GAP INC, 10-K filed on 3/19/2024
Annual Report
v3.24.1
Cover Page Document - USD ($)
$ in Billions
 12 Months Ended
Feb. 03, 2024
Mar. 13, 2024
Jul. 28, 2023
Cover Page [Abstract]      
Document Transition Report false    
Document Annual Report true    
Title of 12(b) Security Common Stock, $0.05 par value    
Entity Incorporation, State or Country Code DE    
Document Type 10-K    
Document Period End Date Feb. 03, 2024    
Entity File Number 1-7562    
Entity Filer Category Large Accelerated Filer    
Entity Registrant Name GAP, INC    
Entity Tax Identification Number 94-1697231    
Entity Address, Address Line One Two Folsom Street    
Entity Address, City or Town San Francisco    
Entity Address, State or Province CA    
Entity Address, Postal Zip Code 94105    
City Area Code 415    
Local Phone Number 427-0100    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Shell Company false    
Entity Public Float     $ 2
Entity Common Stock, Shares Outstanding   373,512,503  
Trading Symbol GPS    
Security Exchange Name NYSE    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
v3.24.1
Audit Information
 12 Months Ended
Feb. 03, 2024
Audit Information [Abstract]  
Auditor Firm ID 34
Auditor Location San Francisco, California
Auditor Name Deloitte & Touche LLP
v3.24.1
Document and Entity Information
$ in Billions
 12 Months Ended
Feb. 03, 2024
Document Information [Line Items]  
Document Type 10-K
Amendment Flag false
Entity Emerging Growth Company false
Entity Small Business false
Entity Shell Company false
Document Period End Date Feb. 03, 2024
Document Fiscal Year Focus 2023
Document Fiscal Period Focus FY
Trading Symbol GPS
Entity Registrant Name GAP, INC
Entity Central Index Key 0000039911
Current Fiscal Year End Date --02-03
v3.24.1
CONSOLIDATED BALANCE SHEETS - USD ($)
shares in Thousands, $ in Millions
Feb. 03, 2024
Jan. 28, 2023
Current assets:    
Cash and cash equivalents $ 1,873 $ 1,215
Merchandise inventory 1,995 2,389
Other current assets 527 1,013
Total current assets 4,395 4,617
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment 4,874 4,837
Property and equipment, net of accumulated depreciation 2,566 2,688
Operating lease assets 3,115 3,173
Other long-term assets 968 908
Total assets 11,044 11,386
Current liabilities:    
Accounts payable 1,349 1,320
Accrued expenses and other current liabilities 1,108 1,219
Current portion of operating lease liabilities 600 667
Income taxes payable 39 50
Total current liabilities 3,096 3,256
Long-term liabilities:    
Line of Credit Facility, Amount Outstanding 0 350
Long-term debt 1,488 1,486
Long-term operating lease liabilities 3,353 3,517
Other long-term liabilities 512 544
Total long-term liabilities 5,353 5,897
Stockholders' equity:    
Common stock $0.05 par value, Authorized 2,300 shares for all periods presented 19 18
Additional Paid in Capital 113 27
Retained earnings 2,420 2,140
Accumulated other comprehensive income 43 48
Total stockholders' equity 2,595 2,233
Total liabilities and stockholders' equity $ 11,044 $ 11,386
Common stock, par value (in dollars per share) $ 0.05 $ 0.05
Common stock, shares outstanding (in shares) 372,000 366,000
Common stock, shares issued (in shares) 372,000 366,000
Common stock, shares authorized (in shares) 2,300,000 2,300,000
v3.24.1
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
shares in Thousands
Feb. 03, 2024
Jan. 28, 2023
Common stock, par value (in dollars per share) $ 0.05 $ 0.05
Common stock, shares authorized (in shares) 2,300,000 2,300,000
Common stock, shares issued (in shares) 372,000 366,000
Common stock, shares outstanding (in shares) 372,000 366,000
v3.24.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Net sales $ 14,889 [1] $ 15,616 $ 16,670
Cost of goods sold and occupancy expenses 9,114 10,257 10,033
Gross profit 5,775 5,359 6,637
Operating expenses 5,215 5,428 5,827
Operating income (loss) 560 (69) 810
Loss on extinguishment of debt 0 0 325
Interest expense 90 88 167
Interest income (86) (18) (5)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 556 (139) 323
Income tax expense 54 63 67
Net income (loss) $ 502 $ (202) $ 256
Weighted-average number of shares—basic 370 367 376
Weighted-average number of shares—diluted 376 367 383
Earnings (loss) per share—basic $ 1.36 $ (0.55) $ 0.68
Earnings (loss) per share—diluted $ 1.34 $ (0.55) $ 0.67
[1] Fiscal 2023 includes incremental sales attributable to the 53rd week.
v3.24.1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Millions
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Net income (loss) $ 502 $ (202) $ 256
Other comprehensive income (loss), net of tax:      
Foreign currency translation (4) 14 9
Change in fair value of derivative financial instruments, net of tax expense of $2, $—, and $— 16 27 8
Reclassification adjustment for losses (gains) on derivative financial instruments, net of (tax expense) tax benefit of $(1), $(2), and $3 (17) (31) 12
Other comprehensive income (loss), net of tax (5) 10 29
Comprehensive income (loss) $ 497 $ (192) $ 285
v3.24.1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Change in fair value of derivative financial instruments, net of tax (tax benefit) $ 2 $ 0 $ 0
Reclassification adjustment for realized losses on derivative financial instruments, net of (tax) tax benefit $ (1) $ (2) $ 3
v3.24.1
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
shares in Millions, $ in Millions
Total
Common Stock
Additional Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Stock Options [Member]
Common Stock
Stock Units [Member]
Common Stock
Balance at Jan. 30, 2021 $ 2,614 $ 19 $ 85 $ 2,501 $ 9    
Balance (in shares) at Jan. 30, 2021   374          
Net Income (Loss) Attributable to Parent 256     256      
Other comprehensive income (loss), foreign currency transaction and translation adjustment, net of tax, unrealized 9       9    
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax 8       8    
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent 12       12    
Other Comprehensive Income (Loss), Net of Tax 29            
Treasury Stock, Value, Acquired, Cost Method $ 201            
Number of shares repurchased (in shares) [1] 9            
Stock Repurchased and Retired During Period, Value $ (201) $ 0 (201)        
Stock Repurchased and Retired During Period, Shares   (9)          
Stock Issued During Period, Value, Other 54 $ 0 54        
Stock Issued During Period, Shares, Other           3 3
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation (36) 0 (36)        
Share-based compensation, net of estimated forfeitures 141   141        
Common stock cash dividends (135)     (135)      
Balance at Jan. 29, 2022 2,722 $ 19 43 2,622 38    
Balance (in shares) at Jan. 29, 2022   371          
Net Income (Loss) Attributable to Parent (202)     (202)      
Other comprehensive income (loss), foreign currency transaction and translation adjustment, net of tax, unrealized 14       14    
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax 27       27    
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent (31)       (31)    
Other Comprehensive Income (Loss), Net of Tax 10            
Treasury Stock, Value, Acquired, Cost Method $ 123            
Number of shares repurchased (in shares) [1] 11            
Stock Repurchased and Retired During Period, Value $ (123) $ (1) (62) (60)      
Stock Repurchased and Retired During Period, Shares   (11)          
Stock Issued During Period, Value, Other 27 $ 0 27        
Stock Issued During Period, Shares, Other           3 3
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation (20) 0 (20)        
Share-based compensation, net of estimated forfeitures 39   39        
Common stock cash dividends (220)     (220)      
Balance at Jan. 28, 2023 $ 2,233 $ 18 27 2,140 48    
Balance (in shares) at Jan. 28, 2023 366 366          
Net Income (Loss) Attributable to Parent $ 502     502      
Other comprehensive income (loss), foreign currency transaction and translation adjustment, net of tax, unrealized (4)       (4)    
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax 16       16    
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent (17)       (17)    
Other Comprehensive Income (Loss), Net of Tax (5)            
Treasury Stock, Value, Acquired, Cost Method $ 0            
Number of shares repurchased (in shares) [1] 0            
Stock Issued During Period, Value, Other $ 27 $ 0 27        
Stock Issued During Period, Shares, Other           3 3
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation (20) (1) (21)        
Share-based compensation, net of estimated forfeitures 80   80        
Common stock cash dividends (222)     (222)      
Balance at Feb. 03, 2024 $ 2,595 $ 19 $ 113 $ 2,420 $ 43    
Balance (in shares) at Feb. 03, 2024 372 372          
[1] Excludes shares withheld to settle employee statutory tax withholding related to the vesting of stock units.
v3.24.1
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY CONSOLIDATED STATEMENTS OF STOCKHOLDERS" EQUITY (Parenthetical) - $ / shares
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Statement of Stockholders' Equity [Abstract]      
Common Stock, Dividends, Per Share, Declared $ 0.60 $ 0.60 $ 0.36
v3.24.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Cash flows from operating activities:      
Net income (loss) $ 502 $ (202) $ 256
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 522 540 504
Share-based compensation 80 37 139
Impairment of operating lease assets 4 33 8
Impairment of store assets 3 18 1
Loss on extinguishment of debt 0 0 325
Amortization of debt issuance costs 4 6 14
Non-cash and other items 28 (16) 31
Loss on divestiture activity 0 35 59
Gain on sale of building (47) (83) 0
Deferred income taxes (64) 42 (61)
Changes in operating assets and liabilities:      
Merchandise inventory 383 554 (593)
Other current assets and other long-term assets 179 161 (42)
Accounts payable 42 (540) 186
Accrued expenses and other current liabilities 12 (243) 172
Income taxes payable, net of receivables and other tax-related items 75 417 (85)
Other long-term liabilities (15) (45) (3)
Operating lease assets and liabilities, net (176) (107) (102)
Net cash provided by operating activities 1,532 607 809
Cash flows from investing activities:      
Purchases of property and equipment (420) (685) (694)
Net proceeds from sale of buildings 76 458 0
Purchases of short-term investments 0 0 (753)
Proceeds from sales and maturities of short-term investments 0 0 1,162
Payments for acquisition activity, net of cash acquired 0 0 (135)
Net proceeds from divestiture activity, net of cash paid 9 0 (21)
Other 1 0 (5)
Net cash used for investing activities (334) (227) (446)
Cash flows from financing activities:      
Proceeds from revolving credit facility 0 350 0
Repayments of revolving credit facility (350) 0 0
Proceeds from issuance of long-term debt 0 0 1,500
Payments to extinguish debt 0 0 (2,546)
Payments for debt issuance costs 0 (6) (16)
Proceeds from issuances under share-based compensation plans 27 27 54
Withholding tax payments related to vesting of stock units (20) (20) (36)
Repurchases of common stock 0 (123) (201)
Cash dividends paid (222) (220) (226)
Proceeds from (Payments for) Other Financing Activities (2) (2) 0
Net cash provided by (used for) financing activities (567) 6 (1,471)
Effect of foreign exchange rate fluctuations on cash, cash equivalents, and restricted cash (3) (15) (6)
Net increase (decrease) in cash, cash equivalents, and restricted cash 628 371 (1,114)
Cash, Cash Equivalents, and Restricted Cash at beginning of period 1,273 902 2,016
Cash, Cash Equivalents, and Restricted Cash end of period 1,901 1,273 902
Cash Flow Non Cash Investing Disclosure [Abstract]      
Purchases of property and equipment not yet paid at end of period 43 55 124
Interest Paid, Excluding Capitalized Interest, Operating Activities 74 76 180
Supplemental disclosure of cash flow information:      
Income Taxes Paid, Net 49 (388) 215
Cash paid for operating lease liabilities $ 932 $ 942 $ 1,061
v3.24.1
Organization and Summary of Significant Accounting Policies
 12 Months Ended
Feb. 03, 2024
Accounting Policies [Abstract]  
Organization and Summary of Significant Accounting Policies Organization and Summary of Significant Accounting Policies
Organization
The Gap, Inc., a Delaware corporation, is a collection of lifestyle brands offering apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, and Athleta brands. As of February 3, 2024, we had Company-operated stores in the United States, Canada, Japan, and Taiwan. Our products are available to customers online through Company-owned websites and through third-party arrangements. We also have franchise agreements to operate Old Navy, Gap, Banana Republic, and Athleta throughout Asia, Europe, Latin America, the Middle East, and Africa.
In fiscal 2023, we signed agreements to transition our Gap Greater China operations to a third party, Baozun, to operate Gap Greater China stores and the in-market website as a franchise partner. On January 31, 2023, the Gap China transaction closed with Baozun. The Gap Taiwan operations will continue to operate as usual until regulatory approvals and closing conditions are met.
Principles of Consolidation
The Consolidated Financial Statements include the accounts of The Gap, Inc. and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated.
Fiscal Year and Presentation
Our fiscal year is a 52-week or 53-week period ending on the Saturday closest to January 31. The fiscal year ended February 3, 2024 (fiscal 2023) consisted of 53 weeks. The fiscal years ended January 28, 2023 (fiscal 2022) and January 29, 2022 (fiscal 2021) consisted of 52 weeks.
Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from these estimates. Additionally, these estimates and assumptions may change as a result of the impact of global economic conditions such as the uncertainty regarding global inflationary pressures, acts of terrorism or war, global credit and banking markets, and new legislation. We will continue to consider the impact of the global economic conditions on the assumptions and estimates used when preparing these Consolidated Financial Statements. Examples include, but are not limited to, assumptions and estimates used for inventory valuation, income taxes and valuation allowances, sales return and bad debt allowances, deferred revenue, and the impairment of long-lived assets. If the global economic conditions change beyond what is currently estimated by management, such future changes may have an adverse impact on the Company's results of operations and financial position.
Cash and Cash Equivalents
Cash includes funds deposited in banks and amounts in transit from banks for customer credit card and debit card transactions that process in less than seven days.
All highly liquid investments with original maturities of three months or less at the time of purchase are classified as cash equivalents. We value these investments at their original purchase prices plus interest that has accrued at the stated rate. Our cash equivalents are placed in time deposits. Income related to these securities is recorded within interest income on the Consolidated Statements of Operations.
Restricted Cash
Any cash that is legally restricted from use is classified as restricted cash. If the purpose of restricted cash is related to acquiring a long-term asset, liquidating a long-term liability, or is otherwise unavailable for a period longer than one year from the balance sheet date, the restricted cash is included within other long-term assets on our Consolidated Balance Sheets. Otherwise, restricted cash is included within other current assets on our Consolidated Balance Sheets.
