos are included in our consolidated financial statements since the acquisition date. The proforma effects of the acquisition have not been presented, as their effects were not significant to the consolidated results of operations.

The table below summarizes the final allocation of the purchase price to the fair value of assets acquired for atmos using the exchange rate in effect as of the date of the acquisition. The excess purchase price over the fair value of assets was allocated to goodwill. Changes to amounts reported in the prior year resulted in a change to goodwill of $7 million and primarily was related to intangibles. These 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. Goodwill of $30 million is deductible for tax purposes over 15 years.


($ in millions)
Assets acquired:
Cash and cash equivalents	$	6
Merchandise inventories		20
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		(40)
Other liabilities		(8)

Goodwill ⁽¹⁾		249
Total purchase price ⁽²⁾	$	372

(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 $337 million in cash and $35 million of contingent consideration.

Revenue

12 Months Ended

Jan. 28, 2023

Revenue [Abstract]

Revenue

3. Revenue

The table below presents sales disaggregated by sales channel as well as licensing revenue earned from our various franchised arrangements. Sales are attributable to the channel in which the sales transaction is initiated.


($ in millions)	2022		2021		2020
Sales by Channel
Stores	$	7,219	$	7,029	$	5,447
Direct-to-customers		1,528		1,929		2,101
Total sales		8,747		8,958		7,548
Licensing revenue		12		10		6
Total revenue	$	8,759	$	8,968	$	7,554

3. Revenue (continued)

Revenue by geographic area is presented in the following table. Revenue is attributed to the country in which the transaction is fulfilled.


($ in millions)	2022		2021		2020
Revenue by Geography
United States	$	5,981	$	6,477	$	5,581
International		2,778		2,491		1,973
Total revenue	$	8,759	$	8,968	$	7,554

For the year ended January 28, 2023, the countries that comprised the majority of the revenue for the international category were Canada, France, Italy, Australia, and Germany. No other individual country included in the international category was significant.

Sales by banner and operating segments are presented in the following table.


($ in millions)	2022		2021		2020
Foot Locker	$	3,304	$	3,295	$	2,835
Champs Sports		1,681		1,939		1,610
Kids Foot Locker		708		724		590
WSS		604		195		—
Other		126		742		903
North America		6,423		6,895		5,938
Foot Locker		1,628		1,565		1,250
Sidestep		94		76		46
Other		—		—		47
EMEA		1,722		1,641		1,343
Foot Locker		414		373		267
atmos		188		49		—
Asia Pacific		602		422		267
Total sales	$	8,747	$	8,958	$	7,548

Contract Liabilities

The table below presents the activity of our gift card liability balance:


	January 28,		January 29,
($ in millions)	2023		2022
Gift card liability at beginning of year	$	46	$	41
Liabilities acquired - WSS		—		1
Redemptions		(259)		(249)
Breakage recognized in sales		(17)		(17)
Activations		266		271
Foreign currency fluctuations		—		(1)
Gift card liability	$	36	$	46

We elected not to disclose the information about remaining performance obligations since the amount of gift cards redeemed after 12 months is not significant for both 2022 and 2021.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Segment Information

12 Months Ended

Jan. 28, 2023

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 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 a store or a combination of our distribution centers and stores depending on the availability of particular items.

4. Segment Information (continued)

Our operating segments are identified according to how our business activities are managed and evaluated by our chief operating decision maker, our CEO. We have three operating segments, North America, EMEA (Europe, Middle East and Africa), and Asia Pacific. Our North America operating segment includes the results of the following banners in the U.S. and Canada: Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, and WSS, including each of their related e-commerce businesses, as well as our Eastbay business that included internet, catalog, and team sales. Our EMEA operating segment includes the results of the following banners in Europe: Foot Locker, Sidestep, and Kids Foot Locker, including each of their related e-commerce businesses. Our Asia Pacific operating segment includes the results of Foot Locker in Australia, New Zealand, and Asia and atmos operating primarily in Japan, as well as their related e-commerce businesses. Additionally, the EMEA and Asia Pacific operating segments include licensing revenue. We further aggregated these operating segments into one reportable segment based upon their shared customer base and similar economic characteristics.

We evaluate performance based on several factors, of which the primary financial measure is the banner’s financial results referred to as division profit. Division profit reflects income before income taxes, impairment and other, corporate expense, interest expense, net and other income / (expense), net.

The following table summarizes our results:


($ in millions)	2022		2021		2020
Division profit	$	844	$	1,171	$	497
Less: Impairment and other ⁽¹⁾		112		172		117
Less: Corporate expense ⁽²⁾		151		129		71
Income from operations		581		870		309
Interest expense, net		(15)		(14)		(7)
Other income / (expense), net ⁽³⁾		(42)		384		192
Income from continuing operations before income taxes	$	524	$	1,240	$	494

(1)	See Note 5, Impairment and Other for additional information on these amounts.

(2)

Corporate expense for all years presented reflects the reallocation of expense between corporate and the operating divisions. No change was made during 2022. Based upon annual internal studies of corporate expense, the allocation of such expenses to the operating divisions was increased by $19 million for 2021 and $28 million for 2020, thereby reducing corporate expense.

(3)	See Note 6, Other Income / (expense), net for additional information on these amounts.

Long-lived asset information as of and for the fiscal years ended January 28, 2023, January 29, 2022, and January 30, 2021 is presented in the following table. Long-lived assets reflect property and equipment and lease right-of-use assets.


($ in millions)	2022		2021		2020
Long-Lived Assets
United States	$	2,152	$	2,285	$	2,218
International		1,211		1,248		1,286
Total long-lived assets	$	3,363	$	3,533	$	3,504

For the year ended January 28, 2023, the countries that comprised the majority of long-lived assets for the international category were Canada, France, Italy, Australia, Germany, and England. No other individual country included in the international category was significant as of January 28, 2023.


	Depreciation and
	Amortization						Capital Expenditures ⁽¹⁾						Total Assets
($ in millions)	2022		2021		2020		2022		2021		2020		2022		2021		2020
Division	$	169	$	163	$	152	$	200	$	127	$	88	$	7,178	$	7,184	$	5,159
Corporate		39		34		24		85		82		71		729		951		1,884
Total	$	208	$	197	$	176	$	285	$	209	$	159	$	7,907	$	8,135	$	7,043

(1) Represents cash capital expenditures for all years presented.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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-Name Accounting Standards Codification
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+ Details

Impairment and Other Charges

12 Months Ended

Jan. 28, 2023

Impairment and Other Charges [Abstract]

Impairment and Other Charges

5. Impairment and Other


($ in millions)	2022		2021		2020
Impairment of long-lived assets and right-of-use assets	$	58	$	92	$	77
Transformation consulting		42		—		—
Reorganization costs		22		4		7
Litigation costs		9		—		—
Other intangible asset impairments		8		2		—
Acquisition and integration costs		4		24		—
Change in fair value of contingent consideration		(31)		—		—
Impairment of investments		—		42		4
Lease termination costs		—		15		—
(Insurance recovery)/ losses related to social unrest		—		(7)		8
Runners Point shut down		—		—		19
Pension litigation related charges		—		—		2
Total impairment and other	$	112	$	172	$	117

During the fourth quarter of 2022, we conducted an impairment review for approximately 142 underperforming stores, which included 70 Sidestep stores. The Company has made the strategic decision to shut down this banner during 2023. We evaluated the long-lived assets, including the right-of-use assets and recorded non-cash charges of $53 million to write down store fixtures, leasehold improvements, and right-of-use assets for approximately 110 of these stores, which included $17 million for Sidestep stores. During the first and second quarters of 2022 we recorded impairment charges of $5 million related to long-lived assets and right-of-use assets, as well as accelerated tenancy charges.

Impairment of long-lived assets and right of use assets recorded during 2021 related primarily to the decision to shut down our Footaction banner. The amounts in 2020 primarily represented impairment related to our stores operating in Europe, which had a triggering event caused by the COVID-19 pandemic. All periods reflect charges associated with our annual fourth quarter impairment review of underperforming stores.

During 2022, we incurred $42 million of transformation consulting expense. Additionally, we incurred $22 million of reorganization costs, primarily severance, due to the reduction of support functions as we streamlined the organization for operational efficiency and included $4 million of other costs related to the wind down of the Sidestep banner. Associated with the decision to shut down the Sidestep banner, we recorded an $8 million intangible asset impairment on the Sidestep tradename.

During the fourth quarter of 2022, we recorded a $9 million charge for litigation, representing a pending settlement of a wage/hour matter.

In connection with the acquisition of atmos in the prior year, the purchase included contingent consideration based on the achievement of certain sales and EBITDA metrics. The fair value was initially measured as part of the purchase price as $35 million. As required, the adjustment of its fair value was recorded through earnings and represents a benefit of $31 million recorded in the fourth quarter of 2022.

During 2022 and 2021 we recorded acquisition and integration costs of $4 million and $24 million, respectively, which primarily represented investment banking and integration consulting fees related to the WSS and atmos acquisitions.

Over the last several years we have made several minority investments in early-stage companies. In connection with these investments, we recorded non-cash charges of $42 million and $4 million, in 2021 and 2020 respectively, related to the write-down of certain minority investments due to their underperformance.

Other Income (Expense), net

12 Months Ended

Jan. 28, 2023

Other Income / (Expense), net [Abstract]

Other Income (Expense), net

6. Other Income / (Expense), net

Other income / expense, net generally includes non-operating items, such as:

changes in value for our investments accounted for using the fair value measurement alternative, which is at cost adjusted for changes in observable prices minus impairment,

our share of earnings or losses related to our equity method investments,

net benefit expense or income related to our pension and postretirement programs, excluding the service cost component,

changes in fair value, premiums paid, and realized gains associated with foreign currency option contracts,

changes in the market value of our available-for-sale security, and

premiums paid to repurchase and retire bonds.


($ in millions)	2022		2021		2020
Minority investment in Retailors, Ltd.	$	(61)	$	77	$	—
Share of earnings (losses) related to other minority investments		1		3		(1)
Team Sales divestiture		19		—		—
Minority investment in GOAT		—		290		190
Pension and postretirement net benefit income, excluding service cost		—		7		5
Other		(1)		7		(2)
Total other income / (expense), net	$	(42)	$	384	$	192

During 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 was at a discount to the initial public offering price, resulting in a non-cash gain of $9 million in 2021. Additionally, changes in fair value related to our Retailors, Ltd. investment generated non-cash gains of $68 million during 2021. During 2022, we sold our position in this investment. A loss of $62 million was recorded during 2022, partially offset by $1 million of dividend income. Our minority investment in GOAT is accounted for using the fair value measurement alternative, which is at cost adjusted for changes in observable prices minus impairment. GOAT received funding at higher valuations in both 2021 and 2020 resulting in non-cash gains of $290 million and $190 million, respectively.

During 2021, we recorded $7 million of insurance recoveries in excess of the losses sustained in the prior year related to the social unrest.

Merchandise Inventories

12 Months Ended

Jan. 28, 2023

Merchandise Inventories [Abstract]

Merchandise Inventories

7. Merchandise Inventories


($ in millions)	January 28, 2023		January 29, 2022
LIFO inventories	$	1,093	$	788
FIFO inventories		550		478
Total merchandise inventories	$	1,643	$	1,266

The value of our LIFO inventories as calculated on a LIFO basis, approximates their value as calculated on a FIFO basis.

Other Current Assets

12 Months Ended

Jan. 28, 2023

Other Current Assets [Abstract]

Other Current Assets

8. Other Current Assets


($ in millions)	January 28, 2023		January 29, 2022
Net receivables	$	160	$	134
Prepaid income taxes		62		56
Other prepaid expenses		71		64
Prepaid rent		19		19
Restricted cash		13		8
Other		17		12
	$	342	$	293

Property and Equipment, Net

12 Months Ended

Jan. 28, 2023

Property and Equipment, Net [Abstract]

Property and Equipment, Net

9. Property and Equipment, net


($ in millions)	January 28, 2023		January 29, 2022
Owned properties:
Land	$	4	$	4
Buildings		53		52
Furniture, fixtures, equipment and software development costs		1,379		1,329
		1,436		1,385
Less: accumulated depreciation		(948)		(902)
		488		483
Finance leases:
Assets under finance leases		65		65
Less: accumulated amortization		(12)		(6)
		53		59
Alterations to leased and owned buildings:
Cost		967		954
Less: accumulated amortization		(588)		(579)
		379		375
	$	920	$	917

Other Intangible Assets, Net

12 Months Ended

Jan. 28, 2023

Goodwill and Other Intangible Assets, Net [Abstract]

Other Intangible Assets, Net

10. Other Intangible Assets, net


		January 28, 2023							January 29, 2022
	Gross		Accum.		Net		Life in	Gross		Accum.		Net
($ in millions)	value		amort.		value		Years ⁽³⁾	value		amort.		value
Amortized intangible assets: ⁽¹⁾
Lease acquisition costs	$	102	$	(100)	$	2	9.4	$	107	$	(104)	$	3
Trademarks/tradenames		18		(18)		—	—		18		(18)		—
Customer lists		20		(9)		11	3.0		13		(2)		11
	$	140	$	(127)	$	13	5.0	$	138	$	(124)	$	14

Indefinite life intangible assets: ⁽¹⁾
Trademarks/tradenames ⁽²⁾					$	413						$	440
					$	426						$	454

(1)	The change in the ending balances also reflect the effect of foreign currency fluctuations due primarily to the movements of the Yen in relation to the U.S. dollar.

(2)	Includes a non-cash impairment charge of $8 million and $2 million recorded in 2022 and 2021, respectively, see Note 5, Impairment and Other.

(3)	Represents the weighted-average useful life as of January 28, 2023 and excludes those assets that are fully amortized.

In connection with the acquisitions of WSS and atmos, we recognized indefinite life intangible assets of $296 million for WSS related tradenames, $130 million for atmos related tradenames (a provisional amount of $135 million was recorded at January 29, 2022). 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 and lease acquisition costs, which are amounts that are required to secure prime lease locations, primarily in Europe. Amortization expense recorded is as follows:


($ in millions)	2022		2021		2020
Amortization expense	$	8	$	5	$	3

10. Other Intangible Assets, net (continued)

Estimated future amortization expense for finite lived intangibles for the next five years is as follows:


($ in millions)
2023	$	7
2024		5
2025		1

Other Assets

12 Months Ended

Jan. 28, 2023

Other Assets [Abstract]

Other Assets

11. Other Assets


($ in millions)	January 28, 2023		January 29, 2022
Restricted cash	$	33	$	38
Security deposits		29		33
Pension asset		4		21
Auction rate security		6		7
Other		20		22
	$	92	$	121

Accrued and Other Liabilities

12 Months Ended

Jan. 28, 2023

Accrued and Other Liabilities [Abstract]

Accrued and Other Liabilities

12. Accrued and Other Liabilities


($ in millions)	January 28, 2023		January 29, 2022
Other payroll and payroll related costs, excluding taxes	$	99	$	78
Incentive bonuses		72		82
Taxes other than income taxes		69		75
Property and equipment ⁽¹⁾		39		58
Customer deposits		39		50
Rent related costs		35		57
Advertising		30		34
Income taxes payable		39		11
Other		146		116
	$	568	$	561

(1)	Accruals for property and equipment are excluded from the Statements of Cash Flows for all years presented.

Revolving Credit Facility

12 Months Ended

Jan. 28, 2023

Revolving Credit Facility [Abstract]

Revolving Credit Facility

13. Revolving Credit Facility

We have a $600 million asset-based revolving credit facility that is scheduled to expire on July 14, 2025 (as amended, “2020 Credit Agreement”).

In 2021, we entered into an amendment to the 2020 Credit Agreement (“Amended Credit Agreement”). The amendment provides for, among other things, (i) reducing the interest rates and commitment fees applicable to the loans and commitments, respectively, as described below, and (ii) reducing the “floor” applicable. The amendment provides that the interest rate applicable to loans drawn under the credit facility will be equal to, at our option, either a base rate, determined by reference to the federal funds rate, plus a margin of 0.25% to 0.75% per annum, or a Eurodollar rate, determined by reference to LIBOR, plus a margin of 1.25% to 1.75% per annum, in each case, depending on availability under the Amended Credit Agreement. In addition, we will pay a commitment fee of 0.25% per annum on the unused portion of the commitments under the Amended Credit Agreement. No events of default occurred during 2022.

We may use the Amended Credit Agreement to, among other things, support standby letters of credit in connection with insurance programs. The letters of credit outstanding as of January 28, 2023 were not significant.

The unamortized balance of fees paid in connection with the credit facility at January 28, 2023 was $3 million. Interest expense, including facility fees, related to the revolving credit facility was $3 million, $3 million, and $5 million for 2022, 2021, and 2020, respectively.

