Leases (Tables)
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12 Months Ended |
Feb. 01, 2020 |
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| Leases [Abstract] |
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| Leases |
Leases We conduct a major part of our operations from leased premises (building or land) that include retail stores, store distribution centers, warehouses, offices and other facilities. Almost all leases include renewal options where we can extend the lease term from one to 50 years or more. We also lease equipment under finance leases for terms of primarily three to five years, and we rent or sublease certain real estate to third parties. Our lease contracts do not contain any purchase options or residual value guarantees.
Leases | | | | | | | | ($ in millions) | | Classification | | 2019 | Assets | | | | | Operating lease assets | | Operating lease assets | | $ | 998 |
| Total lease assets | | | | $ | 998 |
| Liabilities | | | | | Current | | | | | Operating | | Current operating lease liabilities | | $ | 67 |
| Finance | | Current portion of finance leases and note payable | | 1 |
| Noncurrent | | | | | Operating | | Noncurrent operating lease liabilities | | 1,108 |
| Finance | | Long-term finance leases and note payable | | — |
| Total lease liabilities | | | | $ | 1,176 |
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Lease Cost | | | | | | | | ($ in millions) | | Classification | | 2019 | Operating lease cost | | Selling, general and administrative expense (SG&A) | | $ | 196 |
| Variable lease cost | | Selling, general and administrative expense (SG&A) | | 133 |
| Finance lease cost | | | | | Amortization of lease assets | | Depreciation and amortization | | — |
| Interest on lease liabilities | | Net interest expense | | — |
| Rental income | | Real estate and other, net | | 10 |
| Net lease cost | | | | $ | 319 |
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As of February 1, 2020, future lease payments were as follows: | | | | | | | | | | | | | ($ in millions) | Operating Leases | | Finance Leases | | Total | 2020 | $ | 189 |
| | $ | — |
| | $ | 189 |
| 2021 | 197 |
| | — |
| | 197 |
| 2022 | 184 |
| | — |
| | 184 |
| 2023 | 180 |
| | — |
| | 180 |
| 2024 | 167 |
| | — |
| | 167 |
| Thereafter | 1,750 |
| | — |
| | 1,750 |
| Total lease payments | 2,667 |
| | — |
| | 2,667 |
| Less: amounts representing interest | (1,492 | ) | | — |
| | (1,492 | ) | Present value of lease liabilities | $ | 1,175 |
| | $ | — |
| | $ | 1,175 |
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Lease term and discount rate are as follows: | | | | | 2019 | Weighted-average remaining lease term (years) | | Operating leases | 15 |
| Weighted-average discount rate | | Operating leases | 11 | % |
Other information: | | | | ($ in millions) | 2019 | Cash paid for amounts included in the measurement of these liabilities | | Operating cash flows from operating leases | 210 |
| Operating cash flows from finance leases | 1 |
| Financing cash flows from finance leases | 1 |
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As determined prior to the adoption of the new lease standard, the future minimum lease payments under operating leases in effect as of February 2, 2019 were as follows: | | | | | ($ in millions) | | 2019 | $ | 190 |
| 2020 | 178 |
| 2021 | 163 |
| 2022 | 148 |
| 2023 | 135 |
| Thereafter | 1,626 |
| Less: sublease income | (43 | ) | Total minimum lease payments | $ | 2,397 |
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| Lease Assets and Liabilities [Table Text Block] |
Leases | | | | | | | | ($ in millions) | | Classification | | 2019 | Assets | | | | | Operating lease assets | | Operating lease assets | | $ | 998 |
| Total lease assets | | | | $ | 998 |
| Liabilities | | | | | Current | | | | | Operating | | Current operating lease liabilities | | $ | 67 |
| Finance | | Current portion of finance leases and note payable | | 1 |
| Noncurrent | | | | | Operating | | Noncurrent operating lease liabilities | | 1,108 |
| Finance | | Long-term finance leases and note payable | | — |
| Total lease liabilities | | | | $ | 1,176 |
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| Schedule of Future Minimum Rental Payments for Operating Leases |
As determined prior to the adoption of the new lease standard, the future minimum lease payments under operating leases in effect as of February 2, 2019 were as follows: | | | | | ($ in millions) | | 2019 | $ | 190 |
| 2020 | 178 |
| 2021 | 163 |
| 2022 | 148 |
| 2023 | 135 |
| Thereafter | 1,626 |
| Less: sublease income | (43 | ) | Total minimum lease payments | $ | 2,397 |
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| Lease, Cost [Table Text Block] |
Lease Cost | | | | | | | | ($ in millions) | | Classification | | 2019 | Operating lease cost | | Selling, general and administrative expense (SG&A) | | $ | 196 |
| Variable lease cost | | Selling, general and administrative expense (SG&A) | | 133 |
| Finance lease cost | | | | | Amortization of lease assets | | Depreciation and amortization | | — |
| Interest on lease liabilities | | Net interest expense | | — |
| Rental income | | Real estate and other, net | | 10 |
| Net lease cost | | | | $ | 319 |
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| Lessee, Operating Lease, Liability, Maturity [Table Text Block] |
As of February 1, 2020, future lease payments were as follows: | | | | | | | | | | | | | ($ in millions) | Operating Leases | | Finance Leases | | Total | 2020 | $ | 189 |
| | $ | — |
| | $ | 189 |
| 2021 | 197 |
| | — |
| | 197 |
| 2022 | 184 |
| | — |
| | 184 |
| 2023 | 180 |
| | — |
| | 180 |
| 2024 | 167 |
| | — |
| | 167 |
| Thereafter | 1,750 |
| | — |
| | 1,750 |
| Total lease payments | 2,667 |
| | — |
| | 2,667 |
| Less: amounts representing interest | (1,492 | ) | | — |
| | (1,492 | ) | Present value of lease liabilities | $ | 1,175 |
| | $ | — |
| | $ | 1,175 |
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| Lessee weighted average Lease Term and Discount Rate [Table Text Block] |
Lease term and discount rate are as follows: | | | | | 2019 | Weighted-average remaining lease term (years) | | Operating leases | 15 |
| Weighted-average discount rate | | Operating leases | 11 | % |
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| Other Information [Table Text Block] |
Other information: | | | | ($ in millions) | 2019 | Cash paid for amounts included in the measurement of these liabilities | | Operating cash flows from operating leases | 210 |
| Operating cash flows from finance leases | 1 |
| Financing cash flows from finance leases | 1 |
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