As of February 3, 2024, January 28, 2023, and January 29, 2022, restricted cash primarily includes consideration that serves as collateral for our insurance obligations and certain other obligations occurring in the normal course of business. As of January 28, 2023, restricted cash also included a collateral amount under the SCF program of $30 million. See Note 18 of Notes to Consolidated Financial Statements for related disclosures.
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported on our Consolidated Balance Sheets to the total shown on our Consolidated Statements of Cash Flows:
($ in millions)February 3,
2024		January 28,
2023		January 29,
2022
Cash and cash equivalents$1,873 $1,215 $877 
Restricted cash included in other current assets— 32 — 
Restricted cash included in other long-term assets28 26 25 
Total cash, cash equivalents, and restricted cash shown on the Consolidated Statement of Cash Flows$1,901 $1,273 $902 
Merchandise Inventory
We value inventory at the LCNRV, with cost determined using the weighted-average cost method. We record an adjustment to inventory when future estimated selling price is less than cost. We review our inventory levels in order to identify slow-moving merchandise and broken assortments (items no longer in stock in a sufficient range of sizes or colors) and we primarily use promotions and markdowns to clear merchandise. In addition, we estimate and accrue shortage for the period between the last physical count and the balance sheet date.
Property and Equipment
Depreciation is computed using the straight-line method over the estimated useful lives of the related assets. Estimated useful lives are as follows:
CategoryTerm
Leasehold improvements
Shorter of remaining lease term or economic life, up to 15 years
Furniture and equipment
Up to 10 years
Software
Up to 7 years
Buildings and building improvements
Up to 39 years
When assets are sold or retired, the cost and related accumulated depreciation are removed from the accounts, with any resulting gain or loss recorded within operating expenses on the Consolidated Statements of Operations. Costs of maintenance and repairs are expensed as incurred. Costs incurred to implement cloud computing arrangements hosted by third-party vendors are capitalized when incurred during the application development phase and amortized on a straight-line basis over the contractual term, plus any reasonably certain renewal periods, of the cloud computing arrangement. Capitalized amounts related to such arrangements are recorded within other current assets and other long-term assets on our Consolidated Balance Sheets and were not material for fiscal 2023, 2022, or 2021.
Leases
We determine if a long-term contractual obligation is a lease at inception. The majority of our operating leases relate to Company stores. We also lease some of our corporate facilities and distribution centers. These operating leases expire at various dates through fiscal 2047. Most store leases have a five-year base period and include options that allow us to extend the lease term beyond the initial base period, subject to terms agreed upon at lease inception. Some leases also include early termination options, which can be exercised under specific conditions. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.
We record our lease liabilities at the present value of the lease payments not yet paid, discounted at the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term. As the Company's leases do not provide an implicit interest rate, the Company uses an incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments.
We recognize operating lease cost over the estimated term of the lease, which includes options to extend lease terms that are reasonably certain of being exercised, starting when possession of the property is taken from the landlord, which normally includes a construction period prior to the store opening. When a lease contains a predetermined fixed escalation of the fixed rent, we recognize the related operating lease cost on a straight-line basis over the lease term. In addition, certain of our lease agreements include variable lease payments, such as payments based on a percentage of sales that are in excess of a predetermined level and/or increases based on a change in the consumer price index or fair market value. These variable lease payments are excluded from minimum lease payments and are included in the determination of net lease cost when it is probable that the expense has been incurred and the amount can be reasonably estimated. If an operating lease asset is impaired, the remaining operating lease asset will be amortized on a straight-line basis over the remaining lease term.
See Note 12 of Notes to Consolidated Financial Statements for related disclosures.
Revenue Recognition
The Company’s revenues primarily include merchandise sales at stores, online, and through franchise and licensing agreements. We also receive revenue sharing from our credit card agreement for private label and co-branded credit cards, and breakage revenue related to our gift cards, merchandise return cards, and outstanding loyalty points, which are realized based upon historical redemption patterns. For online sales, the Company has elected to treat shipping and handling as fulfillment activities and not a separate performance obligation. Accordingly, we recognize revenue for our single performance obligation related to online sales at the time control of the merchandise passes to the customer, which is generally at the time of shipment. Revenues are presented net of any taxes collected from customers and remitted to governmental authorities.
We record sales return allowances and a right of returns asset on a gross basis for expected future merchandise returns, based on historical return patterns, merchandise mix, and recent trends. Sales return allowances are recorded within accrued expenses and other current liabilities and the right of returns asset is recorded within other current assets on our Consolidated Balance Sheets.
We have credit card agreements with third parties to provide our customers with private label credit cards and co-branded credit cards (collectively, the “Credit Card programs"). Each private label credit card bears the logo of Gap, Banana Republic, Old Navy, or Athleta and can be used at any of our U.S. store locations and online. The current co-branded credit card is a MasterCard credit card bearing the logo of Gap, Banana Republic, Old Navy, or Athleta and can be used everywhere MasterCard credit cards are accepted. The Credit Card programs are a part of Gap Inc.’s loyalty program where members enjoy incentives in the form of rewards which can be redeemed across all of our brands.
During fiscal 2022, the Company launched a new long-term credit card program with Barclays that replaced our prior credit card program with Synchrony Financial. Barclays, a third-party financial institution, is the sole owner of the accounts and underwrites the credit issued under the Credit Card programs. Our agreement with Barclays provides for certain payments to be made to us, including a share of revenue from the performance of the credit card portfolios and reimbursements of loyalty program discounts. We have identified separate performance obligations related to our credit card agreement that includes both providing a license and an obligation to redeem loyalty points issued under the loyalty rewards program. Our obligation to provide a license is satisfied when the subsequent sale or usage occurs and our obligation to redeem loyalty points is deferred until those loyalty points are redeemed. Income related to our credit card agreement is classified within net sales on our Consolidated Statements of Operations. In conjunction with entering into our agreement with Barclays, the Company also entered into a corresponding agreement with MasterCard for co-branded cards that replaced our prior agreement with Visa.
We have franchise agreements to operate Old Navy, Gap, Banana Republic, and Athleta throughout Asia, Europe, Latin America, the Middle East, and Africa. Under these agreements, third parties operate, or will operate, stores and websites that sell apparel and related products under our brand names. We have identified separate performance obligations related to our franchise agreements that include both providing our franchise partners with a license and an obligation to supply franchise partners with our merchandise. Our obligation to provide a license is satisfied when the subsequent sale or usage occurs and our obligation to supply franchise partners with our merchandise is satisfied when control of the merchandise transfers. We also have licensing agreements with licensees to sell products using our brand names.
We defer revenue when cash payments are received in advance of performance for unsatisfied obligations related to our gift cards, licensing agreements, outstanding loyalty points, and reimbursements of loyalty program discounts associated with our credit card agreement.
See Note 3 of Notes to Consolidated Financial Statements for related revenue disclosures.
Classification of Expenses
Cost of goods sold and occupancy expenses include the following:
•the cost of merchandise;
•inventory shortage and valuation adjustments;
•freight charges;
•online shipping and packaging costs;
•cost associated with our sourcing operations, including payroll, benefits, and other administrative expenses;
•lease and other occupancy related cost, depreciation, and amortization related to our store operations, distribution centers, information technology, and certain corporate functions; and
•gains and losses associated with foreign currency derivative contracts used to hedge forecasted merchandise purchases and related costs denominated in U.S. dollars made by our international subsidiaries whose functional currencies are their local currencies.
Operating expenses include the following:
•payroll, benefits, and other administrative expenses for our store operations, field management, and distribution centers;
•payroll, benefits, and other administrative expenses for our corporate functions, including product design and development;
•advertising expenses;
•information technology expenses and maintenance costs;
•lease and other occupancy related cost, depreciation, and amortization for our corporate facilities;
•research and development expenses;
•gains and losses associated with foreign currency derivative contracts not designated as hedging instruments;
•third-party credit card processing fees; and
•other expenses (income).
Payroll, benefits, and other administrative expenses for our distribution centers recorded within operating expenses were $320 million, $386 million, and $379 million in fiscal 2023, 2022, and 2021, respectively. Research and development costs described in Accounting Standards Codification ("ASC") No. 730 are expensed as incurred. These costs primarily consist of payroll and related benefits attributable to time spent on research and development activities for new innovative products and technological improvements for existing products and process innovation. Research and development expenses recorded within operating expenses under ASC 730 were $37 million, $46 million, and $41 million in fiscal 2023, 2022, and 2021, respectively.
The classification of expenses varies across the apparel retail industry. Accordingly, our cost of goods sold and occupancy expenses and operating expenses may not be comparable to those of other companies.
Impairment of Long-Lived Assets
We review the carrying amount of long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Events that result in an impairment review include a significant decrease in the operating performance of the long-lived asset, the decision to close a store, corporate facility, or distribution center or adverse changes in business climate. Long-lived assets are considered impaired if the carrying amount exceeds the estimated undiscounted future cash flows of the asset or asset group over the estimated remaining life. The asset group is defined as the lowest level for which identifiable cash flows are available and largely independent of the cash flows of other groups of assets, which for our retail stores is generally at the store level. The asset group for retail stores is comprised of both property and equipment and operating lease assets. For impaired assets, we recognize a loss equal to the difference between the carrying amount of the asset or asset group and its estimated fair value, which is recorded within operating expenses on the Consolidated Statements of Operations. The estimated fair value of the asset or asset group is based on discounted future cash flows of the asset or asset group using a discount rate commensurate with the related risk. For operating lease assets, the Company determines the estimated fair value of the assets by discounting the estimated market rental rates using available valuation techniques.
See Note 8 of Notes to Consolidated Financial Statements for related disclosures.
Impairment of Goodwill and Intangible Assets
We review the carrying amount of goodwill and other indefinite-lived intangible assets for impairment annually in the fourth quarter of the fiscal year and whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Events that result in an impairment review include significant changes in the business climate, declines in our operating results, or an expectation that the carrying amount may not be recoverable. We assess potential impairment by considering present economic conditions as well as future expectations. If goodwill is considered impaired, we recognize a loss equal to the difference between the carrying amount and the estimated fair value of the reporting unit.
A trade name is considered impaired if the carrying amount exceeds its estimated fair value. If a trade name is considered impaired, we recognize a loss equal to the difference between the carrying amount and the estimated fair value of the trade name. The fair value of a trade name is determined using the relief from royalty method, which requires management to make assumptions and to apply judgment, including forecasting future sales, and selecting appropriate discount rates and royalty rates.
Goodwill and other indefinite-lived intangible assets, including the trade names, are recorded within other long-term assets on the Consolidated Balance Sheets.
See Note 6 of Notes to Consolidated Financial Statements for related disclosures.
Advertising
Costs associated with the production of advertising, such as writing, copy, printing, and other costs, are expensed as incurred. Costs associated with communicating advertising that has been produced, such as television, magazine costs, and digital and social media, are expensed when the advertising event takes place or is made available. Advertising expense was $882 million, $1,039 million, and $1,115 million in fiscal 2023, 2022, and 2021, respectively, and is recorded within operating expenses on the Consolidated Statements of Operations.
Share-Based Compensation
Share-based compensation expense for stock options and other stock awards is determined based on the grant-date fair value. We use the Black-Scholes-Merton option-pricing model to determine the fair value of stock options, which requires the input of subjective assumptions regarding the expected term, expected volatility, dividend yield, and risk-free interest rate. There were no stock options issued to employees during fiscal 2023. For units granted, whereby shares of common stock are issued for units as they vest (“Stock Units”), the fair value is determined either based on the Company’s stock price on the date of grant less future expected dividends during the vesting period or a Monte Carlo method for certain Stock Units granted with a market condition. For stock options and Stock Units, we recognize share-based compensation cost over the vesting period. We account for forfeitures as they occur. Share-based compensation expense is recorded primarily within operating expenses on the Consolidated Statements of Operations.
See Note 11 of Notes to Consolidated Financial Statements for related disclosures.
Foreign Currency
Our international subsidiaries primarily use local currencies as their functional currency and translate their assets and liabilities at the current rate of exchange in effect at the balance sheet date. Revenue and expenses from their operations are translated using rates that approximate those in effect during the period in which the transactions occur. The resulting gains and losses from translation are recorded on the Consolidated Statements of Comprehensive Income (Loss) and in accumulated other comprehensive income ("OCI") on the Consolidated Statements of Stockholders’ Equity. Transaction gains and losses resulting from intercompany balances of a long-term investment nature are also classified as accumulated OCI. Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the local functional currency are recorded within operating expenses on the Consolidated Statements of Operations.
The aggregate transaction gains and losses recorded within operating expenses on the Consolidated Statements of Operations are as follows:
 Fiscal Year
($ in millions)202320222021
Foreign currency transaction loss
$(9)$(59)$(18)
Realized and unrealized gain from certain derivative financial instruments
11 57 18 
Net foreign exchange gain (loss)$2 $(2)$— 
Income Taxes
Deferred income taxes are recorded for temporary differences between the tax basis of assets and liabilities and their reported amounts on the Consolidated Financial Statements. Valuation allowances are established against deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will not be realized.
Our income tax expense includes changes in our estimated liability for exposures associated with our various tax filing positions. At any point in time, many tax years are subject to or in the process of being audited by various taxing authorities. To the extent our estimates of settlements change or the final tax outcome of these matters is different from the amounts recorded, such differences will impact the income tax provision in the period in which such determinations are made.
The Company recognizes interest related to unrecognized tax benefits in interest expense and penalties related to unrecognized tax benefits in operating expenses on the Consolidated Statements of Operations.
The Company has made an accounting policy election to treat taxes due on the global intangible low-taxed income (“GILTI”) of foreign subsidiaries as a current period expense.
Earnings per Share
Basic earnings per share is computed as net income (loss) divided by basic weighted-average number of common shares outstanding for the period. Diluted earnings per share is computed as net income divided by diluted weighted-average number of common shares outstanding for the period including common stock equivalents. During periods of net loss, the dilutive impact of outstanding options and awards is excluded from dilutive shares. Common stock equivalents consist of shares subject to share-based awards with exercise prices less than the average market price of our common stock for the period, to the extent their inclusion would be dilutive. Stock options and other stock awards that contain performance conditions are not included in the calculation of common stock equivalents until such performance conditions have been achieved.
See Note 14 of Notes to Consolidated Financial Statements for related disclosures.    
Recent Accounting Pronouncements
Except as noted below, the Company has considered all recent accounting pronouncements and concluded that there are no recent accounting pronouncements that may have a material impact on our Consolidated Financial Statements and disclosures, based on current information.