Long-Term Debt and Obligations Under Finance Leases

12 Months Ended

Jan. 28, 2023

Long-Term Debt [Abstract]

Long-Term Debt

14. Long-Term Debt and Obligations Under Finance Leases

The components of long-term debt and obligations under finance leases are as follows:


	January 28,		January 29,
($ in millions)	2023		2022
4% Senior Notes due 2029	$	395	$	394
Obligations under finance leases		57		63
	$	452	$	457
Current portion of debt and obligations under finance leases		6		6
	$	446	$	451

Interest expense related to long-term debt and the amortization of the associated debt issuance costs was $17 million, $12 million and $8 million for 2022, 2021, and 2020, respectively.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Other Liabilities

12 Months Ended

Jan. 28, 2023

Other Liabilities [Abstract]

Other Liabilities

15. Other Liabilities


($ in millions)	January 28, 2023		January 29, 2022
Deferred taxes	$	237	$	224
Income taxes		31		28
Pension benefits		21		16
Contingent consideration		4		35
Other		35		40
	$	328	$	343

Leases

12 Months Ended

Jan. 28, 2023

Leases [Abstract]

Leases

16. Leases

The majority of our leases are operating leases for our company-operated retail store locations. We also lease, among other things, distribution and warehouse facilities, and office space for corporate administrative purposes. Operating lease periods generally range from 5 to 10 years and generally contain rent escalation provisions. Some of the store leases contain renewal options with varying terms and conditions.

Amounts recognized in the Consolidated Balance Sheet were as follows:


	January 28,		January 29,
($ in millions)	2023		2022
Operating leases:
Operating lease right-of-use assets	$	2,443	$	2,616

Operating lease liabilities classified as current	$	544	$	572
Operating lease liabilities classified as long-term		2,230		2,363
Total operating lease liabilities	$	2,774	$	2,935


	January 28,		January 29,
($ in millions)	2023		2022
Finance leases:
Property and equipment, net	$	53	$	59

Finance lease obligations classified as current	$	6	$	6
Finance lease obligations classified as long-term		51		57
Total finance lease obligations	$	57	$	63

16. Leases (continued)

Other information related to our leases as of January 28, 2023 and January 29, 2022 consisted of the following:


	January 28,		January 29,
	2023		2022
Weighted-average remaining lease term (years)
Operating leases	6.5		6.7
Finance leases	14.7		15.0
Weighted-average discount rate
Operating leases	5.0	%	4.7	%
Finance leases	4.3	%	4.2	%

Total lease costs include fixed operating lease costs, variable lease costs, and short-term lease costs. Most of our real estate leases require us to pay certain expenses, such as CAM costs, real estate taxes, and other executory costs, of which the fixed portion is included in operating lease costs. Variable lease costs include non-lease components which are not fixed and are not included in determining the present value of our lease liability. Variable lease costs also include amounts based on a percentage of gross sales in excess of specified levels that are recognized when probable.

Lease costs which relate to retail stores and distribution centers are classified within cost of sales, while non-store lease costs are included in SG&A. Amortization of leased equipment assets is classified in depreciation and amortization. The components of lease cost for 2022, 2021, and 2020 were as follows:


($ in millions)	2022		2021		2020
Operating lease costs	$	657	$	653	$	620
Variable lease costs		308		331		290
Short-term lease costs		19		23		23
Sublease income		(1)		(1)		(1)
Total operating lease costs		983		1,006		932
Finance lease costs:
Amortization of leased assets		6		4		1
Interest on lease liabilities		3		1		—
Total finance lease costs		9		5		1
Total lease cost	$	992	$	1,011	$	933

Maturities of lease liabilities as of January 28, 2023 are as follows:


($ in millions)	Operating leases		Finance leases		Total
2023	$	651	$	8	$	659
2024		576		8		584
2025		481		6		487
2026		387		4		391
2027		304		4		308
Thereafter		877		48		925
Total lease payments		3,276		78		3,354
Less: Interest		502		21		523
Total lease liabilities	$	2,774	$	57	$	2,831

As of January 28, 2023, we signed operating leases primarily for retail stores that have not yet commenced and the total future undiscounted lease payments under these leases are $102 million.

Accumulated Other Comprehensive Loss

12 Months Ended

Jan. 28, 2023

Accumulated Other Comprehensive Loss [Abstract]

Comprehensive Income (Loss) Note [Text Block]

17. Accumulated Other Comprehensive Loss


($ in millions)	2022		2021		2020
Foreign currency translation adjustments	$	(148)	$	(107)	$	(64)
Hedge contracts		(3)		—		(1)
Unrecognized pension cost and postretirement benefit		(241)		(236)		(266)
	$	(392)	$	(343)	$	(331)

The changes in AOCL for the year ended January 28, 2023 were as follows:


	Foreign				Items Related
	Currency				to Pension and
	Translation		Hedge		Postretirement
($ in millions)	Adjustments		Contracts		Benefits		Total
Balance as of January 29, 2022	$	(107)	$	—	$	(236)	$	(343)

OCI before reclassification		(41)		(3)		2		(42)
Amortization of pension actuarial loss, net of tax		—		—		7		7
Pension and postretirement remeasurement, net of tax		—		—		(14)		(14)
Other comprehensive income		(41)		(3)		(5)		(49)
Balance as of January 28, 2023	$	(148)	$	(3)	$	(241)	$	(392)

Reclassifications to income from AOCL for the year ended January 28, 2023 were as follows:


($ in millions)
Amortization of actuarial loss:
Pension benefits	$	10
Income tax benefit		(3)
Amortization of actuarial loss, net of tax	$	7

Income Taxes

12 Months Ended

Jan. 28, 2023

Income Taxes [Abstract]

Income Taxes

18. Income Taxes

The domestic and international components of pre-tax income are as follows:


($ in millions)	2022		2021		2020
Domestic	$	440	$	1,244	$	647
International		84		(4)		(153)
Total pre-tax income	$	524	$	1,240	$	494

Domestic pre-tax income includes the results of non-U.S. businesses that are operated in branches owned directly by the U.S. which, therefore, are subject to U.S. income tax.

The income tax provision consists of the following:


($ in millions)	2022		2021		2020
Current:
Federal	$	64	$	192	$	114
State and local		27		66		43
International		68		16		23
Total current tax provision		159		274		180
Deferred:
Federal		23		49		6
State and local		4		15		(2)
International		(6)		10		(13)
Total deferred tax provision		21		74		(9)
Total income tax provision	$	180	$	348	$	171

18. Income Taxes (continued)

Following the enactment of Public Law 115-97 (“Tax Act”) and the one-time transition tax, our historical foreign earnings are not subject to additional U.S. federal tax upon repatriation. Further, no additional U.S. federal tax will be due upon repatriation of current foreign earnings because they are either exempt or subject to U.S. tax as earned.

At January 28, 2023, we had accumulated undistributed foreign earnings of approximately $571 million. This amount consists of historical earnings that were previously taxed under the Tax Act and post-Tax Act earnings. Investments in our foreign subsidiaries, including working capital, will continue to be permanently reinvested. Cash balances in excess of working capital needs are considered to be available for repatriation to the United States and foreign withholding taxes will be accrued as necessary on these amounts.

We have not recorded a deferred tax liability for the difference between the financial statement carrying amount and the tax basis of our investments in foreign subsidiaries. The determination of any unrecorded deferred tax liability on this amount is not practicable due to the uncertainty of how these investments would be recovered.

A reconciliation of the significant differences between the federal statutory income tax rate and the effective income tax rate on pre-tax income is as follows:


	2022		2021		2020
Federal statutory income tax rate	21.0	%	21.0	%	21.0	%
Increase in valuation allowance	2.6		0.7		6.3
State and local income taxes, net of federal tax benefit	5.0		5.4		6.6
International income taxed at varying rates	8.4		2.4		4.3
Foreign tax credits	(3.6)		(1.4)		(2.4)
Domestic/foreign tax settlements	(0.5)		(0.3)		(0.5)
Federal tax credits	(0.4)		(0.1)		(0.4)
Other, net	1.8		0.4		(0.4)
Effective income tax rate	34.3	%	28.1	%	34.5	%

Deferred income taxes are provided for the effects of temporary differences between the amounts of assets and liabilities recognized for financial reporting purposes and the amounts recognized for income tax purposes. Items that give rise to significant portions of our deferred tax assets and liabilities are as follows:


	January 28,		January 29,
($ in millions)	2023		2022
Deferred tax assets:
Tax loss/credit carryforwards and capital loss	$	123	$	133
Employee benefits		42		38
Property and equipment		—		15
Operating leases - liabilities		725		720
Other		61		74
Total deferred tax assets	$	951	$	980
Valuation allowance		(93)		(80)
Total deferred tax assets, net	$	858	$	900
Deferred tax liabilities:
Merchandise inventories	$	87	$	68
Operating leases - assets		667		662
Goodwill and other intangible assets		123		155
Net investment gains		115		131
Property and equipment		6		—
Other		7		22
Total deferred tax liabilities	$	1,005	$	1,038
Net deferred tax liability	$	(147)	$	(138)
Balance Sheet caption reported in:
Deferred taxes	$	90	$	86
Other liabilities		(237)		(224)
	$	(147)	$	(138)

18. Income Taxes (continued)

Based upon the level of historical taxable income and projections for future taxable income, which are based upon our long-range strategic plans, management believes it is more likely than not that we will realize the benefits of deductible differences, net of the valuation allowances, over the periods in which the temporary differences are anticipated to reverse. However, the amount of the deferred tax asset considered realizable could be adjusted in the future if estimates of taxable income are revised.

As of January 28, 2023, we have a valuation allowance of $93 million to reduce our deferred tax assets to an amount that is more likely than not to be realized. A valuation allowance of $77 million was recorded against tax loss carryforwards of certain foreign entities. Based on the history of losses and the absence of prudent and feasible business plans for generating future taxable income in these entities, we believe it is more likely than not that the benefit of these loss carryforwards will not be realized. As of January 28, 2023, a valuation allowance of $15 million was established for foreign taxes assessed at rates in excess of the U.S. federal tax rate for which no U.S. foreign tax credit is available. Additionally, since we do not have any reasonably foreseeable sources of Canadian capital gains, a valuation allowance of $1 million was established since 2019 for a deferred tax asset arising from a capital loss.

At January 28, 2023, we have international minimum tax credit carryforwards with a potential tax benefit of $3 million and operating loss carryforwards with a potential tax benefit of $100 million, a portion of which will expire between 2023 and 2029 and a portion of which will never expire. We will have, when realized, a capital loss with a potential benefit of $1 million. The Canadian loss will carryforward indefinitely after realization. The international operating loss carryforwards include nominal unrecognized tax benefits. We also have foreign tax credit carrybacks and carryforwards with a potential tax benefit of $19 million that will expire between 2023 and 2032.

We operate in multiple taxing jurisdictions and are subject to audit. Audits can involve complex issues that may require an extended period of time to resolve. A taxing authority may challenge positions that we have adopted in our income tax filings. Accordingly, we may apply different tax treatments for transactions in filing the income tax returns than for income tax financial reporting. We regularly assess our tax positions for such transactions and record reserves for those differences. We participate in the IRS’s Compliance Assurance Process and the examination of our 2021 U.S. Federal income tax filing was concluded in February 2023. To date, no adjustments have been proposed in any audits that will have a material effect on our financial position or results of operations.

At January 28, 2023, we had $52 million of gross unrecognized tax benefits, of which $44 million would, if recognized, affect our annual effective tax rate. We classified certain income tax liabilities as current or noncurrent based on management’s estimate of when these liabilities will be settled. Interest expense and penalties related to unrecognized tax benefits are classified as income tax expense. Interest expense recognized was $6 million in 2022 and was not significant for any of the prior years presented.

The following table summarizes the activity related to unrecognized tax benefits:


($ in millions)	2022		2021		2020
Unrecognized tax benefits at beginning of year	$	41	$	47	$	45
Foreign currency translation adjustments		(1)		(2)		3
Increases related to current year tax positions		9		3		2
Increases related to prior period tax positions		7		2		3
Decreases related to prior period tax positions		—		(3)		—
Settlements		—		(1)		(1)
Lapse of statute of limitations		(4)		(5)		(5)
Unrecognized tax benefits at end of year	$	52	$	41	$	47

It is reasonably possible that the liability associated with our unrecognized tax benefits will increase or decrease within the next twelve months. These changes may be the result of foreign currency fluctuations, ongoing audits, or the expiration of statutes of limitations. Settlements during 2023 are not expected to be significant based on current estimates. Audit outcomes and the timing of audit settlements are subject to significant uncertainty. Although management believes that adequate provision has been made for such issues, the ultimate resolution could have an adverse effect on our earnings. Conversely, if these issues are resolved favorably in the future, the related provision would be reduced, generating a positive effect on earnings.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Financial Instruments and Risk Management

12 Months Ended

Jan. 28, 2023

Financial Instruments and Risk Management [Abstract]

Financial Instruments and Risk Management

19. Financial Instruments and Risk Management

We operate internationally and utilize certain derivative financial instruments to mitigate our foreign currency exposures, primarily related to third-party and intercompany forecasted transactions. As a result of the use of derivative instruments, we are exposed to the risk that counterparties will fail to meet their contractual obligations. To mitigate this counterparty credit risk, we have a practice of entering into contracts with major financial institutions selected based upon their credit ratings and other financial factors. We monitor the creditworthiness of counterparties throughout the duration of the derivative instrument.

Derivative Holdings Designated as Hedges

The primary currencies to which we are exposed are the euro, British pound, Canadian dollar, Australian dollar, and the Japanese Yen. Generally, merchandise inventories are purchased by each geographic area in their respective local currency with the exception of the United Kingdom, whose merchandise inventory purchases are primarily denominated in euros.

For option and foreign exchange forward contracts designated as cash flow hedges of the purchase of inventory, the effective portion of gains and losses is deferred as a component of AOCL and is recognized as a component of cost of sales when the related inventory is sold. The amount reclassified to cost of sales related to such contracts was not significant for any of the periods presented. The effective portion of gains or losses associated with other forward contracts is deferred as a component of AOCL until the underlying transaction is reported in earnings. The ineffective portion of gains and losses related to cash flow hedges recorded to earnings was not significant for any of the periods presented.

On May 6, 2022, we entered into a cross-currency swap contract to reduce the effect of the fluctuating U.S. Dollar (“USD”) to Japanese Yen (“JPY”) foreign exchange rate on our foreign currency-denominated intercompany loan between our Japanese and U.S. subsidiary. We expect the gains and losses on this contract to offset losses and gains on the hedged transaction in an effort to reduce the earnings volatility resulting from the remeasurement of the principal and interest accrued on the loan. Though the intercompany loan eliminates in consolidation, the foreign currency remeasurement of the loan and interest by the U.S. subsidiary is reflected in the consolidated financial statements.

The cross-currency swap contract has a notional amount of JPY 11 billion and final receipt of $85 million. The cross-currency swap contract, which matures on November 2, 2031, swaps Yen-denominated interest payments for U.S. dollar-denominated interest payments, thereby economically converting the JPY 11 billion fixed-rate 3.51% intercompany loan to a fixed-rate 6.77% USD-denominated receivable for our U.S. subsidiary.

We designated the cross-currency swap contract to hedge the changes in value of the intercompany loan and its variability on earnings. We apply fair value hedge accounting, and we consider market factors other than the change in the spot exchange rate on the notional amount of the swap to be excluded components. The foreign currency spot rate fluctuations on the cross-currency swap notional amount and interest accruals are reported in earnings each period, while all other changes are reported in other comprehensive income. Because the terms of the hedged item and the hedging instrument match and the likelihood of swap counterparty default is not probable, the hedge is expected to exactly offset changes in the fair value of the foreign currency debt resulting from to foreign currency fluctuations over the term of the swap.

As of January 28, 2023, the cross-currency swap had a fair value of $3 million and was included in other liabilities. We record the changes in the fair value of the contract to AOCL. Each period, we reclassify an amount out of AOCL equal to the remeasurement gain or loss on the hedged intercompany loan that is recorded in selling, general and administrative expenses. As of January 28, 2023, there was $3 million in AOCL, net of tax, related to the cross-currency swap. In addition, we recognize swap interest income based on the differential in fixed interest rates per the contract. During 2022, we recorded $2 million of income in interest expense, net. Refer to Note 17 for further information regarding amounts recorded in AOCL.

19. Financial Instruments and Risk Management (continued)

Derivative Holdings Not Designated as Hedges

We enter into certain derivative contracts that are not designated as hedges, such as foreign exchange forward contracts and currency option contracts. These derivative contracts are used to manage certain costs of foreign currency-denominated merchandise purchases, intercompany transactions, and the effect of fluctuating foreign exchange rates on the reporting of foreign currency-denominated earnings. Changes in the fair value of derivative holdings not designated as hedges, as well as realized gains and premiums paid, are recorded in earnings immediately within SG&A or Other income, net, depending on the type of transaction. The aggregate amount recognized for these contracts was not significant for any of the periods presented.