Accounting Pronouncement Recently Adopted
ASU No. 2022-04, Disclosure of Supplier Finance Program Obligations
In September 2022, the Financial Accounting Standards Board ("FASB") issued accounting standards update ("ASU") No. 2022-04, Disclosure of Supplier Finance Program Obligations. The ASU is intended to enhance the transparency of the use of supplier finance programs by requiring additional disclosures about the program’s nature and potential magnitude, including a rollforward of the obligations and activity during the period. The ASU is effective retrospectively for fiscal years and interim periods within those years beginning after December 15, 2022, except for the amendment on rollforward information, which is effective prospectively for fiscal years beginning after December 15, 2023. The ASU does not affect the recognition, measurement, or financial statement presentation of supplier finance program obligations. We adopted this ASU on January 29, 2023. See Note 18 of Notes to Consolidated Financial Statements for information regarding our supply chain finance program.
Accounting Pronouncements Not Yet Adopted
ASU No. 2023-07, Improvements to Reportable Segment Disclosures
In November 2023, the FASB issued ASU No. 2023-07, Improvements to Reportable Segment Disclosures. The ASU is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The ASU is effective retrospectively for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024. We are currently assessing the impact that this ASU will have on our Consolidated Financial Statements and related disclosures.
ASU No. 2023-09, Improvements to Income Tax Disclosures
In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures. The ASU is intended to improve the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the rate reconciliation, as well as income taxes paid disaggregated by jurisdiction. The ASU is effective for annual periods beginning after December 15, 2024 and should be applied on a prospective basis, but retrospective application is permitted. We are currently assessing the impact that this ASU will have on our Consolidated Financial Statements and related disclosures.
Global Anti-Base Erosion Model Rules ("Pillar Two")
The Organization for Economic Co-operation and Development ("OECD") has introduced a new global minimum corporate tax of 15%, commonly referred to as Pillar Two. While the U.S. has not yet adopted the Pillar Two rules, various other governments around the world are enacting legislation which is effective beginning in fiscal 2024. These rules are not expected to materially impact the Company’s Consolidated Financial Statements, considering the Company does not have material operations in jurisdictions with tax rates substantially lower than the Pillar Two minimum. The Company will continue to monitor U.S. and global legislative action related to Pillar Two for potential impacts.
v3.24.1
Additional Financial Statement Information
 12 Months Ended
Feb. 03, 2024
Additional Financial Statement Information [Abstract]  
Additional Financial Information Disclosure [Text Block] Additional Financial Statement Information
Cash and Cash Equivalents
Cash and cash equivalents consist of the following:
($ in millions)February 3,
2024		January 28,
2023
Cash (1)$1,872 $1,200 
Time deposits
1 15 
Cash and cash equivalents$1,873 $1,215 
__________
(1)Cash includes $76 million and $60 million of amounts in transit from banks for customer credit card and debit card transactions as of February 3, 2024 and January 28, 2023, respectively.
Other Current Assets
Other current assets consist of the following:
($ in millions)February 3,
2024		January 28,
2023
Accounts receivable
$289 $340 
Prepaid income taxes and income taxes receivable
36 150 
Prepaid minimum rent and occupancy expenses
31 106 
Right of returns asset
28 46 
Derivative financial instruments7 11 
Assets held for sale (1)
— 172 
Other136 188 
Other current assets$527 $1,013 
__________
(1)The Company reclassifies certain assets and liabilities as held for sale that are expected to be sold within the next twelve months. As of January 28, 2023, the aggregate carrying amount of assets held for sale consisted of $142 million related to agreements to transition our Gap Greater China operations to Baozun and $30 million related to an agreement for the sale of a building. See Note 17 of Notes to Consolidated Financial Statements for related disclosures of the transition of our Gap Greater China operations to Baozun.
Property and Equipment
Property and equipment are stated at cost less accumulated depreciation and consist of the following:
($ in millions)February 3,
2024		January 28,
2023
Furniture and equipment$2,805 $2,833 
Leasehold improvements2,197 2,270 
Land, buildings, and building improvements1,140 1,103 
Software1,121 1,142 
Construction-in-progress177 177 
Property and equipment, at cost7,440 7,525 
Less: Accumulated depreciation(4,874)(4,837)
Property and equipment, net of accumulated depreciation$2,566 $2,688 
Depreciation expense for property and equipment was $513 million, $531 million, and $502 million for fiscal 2023, 2022, and 2021, respectively.
Interest of $5 million, $7 million, and $7 million related to assets under construction was capitalized in fiscal 2023, 2022, and 2021, respectively.
See Note 8 of Notes to Consolidated Financial Statements for information regarding impairment charges.
Other Long-Term Assets
Other long-term assets consist of the following:
($ in millions)February 3,
2024		January 28,
2023
Long-term income tax-related assets$561 $480 
Goodwill207 207 
Trade names54 54 
Intangible assets subject to amortization, net of accumulated amortization18 27 
Other128 140 
Other long-term assets$968 $908 
See Note 6 of Notes to Consolidated Financial Statements for additional disclosures on goodwill and other intangible assets.
Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consist of the following:
($ in millions)February 3,
2024		January 28,
2023
Accrued compensation and benefits394 243 
Deferred revenue
337 354 
Sales return allowances
62 84 
Accrued advertising40 44 
Accrued interest21 22 
Derivative financial instruments8 20 
Liabilities held for sale (1)
— 126 
Other246 326 
Accrued expenses and other current liabilities$1,108 $1,219 
__________
(1)The Company reclassifies certain assets and liabilities as held for sale that are expected to be sold within the next twelve months. See Note 17 of Notes to Consolidated Financial Statements for related disclosures.
Other Long-Term Liabilities
Other long-term liabilities consist of the following:
($ in millions)February 3,
2024		January 28,
2023
Long-term income tax-related liabilities$319 $327 
Long-term asset retirement obligations (1)28 38 
Long-term deferred rent and tenant allowances
23 27 
Other142 152 
Other long-term liabilities$512 $544 
__________
(1)The net activity related to asset retirement obligations includes adjustments to the asset retirement obligation balance and fluctuations in foreign currency exchange rates.
v3.24.1
Revenue (Notes)
 12 Months Ended
Feb. 03, 2024
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer [Text Block] Revenue
Disaggregation of Net Sales
We disaggregate our net sales by channel and also by brand and region. Net sales by region are allocated based on the location of the store where the customer paid for and received the merchandise; the distribution center or store from which the products were shipped; or the region of the franchise or licensing partner.
Net sales disaggregated by channel for fiscal 2023, 2022, and 2021 are as follows:
Fiscal Year
($ in millions)202320222021
Store and franchise sales
$9,346 $9,651 $10,239 
Online sales (1)
5,543 5,965 6,431 
Total net sales$14,889 $15,616 $16,670 
__________
(1)Online sales primarily include sales originating from our online channel including those that are picked up or shipped from stores and net sales from revenue-generating strategic initiatives.
Net sales disaggregated by brand and region are as follows:
($ in millions)Old Navy GlobalGap GlobalBanana
Republic Global		Athleta Global
Other (3)
Total
Fiscal 2023 (1)
U.S. (2)$7,460 $2,470 $1,681 $1,310 $46 $12,967 
Canada674 332 170 45 — 1,221 
Other regions
69 539 88 5 — 701 
Total $8,203 $3,341 $1,939 $1,360 $46 $14,889 
($ in millions) Old Navy GlobalGap GlobalBanana
Republic Global		Athleta Global
Other (3)
Total
Fiscal 2022
U.S. (2)$7,471 $2,461 $1,829 $1,428 $12 $13,201 
Canada679 332 192 33 — 1,236 
Other regions
84 981 95 19 — 1,179 
Total $8,234 $3,774 $2,116 $1,480 $12 $15,616 
($ in millions) Old Navy GlobalGap GlobalBanana
Republic Global 		Athleta Global
Other (4)
Total
Fiscal 2021
U.S. (2)$8,272 $2,608 $1,703 $1,432 $102 $14,117 
Canada713 349 178 12 — 1,252 
Other regions
97 1,106 95 3 — 1,301 
Total $9,082 $4,063 $1,976 $1,447 $102 $16,670 
__________
(1)Fiscal 2023 includes incremental sales attributable to the 53rd week.
(2)U.S. includes the United States and Puerto Rico.
(3)Primarily consists of net sales from revenue-generating strategic initiatives.
(4)Primarily consists of net sales for the Intermix and Janie and Jack brands, as well as other revenue-generating strategic initiatives. The divestiture of Janie and Jack was completed on April 8, 2021. The divestiture of Intermix was completed on May 21, 2021.
Deferred Revenue
We defer revenue when cash payments are received in advance of performance for unsatisfied obligations related to our gift cards, licensing agreements, outstanding loyalty points, and reimbursements of loyalty program discounts associated with our credit card agreement. For fiscal 2023, the opening balance of deferred revenue for these obligations was $354 million, of which $253 million was recognized as revenue during the period. The closing balance of deferred revenue for these obligations was $337 million as of February 3, 2024.
For fiscal 2022, the opening balance of deferred revenue for these obligations was $345 million, of which $241 million was recognized as revenue during the period. The closing balance of deferred revenue for these obligations was $354 million as of January 28, 2023.
In April 2021, the Company entered into agreements with Barclays and Mastercard relating to a new long-term credit card program. In May 2022, the Company launched the new long-term credit card program with Barclays and Mastercard and accordingly, our prior credit card program with Synchrony Financial was discontinued. The Company received an upfront payment of $60 million related to the new agreements prior to the program launch, which is being recognized as revenue over the term of the agreements.
v3.24.1
Restructuring and Related Activities
 12 Months Ended
Feb. 03, 2024
Restructuring and Related Activities [Abstract]  
Restructuring and Related Activities Disclosure [Text Block] Restructuring
On April 25, 2023, the Company's management committed to the Plan as part of the Company's previously announced efforts to simplify and optimize its operating model and structure. The Plan included a reduction in workforce of approximately 1,800 employees, primarily in headquarters locations. The actions associated with the reduction of the Company's workforce under the Plan were substantially completed in the first half of fiscal 2023.
In connection with the Plan, the Company incurred $93 million in pre-tax restructuring costs during fiscal 2023. The costs incurred in connection with the Plan are as follows:
Fiscal 2023
($ in millions)Cost of goods sold and occupancy expensesOperating expensesTotal Costs
Employee-related costs
$4 $60 $64 
Consulting and other associated costs
— 29 29 
Total restructuring costs$4 $89 $93 
The following table summarizes restructuring costs that will be settled with cash payments and the related liability balances as of February 3, 2024, which are included in accrued expenses and other current liabilities on the Consolidated Balance Sheet:
($ in millions)
Employee-Related Costs
Consulting and Other Associated Costs
Total
Balance at January 28, 2023$— $— $— 
53 Weeks Ended February 3, 2024
Provision65 29 94 
Adjustments(1)— (1)
Cash payments(59)(29)(88)
Balance at February 3, 2024$5 $— $5 
The remaining liability balances are expected to settle with cash payments during fiscal 2024.
v3.24.1
Income Taxes
 12 Months Ended
Feb. 03, 2024
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
For financial reporting purposes, components of income (loss) before income taxes are as follows:
 Fiscal Year
($ in millions)202320222021
United States$463 $(280)$217 
Foreign93 141 106 
Income (loss) before income taxes$556 $(139)$323 
The tax expense for income taxes consists of the following:
 Fiscal Year
($ in millions)202320222021
Current:
Federal$63 $(35)$46 
State12 6 38 
Foreign43 50 44 
Total current118 21 128 
Deferred:
Federal(40)24 (50)
State(6)15 (23)
Foreign(18)3 12 
Total deferred(64)42 (61)
Total tax expense$54 $63 $67 
The difference between the effective tax rate and the U.S. federal statutory tax rate is as follows:
 Fiscal Year
 202320222021
Federal statutory tax rate21.0 %21.0 %21.0 %
State and local income taxes, net of federal benefit2.5 (13.7)5.3 
Tax impact of foreign operations(0.7)(28.1)(2.5)
Impact of the CARES Act of 2020— — (5.6)
Valuation allowances (1)(11.0)(3.6)7.4 
Impact of divestiture activity(1.6)(21.6)(6.4)
Other(0.5)0.7 1.5 
Effective tax rate9.7 %(45.3)%20.7 %
__________
(1)Beginning in fiscal 2022, we have made a change for all periods presented to separately disclose valuation allowances as its own line item. Previously, the impact of valuation allowances was grouped within various line items in fiscal 2021.
During fiscal 2023, we recorded a $65 million benefit for changes in U.S. and foreign valuation allowances and a $32 million benefit related to a U.S. transfer pricing settlement related to our sourcing activities.
During fiscal 2022, we recorded a $37 million expense related to foreign divestiture activity.
During fiscal 2021, we recorded a $18 million benefit related to finalization of the net operating loss carryback provisions prescribed in the CARES Act. We also recorded a $21 million benefit related to recognition of certain tax benefits associated with divestiture activity.
Deferred tax assets (liabilities) consist of the following:
($ in millions)February 3,
2024		January 28,
2023
Gross deferred tax assets:
Operating lease liabilities$1,021 $1,126 
Accrued payroll and related benefits86 44 
Accruals176 180 
Inventory capitalization and other adjustments75 93 
Deferred income53 51 
Federal, state, and foreign net operating losses197 290 
Other22 95 
Total gross deferred tax assets1,630 1,879 
Valuation allowances(233)(369)
Total deferred tax assets, net of valuation allowances1,397 1,510 
Deferred tax liabilities:
Depreciation and amortization(154)(246)
Operating lease assets(802)(881)
Other(11)(12)
Total deferred tax liabilities(967)(1,139)
Net deferred tax assets$430 $371 
As of February 3, 2024, we had approximately $961 million of state and $594 million of foreign loss carryovers in multiple taxing jurisdictions that could be utilized to reduce tax liabilities of future years. We also had approximately $16 million of foreign tax credit carryovers as of February 3, 2024.
Approximately $770 million of state losses expire between fiscal 2024 and fiscal 2043, and $191 million of the state losses do not expire. Approximately $261 million of the foreign losses expire between fiscal 2024 and fiscal 2043, and $333 million of the foreign losses do not expire. The foreign tax credits begin to expire in fiscal 2024.
Valuation allowances are recorded if, based on the assessment of available evidence, it is more likely than not that some portion, or all, of the deferred tax asset will not be realized. Management must analyze all available positive and negative evidence regarding realization of the deferred tax assets and make an assessment of the likelihood of sufficient future taxable income. We have provided valuation allowances of $233 million on certain federal, state, and foreign deferred tax assets that were not deemed realizable based upon estimates of future taxable income.