Fair Value of Derivative Contracts

The following represents the fair value of our derivative contracts.


	Balance Sheet	January 28,		January 29,
($ in millions)	Caption	2023		2022
Hedging Instruments:
Foreign exchange forward contracts	Current liabilities	$	—	$	1
Cross-currency swap	Non-current liabilities	$	3	$	—

Business Risk

The retail business is highly competitive. Price, quality, selection of merchandise, reputation, store location, advertising, and customer experience are important competitive factors in our business. We operate in 29 countries and purchased 86% of our merchandise in 2022 from our top 5 suppliers. In 2022, we purchased 65% of our athletic merchandise from one major supplier, Nike, Inc. (“Nike”). Each of our banners are highly dependent on Nike; they individually purchased approximately 50% to 75% of their merchandise from Nike.

Included in our Consolidated Balance Sheet at January 28, 2023, are the net assets of our European operations, which total $454 million and are located in 20 countries, 11 of which have adopted the euro as their functional currency.

Fair Value Measurements

12 Months Ended

Jan. 28, 2023

Fair Value Measurements [Abstract]

Fair Value Measurements

20. Fair Value Measurements

We categorize our financial instruments into a three-level fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument.

Fair value is determined based upon the exit price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants exclusive of any transaction costs. Our financial assets recorded at fair value are categorized as follows:

Level 1 - Quoted prices for identical instruments in active markets.

Level 2 - Observable inputs other than quoted prices included within Level 1, including quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs or significant value-drivers are observable in active markets.

Level 3 - Model-derived valuations in which one or more significant inputs or significant value-drivers are unobservable.

During 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 was classified as a Level 1 instrument since the fair value is readily available in an active market. During 2022, we sold our holdings in this investment.

20. Fair Value Measurements (continued)

Our auction rate security, classified as available-for-sale, is recorded within Other assets on the Consolidated Balance Sheet and is recorded at fair value with gains and losses reported in Other income, net in our Consolidated Statements of Operations. The fair value of the auction rate security 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. See Note 1 for further details.

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 January 28, 2023						As of January 29, 2022
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Assets
Minority investment in common stock	$	—	$	—	$	—	$	145	$	—	$	—
Available-for-sale security		—		6		—		—		7		—
Total assets	$	—	$	6	$	—	$	145	$	7	$	—
Liabilities
Contingent consideration	$	—	$	—	$	4	$	—	$	—	$	35
Foreign exchange forward contracts		—		—		—		—		1		—
Cross-currency swap contract		—		3		—		—		—		—
Total liabilities	$	—	$	3	$	4	$	—	$	1	$	35

There were no transfers into or out of Level 1, Level 2, or Level 3 for any of the periods presented.

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

Certain assets and liabilities are 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. The preferred stock of our minority investment in GOAT is measured using the fair value measurement alternative had a carrying value of $579 million for both January 28, 2023 and January 29, 2022. As of January 28, 2023, cumulative impairments on our portfolio of minority investments were $53 million.

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.


($ in millions)	January 28, 2023		January 29, 2022
Carrying value ⁽¹⁾	$	395	$	394
Fair value	$	338	$	389

(1)	The carrying value of debt for both periods reflect $5 million of issuer’s discount and costs related to 4% Notes due in 2029.

The carrying values of cash and cash equivalents, restricted cash, and other current receivables and payables approximate their fair value.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Retirement Plans and Other Benefits

12 Months Ended

Jan. 28, 2023

Retirement Plans and Other Benefits [Abstract]

Retirement Plans and Other Benefits

21. Retirement Plans and Other Benefits

Pension and Other Postretirement Plans

We have defined benefit pension plans covering certain of our North American employees. In May 2019, the U.S. qualified pension plan was amended such that all employees who were not participants in the plan as of December 31, 2019, will not become participants after such date. All benefit accruals were frozen as of December 31, 2019 for all plan participants with less than eleven years of service as of that date. For participants with more than eleven years of service as of December 31, 2019, benefit accruals were frozen as of December 31, 2022. Participants will continue to accrue interest at a fixed rate of 6% per year.

We also sponsor postretirement medical and life insurance plans, which are available to most of our retired U.S. employees. These plans are contributory and are not funded. These plans are not significant.

The following tables set forth the plans’ changes in benefit obligations and plan assets, funded status, and amounts recognized in the Consolidated Balance Sheets:



($ in millions)	2022		2021
Change in benefit obligation
Benefit obligation at beginning of year	$	674	$	753
Service cost		14		16
Interest cost		21		18
Plan participants’ contributions		—		—
Actuarial gains		(93)		(55)
Foreign currency translation adjustments		(2)		(1)
Benefits paid		(48)		(55)
Settlement		—		(2)
Benefit obligation at end of year	$	566	$	674

Change in plan assets
Fair value of plan assets at beginning of year	$	676	$	716
Actual return on plan assets		(83)		11
Employer contributions		3		3
Foreign currency translation adjustments		(2)		1
Benefits paid		(48)		(55)
Fair value of plan assets at end of year	$	546	$	676

Funded status	$	(20)	$	2

Amounts recognized on the balance sheet:
Other assets	$	4	$	21
Accrued and other liabilities		(3)		(3)
Other liabilities		(21)		(16)
	$	(20)	$	2

The Canadian qualified pension plan’s assets exceeded its accumulated benefit obligation for both 2022 and 2021. In 2021, the U.S. qualified pension plan’s assets exceeded its accumulated benefit obligation, however in 2022 the accumulated benefit obligation was greater than the plan’s assets. Our non-qualified pension plans have an accumulated benefit obligation in excess of plan assets, as these plans are unfunded. Accordingly, the table below reflects the U.S. non-qualified plans for 2022 and 2021 and the U.S. qualified plan for 2022.


($ in millions)	2022		2021
Projected benefit obligation	$	533	$	20
Accumulated benefit obligation		533		20
Fair value of plan assets		509		—

21. Retirement Plans and Other Benefits (continued)

The following table provides the amounts recognized in AOCL on a pre-tax basis:



($ in millions)
Net actuarial loss at beginning of year	$	320
Amortization of net loss		(10)
Loss arising during the year		21
Foreign currency fluctuations		(2)
Net actuarial loss at end of year	$	329

The actuarial losses recognized during 2022 were primarily driven lower actual return as compared with the expected return on plan assets partially offset by an increase in discount rates applied against future expected benefit payments, which resulted in a decrease in the benefit obligation for the pension benefit plans.

The following weighted-average assumptions were used to determine the benefit obligations under the plans:


	2022		2021
Discount rate	5.0	%	3.2	%
Rate of compensation increase	3.6	%	3.6	%

Pension expense is actuarially calculated annually based on data available at the beginning of each year. The expected return on plan assets is determined by multiplying the expected long-term rate of return on assets by the market-related value of plan assets for the U.S. qualified pension plan and market value for the Canadian qualified pension plan. The market-related value of plan assets is a calculated value that recognizes investment gains and losses in fair value related to equities over three or five years, depending on which computation results in a market-related value closer to market value. Market-related value for the U.S. qualified plan was $618 million and $652 million for 2022 and 2021, respectively.

Assumptions used in the calculation of net benefit cost include the discount rate selected and disclosed at the end of the previous year, as well as other assumptions detailed in the table below:


	2022		2021		2020
Discount rate	3.2	%	2.5	%	2.9	%
Rate of compensation increase	3.6	%	3.6	%	3.6	%
Expected long-term rate of return on assets	4.8	%	5.3	%	5.5	%

The expected long-term rate of return on invested plan assets is based on the plans’ weighted-average target asset allocation, as well as historical and future expected performance of those assets. The target asset allocation is selected to obtain an investment return that is sufficient to cover the expected benefit payments and to reduce the variability of our future contributions.

The following are the components of net periodic pension benefit cost. Service cost is recognized as a component of SG&A and the remaining pension and postretirement expense components are recognized as part of Other income, net.


($ in millions)	2022		2021		2020
Service cost	$	14	$	16	$	14
Interest cost		21		18		21
Expected return on plan assets		(31)		(35)		(37)
Amortization of net loss		10		10		12
Net benefit expense	$	14	$	9	$	10

The mortality assumption used to value the 2022 and 2021 U.S. pension obligations was the Pri-2012 mortality table with generational projection using MP-2021 for both males and females. For years ended January 28, 2023 and January 29, 2022, we used the 2014 CPM Private Sector mortality table projected generationally with Scale CPM-B for both males and females to value its Canadian pension obligations

21. Retirement Plans and Other Benefits (continued)

Plan Assets

The target composition of our U.S. qualified pension plan assets is 70% fixed-income securities, 28.5% equities, and 1.5% real estate. We may alter the asset allocation targets from time to time depending on market conditions and the funding requirements of the pension plan. This current asset allocation has and is expected to limit volatility with regard to the funded status of the plan, but may result in higher pension expense due to the lower long-term rate of return associated with fixed-income securities. Due to market conditions and other factors, actual asset allocations may vary from the target allocation outlined above. The target composition of our Canadian qualified pension plan assets is 95% fixed-income securities and 5% equities. We believe plan assets are invested in a conservative manner with the same overall objective and investment strategy as noted below for the U.S. pension plan. The bond portfolio is comprised of government and corporate bonds chosen to match the duration of the pension plan’s benefit payment obligations. This current asset allocation will limit future volatility.

We believe plan assets are invested in a conservative manner with an objective of providing a total return that, over the long term, provides sufficient assets to fund benefit obligations, taking into account our expected contributions and the level of funding risk deemed appropriate. Our investment strategy seeks to diversify assets among classes of investments with differing rates of return, volatility, and correlation in order to reduce funding risk. Diversification within asset classes is also utilized to ensure that there are no significant concentrations of risk in plan assets and to reduce the effect that the return on any single investment may have on the entire portfolio.

Valuation of Investments

Commingled trust funds are valued at the net asset value of units held by the plan at year end. Stocks and mutual funds traded on U.S. and Canadian security exchanges are valued at closing market prices on the measurement date. Each category of U.S. and Canadian plan assets is classified within the same level of the fair value hierarchy for 2022 and 2021.

The fair values of the U.S. pension plan assets at January 28, 2023 and January 29, 2022 were as follows:


($ in millions)	Level 1		Level 2		Level 3		2022 Total		2021 Total
Cash	$	2	$	—	$	—	$	2	$	—
Cash equivalents		—		1		—		1		4
Commingled funds:
Equity securities		—		130		—		130		163
Fixed-income securities		—		341		—		341		425
Real estate securities		—		8		—		8		9
Corporate stock		17		—		—		17		18
Mutual fund		10		—		—		10		12
Total assets at fair value	$	29	$	480	$	—	$	509	$	631

The fair values of the Canadian pension plan assets at January 28, 2023 and January 29, 2022 were as follows:


($ in millions)	Level 1		Level 2		Level 3		2022 Total		2021 Total
Cash equivalents	$	—	$	6	$	—	$	6	$	6
Equity securities:
Canadian and international		3		—		—		3		3
Fixed-income securities:
Cash matched bonds		—		28		—		28		36
Total assets at fair value	$	3	$	34	$	—	$	37	$	45

21. Retirement Plans and Other Benefits (continued)

Contributions and Expected Payments

We were not required to make any contributions to the U.S. qualified pension plan in 2022 and 2021. We do not anticipate making any contributions to the U.S. qualified pension plan in 2023 due to the strong funded status of the plan, however we continually evaluate the amount and timing of any potential contributions based on market conditions and other factors. We paid $3 million and $3 million in pension benefits related to our non-qualified pension plans during 2022 and 2021, respectively.

Estimated future benefit payments for each of the next five years and the five years thereafter are as follows:


($ in millions)
2023	$	68
2024		50
2025		47
2026		46
2027		44
2028-2032		198

Savings Plans

We have a 401(k) plan that is available to employees whose primary place of employment is the U.S., and another plan that is available to employees whose primary place of employment is in Puerto Rico. With the acquisition of WSS in 2021, we became the sponsor of the 401(k) plan for WSS employees. The charges for matching contributions were not significant for any of the periods presented.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
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+ Details

Share-Based Compensation

12 Months Ended

Jan. 28, 2023

Share-Based Compensation [Abstract]

Share-Based Compensation

22. Share-Based Compensation

Stock Awards

Under our 2007 Stock Incentive Plan (the “2007 Stock Plan”), stock options, restricted stock, restricted stock units, stock appreciation rights, or other share-based awards may be granted to nonemployee directors, officers and other employees, including our subsidiaries and operating divisions worldwide. Options for employees become exercisable in substantially equal annual installments over a three-year period, beginning with the first anniversary of the date of grant of the option, unless a shorter or longer duration is established at the time of the option grant. The options terminate ten years from the date of grant. On May 21, 2014, the 2007 Stock Plan was amended to increase the number of shares of common stock reserved for all awards to 14 million shares. As of January 28, 2023, there were 3,651,807 shares available for issuance under this plan.

On August 24, 2022, the Company granted options and other awards to its new President and Chief Executive Officer, Mary N. Dillon. These awards were granted outside of the 2007 Stock Incentive Plan as employment inducement awards and do not require shareholder approval under the rules of the New York Stock Exchange or otherwise. Shares available for future grant under this plan of 545,660 are reserved for the sole purpose to issue shares pursuant to her employment inducement awards.

Employees Stock Purchase Plan

Under our 2013 Foot Locker Employees Stock Purchase Plan (“ESPP”), participating employees are able to contribute up to 10% of their annual compensation, not to exceed $25,000 in any plan year, through payroll deductions to acquire shares of our common stock at 85% of the lower market price on one of two specified dates in each plan year. Of the 3,000,000 shares of common stock authorized under this plan, there were 1,854,858 shares available for purchase as of January 28, 2023. During 2022 and 2021, participating employees purchased 119,518 shares and 300,788 shares, respectively.

22. Share-Based Compensation (continued)

Share-Based Compensation Expense

Total compensation expense included in SG&A and the associated tax benefits recognized related to our share-based compensation plans, were as follows:
($ in millions)	2022		2021		2020
Options and employee stock purchase plan	$	5	$	6	$	6
Restricted stock units and performance stock units		26		23		9
Total share-based compensation expense	$	31	$	29	$	15

Tax benefit recognized	$	3	$	3	$	2

Valuation Model and Assumptions

The Black-Scholes option-pricing model is used to estimate the fair value of options and the stock purchase plan. The Black-Scholes option-pricing model incorporates various and subjective assumptions, including expected term and expected volatility.

We estimate the expected term of options using our historical exercise and post-vesting employment termination patterns, which we believe are representative of future behavior. The expected term for the employee stock purchase plan valuation is based on the length of each purchase period as measured at the beginning of the offering period, which is one year.

We estimate the expected volatility of our common stock at the grant date using a weighted-average of our historical volatility and implied volatility from traded options on our common stock. We believe that this combination of historical volatility and implied volatility provides a better estimate of future stock price volatility.

The risk-free interest rate assumption is determined using the Federal Reserve nominal rates for U.S. Treasury zero-coupon bonds with maturities similar to those of the expected term of the award being valued. The expected dividend yield is derived from our historical experience.

The following table shows the assumptions used to compute the share-based compensation expense:



	Stock Option Plans									Stock Purchase Plan
	2022			2021			2020			2022			2021			2020
Weighted-average risk free rate of interest		1.8	%		0.9	%		0.5	%		1.0	%		0.1	%		1.8	%
Expected volatility		35	%		47	%		37	%		40.0	%		45	%		48	%
Weighted-average expected award life (in years)		3.9			5.5			4.9			1.0			1.0			1.0
Dividend yield		2.7	%		1.5	%		4.3	%		2.6	%		4.0	%		4.2	%
Weighted-average fair value	$	10.80		$	20.22		$	5.03		$	18.46		$	9.61		$	13.97

22. Share-Based Compensation (continued)

The information set forth in the following table covers options granted under our 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	590				31.71
Exercised	(207)				28.15
Expired or cancelled	(338)				41.22
Options outstanding at January 28, 2023	3,256		4.5	$	47.85
Options exercisable at January 28, 2023	2,535		3.3	$	52.36

The total fair value of options vested was $4 million during 2022 and 2021. During the years ended January 28, 2023, and January 29, 2022, we received $6 million and $10 million in cash from option exercises and recognized a related tax benefit of an insignificant amount and $2 million, respectively.