The activity related to our unrecognized tax benefits is as follows: 
 Fiscal Year
($ in millions)202320222021
Balance at beginning of fiscal year$344 $359 $340 
Increases related to current year tax positions12 11 26 
Prior year tax positions:
Increases21 1 7 
Decreases(30)(24)(9)
Lapse of Statute of Limitations(1)— (1)
Cash settlements(3)(2)(2)
Foreign currency translation— (1)(2)
Balance at end of fiscal year$343 $344 $359 
Of the total unrecognized tax benefits as of February 3, 2024, January 28, 2023, and January 29, 2022, approximately $325 million, $326 million, and $339 million, respectively, represents the amount that, if recognized, would favorably affect the effective income tax rate in future periods.
During fiscal 2023, 2022, and 2021, net interest expense of $4 million, $12 million, and $6 million, respectively, has been recognized on the Consolidated Statements of Operations relating to income tax liabilities.
As of February 3, 2024 and January 28, 2023, the Company had total accrued interest related to income tax liabilities of $49 million and $43 million, respectively. There were no accrued penalties related to income tax liabilities as of February 3, 2024 or January 28, 2023.
The Company conducts business globally, and as a result, files income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. In the normal course of business, we are subject to examination by taxing authorities throughout the world, including such major jurisdictions as the United States, Canada, France, the United Kingdom, China, Hong Kong, Japan, and India. We are no longer subject to U.S. federal income tax examinations for fiscal years before 2009, and with few exceptions, we also are no longer subject to U.S. state, local, or non-U.S. income tax examinations for fiscal years before 2010.
The Company engages in continual discussions with taxing authorities regarding tax matters in the various U.S. and foreign jurisdictions in the normal course of business. As of February 3, 2024, it is reasonably possible that we will recognize a decrease in gross unrecognized tax benefits within the next 12 months of up to $1 million, primarily due to the closing of settlements and audits. If we do recognize such a decrease, the net impact on the Consolidated Statements of Operations would not be material.
v3.24.1
Goodwill and Trade Names
 12 Months Ended
Feb. 03, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Disclosure [Text Block] Goodwill and Other Intangible Assets
The following goodwill and other intangible assets are included in other long-term assets on the Consolidated Balance Sheets:
($ in millions)February 3,
2024		January 28,
2023
Goodwill$207 $207 
Trade names$54 $54 
Intangible assets subject to amortization $54 $54 
Less: Accumulated amortization(36)(27)
Intangible assets subject to amortization, net$18 $27 
The amortization expense for intangible assets subject to amortization primarily recorded in cost of goods sold and occupancy expenses on the Consolidated Statements of Operations was $9 million, $9 million, and $2 million for fiscal 2023, 2022, and 2021, respectively.
We did not recognize any impairment charges for goodwill or other intangible assets in fiscal 2023, 2022, or 2021.
v3.24.1
Debt
 12 Months Ended
Feb. 03, 2024
Debt Disclosure [Abstract]  
Debt Disclosure [Text Block] Debt and Credit Facilities
Long-term debt recorded on the Consolidated Balance Sheets consists of the following:
($ in millions)February 3,
2024		January 28,
2023
   2029 Notes$750 $750 
   2031 Notes750 750 
Less: Unamortized debt issuance costs(12)(14)
Total long-term debt$1,488 $1,486 
On September 27, 2021, we completed the issuance of $1.5 billion aggregate principal amount of the 3.625 percent senior notes due 2029 ("2029 Notes") and 3.875 percent senior notes due 2031 ("2031 Notes") (the 2029 Notes and the 2031 Notes, collectively, the "Senior Notes") at par in a private placement to qualified institutional buyers. We recorded $16 million of debt issuance costs related to the issuance of the Senior Notes within long-term debt on the Consolidated Balance Sheet, which is being amortized through interest expense over the life of the instrument.
In conjunction with debt restructuring in fiscal 2021, we incurred a loss on extinguishment of debt of $325 million, which was recorded on the Consolidated Statement of Operations and primarily consisted of tender premiums of $253 million, make-whole premiums of $40 million, and unamortized debt issuance costs of $28 million.
The scheduled maturity of the Senior Notes is as follows:
($ in millions)PrincipalInterest RateInterest Payments
October 1, 2029 (1)$750 3.625%Semi-Annual
October 1, 2031 (2)750 3.875%Semi-Annual
Total issuance$1,500 
__________
(1)Includes an option to redeem the 2029 Notes, in whole or in part at any time, subject to a make-whole premium, prior to October 1, 2024. On or after October 1, 2024, includes an option to redeem the 2029 Notes, in whole or in part at any time, at stated redemption prices.
(2)Includes an option to redeem the 2031 Notes, in whole or in part at any time, subject to a make-whole premium, prior to October 1, 2026. On or after October 1, 2026, includes an option to redeem the 2031 Notes, in whole or in part at any time, at stated redemption prices.
As of February 3, 2024, the aggregate estimated fair value of the Senior Notes was $1.26 billion and was based on the quoted market prices for each of the Senior Notes (level 1 inputs) as of the last business day of the fiscal year. The aggregate principal amount of the Senior Notes is recorded in long-term debt on the Consolidated Balance Sheet, net of the unamortized debt issuance costs.
On May 7, 2020, we entered into the ABL Facility, which was previously scheduled to expire in May 2023. On July 13, 2022, we entered into an amendment and restatement of the ABL Facility. Among other changes, the amendment and restatement extended the maturity of the ABL Facility to July 2027, increased the borrowing capacity from $1.8675 billion to $2.2 billion, modified the reference rate from the London Interbank Offered Rate ("LIBOR") to the Secured Overnight Financing Rate ("SOFR"), and reduced the applicable interest rate margin. Following the amendment and restatement, the ABL Facility generally bears interest at a per annum rate based on SOFR (subject to a zero floor) plus a margin, depending on borrowing base availability. We recorded $6 million of debt issuance costs related to the amendment and restatement of the ABL Facility, which is being amortized through interest expense over the term of the agreement. The ABL Facility is available for working capital, capital expenditures, and other general corporate purposes.
As of January 28, 2023, the Company's outstanding borrowing under the ABL Facility was $350 million and was recorded in long-term liabilities on the Consolidated Balance Sheet. During fiscal 2023, the Company repaid an aggregate of $350 million to reduce the outstanding borrowing under the ABL Facility to zero. There were no borrowings under the ABL Facility as of February 3, 2024.
We also have the ability to issue letters of credit on our ABL Facility. As of February 3, 2024, we had $48 million in standby letters of credit issued under the ABL Facility.
The Senior Notes contain covenants that may limit the Company’s ability to, among other things: (i) grant or incur liens and (ii) enter into sale and lease-back transactions. The Senior Notes are fully and unconditionally guaranteed on a senior unsecured basis, jointly and severally, by each of our existing wholly owned domestic subsidiaries that is a borrower or guarantor under our existing ABL Facility. These guarantees also extend to each of our future wholly owned domestic subsidiaries that is a borrower or guarantor under any credit facility of the Company, any guarantor, a guarantor of capital markets debt of the Company, or any guarantor in an aggregate principal amount in excess of a certain amount.
The ABL Facility is secured by specified U.S. and Canadian assets, including a first lien on inventory, certain receivables, and related assets. The ABL Facility contains customary covenants restricting the Company's activities, as well as those of its subsidiaries, including limitations on the ability to sell assets, engage in mergers or other fundamental changes, enter into capital leases or certain leases not in the ordinary course of business, enter into transactions involving related parties or derivatives, incur or prepay indebtedness, grant liens or negative pledges on its assets, make loans or other investments, pay dividends or repurchase stock or other securities, guarantee third-party obligations, engage in sale and lease-back transactions and make changes in its corporate structure. There are exceptions to these covenants, and some are only applicable when unused availability falls below specified thresholds. In addition, the ABL Facility includes, as a financial covenant, a springing fixed charge coverage ratio which arises when availability falls below a specified threshold.
v3.24.1
Fair Value Measurements
 12 Months Ended
Feb. 03, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
The Company measures certain financial assets and liabilities at fair value on a recurring basis. The Company categorizes financial assets and liabilities recorded at fair value based upon a three-level hierarchy that considers the related valuation techniques.
There were no material purchases, sales, issuances, or settlements related to recurring level 3 measurements during fiscal 2023 or 2022.
Financial Assets and Liabilities
Financial assets and liabilities measured at fair value on a recurring basis and cash equivalents held at amortized cost are as follows:
  
 Fair Value Measurements at Reporting Date Using
($ in millions)February 3,
2024		Quoted Prices in
Active Markets for
Identical Assets
(Level 1)		Significant Other
Observable Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Assets:
Cash equivalents$1 $— $1 $— 
Derivative financial instruments7 — 7 — 
Deferred compensation plan assets31 31 — — 
Other assets4 — — 4 
Total$43 $31 $8 $4 
Liabilities:
Derivative financial instruments$8 $— $8 $— 
  
 Fair Value Measurements at Reporting Date Using
($ in millions)January 28,
2023		Quoted Prices in
Active Markets for
Identical Assets
(Level 1)		Significant Other
Observable Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Assets:
Cash equivalents$15 $— $15 $— 
Derivative financial instruments11 — 11 — 
Deferred compensation plan assets34 34 — — 
Other assets 4 — — 4 
Total$64 $34 $26 $4 
Liabilities:
Derivative financial instruments$20 $— $20 $— 
We have highly liquid fixed and variable income investments classified as cash equivalents. We value these investments at their original purchase prices plus interest that has accrued at the stated rate. Our cash equivalents are placed in time deposits.
Derivative financial instruments primarily include foreign exchange forward contracts. See Note 9 of Notes to Consolidated Financial Statements for information regarding currencies hedged against the U.S. dollar.
We maintain the Gap, Inc. Deferred Compensation Plan (“DCP”), which allows eligible employees to defer base compensation and bonus up to a maximum percentage, and non-employee directors to defer receipt of a portion of their Board fees. Plan investments are directed by participants and are recorded at market value and designated for the DCP. The fair value of the Company’s DCP assets is determined based on quoted market prices, and the assets are recorded within other long-term assets on the Consolidated Balance Sheets.
See Note 13 of Notes to Consolidated Financial Statements for information regarding employee benefit plans.
Nonfinancial Assets
Long-lived assets, which for us primarily consist of store assets and operating lease assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. The estimated fair value of the long-lived assets is based on discounted future cash flows of the asset or asset group using a discount rate commensurate with the risk. For operating lease assets, the Company determines the estimated fair value of the assets by comparing discounted contractual rent payments to estimated market rental rates using available valuation techniques. These fair value measurements qualify as level 3 measurements in the fair value hierarchy.
See Note 1 of Notes to Consolidated Financial Statements for further information regarding the impairment of long-lived assets.
We recorded the following long-lived asset impairment charges in operating expenses on the Consolidated Statements of Operations:
Fiscal Year
($ in millions)202320222021
Operating lease assets (1)$4 $33 $8 
Store assets (2)3 18 1 
Total impairment charges of long-lived assets$7 $51 $9 
__________
(1)The impairment charge reduced the then carrying amount of the applicable operating lease assets of $51 million, $248 million, and $24 million to their fair value of $47 million, $215 million, and $16 million during fiscal 2023, 2022, and 2021, respectively.
(2)The impairment charge reduced the then carrying amount of the applicable store assets of $4 million, $21 million, and $1 million to their fair value of $1 million, $3 million, and zero during fiscal 2023, 2022, and 2021, respectively.
v3.24.1
Derivative Financial Instruments
 12 Months Ended
Feb. 03, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments Derivative Financial Instruments
We operate in foreign countries, which exposes us to market risk associated with foreign currency exchange rate fluctuations. We use derivative financial instruments to manage our exposure to foreign currency exchange rate risk and do not enter into derivative financial contracts for trading purposes. Consistent with our risk management guidelines, we hedge a portion of our transactions related to merchandise purchases for foreign operations and certain intercompany transactions using foreign exchange forward contracts. These contracts are entered into with large, reputable financial institutions that are monitored for counterparty risk. The currencies hedged against changes in the U.S. dollar are the Canadian dollar, Japanese yen, British pound, New Taiwan dollar, and Euro. Cash flows from derivative financial instruments are classified as cash flows from operating activities on the Consolidated Statements of Cash Flows.
Derivative financial instruments are recorded at fair value on the Consolidated Balance Sheets as other current assets, other long-term assets, accrued expenses and other current liabilities, or other long-term liabilities.
Cash Flow Hedges
We designate foreign exchange forward contracts used to hedge forecasted merchandise purchases and related costs denominated in U.S. dollars made by our international subsidiaries whose functional currencies are their local currencies as cash flow hedges. The foreign exchange forward contracts entered into to hedge forecasted merchandise purchases and related costs generally have terms of up to 24 months. The effective portion of the gain or loss on the derivative financial instruments is reported as a component of other comprehensive income (loss) and is recognized into net income (loss) during the period in which the underlying transaction impacts the Consolidated Statements of Operations.
Other Derivatives Not Designated as Hedging Instruments
We use foreign exchange forward contracts to hedge our market risk exposure associated with foreign currency exchange rate fluctuations for certain intercompany balances denominated in currencies other than the functional currency of the entity with the intercompany balance. The gain or loss on the derivative financial instruments that represent economic hedges, as well as the remeasurement impact of the underlying intercompany balances, is recorded in operating expenses on the Consolidated Statements of Operations in the same period and generally offset each other.
Outstanding Notional Amounts
As of February 3, 2024 and January 28, 2023, we had foreign exchange forward contracts outstanding in the following notional amounts:
($ in millions)February 3,
2024		January 28,
2023
Derivatives designated as cash flow hedges$381 $441 
Derivatives not designated as hedging instruments568 645 
Total$949 $1,086 
Quantitative Disclosures about Derivative Financial Instruments
The fair values of foreign exchange forward contracts are as follows:
($ in millions)February 3,
2024		January 28,
2023
Derivatives designated as cash flow hedges:
Other current assets$6 $9 
Accrued expenses and other current liabilities2 5 
Derivatives not designated as hedging instruments:
Other current assets1 2 
Accrued expenses and other current liabilities6 15 
Total derivatives in an asset position$7 $11 
Total derivatives in a liability position$8 $20 
All of the unrealized gains and losses from designated cash flow hedges as of February 3, 2024 will be recognized in income within the next 12 months at the then-current values, which may differ from the fair values as of February 3, 2024 shown above.
Our foreign exchange forward contracts are subject to master netting arrangements with each of our counterparties and such arrangements are enforceable in the event of default or early termination of the contract. We do not elect to offset the fair values of our derivative financial instruments on the Consolidated Balance Sheets and as such the fair values shown above represent gross amounts. The amounts subject to enforceable master netting arrangements are not material for all periods presented.