The total intrinsic value of options exercised (the difference between the market price of the Company’s common stock on the exercise date and the price paid by the optionee to exercise the option) is presented below:


($ in millions)	2022		2021		2020
Exercised	$	1	$	8	$	3

The aggregate intrinsic value for stock options outstanding, and those outstanding and exercisable (the difference between the 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:


($ in millions)	2022
Outstanding	$	20
Outstanding and exercisable	$	11

As of January 28, 2023, there was $3 million of total unrecognized compensation cost related to nonvested stock options, which is expected to be recognized over a remaining weighted-average period of 1.5 years.

The following table summarizes information about stock options outstanding and exercisable at January 28, 2023:


	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	1,123	7.0	$	25.91	514	$	23.09
$39.17 - $48.98	459	2.9		44.84	445		45.02
$53.61 - $58.94	493	5.1		56.75	395		57.46
$62.02 - $72.83	1,181	2.4		66.14	1,181		66.14
	3,256	4.5	$	47.85	2,535	$	52.36

22. Share-Based Compensation (continued)

Restricted Stock Units and Performance Stock Units

Restricted stock units (“RSU”) may be 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. PSU awards granted in 2022 also include a performance objective based on our relative total shareholder return over the performance period to a pre-determined peer group, assuming the reinvestment of dividends. The fair value of these awards is determined using a Monte Carlo simulation as of the date of the grant and share-based compensation expense will not be adjusted should the target awards vary from actual awards.

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 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		1,242				31.42
Vested		(117)				54.29
Performance adjustment ⁽¹⁾		15
Forfeited		(539)				35.56
Nonvested at January 28, 2023		1,992		1.3	$	37.58

Aggregate value ($ in millions)	$	75

(1)	This represents adjustments made to PSU awards reflecting changes in estimates based upon our current performance against predefined financial targets.

The total fair value of awards vested was $6 million, $23 million, and $6 million, for 2022, 2021, and 2020, respectively. At January 28, 2023, there was $27 million of total unrecognized compensation cost related to nonvested awards.

Legal Proceedings

12 Months Ended

Jan. 28, 2023

Legal Proceedings [Abstract]

Legal Proceedings

23. 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, privacy, environmental, and employment-related claims. Additionally, the Company is a defendant in two purported class actions alleging wage/hour and wage statement violations in California.

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 Accounting Policies (Policy)

12 Months Ended

Jan. 28, 2023

Summary of Significant Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation

Reporting Year

Reporting Year

Revenue Recognition

Revenue Recognition

Advertising Costs and Sales Promotion

Advertising Costs and Sales Promotion

1. Summary of Significant Accounting Policies (continued)

Advertising costs, including digital advertising, which are included as a component of SG&A, were as follows:


($ in millions)	2022		2021		2020
Advertising expenses	$	135	$	113	$	69
Digital advertising expenses		87		110		89
Cooperative advertising reimbursements		(37)		(29)		(14)
Net advertising expense	$	185	$	194	$	144

Share-Based Compensation

Share-Based Compensation

Earnings Per Share

Earnings Per Share

The computation of basic and diluted EPS is as follows:


(in millions, except per share data)	2022		2021		2020
Income from continuing operations	$	344	$	892	$	323
Net loss attributable to noncontrolling interests		1		1		—
Income from continuing operations attributable to Foot Locker, Inc.		345		893		323
Net loss from discontinued operations, net of tax		(3)		—		—
Net income attributable to Foot Locker, Inc.	$	342	$	893	$	323

Weighted-average common shares outstanding		94.3		102.5		104.3
Dilutive effect of potential common shares		1.2		1.3		0.8
Weighted-average common shares outstanding assuming dilution		95.5		103.8		105.1

1. Summary of Significant Accounting Policies (continued)


(in millions, except per share data)	2022		2021		2020
Basic earnings per share
Earnings per share from continuing operations attributable to Foot Locker, Inc.	$	3.66	$	8.72	$	3.10
Net loss per share from discontinued operations, net of tax		(0.04)		—		—
Net earnings per share attributable to Foot Locker, Inc.	$	3.62	$	8.72	$	3.10

Diluted earnings per share
Earnings per share from continuing operations attributable to Foot Locker, Inc.	$	3.62	$	8.61	$	3.08
Net loss per share from discontinued operations, net of tax		(0.04)		—		—
Net earnings per share attributable to Foot Locker, Inc.	$	3.58	$	8.61	$	3.08

Anti-dilutive share-based awards excluded from diluted calculation		2.7		1.8		2.5

Cash, Cash Equivalents and Restricted Cash

Cash, Cash Equivalents, and Restricted Cash

The following table provides the reconciliation of cash, cash equivalents, and restricted cash, as reported on our consolidated statements of cash flows:


	January 28,		January 29,		January 30,
($ in millions)	2023		2022		2021
Cash and cash equivalents ⁽¹⁾	$	536	$	804	$	1,680
Restricted cash included in other current assets		13		8		8
Restricted cash included in other non-current assets		33		38		30
Cash, cash equivalents, and restricted cash	$	582	$	850	$	1,718

(1)	Includes cash equivalents of $41 million, $48 million, and $503 million for the years ended January 28, 2023, January 29, 2022, and February 1, 2020, respectively.

Property and Equipment

Property and Equipment

Depreciation and amortization are computed on a straight-line basis over the following estimated useful lives:



Buildings		Maximum of 50 years
Store leasehold improvements		Shorter of the asset useful life or expected term of the lease
Furniture, fixtures, and equipment		3‑10 years
Software		2‑5 years

Internal-Use Software Development Costs

1. Summary of Significant Accounting Policies (continued)

Internal-Use Software Development Costs

Impairment of Long-Lived Tangible Assets and Right-of-Use Assets

Impairment of Long-Lived Tangible Assets and Right-of-Use Assets

Derivative Financial Instruments

Derivative Financial Instruments

Income Taxes

Income Taxes

1. Summary of Significant Accounting Policies (continued)

Pension and Postretirement Obligations

Pension and Postretirement Obligations

1. Summary of Significant Accounting Policies (continued)

Insurance Liabilities

Insurance Liabilities

Foreign Currency Translation

Foreign Currency Translation

Recent Accounting Pronouncements

Recently Adopted 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.

Recent Accounting Pronouncements Not Yet Adopted

All recently issued accounting pronouncements are not expected to have a material effect on the consolidated financial statements.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jan. 28, 2023

Significant Accounting Policies [Line Items]

Activity of Gift Card Liability Balance

The table below presents the activity of our gift card liability balance:


	January 28,		January 29,
($ in millions)	2023		2022
Gift card liability at beginning of year	$	46	$	41
Liabilities acquired - WSS		—		1
Redemptions		(259)		(249)
Breakage recognized in sales		(17)		(17)
Activations		266		271
Foreign currency fluctuations		—		(1)
Gift card liability	$	36	$	46

Costs Included as Component of Selling, General and Administrative Expenses


($ in millions)	2022		2021		2020
Minority investment in Retailors, Ltd.	$	(61)	$	77	$	—
Share of earnings (losses) related to other minority investments		1		3		(1)
Team Sales divestiture		19		—		—
Minority investment in GOAT		—		290		190
Pension and postretirement net benefit income, excluding service cost		—		7		5
Other		(1)		7		(2)
Total other income / (expense), net	$	(42)	$	384	$	192

Computation of Basic and Diluted Earnings Per Share

The computation of basic and diluted EPS is as follows:


(in millions, except per share data)	2022		2021		2020
Income from continuing operations	$	344	$	892	$	323
Net loss attributable to noncontrolling interests		1		1		—
Income from continuing operations attributable to Foot Locker, Inc.		345		893		323
Net loss from discontinued operations, net of tax		(3)		—		—
Net income attributable to Foot Locker, Inc.	$	342	$	893	$	323

Weighted-average common shares outstanding		94.3		102.5		104.3
Dilutive effect of potential common shares		1.2		1.3		0.8
Weighted-average common shares outstanding assuming dilution		95.5		103.8		105.1

1. Summary of Significant Accounting Policies (continued)


(in millions, except per share data)	2022		2021		2020
Basic earnings per share
Earnings per share from continuing operations attributable to Foot Locker, Inc.	$	3.66	$	8.72	$	3.10
Net loss per share from discontinued operations, net of tax		(0.04)		—		—
Net earnings per share attributable to Foot Locker, Inc.	$	3.62	$	8.72	$	3.10

Diluted earnings per share
Earnings per share from continuing operations attributable to Foot Locker, Inc.	$	3.62	$	8.61	$	3.08
Net loss per share from discontinued operations, net of tax		(0.04)		—		—
Net earnings per share attributable to Foot Locker, Inc.	$	3.58	$	8.61	$	3.08

Anti-dilutive share-based awards excluded from diluted calculation		2.7		1.8		2.5

Reconciliation of Cash and Cash Equivalents

The following table provides the reconciliation of cash, cash equivalents, and restricted cash, as reported on our consolidated statements of cash flows:


	January 28,		January 29,		January 30,
($ in millions)	2023		2022		2021
Cash and cash equivalents ⁽¹⁾	$	536	$	804	$	1,680
Restricted cash included in other current assets		13		8		8
Restricted cash included in other non-current assets		33		38		30
Cash, cash equivalents, and restricted cash	$	582	$	850	$	1,718

(1)	Includes cash equivalents of $41 million, $48 million, and $503 million for the years ended January 28, 2023, January 29, 2022, and February 1, 2020, respectively.

Estimated Useful Lives

Depreciation and amortization are computed on a straight-line basis over the following estimated useful lives:



Buildings		Maximum of 50 years
Store leasehold improvements		Shorter of the asset useful life or expected term of the lease
Furniture, fixtures, and equipment		3‑10 years
Software		2‑5 years

Advertising Expense [Member]

Significant Accounting Policies [Line Items]

Costs Included as Component of Selling, General and Administrative Expenses

Advertising costs, including digital advertising, which are included as a component of SG&A, were as follows:


($ in millions)	2022		2021		2020
Advertising expenses	$	135	$	113	$	69
Digital advertising expenses		87		110		89
Cooperative advertising reimbursements		(37)		(29)		(14)
Net advertising expense	$	185	$	194	$	144

Acquisition (Tables)

12 Months Ended

Jan. 28, 2023

WSS [Member]

Business Combination Segment Allocation [Line Items]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed


($ 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 and accrued liabilities	$	(59)
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		(87)
Other liabilities		(4)

Goodwill		407
Total purchase price	$	809

atmos [Member]

Business Combination Segment Allocation [Line Items]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed


($ in millions)
Assets acquired:
Cash and cash equivalents	$	6
Merchandise inventories		20
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		(40)
Other liabilities		(8)

Goodwill ⁽¹⁾		249
Total purchase price ⁽²⁾	$	372

(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 $337 million in cash and $35 million of contingent consideration.

Revenue (Tables)

12 Months Ended

Jan. 28, 2023

Revenue [Abstract]

Disaggregation of Revenue


($ in millions)	2022		2021		2020
Sales by Channel
Stores	$	7,219	$	7,029	$	5,447
Direct-to-customers		1,528		1,929		2,101
Total sales		8,747		8,958		7,548
Licensing revenue		12		10		6
Total revenue	$	8,759	$	8,968	$	7,554

Revenue from External Customers by Geographic Areas

Revenue by geographic area is presented in the following table. Revenue is attributed to the country in which the transaction is fulfilled.


($ in millions)	2022		2021		2020
Revenue by Geography
United States	$	5,981	$	6,477	$	5,581
International		2,778		2,491		1,973
Total revenue	$	8,759	$	8,968	$	7,554

Revenue by Segment

Sales by banner and operating segments are presented in the following table.


($ in millions)	2022		2021		2020
Foot Locker	$	3,304	$	3,295	$	2,835
Champs Sports		1,681		1,939		1,610
Kids Foot Locker		708		724		590
WSS		604		195		—
Other		126		742		903
North America		6,423		6,895		5,938
Foot Locker		1,628		1,565		1,250
Sidestep		94		76		46
Other		—		—		47
EMEA		1,722		1,641		1,343
Foot Locker		414		373		267
atmos		188		49		—
Asia Pacific		602		422		267
Total sales	$	8,747	$	8,958	$	7,548

Activity of Gift Card Liability Balance

The table below presents the activity of our gift card liability balance:


	January 28,		January 29,
($ in millions)	2023		2022
Gift card liability at beginning of year	$	46	$	41
Liabilities acquired - WSS		—		1
Redemptions		(259)		(249)
Breakage recognized in sales		(17)		(17)
Activations		266		271
Foreign currency fluctuations		—		(1)
Gift card liability	$	36	$	46

Segment Information (Tables)

12 Months Ended

Jan. 28, 2023

Segment Information [Abstract]

Sales and Division Operating Results for Reportable Segments

The following table summarizes our results:


($ in millions)	2022		2021		2020
Division profit	$	844	$	1,171	$	497
Less: Impairment and other ⁽¹⁾		112		172		117
Less: Corporate expense ⁽²⁾		151		129		71
Income from operations		581		870		309
Interest expense, net		(15)		(14)		(7)
Other income / (expense), net ⁽³⁾		(42)		384		192
Income from continuing operations before income taxes	$	524	$	1,240	$	494

(1)	See Note 5, Impairment and Other for additional information on these amounts.

(2)

(3)	See Note 6, Other Income / (expense), net for additional information on these amounts.

Sales and Long-Lived Asset Information by Geographic Area


($ in millions)	2022		2021		2020
Long-Lived Assets
United States	$	2,152	$	2,285	$	2,218
International		1,211		1,248		1,286
Total long-lived assets	$	3,363	$	3,533	$	3,504

Segment Information


	Depreciation and
	Amortization						Capital Expenditures ⁽¹⁾						Total Assets
($ in millions)	2022		2021		2020		2022		2021		2020		2022		2021		2020
Division	$	169	$	163	$	152	$	200	$	127	$	88	$	7,178	$	7,184	$	5,159
Corporate		39		34		24		85		82		71		729		951		1,884
Total	$	208	$	197	$	176	$	285	$	209	$	159	$	7,907	$	8,135	$	7,043

(1) Represents cash capital expenditures for all years presented.

Impairment and Other Charges (Tables)

12 Months Ended

Jan. 28, 2023

Impairment and Other Charges [Abstract]

Schedule of Impairment and Other Charges


($ in millions)	2022		2021		2020
Impairment of long-lived assets and right-of-use assets	$	58	$	92	$	77
Transformation consulting		42		—		—
Reorganization costs		22		4		7
Litigation costs		9		—		—
Other intangible asset impairments		8		2		—
Acquisition and integration costs		4		24		—
Change in fair value of contingent consideration		(31)		—		—
Impairment of investments		—		42		4
Lease termination costs		—		15		—
(Insurance recovery)/ losses related to social unrest		—		(7)		8
Runners Point shut down		—		—		19
Pension litigation related charges		—		—		2
Total impairment and other	$	112	$	172	$	117

Other Income / (Expense), net (Tables)

12 Months Ended

Jan. 28, 2023

Other Income / (Expense), net [Abstract]

Schedule of Other Operating Cost and Expense, by Component [Table Text Block]


($ in millions)	2022		2021		2020
Minority investment in Retailors, Ltd.	$	(61)	$	77	$	—
Share of earnings (losses) related to other minority investments		1		3		(1)
Team Sales divestiture		19		—		—
Minority investment in GOAT		—		290		190
Pension and postretirement net benefit income, excluding service cost		—		7		5
Other		(1)		7		(2)
Total other income / (expense), net	$	(42)	$	384	$	192

Merchandise Inventories (Tables)

12 Months Ended

Jan. 28, 2023

Merchandise Inventories [Abstract]

Schedule of Merchandise Inventories


($ in millions)	January 28, 2023		January 29, 2022
LIFO inventories	$	1,093	$	788
FIFO inventories		550		478
Total merchandise inventories	$	1,643	$	1,266

Other Current Assets (Tables)

12 Months Ended

Jan. 28, 2023

Other Current Assets [Abstract]

Schedule of Other Current Assets


($ in millions)	January 28, 2023		January 29, 2022
Net receivables	$	160	$	134
Prepaid income taxes		62		56
Other prepaid expenses		71		64
Prepaid rent		19		19
Restricted cash		13		8
Other		17		12
	$	342	$	293

Property and Equipment, Net (Tables)

12 Months Ended

Jan. 28, 2023

Property and Equipment, Net [Abstract]

Schedule of Property and Equipment


($ in millions)	January 28, 2023		January 29, 2022
Owned properties:
Land	$	4	$	4
Buildings		53		52
Furniture, fixtures, equipment and software development costs		1,379		1,329
		1,436		1,385
Less: accumulated depreciation		(948)		(902)
		488		483
Finance leases:
Assets under finance leases		65		65
Less: accumulated amortization		(12)		(6)
		53		59
Alterations to leased and owned buildings:
Cost		967		954
Less: accumulated amortization		(588)		(579)
		379		375
	$	920	$	917

Other Intangible Assets, Net (Tables)

12 Months Ended

Jan. 28, 2023

Goodwill and Other Intangible Assets, Net [Abstract]

Components of Intangible Assets


		January 28, 2023							January 29, 2022
	Gross		Accum.		Net		Life in	Gross		Accum.		Net
($ in millions)	value		amort.		value		Years ⁽³⁾	value		amort.		value
Amortized intangible assets: ⁽¹⁾
Lease acquisition costs	$	102	$	(100)	$	2	9.4	$	107	$	(104)	$	3
Trademarks/tradenames		18		(18)		—	—		18		(18)		—
Customer lists		20		(9)		11	3.0		13		(2)		11
	$	140	$	(127)	$	13	5.0	$	138	$	(124)	$	14

Indefinite life intangible assets: ⁽¹⁾
Trademarks/tradenames ⁽²⁾					$	413						$	440
					$	426						$	454

(1)	The change in the ending balances also reflect the effect of foreign currency fluctuations due primarily to the movements of the Yen in relation to the U.S. dollar.