See Note 8 of Notes to Consolidated Financial Statements for disclosures on the fair value measurements of our derivative financial instruments.
The pre-tax amounts recognized in net income (loss) related to derivative instruments are as follows:
Location and Amount of (Gain) Loss Recognized in Net Income (Loss)
Fiscal Year 2023Fiscal Year 2022Fiscal Year 2021
($ in millions)Cost of goods sold and occupancy expensesOperating expensesCost of goods sold and occupancy expensesOperating expensesCost of goods sold and occupancy expensesOperating expenses
Total amount of expense line items presented on the Consolidated Statements of Operations in which the effects of derivatives are recorded$9,114 $5,215 $10,257 $5,428 $10,033 $5,827 
(Gain) loss recognized in net income (loss):
Derivatives designated as cash flow hedges $(18)$— $(33)$— $15 $— 
Derivatives not designated as hedging instruments— (11)— (57)— (18)
Total (gain) loss recognized in net income (loss)$(18)$(11)$(33)$(57)$15 $(18)
v3.24.1
Common Stock
 12 Months Ended
Feb. 03, 2024
Common Stock, Number of Shares, Par Value and Other Disclosure [Abstract]  
Common Stock Issuance and Repurchases Common Stock
Common and Preferred Stock
The Company is authorized to issue 2.3 billion shares of common stock. We are also authorized to issue 60 million shares of Class B common stock, which is convertible into shares of common stock on a share-for-share basis. Transfer of the Class B shares is restricted. In addition, the holders of the Class B common stock have six votes per share on most matters and are entitled to a lower cash dividend. No Class B shares have been issued as of February 3, 2024.
The Company is authorized to issue 30 million shares of one or more series of preferred stock, which has a par value of $0.05 per share, and to establish at the time of issuance the issue price, dividend rate, redemption price, liquidation value, conversion features, and such other terms and conditions of each series (including voting rights) as the Board deems appropriate, without further action on the part of the stockholders. No preferred shares have been issued as of February 3, 2024.
Share Repurchases
Share repurchase activity is as follows:
  
Fiscal Year
($ and shares in millions except average per share cost)202320222021
Number of shares repurchased (1)— 11 9 
Total cost$— $123 $201 
Average per share cost including commissions$— $11.59 $23.47 
__________
(1)Excludes shares withheld to settle employee statutory tax withholding related to the vesting of stock units.
In February 2019, the Board approved a $1.0 billion share repurchase authorization. The February 2019 repurchase program had $476 million remaining as of February 3, 2024. All common stock repurchased is immediately retired.
v3.24.1
Share-Based Compensation
 12 Months Ended
Feb. 03, 2024
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation Share-Based Compensation
Share-based compensation expense is as follows:
  
Fiscal Year
($ in millions)202320222021
Stock Units
$74 $26 $122 
Stock options3 7 13 
Employee stock purchase plan3 4 4 
Share-based compensation expense80 37 139 
Less: Income tax benefit(14)(14)(23)
Share-based compensation expense, net of tax$66 $23 $116 
No material share-based compensation expense was capitalized in fiscal 2023, 2022, or 2021.
There were no material modifications made to our outstanding stock options and Stock Units in fiscal 2023, 2022, or 2021.
General Description of Stock Option and Stock Unit Plans
The 2016 Long-Term Incentive Plan (the "2016 Plan") was last amended and restated in May 2023. Under the 2016 Plan, nonqualified stock options and Stock Units are granted to officers, directors, eligible employees, and consultants at exercise prices or initial values equal to the fair market value of the Company’s common stock at the date of grant or as determined by the Compensation and Management Development Committee of the Board.
As of February 3, 2024, there were 311,586,781 shares that have been authorized for issuance under the 2016 Plan.
Stock Units
Under the 2016 Plan, Stock Units are granted to employees and members of the Board. Vesting generally occurs over a period of three to four years of continued service by the employee in equal annual installments for the majority of the Stock Units granted. Vesting is immediate in the case of members of the Board.
In some cases, Stock Unit vesting is also subject to the attainment of pre-determined performance metrics and/or the satisfaction of market conditions ("Performance Shares"). At the end of each reporting period, we evaluate the probability that the Performance Shares will vest. We record share-based compensation expense on an accelerated basis over a period of three to four years once granted, based on the grant-date fair value and the probability that the pre-determined performance metrics will be achieved. We use the Monte Carlo method to calculate the grant date fair value of Performance Shares containing a market condition.
A summary of Stock Unit activity under the 2016 Plan for fiscal 2023 is as follows:
SharesWeighted-Average
Grant-Date
Fair Value Per Share
Balance as of January 28, 202315,001,991 $16.27 
Granted12,165,882 $9.35 
Granted, with vesting subject to performance and market conditions3,205,732 $9.61 
Vested(5,444,342)$15.07 
Forfeited(6,106,788)$14.10 
Balance as of February 3, 202418,822,475 $11.72 
A summary of additional information about Stock Units is as follows:
 Fiscal Year
 ($ in millions except per share amounts)
202320222021
Weighted-average fair value per share of Stock Units granted$9.41 $11.92 $31.28 
Fair value of Stock Units vested$82 $83 $62 
The aggregate intrinsic value of unvested Stock Units as of February 3, 2024 was $373 million.
As of February 3, 2024, there was $117 million (before any related tax benefit) of unrecognized share-based compensation expense related to unvested Stock Units, which is expected to be recognized over a weighted-average period of 2.0 years. Total unrecognized share-based compensation expense may be adjusted for future forfeitures as they occur.
Stock Options
We have stock options outstanding under the 2016 Plan. Stock options generally expire the earlier of 10 years from the grant date, three months after employee termination, or one year after the date of an employee’s retirement or death. Vesting generally occurs over a period of four years of continued service by the employee, with 25 percent vesting on each of the four anniversary dates.
There were no stock options issued to employees during fiscal 2023. The fair value of stock options issued to employees during fiscal 2022 and 2021 was estimated on the date of grant using the following assumptions:
 Fiscal Year
 20222021
Expected term (in years)4.64.5
Expected volatility51.7 %56.9 %
Dividend yield4.0 %1.8 %
Risk-free interest rate2.5 %0.6 %
A summary of stock option activity under the 2016 Plan for fiscal 2023 is as follows:
SharesWeighted-
Average
Exercise Price Per Share
Balance as of January 28, 20237,825,433 $20.75 
Granted— $— 
Exercised(900,155)$9.49 
Forfeited/Expired(2,039,560)$23.69 
Balance as of February 3, 20244,885,718 $21.59 
A summary of additional information about stock options is as follows: 
 Fiscal Year
  ($ in millions except per share amounts)
202320222021
Weighted-average fair value per share of stock options granted$— $4.66 $12.35 
Aggregate intrinsic value of stock options exercised$7 $2 $20 
Fair value of stock options vested$6 $13 $13 
Information about stock options outstanding and exercisable as of February 3, 2024 is as follows:
Intrinsic Value as of February 3, 2024
(in millions)		Number of
Shares as of
February 3, 2024		Weighted-
Average
Remaining
Contractual
Life (in years)		Weighted-
Average
Exercise Price Per Share
Options Outstanding $18 4,885,718 4.9$21.59 
Options Exercisable $10 3,805,421 4.3$23.71 
Employee Stock Purchase Plan
Under our Employee Stock Purchase Plan (“ESPP”), eligible U.S. and Canadian employees are able to purchase our common stock at 85 percent of the closing price on the New York Stock Exchange on the last day of the three-month purchase periods. Accordingly, compensation expense is recognized for an amount equal to the 15 percent discount. Employees pay for their stock purchases through payroll deductions at a rate equal to any whole percentage from 1 percent to 15 percent. There were 1,945,332, 2,337,159, and 1,117,669 shares issued under the ESPP in fiscal 2023, 2022 and 2021, respectively. As of February 3, 2024, there were 10,636,532 shares reserved for future issuances under the ESPP.
v3.24.1
Leases
 12 Months Ended
Feb. 03, 2024
Leases [Abstract]  
Lessee, Operating Leases [Text Block] Leases
Net lease cost recognized on our Consolidated Statements of Operations is summarized as follows:
Fiscal Year
($ in millions)20232022
Operating lease cost $823 $825 
Variable lease cost 443 447 
Sublease income— (1)
Net lease cost $1,266 $1,271 
As of February 3, 2024, the maturities of lease liabilities based on the total minimum lease commitment amount including options to extend lease terms that are reasonably certain of being exercised are as follows:
($ in millions)
Fiscal Year
2024$819 
2025770 
2026677 
2027550 
2028470 
Thereafter1,762 
Total minimum lease payments5,048 
Less: Interest(1,095)
Present value of operating lease liabilities3,953 
Less: Current portion of operating lease liabilities(600)
Long-term operating lease liabilities$3,353 
During fiscal 2023, non-cash operating lease asset activity, net of remeasurements and modifications, was $544 million. During fiscal 2022, non-cash operating lease asset activity, net of remeasurements and modifications, was $124 million and includes permanent store closures and the derecognition of leases related to the transition of certain foreign operations to franchise partners. As of February 3, 2024 and January 28, 2023, the minimum lease commitment amount for operating leases signed but not yet commenced, primarily for retail stores, was $62 million and $116 million, respectively. 
As of February 3, 2024 and January 28, 2023, the weighted-average remaining operating lease term was 7.7 years and 8.0 years, respectively, and the weighted-average discount rate was 6.4 percent and 5.6 percent, respectively, for operating leases recognized on our Consolidated Financial Statements.
As of February 3, 2024 and January 28, 2023, the Company's finance leases were not material to our Consolidated Financial Statements.
See Note 1 of Notes to Consolidated Financial Statements for additional disclosures related to leases.
v3.24.1
Employee Benefit Plans
 12 Months Ended
Feb. 03, 2024
Retirement Benefits, Description [Abstract]  
Pension and Other Postretirement Benefits Disclosure [Text Block] Employee Benefit Plans
We have two qualified defined contribution retirement plans, the GapShare 401(k) Plan and the GapShare Puerto Rico Plan (the “GapShare Plans”), which are available to employees who meet the eligibility requirements. The GapShare Plans permit eligible employees to make contributions up to the maximum limits allowable under the applicable Internal Revenue Codes. Under the GapShare Plans, we match, in cash, all or a portion of employees’ contributions under a predetermined formula. Our contributions vest immediately. Our matching contributions to the GapShare Plans were $49 million, $49 million, and $46 million in fiscal 2023, 2022, and 2021, respectively.
We maintain the Gap, Inc. Deferred Compensation Plan, which allows eligible employees to defer base compensation and bonus up to a maximum percentage, and non-employee directors to defer receipt of a portion of their Board fees. Plan investments are directed by participants and are recorded at market value and designated for the DCP. The fair value of the Company’s DCP assets is determined based on quoted market prices, and the assets are recorded within other long-term assets on the Consolidated Balance Sheets. As of February 3, 2024 and January 28, 2023, the assets related to the DCP were $31 million and $34 million, respectively. As of February 3, 2024 and January 28, 2023, the corresponding liabilities related to the DCP were $31 million and $37 million, respectively, and were recorded within other long-term liabilities on the Consolidated Balance Sheets. We match all or a portion of employees’ contributions under a predetermined formula. Plan investments are elected by the participants, and investment returns are not guaranteed by the Company. Our matching contributions to the DCP in fiscal 2023, 2022, and 2021 were not material.
v3.24.1
Earnings Per Share
 12 Months Ended
Feb. 03, 2024
Earnings Per Share [Abstract]  
Earnings Per Share Earnings (Loss) per Share
Weighted-average number of shares used for earnings (loss) per share is as follows:
 Fiscal Year
(shares in millions)202320222021
Weighted-average number of shares—basic370 367 376 
Common stock equivalents (1)6 — 7 
Weighted-average number of shares—diluted376 367 383 
__________
(1)For fiscal 2022, the dilutive impact of outstanding options and awards was excluded from dilutive shares as a result of the Company’s net loss for the period.
The anti-dilutive shares related to stock options and Stock Units excluded from the computation of weighted-average number of shares—diluted were 6 million, 11 million, and 7 million for fiscal 2023, 2022, and 2021, respectively, as their inclusion would have an anti-dilutive effect on earnings (loss) per share.
v3.24.1
Commitments and Contingencies
 12 Months Ended
Feb. 03, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
We are a party to a variety of contractual agreements under which we may be obligated to indemnify the other party for certain matters. These contracts primarily relate to our commercial contracts, operating leases, trademarks, intellectual property, financial agreements, and various other agreements. Under these contracts, we may provide certain routine indemnifications relating to representations and warranties (e.g., ownership of assets, environmental or tax indemnifications), or personal injury matters. The terms of these indemnifications range in duration and may not be explicitly defined. Generally, the maximum obligation under such indemnifications is not explicitly stated, and as a result, the overall amount of these obligations cannot be reasonably estimated. Historically, we have not made significant payments for these indemnifications. We believe that if we were to incur a loss in any of these matters, the loss would not have a material effect on our Consolidated Financial Statements taken as a whole.
As a multinational company, we are subject to various Actions arising in the ordinary course of our business. Many of these Actions raise complex factual and legal issues and are subject to uncertainties. As of February 3, 2024, Actions filed against us included commercial, intellectual property, customer, employment, securities, and data privacy claims, including class action lawsuits. The plaintiffs in some Actions seek unspecified damages or injunctive relief, or both. Actions are in various procedural stages and some are covered in part by insurance. As of February 3, 2024 and January 28, 2023, we recorded a liability for an estimated loss if the outcome of an Action is expected to result in a loss that is considered probable and reasonably estimable. The liability recorded as of February 3, 2024 and January 28, 2023 was not material for any individual Action or in total. Subsequent to February 3, 2024 and through the filing date of March 19, 2024, no information has become available that indicates a change is required that would be material to our Consolidated Financial Statements taken as a whole.
We cannot predict with assurance the outcome of Actions brought against us. Accordingly, developments, settlements, or resolutions may occur and impact income in the quarter of such development, settlement, or resolution. However, we do not believe that the outcome of any current Action would have a material effect on our Consolidated Financial Statements taken as a whole.
v3.24.1
Segment Information
 12 Months Ended
Feb. 03, 2024
Segment Reporting [Abstract]  
Segment Information Segment Information
We identify our operating segments according to how our business activities are managed and evaluated. As of February 3, 2024, our operating segments included: Old Navy Global, Gap Global, Banana Republic Global, and Athleta Global. Each operating segment has a brand president who is responsible for various geographies and channels. Each of our brands serves customer demand through our store and franchise channel and our online channel, leveraging our omni-channel capabilities that allow customers to shop seamlessly across all of our brands. We have determined that each of our operating segments share similar economic and other qualitative characteristics, and therefore the results of our operating segments are aggregated into one reportable segment as of February 3, 2024. We continually monitor and review our segment reporting structure in accordance with authoritative guidance to determine whether any changes have occurred that would impact our reportable segments.