(2)	Includes a non-cash impairment charge of $8 million and $2 million recorded in 2022 and 2021, respectively, see Note 5, Impairment and Other.

(3)	Represents the weighted-average useful life as of January 28, 2023 and excludes those assets that are fully amortized.

Amortization Expense

Amortization expense recorded is as follows:


($ in millions)	2022		2021		2020
Amortization expense	$	8	$	5	$	3

Estimated Future Expected Amortization Expense for Finite Life Intangible Assets

Estimated future amortization expense for finite lived intangibles for the next five years is as follows:


($ in millions)
2023	$	7
2024		5
2025		1

Other Assets (Tables)

12 Months Ended

Jan. 28, 2023

Other Assets [Abstract]

Schedule of Other Assets


($ in millions)	January 28, 2023		January 29, 2022
Restricted cash	$	33	$	38
Security deposits		29		33
Pension asset		4		21
Auction rate security		6		7
Other		20		22
	$	92	$	121

Accrued and Other Liabilities (Tables)

12 Months Ended

Jan. 28, 2023

Accrued and Other Liabilities [Abstract]

Schedule of Accrued and Other Liabilities


($ in millions)	January 28, 2023		January 29, 2022
Other payroll and payroll related costs, excluding taxes	$	99	$	78
Incentive bonuses		72		82
Taxes other than income taxes		69		75
Property and equipment ⁽¹⁾		39		58
Customer deposits		39		50
Rent related costs		35		57
Advertising		30		34
Income taxes payable		39		11
Other		146		116
	$	568	$	561

Long-Term Debt and Obligations Under Finance Leases (Tables)

12 Months Ended

Jan. 28, 2023

Long-Term Debt [Abstract]

Schedule of Debt

The components of long-term debt and obligations under finance leases are as follows:


	January 28,		January 29,
($ in millions)	2023		2022
4% Senior Notes due 2029	$	395	$	394
Obligations under finance leases		57		63
	$	452	$	457
Current portion of debt and obligations under finance leases		6		6
	$	446	$	451

Other Liabilities (Tables)

12 Months Ended

Jan. 28, 2023

Other Liabilities [Abstract]

Other Liabilities


($ in millions)	January 28, 2023		January 29, 2022
Deferred taxes	$	237	$	224
Income taxes		31		28
Pension benefits		21		16
Contingent consideration		4		35
Other		35		40
	$	328	$	343

Leases (Tables)

12 Months Ended

Jan. 28, 2023

Leases [Abstract]

Summary of amounts recognized in Condensed Consolidated Balance Sheet related to operating leases

Amounts recognized in the Consolidated Balance Sheet were as follows:


	January 28,		January 29,
($ in millions)	2023		2022
Operating leases:
Operating lease right-of-use assets	$	2,443	$	2,616

Operating lease liabilities classified as current	$	544	$	572
Operating lease liabilities classified as long-term		2,230		2,363
Total operating lease liabilities	$	2,774	$	2,935


	January 28,		January 29,
($ in millions)	2023		2022
Finance leases:
Property and equipment, net	$	53	$	59

Finance lease obligations classified as current	$	6	$	6
Finance lease obligations classified as long-term		51		57
Total finance lease obligations	$	57	$	63

Summary of other information related to operating leases


	January 28,		January 29,
	2023		2022
Weighted-average remaining lease term (years)
Operating leases	6.5		6.7
Finance leases	14.7		15.0
Weighted-average discount rate
Operating leases	5.0	%	4.7	%
Finance leases	4.3	%	4.2	%

Summary of components of lease cost


($ in millions)	2022		2021		2020
Operating lease costs	$	657	$	653	$	620
Variable lease costs		308		331		290
Short-term lease costs		19		23		23
Sublease income		(1)		(1)		(1)
Total operating lease costs		983		1,006		932
Finance lease costs:
Amortization of leased assets		6		4		1
Interest on lease liabilities		3		1		—
Total finance lease costs		9		5		1
Total lease cost	$	992	$	1,011	$	933

Summary of maturities of lease liabilities


($ in millions)	2022		2021		2020
Operating lease costs	$	657	$	653	$	620
Variable lease costs		308		331		290
Short-term lease costs		19		23		23
Sublease income		(1)		(1)		(1)
Total operating lease costs		983		1,006		932
Finance lease costs:
Amortization of leased assets		6		4		1
Interest on lease liabilities		3		1		—
Total finance lease costs		9		5		1
Total lease cost	$	992	$	1,011	$	933

Maturities of lease liabilities as of January 28, 2023 are as follows:


($ in millions)	Operating leases		Finance leases		Total
2023	$	651	$	8	$	659
2024		576		8		584
2025		481		6		487
2026		387		4		391
2027		304		4		308
Thereafter		877		48		925
Total lease payments		3,276		78		3,354
Less: Interest		502		21		523
Total lease liabilities	$	2,774	$	57	$	2,831

Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Jan. 28, 2023

Accumulated Other Comprehensive Loss [Abstract]

Accumulated Other Comprehensive Loss


($ in millions)	2022		2021		2020
Foreign currency translation adjustments	$	(148)	$	(107)	$	(64)
Hedge contracts		(3)		—		(1)
Unrecognized pension cost and postretirement benefit		(241)		(236)		(266)
	$	(392)	$	(343)	$	(331)

Changes in Accumulated Other Comprehensive Loss


($ in millions)	2022		2021		2020
Foreign currency translation adjustments	$	(148)	$	(107)	$	(64)
Hedge contracts		(3)		—		(1)
Unrecognized pension cost and postretirement benefit		(241)		(236)		(266)
	$	(392)	$	(343)	$	(331)

The changes in AOCL for the year ended January 28, 2023 were as follows:


	Foreign				Items Related
	Currency				to Pension and
	Translation		Hedge		Postretirement
($ in millions)	Adjustments		Contracts		Benefits		Total
Balance as of January 29, 2022	$	(107)	$	—	$	(236)	$	(343)

OCI before reclassification		(41)		(3)		2		(42)
Amortization of pension actuarial loss, net of tax		—		—		7		7
Pension and postretirement remeasurement, net of tax		—		—		(14)		(14)
Other comprehensive income		(41)		(3)		(5)		(49)
Balance as of January 28, 2023	$	(148)	$	(3)	$	(241)	$	(392)

Reclassification from Accumulated Other Comprehensive Loss

Reclassifications to income from AOCL for the year ended January 28, 2023 were as follows:


($ in millions)
Amortization of actuarial loss:
Pension benefits	$	10
Income tax benefit		(3)
Amortization of actuarial loss, net of tax	$	7

Income Taxes (Tables)

12 Months Ended

Jan. 28, 2023

Income Taxes [Abstract]

Domestic and International Pre-Tax Income

The domestic and international components of pre-tax income are as follows:


($ in millions)	2022		2021		2020
Domestic	$	440	$	1,244	$	647
International		84		(4)		(153)
Total pre-tax income	$	524	$	1,240	$	494

Income Tax Provision

The income tax provision consists of the following:


($ in millions)	2022		2021		2020
Current:
Federal	$	64	$	192	$	114
State and local		27		66		43
International		68		16		23
Total current tax provision		159		274		180
Deferred:
Federal		23		49		6
State and local		4		15		(2)
International		(6)		10		(13)
Total deferred tax provision		21		74		(9)
Total income tax provision	$	180	$	348	$	171

Reconciliation of Significant Differences between Federal Statutory Income Tax Rate and Effective Income Tax Rate on Pre-Tax Income from Continuing Operations


	2022		2021		2020
Federal statutory income tax rate	21.0	%	21.0	%	21.0	%
Increase in valuation allowance	2.6		0.7		6.3
State and local income taxes, net of federal tax benefit	5.0		5.4		6.6
International income taxed at varying rates	8.4		2.4		4.3
Foreign tax credits	(3.6)		(1.4)		(2.4)
Domestic/foreign tax settlements	(0.5)		(0.3)		(0.5)
Federal tax credits	(0.4)		(0.1)		(0.4)
Other, net	1.8		0.4		(0.4)
Effective income tax rate	34.3	%	28.1	%	34.5	%

Significant Portions of Deferred Tax Accounts

Items that give rise to significant portions of our deferred tax assets and liabilities are as follows:


	January 28,		January 29,
($ in millions)	2023		2022
Deferred tax assets:
Tax loss/credit carryforwards and capital loss	$	123	$	133
Employee benefits		42		38
Property and equipment		—		15
Operating leases - liabilities		725		720
Other		61		74
Total deferred tax assets	$	951	$	980
Valuation allowance		(93)		(80)
Total deferred tax assets, net	$	858	$	900
Deferred tax liabilities:
Merchandise inventories	$	87	$	68
Operating leases - assets		667		662
Goodwill and other intangible assets		123		155
Net investment gains		115		131
Property and equipment		6		—
Other		7		22
Total deferred tax liabilities	$	1,005	$	1,038
Net deferred tax liability	$	(147)	$	(138)
Balance Sheet caption reported in:
Deferred taxes	$	90	$	86
Other liabilities		(237)		(224)
	$	(147)	$	(138)

Unrecognized Tax Benefits Activity


($ in millions)	2022		2021		2020
Unrecognized tax benefits at beginning of year	$	41	$	47	$	45
Foreign currency translation adjustments		(1)		(2)		3
Increases related to current year tax positions		9		3		2
Increases related to prior period tax positions		7		2		3
Decreases related to prior period tax positions		—		(3)		—
Settlements		—		(1)		(1)
Lapse of statute of limitations		(4)		(5)		(5)
Unrecognized tax benefits at end of year	$	52	$	41	$	47

Financial Instruments and Risk Management (Tables)

12 Months Ended

Jan. 28, 2023

Financial Instruments and Risk Management [Abstract]

Fair Value of Derivative Contracts on Gross Basis, by Type of Contract


	Balance Sheet	January 28,		January 29,
($ in millions)	Caption	2023		2022
Hedging Instruments:
Foreign exchange forward contracts	Current liabilities	$	—	$	1
Cross-currency swap	Non-current liabilities	$	3	$	—

Fair Value Measurements (Tables)

12 Months Ended

Jan. 28, 2023

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 January 28, 2023						As of January 29, 2022
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Assets
Minority investment in common stock	$	—	$	—	$	—	$	145	$	—	$	—
Available-for-sale security		—		6		—		—		7		—
Total assets	$	—	$	6	$	—	$	145	$	7	$	—
Liabilities
Contingent consideration	$	—	$	—	$	4	$	—	$	—	$	35
Foreign exchange forward contracts		—		—		—		—		1		—
Cross-currency swap contract		—		3		—		—		—		—
Total liabilities	$	—	$	3	$	4	$	—	$	1	$	35

Carrying Value and Estimated Fair Value of Long-Term Debt


($ in millions)	January 28, 2023		January 29, 2022
Carrying value ⁽¹⁾	$	395	$	394
Fair value	$	338	$	389

Retirement Plans and Other Benefits (Tables)

12 Months Ended

Jan. 28, 2023

Defined Benefit Plan Disclosure [Line Items]

Changes in Benefit Obligations and Plan Assets, Funded Status, and Amounts Recognized in Consolidated Balance Sheets

The following tables set forth the plans’ changes in benefit obligations and plan assets, funded status, and amounts recognized in the Consolidated Balance Sheets:



($ in millions)	2022		2021
Change in benefit obligation
Benefit obligation at beginning of year	$	674	$	753
Service cost		14		16
Interest cost		21		18
Plan participants’ contributions		—		—
Actuarial gains		(93)		(55)
Foreign currency translation adjustments		(2)		(1)
Benefits paid		(48)		(55)
Settlement		—		(2)
Benefit obligation at end of year	$	566	$	674

Change in plan assets
Fair value of plan assets at beginning of year	$	676	$	716
Actual return on plan assets		(83)		11
Employer contributions		3		3
Foreign currency translation adjustments		(2)		1
Benefits paid		(48)		(55)
Fair value of plan assets at end of year	$	546	$	676

Funded status	$	(20)	$	2

Amounts recognized on the balance sheet:
Other assets	$	4	$	21
Accrued and other liabilities		(3)		(3)
Other liabilities		(21)		(16)
	$	(20)	$	2

Information for Pension Plans with Accumulated Benefit Obligation in Excess of Plan Assets

Accordingly, the table below reflects the U.S. non-qualified plans for 2022 and 2021 and the U.S. qualified plan for 2022.

Changes in Accumulated Other Comprehensive Loss (Pre-Tax)


($ in millions)	2022		2021
Projected benefit obligation	$	533	$	20
Accumulated benefit obligation		533		20
Fair value of plan assets		509		—

21. Retirement Plans and Other Benefits (continued)

The following table provides the amounts recognized in AOCL on a pre-tax basis:



($ in millions)
Net actuarial loss at beginning of year	$	320
Amortization of net loss		(10)
Loss arising during the year		21
Foreign currency fluctuations		(2)
Net actuarial loss at end of year	$	329

Assumptions Used in the Calculation of Net Benefit Cost

Assumptions used in the calculation of net benefit cost include the discount rate selected and disclosed at the end of the previous year, as well as other assumptions detailed in the table below:


	2022		2021		2020
Discount rate	3.2	%	2.5	%	2.9	%
Rate of compensation increase	3.6	%	3.6	%	3.6	%
Expected long-term rate of return on assets	4.8	%	5.3	%	5.5	%

Net Benefit Expense (Income)

The following are the components of net periodic pension benefit cost.