Long-lived assets, excluding long-term deferred tax assets, by geographic location are as follows: 
($ in millions)February 3,
2024		January 28,
2023
U.S. (1)$5,614 $5,726 
Other regions605 672 
Total long-lived assets$6,219 $6,398 
__________
(1)U.S. includes the United States and Puerto Rico.
See Note 3 of Notes to Consolidated Financial Statements for disaggregation of revenue by channel and by brand and region.
v3.24.1
Divestitures
 12 Months Ended
Feb. 03, 2024
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations, Disclosure Divestitures
On April 8, 2021 and May 21, 2021, we completed the divestitures of the Janie and Jack and Intermix brands, respectively. As a result of these transactions, the Company recognized a pre-tax loss of $59 million within operating expenses on the Consolidated Statement of Operations for fiscal 2021.
On October 1, 2021, we completed the transition of our Gap France operations to a third party, Hermione People & Brands, to operate Gap France stores as a franchise partner. The impact upon divestiture was not material to our results of operations for fiscal 2021.
On February 1, 2022, we completed the transition of our Gap Italy operations to a third party, OVS, to operate Gap Italy stores as a franchise partner. On August 10, 2022, we completed the transition of our United Kingdom and Ireland online operations to a franchise partner through a joint venture with Next Plc. The impacts upon divestiture were not material to our results of operations for fiscal 2022.
We sold our distribution center in Rugby, England for $125 million on September 30, 2022. As a result of this transaction, the Company recognized a pre-tax gain on sale of $83 million within operating expenses on the Consolidated Statement of Operations during fiscal 2022.
We completed the transition of our Old Navy Mexico operations to a third party, Grupo Axo, to operate Old Navy Mexico stores as a franchise partner, on August 1, 2022. As a result of this transaction, the Company recognized a pre-tax loss of $35 million within operating expenses on the Consolidated Statement of Operations during fiscal 2022.
On November 7, 2022, we signed agreements to transition our Gap Greater China operations to a third party, Baozun, to operate Gap Greater China stores and the in-market website as a franchise partner, subject to regulatory approvals and closing conditions. As of January 28, 2023, the Company reclassified $142 million of assets and $126 million of liabilities for Gap China as held for sale within other current assets and accrued expenses and other current liabilities, respectively, on the Consolidated Balance Sheet. The aggregate carrying amount of assets classified as held for sale primarily consists of $55 million of net operating lease assets, $35 million of inventory, $26 million of fixed assets, and $20 million of other current assets. The aggregate carrying amount of liabilities classified as held for sale primarily consists of $70 million of operating lease liabilities, $33 million of accounts payable, and $19 million of accrued expenses and other current liabilities. We measured the disposal group at its estimated fair value less costs to sell. On January 31, 2023, the Gap China transaction closed with Baozun. The impact upon divestiture was not material to our results of operations for fiscal 2023. The Gap Taiwan operations will continue to operate as usual until regulatory approvals and closing conditions are met.
v3.24.1
Supply Chain Finance Program
 12 Months Ended
Feb. 03, 2024
Supplier Finance Program Liabilities [Abstract]  
Supplier Finance Program Supply Chain Finance Program
Our voluntary SCF program provides certain suppliers with the opportunity to sell their receivables due from us to participating financial institutions at the sole discretion of both the suppliers and the financial institutions. We are not a party to the agreements between our suppliers and the financial institutions and our payment terms are not impacted by whether a supplier participates in the SCF program.
We may agree to side letters with participating financial institutions related to the SCF program that require us to transfer a certain amount of cash to be used as collateral for our payment obligations in a specified period. These collateral amounts, if applicable, are classified as restricted cash on our Consolidated Balance Sheets. There were no collateral amounts under the SCF program as of February 3, 2024. The collateral amount under the SCF program was $30 million as of January 28, 2023. Additionally, our lenders under the ABL Facility who also participate in the SCF program have their related financings secured pursuant to the terms of the ABL Facility.
The Company's outstanding obligations under the SCF program were $373 million and $316 million as of February 3, 2024 and January 28, 2023, respectively, and were included in accounts payable on the Consolidated Balance Sheets.
v3.24.1
Pay vs Performance Disclosure - USD ($)
$ in Millions
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Pay vs Performance Disclosure      
Net income (loss) $ 502 $ (202) $ 256
v3.24.1
Insider Trading Arrangements
 3 Months Ended
Feb. 03, 2024
shares
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Haio Barbeito [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
On December 8, 2023, Horacio (Haio) Barbeito, President and CEO of Old Navy, adopted a trading plan intended to satisfy the affirmative defense of Rule 10b5-1(c) to sell up to 164,417 shares of Gap Inc. common stock. This figure includes an estimate of the number of shares to be acquired in the future under our ESPP; however, the actual number of shares acquired through the ESPP may vary. Unless otherwise terminated pursuant to its terms, the plan will terminate on December 6, 2024, or when all shares under the plan are sold.
Name Horacio (Haio) Barbeito
Title President and CEO of Old Navy
Rule 10b5-1 Arrangement Adopted true
Adoption Date December 8, 2023
Aggregate Available 164,417
Mark Breitbard [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
On December 4, 2023, Mark Breitbard, President and CEO of Gap brand, adopted a trading plan intended to satisfy the affirmative defense of Rule 10b5-1(c) to sell up to 171,160 shares of Gap Inc. common stock. Unless otherwise terminated pursuant to its terms, the plan will terminate on December 4, 2024, or when all shares under the plan are sold.
Name Mark Breitbard
Title President and CEO of Gap brand
Rule 10b5-1 Arrangement Adopted true
Adoption Date December 4, 2023
Aggregate Available 171,160
v3.24.1
Organization and Summary of Significant Accounting Policies Significant Accounting Policies (Policies)
 12 Months Ended
Feb. 03, 2024
Accounting Policies [Abstract]  
Organization
Organization
The Gap, Inc., a Delaware corporation, is a collection of lifestyle brands offering apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, and Athleta brands. As of February 3, 2024, we had Company-operated stores in the United States, Canada, Japan, and Taiwan. Our products are available to customers online through Company-owned websites and through third-party arrangements. We also have franchise agreements to operate Old Navy, Gap, Banana Republic, and Athleta throughout Asia, Europe, Latin America, the Middle East, and Africa.
In fiscal 2023, we signed agreements to transition our Gap Greater China operations to a third party, Baozun, to operate Gap Greater China stores and the in-market website as a franchise partner. On January 31, 2023, the Gap China transaction closed with Baozun. The Gap Taiwan operations will continue to operate as usual until regulatory approvals and closing conditions are met.
Principles of Consolidation
Principles of Consolidation
The Consolidated Financial Statements include the accounts of The Gap, Inc. and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated.
Fiscal Year and Presentation
Fiscal Year and Presentation
Our fiscal year is a 52-week or 53-week period ending on the Saturday closest to January 31. The fiscal year ended February 3, 2024 (fiscal 2023) consisted of 53 weeks. The fiscal years ended January 28, 2023 (fiscal 2022) and January 29, 2022 (fiscal 2021) consisted of 52 weeks.
Use of Estimates
Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from these estimates. Additionally, these estimates and assumptions may change as a result of the impact of global economic conditions such as the uncertainty regarding global inflationary pressures, acts of terrorism or war, global credit and banking markets, and new legislation. We will continue to consider the impact of the global economic conditions on the assumptions and estimates used when preparing these Consolidated Financial Statements. Examples include, but are not limited to, assumptions and estimates used for inventory valuation, income taxes and valuation allowances, sales return and bad debt allowances, deferred revenue, and the impairment of long-lived assets. If the global economic conditions change beyond what is currently estimated by management, such future changes may have an adverse impact on the Company's results of operations and financial position.
Cash and Cash Equivalents
Cash and Cash Equivalents
Cash includes funds deposited in banks and amounts in transit from banks for customer credit card and debit card transactions that process in less than seven days.
All highly liquid investments with original maturities of three months or less at the time of purchase are classified as cash equivalents. We value these investments at their original purchase prices plus interest that has accrued at the stated rate. Our cash equivalents are placed in time deposits. Income related to these securities is recorded within interest income on the Consolidated Statements of Operations.
Restricted Cash
Any cash that is legally restricted from use is classified as restricted cash. If the purpose of restricted cash is related to acquiring a long-term asset, liquidating a long-term liability, or is otherwise unavailable for a period longer than one year from the balance sheet date, the restricted cash is included within other long-term assets on our Consolidated Balance Sheets. Otherwise, restricted cash is included within other current assets on our Consolidated Balance Sheets.
As of February 3, 2024, January 28, 2023, and January 29, 2022, restricted cash primarily includes consideration that serves as collateral for our insurance obligations and certain other obligations occurring in the normal course of business. As of January 28, 2023, restricted cash also included a collateral amount under the SCF program of $30 million. See Note 18 of Notes to Consolidated Financial Statements for related disclosures.
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported on our Consolidated Balance Sheets to the total shown on our Consolidated Statements of Cash Flows:
($ in millions)February 3,
2024		January 28,
2023		January 29,
2022
Cash and cash equivalents$1,873 $1,215 $877 
Restricted cash included in other current assets— 32 — 
Restricted cash included in other long-term assets28 26 25 
Total cash, cash equivalents, and restricted cash shown on the Consolidated Statement of Cash Flows$1,901 $1,273 $902 
Merchandise Inventory
Merchandise Inventory
We value inventory at the LCNRV, with cost determined using the weighted-average cost method. We record an adjustment to inventory when future estimated selling price is less than cost. We review our inventory levels in order to identify slow-moving merchandise and broken assortments (items no longer in stock in a sufficient range of sizes or colors) and we primarily use promotions and markdowns to clear merchandise. In addition, we estimate and accrue shortage for the period between the last physical count and the balance sheet date.
Property and Equipment
Property and Equipment
Depreciation is computed using the straight-line method over the estimated useful lives of the related assets. Estimated useful lives are as follows:
CategoryTerm
Leasehold improvements
Shorter of remaining lease term or economic life, up to 15 years
Furniture and equipment
Up to 10 years
Software
Up to 7 years
Buildings and building improvements
Up to 39 years
When assets are sold or retired, the cost and related accumulated depreciation are removed from the accounts, with any resulting gain or loss recorded within operating expenses on the Consolidated Statements of Operations. Costs of maintenance and repairs are expensed as incurred. Costs incurred to implement cloud computing arrangements hosted by third-party vendors are capitalized when incurred during the application development phase and amortized on a straight-line basis over the contractual term, plus any reasonably certain renewal periods, of the cloud computing arrangement. Capitalized amounts related to such arrangements are recorded within other current assets and other long-term assets on our Consolidated Balance Sheets and were not material for fiscal 2023, 2022, or 2021.
Lessee, Leases
Leases
We determine if a long-term contractual obligation is a lease at inception. The majority of our operating leases relate to Company stores. We also lease some of our corporate facilities and distribution centers. These operating leases expire at various dates through fiscal 2047. Most store leases have a five-year base period and include options that allow us to extend the lease term beyond the initial base period, subject to terms agreed upon at lease inception. Some leases also include early termination options, which can be exercised under specific conditions. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.
We record our lease liabilities at the present value of the lease payments not yet paid, discounted at the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term. As the Company's leases do not provide an implicit interest rate, the Company uses an incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments.
We recognize operating lease cost over the estimated term of the lease, which includes options to extend lease terms that are reasonably certain of being exercised, starting when possession of the property is taken from the landlord, which normally includes a construction period prior to the store opening. When a lease contains a predetermined fixed escalation of the fixed rent, we recognize the related operating lease cost on a straight-line basis over the lease term. In addition, certain of our lease agreements include variable lease payments, such as payments based on a percentage of sales that are in excess of a predetermined level and/or increases based on a change in the consumer price index or fair market value. These variable lease payments are excluded from minimum lease payments and are included in the determination of net lease cost when it is probable that the expense has been incurred and the amount can be reasonably estimated. If an operating lease asset is impaired, the remaining operating lease asset will be amortized on a straight-line basis over the remaining lease term.
Revenue Recognition
Revenue Recognition
The Company’s revenues primarily include merchandise sales at stores, online, and through franchise and licensing agreements. We also receive revenue sharing from our credit card agreement for private label and co-branded credit cards, and breakage revenue related to our gift cards, merchandise return cards, and outstanding loyalty points, which are realized based upon historical redemption patterns. For online sales, the Company has elected to treat shipping and handling as fulfillment activities and not a separate performance obligation. Accordingly, we recognize revenue for our single performance obligation related to online sales at the time control of the merchandise passes to the customer, which is generally at the time of shipment. Revenues are presented net of any taxes collected from customers and remitted to governmental authorities.
We record sales return allowances and a right of returns asset on a gross basis for expected future merchandise returns, based on historical return patterns, merchandise mix, and recent trends. Sales return allowances are recorded within accrued expenses and other current liabilities and the right of returns asset is recorded within other current assets on our Consolidated Balance Sheets.
We have credit card agreements with third parties to provide our customers with private label credit cards and co-branded credit cards (collectively, the “Credit Card programs"). Each private label credit card bears the logo of Gap, Banana Republic, Old Navy, or Athleta and can be used at any of our U.S. store locations and online. The current co-branded credit card is a MasterCard credit card bearing the logo of Gap, Banana Republic, Old Navy, or Athleta and can be used everywhere MasterCard credit cards are accepted. The Credit Card programs are a part of Gap Inc.’s loyalty program where members enjoy incentives in the form of rewards which can be redeemed across all of our brands.
During fiscal 2022, the Company launched a new long-term credit card program with Barclays that replaced our prior credit card program with Synchrony Financial. Barclays, a third-party financial institution, is the sole owner of the accounts and underwrites the credit issued under the Credit Card programs. Our agreement with Barclays provides for certain payments to be made to us, including a share of revenue from the performance of the credit card portfolios and reimbursements of loyalty program discounts. We have identified separate performance obligations related to our credit card agreement that includes both providing a license and an obligation to redeem loyalty points issued under the loyalty rewards program. Our obligation to provide a license is satisfied when the subsequent sale or usage occurs and our obligation to redeem loyalty points is deferred until those loyalty points are redeemed. Income related to our credit card agreement is classified within net sales on our Consolidated Statements of Operations. In conjunction with entering into our agreement with Barclays, the Company also entered into a corresponding agreement with MasterCard for co-branded cards that replaced our prior agreement with Visa.
We have franchise agreements to operate Old Navy, Gap, Banana Republic, and Athleta throughout Asia, Europe, Latin America, the Middle East, and Africa. Under these agreements, third parties operate, or will operate, stores and websites that sell apparel and related products under our brand names. We have identified separate performance obligations related to our franchise agreements that include both providing our franchise partners with a license and an obligation to supply franchise partners with our merchandise. Our obligation to provide a license is satisfied when the subsequent sale or usage occurs and our obligation to supply franchise partners with our merchandise is satisfied when control of the merchandise transfers. We also have licensing agreements with licensees to sell products using our brand names.
We defer revenue when cash payments are received in advance of performance for unsatisfied obligations related to our gift cards, licensing agreements, outstanding loyalty points, and reimbursements of loyalty program discounts associated with our credit card agreement.
Classification of Expenses
Classification of Expenses
Cost of goods sold and occupancy expenses include the following:
•the cost of merchandise;
•inventory shortage and valuation adjustments;
•freight charges;
•online shipping and packaging costs;
•cost associated with our sourcing operations, including payroll, benefits, and other administrative expenses;
•lease and other occupancy related cost, depreciation, and amortization related to our store operations, distribution centers, information technology, and certain corporate functions; and
•gains and losses associated with foreign currency derivative contracts used to hedge forecasted merchandise purchases and related costs denominated in U.S. dollars made by our international subsidiaries whose functional currencies are their local currencies.
Operating expenses include the following:
•payroll, benefits, and other administrative expenses for our store operations, field management, and distribution centers;
•payroll, benefits, and other administrative expenses for our corporate functions, including product design and development;
•advertising expenses;
•information technology expenses and maintenance costs;
•lease and other occupancy related cost, depreciation, and amortization for our corporate facilities;
•research and development expenses;
•gains and losses associated with foreign currency derivative contracts not designated as hedging instruments;
•third-party credit card processing fees; and
•other expenses (income).
Payroll, benefits, and other administrative expenses for our distribution centers recorded within operating expenses were $320 million, $386 million, and $379 million in fiscal 2023, 2022, and 2021, respectively. Research and development costs described in Accounting Standards Codification ("ASC") No. 730 are expensed as incurred. These costs primarily consist of payroll and related benefits attributable to time spent on research and development activities for new innovative products and technological improvements for existing products and process innovation. Research and development expenses recorded within operating expenses under ASC 730 were $37 million, $46 million, and $41 million in fiscal 2023, 2022, and 2021, respectively.
The classification of expenses varies across the apparel retail industry. Accordingly, our cost of goods sold and occupancy expenses and operating expenses may not be comparable to those of other companies.
Impairment of Long-Lived Assets
Impairment of Long-Lived Assets
We review the carrying amount of long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Events that result in an impairment review include a significant decrease in the operating performance of the long-lived asset, the decision to close a store, corporate facility, or distribution center or adverse changes in business climate. Long-lived assets are considered impaired if the carrying amount exceeds the estimated undiscounted future cash flows of the asset or asset group over the estimated remaining life. The asset group is defined as the lowest level for which identifiable cash flows are available and largely independent of the cash flows of other groups of assets, which for our retail stores is generally at the store level. The asset group for retail stores is comprised of both property and equipment and operating lease assets. For impaired assets, we recognize a loss equal to the difference between the carrying amount of the asset or asset group and its estimated fair value, which is recorded within operating expenses on the Consolidated Statements of Operations. The estimated fair value of the asset or asset group is based on discounted future cash flows of the asset or asset group using a discount rate commensurate with the related risk. For operating lease assets, the Company determines the estimated fair value of the assets by discounting the estimated market rental rates using available valuation techniques.
Goodwill and Intangible Assets
Impairment of Goodwill and Intangible Assets
We review the carrying amount of goodwill and other indefinite-lived intangible assets for impairment annually in the fourth quarter of the fiscal year and whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Events that result in an impairment review include significant changes in the business climate, declines in our operating results, or an expectation that the carrying amount may not be recoverable. We assess potential impairment by considering present economic conditions as well as future expectations. If goodwill is considered impaired, we recognize a loss equal to the difference between the carrying amount and the estimated fair value of the reporting unit.
A trade name is considered impaired if the carrying amount exceeds its estimated fair value. If a trade name is considered impaired, we recognize a loss equal to the difference between the carrying amount and the estimated fair value of the trade name. The fair value of a trade name is determined using the relief from royalty method, which requires management to make assumptions and to apply judgment, including forecasting future sales, and selecting appropriate discount rates and royalty rates.
Goodwill and other indefinite-lived intangible assets, including the trade names, are recorded within other long-term assets on the Consolidated Balance Sheets.
Advertising
Advertising
Costs associated with the production of advertising, such as writing, copy, printing, and other costs, are expensed as incurred. Costs associated with communicating advertising that has been produced, such as television, magazine costs, and digital and social media, are expensed when the advertising event takes place or is made available. Advertising expense was $882 million, $1,039 million, and $1,115 million in fiscal 2023, 2022, and 2021, respectively, and is recorded within operating expenses on the Consolidated Statements of Operations.
Share-Based Compensation
Share-Based Compensation
Share-based compensation expense for stock options and other stock awards is determined based on the grant-date fair value. We use the Black-Scholes-Merton option-pricing model to determine the fair value of stock options, which requires the input of subjective assumptions regarding the expected term, expected volatility, dividend yield, and risk-free interest rate. There were no stock options issued to employees during fiscal 2023. For units granted, whereby shares of common stock are issued for units as they vest (“Stock Units”), the fair value is determined either based on the Company’s stock price on the date of grant less future expected dividends during the vesting period or a Monte Carlo method for certain Stock Units granted with a market condition. For stock options and Stock Units, we recognize share-based compensation cost over the vesting period. We account for forfeitures as they occur. Share-based compensation expense is recorded primarily within operating expenses on the Consolidated Statements of Operations.
Foreign Currency
Foreign Currency
Our international subsidiaries primarily use local currencies as their functional currency and translate their assets and liabilities at the current rate of exchange in effect at the balance sheet date. Revenue and expenses from their operations are translated using rates that approximate those in effect during the period in which the transactions occur. The resulting gains and losses from translation are recorded on the Consolidated Statements of Comprehensive Income (Loss) and in accumulated other comprehensive income ("OCI") on the Consolidated Statements of Stockholders’ Equity. Transaction gains and losses resulting from intercompany balances of a long-term investment nature are also classified as accumulated OCI. Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the local functional currency are recorded within operating expenses on the Consolidated Statements of Operations.
The aggregate transaction gains and losses recorded within operating expenses on the Consolidated Statements of Operations are as follows:
 Fiscal Year
($ in millions)202320222021
Foreign currency transaction loss
$(9)$(59)$(18)
Realized and unrealized gain from certain derivative financial instruments
11 57 18 
Net foreign exchange gain (loss)$2 $(2)$— 
Income Taxes
Income Taxes
Deferred income taxes are recorded for temporary differences between the tax basis of assets and liabilities and their reported amounts on the Consolidated Financial Statements. Valuation allowances are established against deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will not be realized.
Our income tax expense includes changes in our estimated liability for exposures associated with our various tax filing positions. At any point in time, many tax years are subject to or in the process of being audited by various taxing authorities. To the extent our estimates of settlements change or the final tax outcome of these matters is different from the amounts recorded, such differences will impact the income tax provision in the period in which such determinations are made.
The Company recognizes interest related to unrecognized tax benefits in interest expense and penalties related to unrecognized tax benefits in operating expenses on the Consolidated Statements of Operations.
The Company has made an accounting policy election to treat taxes due on the global intangible low-taxed income (“GILTI”) of foreign subsidiaries as a current period expense.
Earnings Per Share
Earnings per Share
Basic earnings per share is computed as net income (loss) divided by basic weighted-average number of common shares outstanding for the period. Diluted earnings per share is computed as net income divided by diluted weighted-average number of common shares outstanding for the period including common stock equivalents. During periods of net loss, the dilutive impact of outstanding options and awards is excluded from dilutive shares. Common stock equivalents consist of shares subject to share-based awards with exercise prices less than the average market price of our common stock for the period, to the extent their inclusion would be dilutive. Stock options and other stock awards that contain performance conditions are not included in the calculation of common stock equivalents until such performance conditions have been achieved.
Recent Accounting Pronouncements
Recent Accounting Pronouncements
Except as noted below, the Company has considered all recent accounting pronouncements and concluded that there are no recent accounting pronouncements that may have a material impact on our Consolidated Financial Statements and disclosures, based on current information.
Accounting Pronouncement Recently Adopted
ASU No. 2022-04, Disclosure of Supplier Finance Program Obligations
In September 2022, the Financial Accounting Standards Board ("FASB") issued accounting standards update ("ASU") No. 2022-04, Disclosure of Supplier Finance Program Obligations. The ASU is intended to enhance the transparency of the use of supplier finance programs by requiring additional disclosures about the program’s nature and potential magnitude, including a rollforward of the obligations and activity during the period. The ASU is effective retrospectively for fiscal years and interim periods within those years beginning after December 15, 2022, except for the amendment on rollforward information, which is effective prospectively for fiscal years beginning after December 15, 2023. The ASU does not affect the recognition, measurement, or financial statement presentation of supplier finance program obligations. We adopted this ASU on January 29, 2023. See Note 18 of Notes to Consolidated Financial Statements for information regarding our supply chain finance program.
Accounting Pronouncements Not Yet Adopted
ASU No. 2023-07, Improvements to Reportable Segment Disclosures
In November 2023, the FASB issued ASU No. 2023-07, Improvements to Reportable Segment Disclosures. The ASU is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The ASU is effective retrospectively for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024. We are currently assessing the impact that this ASU will have on our Consolidated Financial Statements and related disclosures.
ASU No. 2023-09, Improvements to Income Tax Disclosures
In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures. The ASU is intended to improve the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the rate reconciliation, as well as income taxes paid disaggregated by jurisdiction. The ASU is effective for annual periods beginning after December 15, 2024 and should be applied on a prospective basis, but retrospective application is permitted. We are currently assessing the impact that this ASU will have on our Consolidated Financial Statements and related disclosures.
Global Anti-Base Erosion Model Rules ("Pillar Two")
The Organization for Economic Co-operation and Development ("OECD") has introduced a new global minimum corporate tax of 15%, commonly referred to as Pillar Two. While the U.S. has not yet adopted the Pillar Two rules, various other governments around the world are enacting legislation which is effective beginning in fiscal 2024. These rules are not expected to materially impact the Company’s Consolidated Financial Statements, considering the Company does not have material operations in jurisdictions with tax rates substantially lower than the Pillar Two minimum. The Company will continue to monitor U.S. and global legislative action related to Pillar Two for potential impacts.
v3.24.1
Organization and Summary of Significant Accounting Policies Organization and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Feb. 03, 2024
New Accounting Pronouncements or Change in Accounting Principle [Line Items]  
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported on our Consolidated Balance Sheets to the total shown on our Consolidated Statements of Cash Flows:
($ in millions)February 3,
2024		January 28,
2023		January 29,
2022
Cash and cash equivalents$1,873 $1,215 $877 
Restricted cash included in other current assets— 32 — 
Restricted cash included in other long-term assets28 26 25 
Total cash, cash equivalents, and restricted cash shown on the Consolidated Statement of Cash Flows$1,901 $1,273 $902 
Schedule of estimated property and equipment useful lives
Depreciation is computed using the straight-line method over the estimated useful lives of the related assets. Estimated useful lives are as follows:
CategoryTerm
Leasehold improvements
Shorter of remaining lease term or economic life, up to 15 years
Furniture and equipment
Up to 10 years
Software
Up to 7 years
Buildings and building improvements
Up to 39 years
Foreign Currency Disclosure [Text Block]
The aggregate transaction gains and losses recorded within operating expenses on the Consolidated Statements of Operations are as follows:
 Fiscal Year
($ in millions)202320222021
Foreign currency transaction loss
$(9)$(59)$(18)
Realized and unrealized gain from certain derivative financial instruments
11 57 18 
Net foreign exchange gain (loss)$2 $(2)$— 
v3.24.1
Additional Financial Statement Information Additional Financial Statement Information (Tables)
 12 Months Ended
Feb. 03, 2024
Additional Financial Statement Information [Abstract]  
Cash and Cash Equivalents [Table Text Block]
Cash and cash equivalents consist of the following:
($ in millions)February 3,
2024		January 28,
2023
Cash (1)$1,872 $1,200 
Time deposits
1 15 
Cash and cash equivalents$1,873 $1,215 
__________
(1)Cash includes $76 million and $60 million of amounts in transit from banks for customer credit card and debit card transactions as of February 3, 2024 and January 28, 2023, respectively.
Other Current Assets [Table Text Block]
Other current assets consist of the following:
($ in millions)February 3,
2024		January 28,
2023
Accounts receivable
$289 $340 
Prepaid income taxes and income taxes receivable
36 150 
Prepaid minimum rent and occupancy expenses
31 106 
Right of returns asset
28 46 
Derivative financial instruments7 11 
Assets held for sale (1)
— 172 
Other136 188 
Other current assets$527 $1,013 
__________
(1)The Company reclassifies certain assets and liabilities as held for sale that are expected to be sold within the next twelve months. As of January 28, 2023, the aggregate carrying amount of assets held for sale consisted of $142 million related to agreements to transition our Gap Greater China operations to Baozun and $30 million related to an agreement for the sale of a building. See Note 17 of Notes to Consolidated Financial Statements for related disclosures of the transition of our Gap Greater China operations to Baozun.
Property, Plant and Equipment [Table Text Block]
Property and equipment are stated at cost less accumulated depreciation and consist of the following:
($ in millions)February 3,
2024		January 28,
2023
Furniture and equipment$2,805 $2,833 
Leasehold improvements2,197 2,270 
Land, buildings, and building improvements1,140 1,103 
Software1,121 1,142 
Construction-in-progress177 177 
Property and equipment, at cost7,440 7,525 
Less: Accumulated depreciation(4,874)(4,837)
Property and equipment, net of accumulated depreciation$2,566 $2,688 
Schedule of Other Assets, Noncurrent [Table Text Block]
Other long-term assets consist of the following:
($ in millions)February 3,
2024		January 28,
2023
Long-term income tax-related assets$561 $480 
Goodwill207 207 
Trade names54 54 
Intangible assets subject to amortization, net of accumulated amortization18 27 
Other128 140 
Other long-term assets$968 $908 
Schedule of Accrued Liabilities [Table Text Block]
Accrued expenses and other current liabilities consist of the following:
($ in millions)February 3,
2024		January 28,
2023
Accrued compensation and benefits394 243 
Deferred revenue
337 354 
Sales return allowances
62 84 
Accrued advertising40 44 
Accrued interest21 22 
Derivative financial instruments8 20 
Liabilities held for sale (1)
— 126 
Other246 326 
Accrued expenses and other current liabilities$1,108 $1,219 
__________
(1)The Company reclassifies certain assets and liabilities as held for sale that are expected to be sold within the next twelve months. See Note 17 of Notes to Consolidated Financial Statements for related disclosures.