($ in millions)	2022		2021		2020
Service cost	$	14	$	16	$	14
Interest cost		21		18		21
Expected return on plan assets		(31)		(35)		(37)
Amortization of net loss		10		10		12
Net benefit expense	$	14	$	9	$	10

Estimated Future Benefit Payments

Estimated future benefit payments for each of the next five years and the five years thereafter are as follows:


($ in millions)
2023	$	68
2024		50
2025		47
2026		46
2027		44
2028-2032		198

United States

Defined Benefit Plan Disclosure [Line Items]

Fair Value of Pension Plan Assets

The fair values of the U.S. pension plan assets at January 28, 2023 and January 29, 2022 were as follows:


($ in millions)	Level 1		Level 2		Level 3		2022 Total		2021 Total
Cash	$	2	$	—	$	—	$	2	$	—
Cash equivalents		—		1		—		1		4
Commingled funds:
Equity securities		—		130		—		130		163
Fixed-income securities		—		341		—		341		425
Real estate securities		—		8		—		8		9
Corporate stock		17		—		—		17		18
Mutual fund		10		—		—		10		12
Total assets at fair value	$	29	$	480	$	—	$	509	$	631

Canadian Qualified Pension Plan [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair Value of Pension Plan Assets

The fair values of the Canadian pension plan assets at January 28, 2023 and January 29, 2022 were as follows:


($ in millions)	Level 1		Level 2		Level 3		2022 Total		2021 Total
Cash equivalents	$	—	$	6	$	—	$	6	$	6
Equity securities:
Canadian and international		3		—		—		3		3
Fixed-income securities:
Cash matched bonds		—		28		—		28		36
Total assets at fair value	$	3	$	34	$	—	$	37	$	45

Benefit Obligations [Member]

Defined Benefit Plan Disclosure [Line Items]

Assumptions Used in the Calculation of Net Benefit Cost

The following weighted-average assumptions were used to determine the benefit obligations under the plans:


	2022		2021
Discount rate	5.0	%	3.2	%
Rate of compensation increase	3.6	%	3.6	%

Share-Based Compensation (Tables)

12 Months Ended

Jan. 28, 2023

Share-Based Compensation [Abstract]

Total Compensation Expense and the Related Tax Benefits Recognized

Share-Based Compensation Expense

Total compensation expense included in SG&A and the associated tax benefits recognized related to our share-based compensation plans, were as follows:
($ in millions)	2022		2021		2020
Options and employee stock purchase plan	$	5	$	6	$	6
Restricted stock units and performance stock units		26		23		9
Total share-based compensation expense	$	31	$	29	$	15

Tax benefit recognized	$	3	$	3	$	2

Assumptions used to Compute Share-Based Compensation Expense



	Stock Option Plans									Stock Purchase Plan
	2022			2021			2020			2022			2021			2020
Weighted-average risk free rate of interest		1.8	%		0.9	%		0.5	%		1.0	%		0.1	%		1.8	%
Expected volatility		35	%		47	%		37	%		40.0	%		45	%		48	%
Weighted-average expected award life (in years)		3.9			5.5			4.9			1.0			1.0			1.0
Dividend yield		2.7	%		1.5	%		4.3	%		2.6	%		4.0	%		4.2	%
Weighted-average fair value	$	10.80		$	20.22		$	5.03		$	18.46		$	9.61		$	13.97

Options Granted under Stock Option Plans

The information set forth in the following table covers options granted under our 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	590				31.71
Exercised	(207)				28.15
Expired or cancelled	(338)				41.22
Options outstanding at January 28, 2023	3,256		4.5	$	47.85
Options exercisable at January 28, 2023	2,535		3.3	$	52.36

Total Intrinsic Value of Options Exercised


($ in millions)	2022		2021		2020
Exercised	$	1	$	8	$	3

Aggregate Intrinsic Value for Stock Options Outstanding and Exercisable


($ in millions)	2022
Outstanding	$	20
Outstanding and exercisable	$	11

Information about Stock Options Outstanding and Exercisable

The following table summarizes information about stock options outstanding and exercisable at January 28, 2023:


	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	1,123	7.0	$	25.91	514	$	23.09
$39.17 - $48.98	459	2.9		44.84	445		45.02
$53.61 - $58.94	493	5.1		56.75	395		57.46
$62.02 - $72.83	1,181	2.4		66.14	1,181		66.14
	3,256	4.5	$	47.85	2,535	$	52.36

Restricted Share and Unit Activity

RSU and PSU activity 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		1,242				31.42
Vested		(117)				54.29
Performance adjustment ⁽¹⁾		15
Forfeited		(539)				35.56
Nonvested at January 28, 2023		1,992		1.3	$	37.58

Aggregate value ($ in millions)	$	75

(1)	This represents adjustments made to PSU awards reflecting changes in estimates based upon our current performance against predefined financial targets.

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Significant Accounting Policies [Line Items]
Shares of common stock repurchased to satisfy tax withholding obligations	$ 1	$ 11	$ 1
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 3,293	$ 3,243	$ 2,776	$ 2,473
Contingently Issuable Shares Excluded From Diluted Earnings Per Share	400,000	400,000	400,000
Cash equivalents	$ 41	$ 48	$ 503
Investments	579	725
Equity method investments	51	56
Capitalized software, net of accumulated amortization	87	103
Goodwill accumulated impairment charges	167	167
Self-insured liabilities total	13	$ 14	13
Retirement of treasury stock (in shares)		5,474,288
Operating Lease, Right-of-Use Asset	2,443	$ 2,616
Operating Lease, Liability	$ 2,774	2,935
Treasury Stock [Member]
Significant Accounting Policies [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest		$ (88)	$ (3)
Retirement of treasury stock (in shares)	6,019,212	5,474,000	913,000
Retirement of treasury stock	$ (213)	$ (260)	$ (34)
Retained Earnings
Significant Accounting Policies [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	2,925	2,900	2,326	2,103
Retirement of treasury stock	167	218	27
Accumulated Other Comprehensive Loss [Member]
Significant Accounting Policies [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ (392)	$ (343)	$ (331)	$ (394)
Restricted Stock and Units [Member]
Significant Accounting Policies [Line Items]
Award vesting period	3 years

Summary of Significant Accounting Policies (Costs Included as Net Advertising Expenses) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Summary of Significant Accounting Policies [Abstract]
Advertising expenses	$ 135	$ 113	$ 69
Digital advertising expense	87	110	89
Cooperative advertising reimbursements	(37)	(29)	(14)
Net advertising expense	$ 185	$ 194	$ 144

Summary of Significant Accounting Policies (Computation of Basic and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Summary of Significant Accounting Policies [Abstract]
Net income from continuing operations	$ 344	$ 892	$ 323
Net loss attributable to noncontrolling interests	1	1
Income from continuing operations attributable to Foot Locker, Inc.	345	893	323
Net loss from discontinued operations, net of tax	(3)
Net income attributable to Foot Locker, Inc.	$ 342	$ 893	$ 323
Weighted-average shares outstanding	94.3	102.5	104.3
Dilutive effect of potential common shares	1.2	1.3	0.8
Weighted-average common shares outstanding assuming dilution	95.5	103.8	105.1
Basic earnings per share
Earnings per share from continuing operations attributable to Foot Locker, Inc.	$ 3.66	$ 8.72	$ 3.10
Net loss per share from discontinued operations, net of tax	(0.04)
Net earnings per share attributable to Foot Locker, Inc.	3.62	8.72	3.10
Diluted earnings per share
Earnings per share from continuing operations attributable to Foot Locker, Inc.	3.62	8.61	3.08
Net loss per share from discontinued operations, net of tax	(0.04)
Net earnings per share attributable to Foot Locker, Inc.	$ 3.58	$ 8.61	$ 3.08
Anti-dilutive share-based awards excluded from diluted calculation	2.7	1.8	2.5

Summary of Significant Accounting Policies (Restricted Cash (Reconciliation of Cash and Cash Equivalents)) (Details) - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Restricted Cash [Abstract]
Cash and cash equivalents	$ 536	$ 804	$ 1,680
Restricted cash included in other current assets	13	8	8
Restricted cash included in other non-current assets	33	38	30
Cash, cash equivalents, and restricted cash	$ 582	$ 850	$ 1,718	$ 942

Summary of Significant Accounting Policies (Estimated Useful Lives) (Details)	12 Months Ended
	Jan. 28, 2023
Buildings
Property, Plant and Equipment [Line Items]
Estimated useful lives of the assets	50 years
Furniture, Fixtures and Equipment \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of the assets	10 years
Furniture, Fixtures and Equipment \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of the assets	3 years
Software
Property, Plant and Equipment [Line Items]
Estimated useful lives of the assets	5 years
Software \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of the assets	2 years

Acquisition (Narrative) (Details) $ in Millions		12 Months Ended		24 Months Ended
Acquisition (Narrative) (Details) $ in Millions	Nov. 01, 2021 USD ($)	Jan. 28, 2023 USD ($)	Jan. 29, 2022 USD ($) store	Jan. 28, 2023 USD ($)	Sep. 18, 2021 USD ($)
Business Combination Segment Allocation [Line Items]
Purchase of business, net of cash acquired		$ 14	$ 1,056
Contingent consideration		4	35	$ 4
Goodwill		785	797	785
atmos [Member]
Business Combination Segment Allocation [Line Items]
Payments to Acquire Businesses, Gross	$ 337			372
Purchase of business, net of cash acquired		12	319
Contingent consideration	35	4	$ 35	4
Goodwill	249
Increase in goodwill		7
Goodwill deductible for tax purposes		30		30
Business Combination, Indemnification Assets, Range of Outcomes, Value, High	$ 20
atmos [Member] \| Maximum [Member]
Business Combination Segment Allocation [Line Items]
Contingent consideration		111		111
WSS [Member]
Business Combination Segment Allocation [Line Items]
Percentage of business acquired			100.00%
Payments to Acquire Businesses, Gross				$ 809
Purchase of business, net of cash acquired		$ 2	$ 737
Number of Stores \| store			93
Goodwill					$ 407

Acquisition (Schedule of Assets/Liabilities Acquired) (Details) - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022	Nov. 01, 2021	Sep. 18, 2021
Business Combination Segment Allocation [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets		$ 135
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other		(1)
Goodwill	$ 785	$ 797
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			20
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		130
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	9		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 Lease Obligations			(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			(40)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other			(8)
Goodwill			249
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net, Total			$ 372
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			296
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 13			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				(59)
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				(87)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other				(4)
Goodwill				407
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net, Total				$ 809

Revenue (Schedule of Sales Disaggregated by Sales Channel) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Total Revenue	$ 8,759	$ 8,968	$ 7,554
Sales
Total Revenue	8,747	8,958	7,548
Licensing Revenue
Total Revenue	12	10	6
Store Sales Channel [Member] \| Sales
Total Revenue	7,219	7,029	5,447
Direct to Customers Sales Channel [Member] \| Sales
Total Revenue	$ 1,528	$ 1,929	$ 2,101

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Revenue (Schedule of Sales Disaggregated by Geographic Area) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Total Revenue	$ 8,759	$ 8,968	$ 7,554
United States
Total Revenue	5,981	6,477	5,581
North America [Member]
Total Revenue	6,423	6,895	5,938
International [Member]
Total Revenue	$ 2,778	$ 2,491	$ 1,973

- Definition

+ References

+ Details

Revenue (Revenue by Segment) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Total Revenue	$ 8,759	$ 8,968	$ 7,554
Sales
Total Revenue	8,747	8,958	7,548
North America [Member]
Total Revenue	6,423	6,895	5,938
North America [Member] \| Foot Locker [Member]
Total Revenue	3,304	3,295	2,835
North America [Member] \| Champ Sports [Member]
Total Revenue	1,681	1,939	1,610
North America [Member] \| Kids Foot Locker [Member]
Total Revenue	708	724	590
North America [Member] \| WSS [Member]
Total Revenue	604	195
North America [Member] \| Other [Member]
Total Revenue	126	742	903
EMEA [Member]
Total Revenue	1,722	1,641	1,343
EMEA [Member] \| Foot Locker [Member]
Total Revenue	1,628	1,565	1,250
EMEA [Member] \| Sidestep [Member]
Total Revenue	94	76	46
EMEA [Member] \| Other [Member]
Total Revenue			47
Asia Pacific [Member]
Total Revenue	602	422	267
Asia Pacific [Member] \| Foot Locker [Member]
Total Revenue	414	373	$ 267
Asia Pacific [Member] \| atmos [Member]
Total Revenue	$ 188	$ 49

Revenue (Activity of Gift Card Liability Balance) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022
Accrued gift card liability at beginning of period	$ 46	$ 41
Liabilities acquired - WSS		1
Accrued gift card liability at end of period	36	46
Gift Card Redemption Revenue [Member]
Revenue recognized	(259)	(249)
Gift Card Breakage Revenue [Member]
Revenue recognized	(17)	(17)
Gift Card Activations [Member]
Activations	$ 266	271
Gift Card Foreign Currency Fluctuations [Member]
Foreign currency fluctuations		$ (1)

Segment Information (Narrative) (Details)	12 Months Ended
Segment Information (Narrative) (Details)	Jan. 28, 2023 segment
Segment Information [Abstract]
Operating segments	3
Number of reportable segments	1

Segment Information (Sales and Division Operating Results for Reportable Segments) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Segment Reporting Information [Line Items]
Total Revenue	$ 8,759	$ 8,968	$ 7,554
Division profit	844	1,171	497
Less: Impairment and other charges	112	172	117
Less: Corporate expense	151	129	71
Income from operations	581	870	309
Interest expense, net	(15)	(14)	(7)
Other (expense) / income, net	(42)	384	192
Income from continuing operations before income taxes	$ 524	1,240	494
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Corporate Expense Due to Allocation Changes		$ 19	$ 28

Segment Information (Sales and Long-Lived Asset Information by Geographic Area) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Segment Reporting Information [Line Items]
Total Revenue	$ 8,759	$ 8,968	$ 7,554
Long-lived assets	3,363	3,533	3,504
United States
Segment Reporting Information [Line Items]
Total Revenue	5,981	6,477	5,581
Long-lived assets	2,152	2,285	2,218
International [Member]
Segment Reporting Information [Line Items]
Total Revenue	2,778	2,491	1,973
Long-lived assets	$ 1,211	$ 1,248	$ 1,286

- Definition

+ References

+ Details

Segment Information (Schedule of Segment Information) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Segment Reporting Information [Line Items]
Depreciation and Amortization	$ 208	$ 197	$ 176
Capital Expenditures	285	209	159
Total Assets	7,907	8,135	7,043
Operating Segments [Member]
Segment Reporting Information [Line Items]
Depreciation and Amortization	169	163	152
Capital Expenditures	200	127	88
Total Assets	7,178	7,184	5,159
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Depreciation and Amortization	39	34	24
Capital Expenditures	85	82	71
Total Assets	$ 729	$ 951	$ 1,884

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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-URI http://asc.fasb.org/extlink&oid=123419778&loc=d3e5710-111685

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
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-Paragraph 25
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=116870748&loc=SL6758485-165988

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 32
-Subparagraph (d)
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 3
-Subparagraph (c)
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

+ Details

Impairment and Other Charges (Schedule of Impairment and Other Charges) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended	12 Months Ended			48 Months Ended
	Jan. 28, 2023	Jul. 30, 2022	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021	Jan. 28, 2023
Transformation consulting			$ 42	$ 4		$ 53
Impairment of long-lived assets and right-of-use assets	$ 53	$ 5	58	92	$ 77
Acquisition and integration costs			4	24
Lease termination costs				15
Other			8	2
Impairment of investments				42	4
Reorganization costs			22	4	7
Social unrest net of insurance recovery				(7)	8
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability			(31)
Litigation related charges	$ 9		9		2
Total impairment and other charges			$ 112	$ 172	117
Runners Point Group [Member]
Runners Point shut down					$ 19

Impairment and Other Charges (Narrative) (Details) $ in Millions	3 Months Ended	6 Months Ended	12 Months Ended			48 Months Ended
	Jan. 28, 2023 USD ($) store	Jul. 30, 2022 USD ($)	Jan. 28, 2023 USD ($)	Jan. 29, 2022 USD ($)	Jan. 30, 2021 USD ($)	Jan. 28, 2023 USD ($)
Impairment and Other Charges [Line Items]
Litigation charge	$ (9)		$ (9)		$ (2)
Impairment of assets	$ 53	$ 5	58	$ 92	77
Lease termination costs				(15)
Transformation consulting			42	4		$ 53
Impairment of investments				42	4
Number of underperforming stores evaluated for impairment \| store	142
Number of stores with non-cash impairment charge \| store	110
Acquisition and integration costs	$ 4		4	24		$ 4
Reorganization costs			22	4	$ 7
Fair value change in contingent consideration			(31)
Other intangible assets impairments			8	$ 2
Sidestep [Member]
Impairment and Other Charges [Line Items]
Impairment of assets	$ 17
Number of underperforming stores evaluated for impairment \| store	70
Reorganization costs			4
Other intangible assets impairments			$ 8
atmos [Member]
Impairment and Other Charges [Line Items]
Fair value change in contingent consideration	$ 31

Other Income (Expense), net (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Other Income Non operating [Line Items]
Gain on disposal of business	$ 19
Proceeds from sale of business	47
Payments to Acquire Other Investments		$ 68
Gain (loss) from equity method investment	1	3	$ (1)
Insurance Recoveries	7
Net benefit expense (income)		7	5
GOAT [Member]
Other Income Non operating [Line Items]
Gain on investment		290	$ 190
Retailors, Ltd [Member]
Other Income Non operating [Line Items]
Unrealized Gain on Securities		9
Marketable Securities, Unrealized Gain (Loss)		68
Gain on investment	(61)	$ 77
Gain (loss) from equity method investment	1
Buildings \| Retailors, Ltd [Member]
Other Income Non operating [Line Items]
Gain on investment	$ 62

Other Income / (Expense), net (Schedule of Total Other Income / (Expense), Net) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Schedule of Equity Method Investments [Line Items]
Share of earnings (losses) related to other minority investments	$ 1	$ 3	$ (1)
Team Sales divestiture	19
Pension and postretirement net benefit income, excluding service cost		7	5
Other	(1)	7	(2)
Total other income / (expense), net	(42)	384	192
Retailors, Ltd [Member]
Schedule of Equity Method Investments [Line Items]
Minority investment	(61)	77
Share of earnings (losses) related to other minority investments	$ 1
GOAT [Member]
Schedule of Equity Method Investments [Line Items]
Minority investment		$ 290	$ 190

Merchandise Inventories (Schedule of Merchandise Inventories) (Details) - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022
Merchandise Inventories [Abstract]
LIFO inventories	$ 1,093	$ 788
FIFO inventories	550	478
Inventory, Net, Total	$ 1,643	$ 1,266

Other Current Assets (Schedule of Other Current Assets) (Details) - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Other Current Assets [Abstract]
Net receivables	$ 160	$ 134
Prepaid rent	19	19
Prepaid income taxes	62	56
Other prepaid expenses	71	64
Restricted cash	13	8	$ 8
Other	17	12
Other current assets	$ 342	$ 293

Property and Equipment, Net (Schedule of Property and Equipment) (Details) - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,436	$ 1,385
Less: accumulated depreciation	(948)	(902)
Property plant and equipment excluding leasehold and building improvements	488	483
Property and equipment, net	920	917
Finance leases, assets under finance leases	65	65
Less: accumulated amortization	(12)	(6)
Finance leases, net	53	59
Assets under finance leases, net	53	59
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	4	4
Buildings
Property, Plant and Equipment [Line Items]
Property and equipment, gross	53	52
Furniture, Fixtures, Equipment and Software Development Costs
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,379	1,329
Leasehold and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	967	954
Less: accumulated depreciation	(588)	(579)
Property and equipment, net	$ 379	$ 375

Other Intangible Assets, Net (Schedule of Other Intangible Asset) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022
Intangible Assets by Major Class [Line Items]
Amortized intangible assets, Gross value	$ 140	$ 138
Amortized intangible assets, Accum. amort.	(127)	(124)
Amortized intangible assets, Net value	$ 13	14
Amortized intangible assets, Wtd. Avg. Life in Years	5 years
Other intangible assets, net	$ 426	454
Lease Acquisition Costs [Member]
Intangible Assets by Major Class [Line Items]
Amortized intangible assets, Gross value	102	107
Amortized intangible assets, Accum. amort.	(100)	(104)
Amortized intangible assets, Net value	$ 2	3
Amortized intangible assets, Wtd. Avg. Life in Years	9 years 4 months 24 days
Trademarks and Trade Names [Member]
Intangible Assets by Major Class [Line Items]
Amortized intangible assets, Gross value	$ 18	18
Amortized intangible assets, Accum. amort.	(18)	(18)
Indefinite life intangible assets, Net Value	413	440
Customer Lists [Member]
Intangible Assets by Major Class [Line Items]
Amortized intangible assets, Gross value	20	13
Amortized intangible assets, Accum. amort.	(9)	(2)
Amortized intangible assets, Net value	$ 11	$ 11
Amortized intangible assets, Wtd. Avg. Life in Years	3 years
WSS [Member]
Intangible Assets by Major Class [Line Items]
Finite-Lived Intangible Assets, Remaining Amortization Period	3 years

Other Intangible Assets, Net (Amortization Expense) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Goodwill and Other Intangible Assets, Net [Abstract]
Amortization expense	$ 8	$ 5	$ 3

Other Intangible Assets, Net (Estimated Future Amortization Expense for Finite Lived Intangibles) (Details) $ in Millions	Jan. 28, 2023 USD ($)
Goodwill and Other Intangible Assets, Net [Abstract]
2023	$ 7
2024	5
2025	$ 1

Other Assets (Schedule of Other Assets) (Details) - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Other Assets [Abstract]
Restricted cash	$ 13	$ 8	$ 8
Restricted cash	33	38	$ 30
Security Deposit	29	33
Pension asset	4	21
Auction rate security	6	7
Other	20	22
Other Assets, Noncurrent, Total	$ 92	$ 121

- Definition

Amount of asset, recognized in statement of financial position, for overfunded defined benefit pension and other postretirement plans.

+ References + Details

Accrued and Other Liabilities (Schedule of Accrued and Other Liabilities) (Details) - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022
Accrued and Other Liabilities [Abstract]
Taxes other than income taxes	$ 69	$ 75
Income taxes payable	39	11
Other payroll and payroll related costs, excluding taxes	99	78
Incentive bonuses	72	82
Customer deposits	39	50
Rent related costs	35	57
Property and equipment	39	58
Advertising	30	34
Other	146	116
Other Liabilities, Current, Total	$ 568	$ 561

Revolving Credit Facility (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Jan. 29, 2022	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021	Jul. 14, 2020
Line of Credit Facility [Line Items]
Deferred financing fees, unamortized balance		$ 3
Interest expense, net		$ 3	$ 3	$ 5
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Revolving credit facility					$ 600
Revolving credit facility maturity date		Jul. 14, 2025
Commitment fee percentage	0.25%
Federal Funds Rate [Member] \| Revolving Credit Facility [Member] \| Maximum [Member]
Line of Credit Facility [Line Items]
Debt, basis spread on variable rate	0.75%
Federal Funds Rate [Member] \| Revolving Credit Facility [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
Debt, basis spread on variable rate	0.25%
London Interbank Offered Rate (LIBOR) [Member] \| Revolving Credit Facility [Member] \| Maximum [Member]
Line of Credit Facility [Line Items]
Debt, basis spread on variable rate	1.75%
London Interbank Offered Rate (LIBOR) [Member] \| Revolving Credit Facility [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
Debt, basis spread on variable rate	1.25%

Long-Term Debt and Obligations Under Finance Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Debt Instrument [Line Items]
Debt	$ 395	$ 394
Obligations under finance leases	57	63
Debt and lease obligations	452	457
Current portion of debt and obligations under finance leases	6	6
Long-term debt and obligations under finance leases	446	451
Proceeds from Issuance of Unsecured Debt		395
Interest expense related to long-term debt	17	12	$ 8
Finance Lease, Liability, Current	$ 6	$ 6
Senior Notes Due 2029 [Member]
Debt Instrument [Line Items]
Interest rate of notes (as a percent)	4.00%	4.00%

Other Liabilities (Schedule of Other Liabilities) (Details) - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022
Other Liabilities [Abstract]
Pension benefits	$ 21	$ 16
Contingent consideration	4	35
Income taxes	31	28
Deferred taxes	237	224
Other	35	40
Other Liabilities, Noncurrent, Total	$ 328	$ 343

Leases (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
Leases (Narrative) (Details) - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Schedule Of Operating Leases [Line Items]
Variable lease costs	$ 308	$ 331	$ 290
Sublease income	1	$ 1	$ 1
Operating leases not yet commenced, future undiscounted lease payments	$ 102
Minimum [Member]
Schedule Of Operating Leases [Line Items]
Operating lease period	5 years
Maximum [Member]
Schedule Of Operating Leases [Line Items]
Operating lease period	10 years

Leases (Operating Lease) (Details) - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022
Operating leases:
Operating lease right-of-use assets	$ 2,443	$ 2,616
Operating lease liabilities classified as current	544	572
Operating lease liabilities classified as long-term	2,230	2,363
Total operating lease liabilities	2,774	2,935
Finance leases:
Property and equipment, net	$ 53	$ 59
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property Plant And Equipment Net	Property Plant And Equipment Net
Current portion of obligations under finance leases	$ 6	$ 6
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Long-term Debt and Lease Obligation, Current	Long-term Debt and Lease Obligation, Current
Long-term obligations under finance leases	$ 51	$ 57
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-term Debt and Lease Obligation	Long-term Debt and Lease Obligation
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Long-term Debt and Lease Obligation, Long-term Debt and Lease Obligation, Current	Long-term Debt and Lease Obligation, Long-term Debt and Lease Obligation, Current
Total finance lease obligations	$ 57	$ 63

Leases (Other and Supplement Cash Flow) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Leases [Abstract]
Operating lease weighted average remaining lease term (years)	6 years 6 months	6 years 8 months 12 days
Finance lease, weighted average remaining lease term	14 years 8 months 12 days	15 years
Operating lease, weighted average discount rate	5.00%	4.70%
Finance lease, weighted average discount rate, percent	4.30%	4.20%
Cash paid for amounts included in measurement of operating lease liabilities:	$ 704	$ 790	$ 626
Right-of-use assets obtained in exchange for lease obligations:	458	417	331
Cash paid for amounts included in measurement of finance lease liabilities	$ 9	5	1
Leases obtained in exchange for finance lease obligations		$ 4	$ 11

Leases (Lease Cost) (Details) - USD ($) $ in Millions	12 Months Ended
Leases (Lease Cost) (Details) - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Components of lease cost
Operating lease costs	$ 657	$ 653	$ 620
Variable lease costs	308	331	290
Short-term lease costs	19	23	23
Sublease Income	(1)	(1)	(1)
Lessee, Total Operating Lease Cost	983	1,006	932
Lessee, Finance Lease, Description [Abstract]
Finance Lease, Right-of-Use Asset, Amortization	6	4	1
Interest on lease liabilities	3	1
Total finance lease costs	9	5	1
Net lease cost	$ 992	$ 1,011	$ 933

Leases (Future Minimum Lease Payments Under Non-Cancelable Operating Leases Net of Future Non-Cancelable Operating Sublease Payments) (Details) - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022
Maturities of lease liabilities
2022	$ 651
2023	576
2024	481
2025	387
2026	304
Thereafter	877
Total lease payments	3,276
Less: Interest	502
Total operating lease liabilities	2,774	$ 2,935
Finance Lease, Liability, Payment, Due [Abstract]
2022	8
2023	8
2024	6
2025	4
2026	4
Thereafter	48
Total lease payments	78
Less: Interest	21
Total finance lease obligations	57	$ 63
Operating And Finance Lease Liabilities Payments Due [Abstract]
2022	659
2023	584
2024	487
2025	391
2026	308
Thereafter	925
Total lease payments	3,354
Less: Interest	523
Total lease liabilities	$ 2,831

Accumulated Other Comprehensive Loss (Schedule of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Accumulated Other Comprehensive Loss [Abstract]
Foreign currency translation adjustments	$ (148)	$ (107)	$ (64)
Cash flow hedges	(3)		(1)
Unrecognized pension cost and postretirement benefit	(241)	(236)	(266)
Accumulated other comprehensive loss ("AOCL"), net of tax	$ (392)	$ (343)	$ (331)

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

Accumulated Other Comprehensive Loss (Changes in Accumulated Other Comprehensive Loss) (Details) $ in Millions	12 Months Ended
	Jan. 28, 2023 USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ (343)
OCI before reclassification	(42)
Amortization of pension actuarial loss, net of tax	(7)
Pension remeasurement, net of tax	(14)
Other comprehensive income	(49)
Ending Balance	(392)
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(107)
OCI before reclassification	(41)
Other comprehensive income	(41)
Ending Balance	(148)
Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
OCI before reclassification	(3)
Other comprehensive income	(3)
Ending Balance	(3)
Items Related to Pension and Postretirement Benefits [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(236)
OCI before reclassification	2
Amortization of pension actuarial loss, net of tax	(7)
Pension remeasurement, net of tax	(14)
Other comprehensive income	(5)
Ending Balance	$ (241)

- Definition

+ References + Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669619-108580

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

+ Details

Accumulated Other Comprehensive Loss (Reclassifications from Accumulated Other Comprehensive Loss) (Details) $ in Millions	12 Months Ended
	Jan. 28, 2023 USD ($)
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Income tax benefit	$ (3)
Amortization of pension actuarial loss, net of tax	(7)
Pension Benefits [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Pension benefits	$ 10

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Income Taxes [Line Items]
Effective Income Tax Rate Continuing Operations	34.30%	28.10%	34.50%
Federal statutory income tax rate	21.00%	21.00%	21.00%
Undistributed foreign earnings	$ 571
Valuation allowance	93	$ 80
Valuation allowance excess of tax rate	15
Capital loss	1
Gross unrecognized tax benefits	52	$ 41	$ 47	$ 45
Net unrecognized tax benefits that would impact effective tax rate	44
Interest and penalties	6
Impairment Northern Group Note 2008 [Member]
Income Taxes [Line Items]
Valuation allowance	1
International [Member]
Income Taxes [Line Items]
International minimum tax credit carryforwards	3
Operating loss carryforwards Foreign	$ 100
International [Member] \| Minimum [Member]
Income Taxes [Line Items]
Operating loss carryforwards state, expiration date	2023
Foreign Tax Authority [Member]
Income Taxes [Line Items]
Valuation allowance	$ 77
Operating loss carryforwards subject to expiration	$ 19

Income Taxes (Domestic and International Components of Pre-Tax Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Income Taxes [Abstract]
Domestic	$ 440	$ 1,244	$ 647
International	84	(4)	(153)
Total pre-tax income	$ 524	$ 1,240	$ 494

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
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-Subparagraph (b)
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

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-Name Accounting Standards Codification
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-Paragraph 1
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-Section S99
-Paragraph 1
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+ Details

Income Taxes (Income Tax Provision) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Current:
Federal	$ 64	$ 192	$ 114
State and local	27	66	43
International	68	16	23
Total current tax provision	159	274	180
Deferred:
Federal	23	49	6
State and local	4	15	(2)
International	(6)	10	(13)
Total deferred tax (benefit) provision	21	74	(9)
Total income tax provision	$ 180	$ 348	$ 171

Income Taxes (Reconciliation of Significant Differences Between Federal Statutory Income Tax Rate and Effective Income Tax Rate on Pre-Tax Income) (Details)	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Income Taxes [Abstract]
Federal statutory income tax rate	21.00%	21.00%	21.00%
Increase in valuation allowance	2.60%	0.70%	6.30%
State and local income taxes, net of federal tax benefit	5.00%	5.40%	6.60%
International income taxed at varying rates	8.40%	2.40%	4.30%
Foreign tax credits	(3.60%)	(1.40%)	(2.40%)
Domestic/foreign tax settlements	(0.50%)	(0.30%)	(0.50%)
Federal tax credits	(0.40%)	(0.10%)	(0.40%)
Other, net	1.80%	0.40%	(0.40%)
Effective income tax rate	34.30%	28.10%	34.50%

Income Taxes (Significant Portions of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022
Deferred tax assets:
Tax loss/credit carryforwards and capital loss	$ 123	$ 133
Employee benefits	42	38
Property and equipment		15
Operating leases - liabilities	725	720
Other	61	74
Total deferred tax assets	951	980
Valuation allowance	(93)	(80)
Total deferred tax assets, net	858	900
Deferred tax liabilities:
Merchandise inventories	87	68
Operating leases - assets	667	662
Goodwill and other intangible assets	123	155
Net investment gains	115	131
Property and equipment	6
Other	7	22
Total deferred tax liabilities	1,005	1,038
Net deferred tax liability	(147)	(138)
Balance Sheet caption reported in:
Deferred taxes	90	86
Other liabilities	$ (237)	$ (224)

Income Taxes (Unrecognized Tax Benefits Activity) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Income Taxes [Abstract]
Unrecognized tax benefits at beginning of year	$ 41	$ 47	$ 45
Foreign currency translation adjustments	(1)	(2)	3
Increases related to current year tax positions	9	3	2
Increases related to prior period tax positions	7	2	3
Decreases related to prior period tax positions		(3)
Settlements		(1)	(1)
Lapse of statute of limitations	(4)	(5)	(5)
Unrecognized tax benefits at end of year	$ 52	$ 41	$ 47

Financial Instruments and Risk Management (Narrative) (Details) $ in Millions, ¥ in Billions	12 Months Ended
	Jan. 28, 2023 USD ($) country	Jan. 29, 2022 USD ($)	Jan. 30, 2021 USD ($)	May 06, 2021 USD ($)	May 06, 2021 JPY (¥)	May 05, 2021
Derivative [Line Items]
Notional value of contracts outstanding				$ 85	¥ 11
Derivative, fixed rate				6.77%	6.77%	3.51%
Derivative, fair value	$ 3
Change in fair value of derivatives, net of income tax benefit of $-, $-, and $-, respectively	(3)	$ 1	$ 2
Hedge Derivative, AOCL	(3)		$ (1)
Derivative, AOCL	3
Derivative income	$ 2
Number of countries of operation \| country	29
Top Five Suppliers [Member] \| Cost of Goods and Service Benchmark [Member] \| Supplier Concentration Risk [Member]
Derivative [Line Items]
Concentration risk, percentage	86.00%
Nike \| Cost of Goods and Service Benchmark [Member] \| Supplier Concentration Risk [Member]
Derivative [Line Items]
Concentration risk, percentage	65.00%
Nike \| Minimum [Member] \| Cost of Goods and Service Benchmark [Member] \| Supplier Concentration Risk [Member]
Derivative [Line Items]
Concentration risk, percentage	50.00%
Nike \| Maximum [Member] \| Cost of Goods and Service Benchmark [Member] \| Supplier Concentration Risk [Member]
Derivative [Line Items]
Concentration risk, percentage	75.00%
European
Derivative [Line Items]
Number of countries of operation \| country	20
Net assets	$ 454
Number of countries that uses the Euro as the functional currency \| country	11

Financial Instruments and Risk Management (Fair Value Derivative Contracts on Gross Basis by Type of Contract) (Details) - Forward Foreign Exchange Contracts [Member] - Derivatives Designated as Hedging Instruments [Member] - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022
Derivative [Line Items]
Fair value of derivative hedging liability		$ 1
Current Liabilities [Member]
Derivative [Line Items]
Fair value of derivative hedging liability	$ 3

Fair Value Measurements (Carrying Value and Estimated Fair Value of Long-Term Debt) (Details) - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022
Debt Instrument [Line Items]
Debt discount	$ 5	$ 5
Long-term debt, Fair value	338	389
Long-term debt, Carrying value	$ 395	$ 394
Senior Notes Due 2029 [Member]
Debt Instrument [Line Items]
Interest rate of notes (as a percent)	4.00%	4.00%

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended		48 Months Ended
	Jul. 31, 2021	Jan. 28, 2023	Jan. 29, 2022	Jan. 28, 2023
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	579	579
Transformation consulting		$ 42	$ 4	$ 53
Increase (decrease) in minority interests	$ 68
Senior Notes Due 2029 [Member]
Interest rate		4.00%	4.00%	4.00%

Retirement Plans and Other Benefits (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Plan participants years of service threshold	11 years			11 years
Accumulated projected benefit obligation	$ 533	$ 20
Investment in Equity Securities [Member] \| Canadian Qualified Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Target composition of plan assets	5.00%
Fixed Income Securities \| Canadian Qualified Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Target composition of plan assets	95.00%
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension benefits paid	$ 48	$ 55
Discount rate, net periodic benefit costs	3.20%	2.50%	2.90%
Pension Benefits [Member] \| Nonqualified Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension benefits paid	$ 3	$ 3
Pension Benefits [Member] \| United States
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plans fixed interest rate	6.00%
Pension Benefits [Member] \| United States \| Qualified Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Market-related value of plan assets	$ 618	$ 652
Pension Benefits [Member] \| Investment in Equity Securities [Member] \| United States \| Qualified Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Target composition of plan assets	28.50%
Pension Benefits [Member] \| Fixed Income Securities \| United States \| Qualified Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Target composition of plan assets	70.00%
Pension Benefits [Member] \| Real Estate Investment Trust \| United States \| Qualified Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Target composition of plan assets	1.50%
Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Market-related value of plan assets, Period for calculation	3 years
Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Market-related value of plan assets, Period for calculation	5 years

Retirement Plans and Other Benefits (Changes in Benefit Obligations and Plan Assets, Funded Status, and Amounts Recognized in Consolidated Balance Sheets) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Change in benefit obligation
Benefit obligation at beginning of year	$ 20
Benefit obligation at end of year	533	$ 20
Change in plan assets
Fair value of plan assets at end of year	509
Amounts recognized on the balance sheet:
Other assets	4	21
Pension Benefits [Member]
Change in benefit obligation
Benefit obligation at beginning of year	674	753
Service cost	14	16	$ 14
Interest cost	21	18	21
Actuarial (gain) loss	(93)	(55)
Foreign currency translation adjustments	(2)	(1)
Benefits paid	(48)	(55)
Settlement		(2)
Benefit obligation at end of year	566	674	753
Change in plan assets
Fair value of plan assets at beginning of year	676	716
Actual (loss) return on plan assets	(83)	11
Employer contributions	3	3
Foreign currency translation adjustments	(2)	1
Benefits paid	(48)	(55)
Fair value of plan assets at end of year	546	676	$ 716
Funded status	(20)	2
Amounts recognized on the balance sheet:
Other assets	4	21
Accrued and other liabilities	(3)	(3)
Other liabilities	(21)	(16)
Amounts recognized on the Balance Sheet	(20)	2
Amounts recognized in accumulated other comprehensive loss, pre-tax:
Net loss (gain)	$ 329	$ 320

Retirement Plans and Other Benefits (Information for Pension Plans with Accumulated Benefit Obligation in Excess of Plan Assets) (Details) - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022
Retirement Plans and Other Benefits [Abstract]
Projected benefit obligation	$ 533	$ 20
Accumulated benefit obligation	533	$ 20
Fair value of plan assets	$ 509

- Definition

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

+ References + Details

Retirement Plans and Other Benefits (Changes in Accumulated Other Comprehensive Loss) (Details) - Pension Benefits [Member] $ in Millions	12 Months Ended
	Jan. 28, 2023 USD ($)
Schedule of Pension and Other Postretirement Benefits Recognized in Accumulated Other Comprehensive Income (Loss) [Line Items]
Net actuarial loss (gain) at beginning of year	$ 320
Amortization of net (loss) gain	(10)
Loss (gain) arising during the year	21
Foreign currency fluctuations	(2)
Net actuarial loss (gain) at end of year	$ 329

Retirement Plans and Other Benefits (Weighted-Average Assumptions used to Determine Benefit Obligations and Net Benefit Cost) (Details) - Pension Benefits [Member]	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Schedule of Benefit Obligations Weighted Average Assumptions [Line Items]
Discount rate, net periodic benefit costs	3.20%	2.50%	2.90%
Rate of compensation increase, net periodic benefit costs	3.60%	3.60%	3.60%
Expected long-term rate of return on assets, net periodic benefit costs	4.80%	5.30%	5.50%
Discount rate, benefit obligation	5.00%	3.20%
Rate of compensation increase, benefit obligation	3.60%	3.60%

Retirement Plans and Other Benefits (Net Benefit Expense (Income)) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Defined Benefit Plan Disclosure [Line Items]
Net benefit expense (income)		$ 7	$ 5
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 14	16	14
Interest cost	21	18	21
Expected return on plan assets	(31)	(35)	(37)
Amortization of net loss	10	10	12
Net benefit expense (income)	$ 14	$ 9	$ 10

Retirement Plans and Other Benefits (Fair Values of Plan Assets) (Details) - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items]
Fair value of plan assets	$ 509
Pension Benefits [Member]
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items]
Fair value of plan assets	546	$ 676	$ 716
Canadian Qualified Pension Plan [Member]
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items]
Fair value of plan assets	37	45
Canadian Qualified Pension Plan [Member] \| Defined Benefit Plan, Cash and Cash Equivalents, Canada [Member]
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items]
Fair value of plan assets	6	6
Canadian Qualified Pension Plan [Member] \| Defined Benefit Plan, Equity Securities, US [Member]
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items]
Fair value of plan assets	3	3
Canadian Qualified Pension Plan [Member] \| Fixed-income securities
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items]
Fair value of plan assets	28	36
Canadian Qualified Pension Plan [Member] \| Level 1 [Member]
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items]
Fair value of plan assets	3
Canadian Qualified Pension Plan [Member] \| Level 1 [Member] \| Defined Benefit Plan, Equity Securities, US [Member]
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items]
Fair value of plan assets	3
Canadian Qualified Pension Plan [Member] \| Level 2 [Member]
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items]
Fair value of plan assets	34
Canadian Qualified Pension Plan [Member] \| Level 2 [Member] \| Defined Benefit Plan, Cash and Cash Equivalents, Canada [Member]
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items]
Fair value of plan assets	6
Canadian Qualified Pension Plan [Member] \| Level 2 [Member] \| Fixed-income securities
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items]
Fair value of plan assets	28
United States
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items]
Fair value of plan assets	509	631
United States \| Defined Benefit Plan, Cash [Member]
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items]
Fair value of plan assets	2
United States \| Cash and Cash Equivalents
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items]
Fair value of plan assets	1	4
United States \| Mutual Fund [Member]
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items]
Fair value of plan assets	10	12
United States \| Defined Benefit Plan, Equity Securities, US, Large Cap [Member]
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items]
Fair value of plan assets	130	163
United States \| Defined Benefit Plan, Equity Securities, Corporate Stock [Member]
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items]
Fair value of plan assets	17	18
United States \| Fixed Income Securities, Long Term Corporate And Government Bonds [Member]
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items]
Fair value of plan assets	341	425
United States \| Defined Benefit Plan, Real Estate [Member]
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items]
Fair value of plan assets	8	$ 9
United States \| Level 1 [Member]
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items]
Fair value of plan assets	29
United States \| Level 1 [Member] \| Defined Benefit Plan, Cash [Member]
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items]
Fair value of plan assets	2
United States \| Level 1 [Member] \| Mutual Fund [Member]
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items]
Fair value of plan assets	10
United States \| Level 1 [Member] \| Defined Benefit Plan, Equity Securities, Corporate Stock [Member]
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items]
Fair value of plan assets	17
United States \| Level 2 [Member]
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items]
Fair value of plan assets	480
United States \| Level 2 [Member] \| Cash and Cash Equivalents
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items]
Fair value of plan assets	1
United States \| Level 2 [Member] \| Defined Benefit Plan, Equity Securities, US, Large Cap [Member]
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items]
Fair value of plan assets	130
United States \| Level 2 [Member] \| Fixed Income Securities, Long Term Corporate And Government Bonds [Member]
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items]
Fair value of plan assets	341
United States \| Level 2 [Member] \| Defined Benefit Plan, Real Estate [Member]
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items]
Fair value of plan assets	$ 8

Retirement Plans and Other Benefits (Estimated Future Benefit Payments) (Details) - Pension Benefits [Member] $ in Millions	Jan. 28, 2023 USD ($)
Schedule of Postemployment Expected Future Benefit Payments [Line Items]
2023	$ 68
2024	50
2025	47
2026	46
2027	44
2028-2032	$ 198

Share-Based Compensation (Narrative) (Details) - USD ($)	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021	May 21, 2014
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	3,651,807
Share-based compensation, maximum percentage of employee salary	10.00%
Share-based compensation, maximum value permitted to purchase, per year	$ 25,000
Percentage of common stock fair market value on plan	85.00%
Unrecognized compensation cost	$ 27,000,000
Tax benefit realized from options exercised		$ 2,000,000
Proceeds from exercise of stock options	$ 6,000,000	10,000,000	$ 4,000,000
Chief Executive Officer [Member]
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	545,660
Stock Option Plans [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards vesting period description	Options for employees become exercisable in substantially equal annual installments over a three-year period, beginning with the first anniversary of the date of grant of the option, unless a shorter or longer duration is established at the time of the option grant.
Unrecognized compensation cost	$ 3,000,000
Fair value of options vested	4,000,000
Proceeds from exercise of stock options	$ 6,000,000
Restricted Stock and Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average expected award life (in years)	1 year
Award vesting period	3 years
Fair value of awards	$ 6,000,000	$ 23,000,000	$ 6,000,000
Dividends	$ 0
Nonvested Stock Options [Member] \| Stock Option Plans [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to nonvested stock options, weighted-average period expected to be recognized	1 year 6 months
2007 Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized under plan				14,000,000
Share-based compensation, expiration period	10 years
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	1 year
Shares authorized under plan	3,000,000
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant	1,854,858
Total number of shares purchased		300,788
Shares purchased	119,518

Share-Based Compensation (Total Compensation Expense Included in SG&A and the Related Tax Benefits Recognized) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	$ 31	$ 29	$ 15
Tax benefit recognized	3	3	2
Stock Option Plans [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated share-based compensation expense	5	6	6
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated share-based compensation expense	$ 26	$ 23	$ 9

Share-Based Compensation (Assumptions Used to Compute Share-Based Compensation Expense) (Details) - $ / shares	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Stock Option Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average risk free rate of interest	1.80%	0.90%	0.50%
Expected volatility	35.00%	47.00%	37.00%
Weighted-average expected award life (in years)	3 years 10 months 24 days	5 years 6 months	4 years 10 months 24 days
Dividend yield	2.70%	1.50%	4.30%
Weighted-average fair value	$ 10.80	$ 20.22	$ 5.03
2013 ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average risk free rate of interest	1.00%	0.10%	1.80%
Expected volatility	40.00%	45.00%	48.00%
Weighted-average expected award life (in years)	1 year	1 year	1 year
Dividend yield	2.60%	4.00%	4.20%
Weighted-average fair value	$ 18.46	$ 9.61	$ 13.97

Share-Based Compensation (Options Granted Under Stock Option Plans) (Details)	12 Months Ended
	Jan. 28, 2023 $ / shares shares
Number of Shares
Options outstanding at beginning of year	3,211,000
Granted	590,000
Exercised	(207,000)
Expired or cancelled	(338,000)
Options outstanding at end of period	3,256,000
Options exercisable at end of period	2,535,000
Options available for future grant at end of period	3,651,807
Weighted-Average Exercise Price
Options outstanding at beginning of year \| $ / shares	$ 48.84
Granted \| $ / shares	31.71
Exercised \| $ / shares	28.15
Expired or cancelled \| $ / shares	41.22
Options outstanding at end of period \| $ / shares	47.85
Options exercisable at end of period \| $ / shares	$ 52.36
Options outstanding, weighted-average remaining contractual life	4 years 6 months
Options exercisable at end of period, Weighted-average remaining contractual life	3 years 3 months 18 days
2013 ESPP [Member]
Number of Shares
Options available for future grant at end of period	1,854,858

Share-Based Compensation (Total Intrinsic Value of Options Exercised) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Intrinsic value of stock options
Exercised	$ 1	$ 8	$ 3

Share-Based Compensation (Aggregate Intrinsic Value for Stock Options Outstanding and Exercisable) (Details) $ in Millions	Jan. 28, 2023 USD ($)
Share-Based Compensation [Abstract]
Outstanding	$ 20
Outstanding and exercisable	$ 11

Share-Based Compensation (Information about Stock Options Outstanding and Exercisable) (Details) - $ / shares shares in Thousands	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Number of Shares	3,256	3,211
Options outstanding, weighted-average remaining contractual life	4 years 6 months
Options Outstanding, Weighted-Average Exercise Price	$ 47.85	$ 48.84
Options Exercisable, Number of Shares	2,535
Options Exercisable, Weighted-Average Exercise Price	$ 52.36
$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	1,123
Options outstanding, weighted-average remaining contractual life	7 years
Options Outstanding, Weighted-Average Exercise Price	$ 25.91
Options Exercisable, Number of Shares	514
Options Exercisable, Weighted-Average Exercise Price	$ 23.09
$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	39.17
Range of Exercise Prices, Upper Limit	$ 48.98
Options Outstanding, Number of Shares	459
Options outstanding, weighted-average remaining contractual life	2 years 10 months 24 days
Options Outstanding, Weighted-Average Exercise Price	$ 44.84
Options Exercisable, Number of Shares	445
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	493
Options outstanding, weighted-average remaining contractual life	5 years 1 month 6 days
Options Outstanding, Weighted-Average Exercise Price	$ 56.75
Options Exercisable, Number of Shares	395
Options Exercisable, Weighted-Average Exercise Price	$ 57.46
$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	1,181
Options outstanding, weighted-average remaining contractual life	2 years 4 months 24 days
Options Outstanding, Weighted-Average Exercise Price	$ 66.14
Options Exercisable, Number of Shares	1,181
Options Exercisable, Weighted-Average Exercise Price	$ 66.14

Share-Based Compensation (Changes in Nonvested Options) (Details) - Restricted Stock and Units [Member] $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Jan. 28, 2023 USD ($) $ / shares shares
Number of Shares
Nonvested, Beginning Balance	1,391
Granted	1,242
Vested	(117)
Performance adjustment	15
Expired or cancelled	(539)
Nonvested, Ending Balance	1,992
Aggregate value \| $	$ 75
Wtg. Avg. remaining contractual life (in years)	1 year 3 months 18 days
Weighted-Average Grant Date Fair Value per Share
Nonvested, Beginning Balance \| $ / shares	$ 43.95
Granted \| $ / shares	31.42
Vested \| $ / shares	54.29
Cancelled \| $ / shares	35.56
Nonvested, Ending Balance \| $ / shares	$ 37.58

Fair Value Measurements (Assets and Liabilities Measured at Fair Value on Recurring Basis) (Details) - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022
Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets measured at fair value on recurring basis		$ 145
Liabilities measured at fair value on recurring basis
Level 1 [Member] \| Fair Value, Measurements, Recurring [Member] \| Investment in Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets measured at fair value on recurring basis		145
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 2 [Member] \| Fair Value, Measurements, Recurring [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
Liabilities measured at fair value on recurring basis	3	1
Level 2 [Member] \| Fair Value, Measurements, Recurring [Member] \| Investment in Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets measured at fair value on recurring basis
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	4	35
Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities measured at fair value on recurring basis	4	35
Level 3 [Member] \| Fair Value, Measurements, Recurring [Member] \| Investment in Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets measured at fair value on recurring basis
Forward Foreign Exchange Contracts [Member] \| Level 1 [Member] \| Fair Value, Measurements, Recurring [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
Forward Foreign Exchange Contracts [Member] \| Level 2 [Member] \| Fair Value, Measurements, Recurring [Member] \| Derivative Financial Instruments, Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities measured at fair value on recurring basis		1
Forward Foreign Exchange Contracts [Member] \| Level 3 [Member] \| Fair Value, Measurements, Recurring [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
Cross Currency Interest Rate Contract [Member] \| Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities measured at fair value on recurring basis	$ 3