Other Long Term Liabilities [Table Text Block]
Other long-term liabilities consist of the following:
($ in millions)February 3,
2024		January 28,
2023
Long-term income tax-related liabilities$319 $327 
Long-term asset retirement obligations (1)28 38 
Long-term deferred rent and tenant allowances
23 27 
Other142 152 
Other long-term liabilities$512 $544 
__________
(1)The net activity related to asset retirement obligations includes adjustments to the asset retirement obligation balance and fluctuations in foreign currency exchange rates.
v3.24.1
Revenue from Contract with Customer (Tables)
 12 Months Ended
Feb. 03, 2024
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
Net sales disaggregated by channel for fiscal 2023, 2022, and 2021 are as follows:
Fiscal Year
($ in millions)202320222021
Store and franchise sales
$9,346 $9,651 $10,239 
Online sales (1)
5,543 5,965 6,431 
Total net sales$14,889 $15,616 $16,670 
__________
(1)Online sales primarily include sales originating from our online channel including those that are picked up or shipped from stores and net sales from revenue-generating strategic initiatives.
Net Sales by Brand and Region
Net sales disaggregated by brand and region are as follows:
($ in millions)Old Navy GlobalGap GlobalBanana
Republic Global		Athleta Global
Other (3)
Total
Fiscal 2023 (1)
U.S. (2)$7,460 $2,470 $1,681 $1,310 $46 $12,967 
Canada674 332 170 45 — 1,221 
Other regions
69 539 88 5 — 701 
Total $8,203 $3,341 $1,939 $1,360 $46 $14,889 
($ in millions) Old Navy GlobalGap GlobalBanana
Republic Global		Athleta Global
Other (3)
Total
Fiscal 2022
U.S. (2)$7,471 $2,461 $1,829 $1,428 $12 $13,201 
Canada679 332 192 33 — 1,236 
Other regions
84 981 95 19 — 1,179 
Total $8,234 $3,774 $2,116 $1,480 $12 $15,616 
($ in millions) Old Navy GlobalGap GlobalBanana
Republic Global 		Athleta Global
Other (4)
Total
Fiscal 2021
U.S. (2)$8,272 $2,608 $1,703 $1,432 $102 $14,117 
Canada713 349 178 12 — 1,252 
Other regions
97 1,106 95 3 — 1,301 
Total $9,082 $4,063 $1,976 $1,447 $102 $16,670 
__________
(1)Fiscal 2023 includes incremental sales attributable to the 53rd week.
(2)U.S. includes the United States and Puerto Rico.
(3)Primarily consists of net sales from revenue-generating strategic initiatives.
(4)Primarily consists of net sales for the Intermix and Janie and Jack brands, as well as other revenue-generating strategic initiatives. The divestiture of Janie and Jack was completed on April 8, 2021. The divestiture of Intermix was completed on May 21, 2021.
v3.24.1
Restructuring and Related Activities (Tables)
 12 Months Ended
Feb. 03, 2024
Restructuring and Related Activities [Abstract]  
Restructuring and Related Costs [Table Text Block] The costs incurred in connection with the Plan are as follows:
Fiscal 2023
($ in millions)Cost of goods sold and occupancy expensesOperating expensesTotal Costs
Employee-related costs
$4 $60 $64 
Consulting and other associated costs
— 29 29 
Total restructuring costs$4 $89 $93 
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]
The following table summarizes restructuring costs that will be settled with cash payments and the related liability balances as of February 3, 2024, which are included in accrued expenses and other current liabilities on the Consolidated Balance Sheet:
($ in millions)
Employee-Related Costs
Consulting and Other Associated Costs
Total
Balance at January 28, 2023$— $— $— 
53 Weeks Ended February 3, 2024
Provision65 29 94 
Adjustments(1)— (1)
Cash payments(59)(29)(88)
Balance at February 3, 2024$5 $— $5 
v3.24.1
Income Taxes (Tables)
 12 Months Ended
Feb. 03, 2024
Income Tax Disclosure [Abstract]  
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]
For financial reporting purposes, components of income (loss) before income taxes are as follows:
 Fiscal Year
($ in millions)202320222021
United States$463 $(280)$217 
Foreign93 141 106 
Income (loss) before income taxes$556 $(139)$323 
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
The tax expense for income taxes consists of the following:
 Fiscal Year
($ in millions)202320222021
Current:
Federal$63 $(35)$46 
State12 6 38 
Foreign43 50 44 
Total current118 21 128 
Deferred:
Federal(40)24 (50)
State(6)15 (23)
Foreign(18)3 12 
Total deferred(64)42 (61)
Total tax expense$54 $63 $67 
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
The difference between the effective tax rate and the U.S. federal statutory tax rate is as follows:
 Fiscal Year
 202320222021
Federal statutory tax rate21.0 %21.0 %21.0 %
State and local income taxes, net of federal benefit2.5 (13.7)5.3 
Tax impact of foreign operations(0.7)(28.1)(2.5)
Impact of the CARES Act of 2020— — (5.6)
Valuation allowances (1)(11.0)(3.6)7.4 
Impact of divestiture activity(1.6)(21.6)(6.4)
Other(0.5)0.7 1.5 
Effective tax rate9.7 %(45.3)%20.7 %
__________
(1)Beginning in fiscal 2022, we have made a change for all periods presented to separately disclose valuation allowances as its own line item. Previously, the impact of valuation allowances was grouped within various line items in fiscal 2021.
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
Deferred tax assets (liabilities) consist of the following:
($ in millions)February 3,
2024		January 28,
2023
Gross deferred tax assets:
Operating lease liabilities$1,021 $1,126 
Accrued payroll and related benefits86 44 
Accruals176 180 
Inventory capitalization and other adjustments75 93 
Deferred income53 51 
Federal, state, and foreign net operating losses197 290 
Other22 95 
Total gross deferred tax assets1,630 1,879 
Valuation allowances(233)(369)
Total deferred tax assets, net of valuation allowances1,397 1,510 
Deferred tax liabilities:
Depreciation and amortization(154)(246)
Operating lease assets(802)(881)
Other(11)(12)
Total deferred tax liabilities(967)(1,139)
Net deferred tax assets$430 $371 
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]
The activity related to our unrecognized tax benefits is as follows: 
 Fiscal Year
($ in millions)202320222021
Balance at beginning of fiscal year$344 $359 $340 
Increases related to current year tax positions12 11 26 
Prior year tax positions:
Increases21 1 7 
Decreases(30)(24)(9)
Lapse of Statute of Limitations(1)— (1)
Cash settlements(3)(2)(2)
Foreign currency translation— (1)(2)
Balance at end of fiscal year$343 $344 $359 
v3.24.1
Goodwill and Trade Names (Tables)
 12 Months Ended
Feb. 03, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets and Goodwill [Table Text Block]
The following goodwill and other intangible assets are included in other long-term assets on the Consolidated Balance Sheets:
($ in millions)February 3,
2024		January 28,
2023
Goodwill$207 $207 
Trade names$54 $54 
Intangible assets subject to amortization $54 $54 
Less: Accumulated amortization(36)(27)
Intangible assets subject to amortization, net$18 $27 
v3.24.1
Long-Term Debt (Tables)
 12 Months Ended
Feb. 03, 2024
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
Long-term debt recorded on the Consolidated Balance Sheets consists of the following:
($ in millions)February 3,
2024		January 28,
2023
   2029 Notes$750 $750 
   2031 Notes750 750 
Less: Unamortized debt issuance costs(12)(14)
Total long-term debt$1,488 $1,486 
Schedule of Maturities of Long-term Debt
The scheduled maturity of the Senior Notes is as follows:
($ in millions)PrincipalInterest RateInterest Payments
October 1, 2029 (1)$750 3.625%Semi-Annual
October 1, 2031 (2)750 3.875%Semi-Annual
Total issuance$1,500 
__________
(1)Includes an option to redeem the 2029 Notes, in whole or in part at any time, subject to a make-whole premium, prior to October 1, 2024. On or after October 1, 2024, includes an option to redeem the 2029 Notes, in whole or in part at any time, at stated redemption prices.
(2)Includes an option to redeem the 2031 Notes, in whole or in part at any time, subject to a make-whole premium, prior to October 1, 2026. On or after October 1, 2026, includes an option to redeem the 2031 Notes, in whole or in part at any time, at stated redemption prices.
v3.24.1
Fair Value Measurements (Tables)
 12 Months Ended
Feb. 03, 2024
Fair Value Disclosures [Abstract]  
Financial Assets And Liabilities Measured At Fair Value On Recurring Basis
Financial assets and liabilities measured at fair value on a recurring basis and cash equivalents held at amortized cost are as follows:
  
 Fair Value Measurements at Reporting Date Using
($ in millions)February 3,
2024		Quoted Prices in
Active Markets for
Identical Assets
(Level 1)		Significant Other
Observable Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Assets:
Cash equivalents$1 $— $1 $— 
Derivative financial instruments7 — 7 — 
Deferred compensation plan assets31 31 — — 
Other assets4 — — 4 
Total$43 $31 $8 $4 
Liabilities:
Derivative financial instruments$8 $— $8 $— 
  
 Fair Value Measurements at Reporting Date Using
($ in millions)January 28,
2023		Quoted Prices in
Active Markets for
Identical Assets
(Level 1)		Significant Other
Observable Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Assets:
Cash equivalents$15 $— $15 $— 
Derivative financial instruments11 — 11 — 
Deferred compensation plan assets34 34 — — 
Other assets 4 — — 4 
Total$64 $34 $26 $4 
Liabilities:
Derivative financial instruments$20 $— $20 $— 
Long Lived Assets Impairment [Table Text Block]
We recorded the following long-lived asset impairment charges in operating expenses on the Consolidated Statements of Operations:
Fiscal Year
($ in millions)202320222021
Operating lease assets (1)$4 $33 $8 
Store assets (2)3 18 1 
Total impairment charges of long-lived assets$7 $51 $9 
__________
(1)The impairment charge reduced the then carrying amount of the applicable operating lease assets of $51 million, $248 million, and $24 million to their fair value of $47 million, $215 million, and $16 million during fiscal 2023, 2022, and 2021, respectively.
(2)The impairment charge reduced the then carrying amount of the applicable store assets of $4 million, $21 million, and $1 million to their fair value of $1 million, $3 million, and zero during fiscal 2023, 2022, and 2021, respectively.
v3.24.1
Derivative Financial Instruments (Tables)
 12 Months Ended
Feb. 03, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Foreign Exchange Forward Contracts Outstanding
As of February 3, 2024 and January 28, 2023, we had foreign exchange forward contracts outstanding in the following notional amounts:
($ in millions)February 3,
2024		January 28,
2023
Derivatives designated as cash flow hedges$381 $441 
Derivatives not designated as hedging instruments568 645 
Total$949 $1,086 
Fair Values of Asset and Liability Derivative Financial Instruments
The fair values of foreign exchange forward contracts are as follows:
($ in millions)February 3,
2024		January 28,
2023
Derivatives designated as cash flow hedges:
Other current assets$6 $9 
Accrued expenses and other current liabilities2 5 
Derivatives not designated as hedging instruments:
Other current assets1 2 
Accrued expenses and other current liabilities6 15 
Total derivatives in an asset position$7 $11 
Total derivatives in a liability position$8 $20 
Effects of Derivative Financial Instruments on OCI and Consolidated Statements of Income
The pre-tax amounts recognized in net income (loss) related to derivative instruments are as follows:
Location and Amount of (Gain) Loss Recognized in Net Income (Loss)
Fiscal Year 2023Fiscal Year 2022Fiscal Year 2021
($ in millions)Cost of goods sold and occupancy expensesOperating expensesCost of goods sold and occupancy expensesOperating expensesCost of goods sold and occupancy expensesOperating expenses
Total amount of expense line items presented on the Consolidated Statements of Operations in which the effects of derivatives are recorded$9,114 $5,215 $10,257 $5,428 $10,033 $5,827 
(Gain) loss recognized in net income (loss):
Derivatives designated as cash flow hedges $(18)$— $(33)$— $15 $— 
Derivatives not designated as hedging instruments— (11)— (57)— (18)
Total (gain) loss recognized in net income (loss)$(18)$(11)$(33)$(57)$15 $(18)
v3.24.1
Common Stock (Share Repurchases) (Tables)
 12 Months Ended
Feb. 03, 2024
Common Stock, Number of Shares, Par Value and Other Disclosure [Abstract]  
Share Repurchase Activity
Share repurchase activity is as follows:
  
Fiscal Year
($ and shares in millions except average per share cost)202320222021
Number of shares repurchased (1)— 11 9 
Total cost$— $123 $201 
Average per share cost including commissions$— $11.59 $23.47 
__________
(1)Excludes shares withheld to settle employee statutory tax withholding related to the vesting of stock units.
v3.24.1
Share-Based Compensation (Tables)
 12 Months Ended
Feb. 03, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Share-Based Compensation Expense
Share-based compensation expense is as follows:
  
Fiscal Year
($ in millions)202320222021
Stock Units
$74 $26 $122 
Stock options3 7 13 
Employee stock purchase plan3 4 4 
Share-based compensation expense80 37 139 
Less: Income tax benefit(14)(14)(23)
Share-based compensation expense, net of tax$66 $23 $116 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
There were no stock options issued to employees during fiscal 2023. The fair value of stock options issued to employees during fiscal 2022 and 2021 was estimated on the date of grant using the following assumptions:
 Fiscal Year
 20222021
Expected term (in years)4.64.5
Expected volatility51.7 %56.9 %
Dividend yield4.0 %1.8 %
Risk-free interest rate2.5 %0.6 %
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable [Table Text Block]
Information about stock options outstanding and exercisable as of February 3, 2024 is as follows:
Intrinsic Value as of February 3, 2024
(in millions)		Number of
Shares as of
February 3, 2024		Weighted-
Average
Remaining
Contractual
Life (in years)		Weighted-
Average
Exercise Price Per Share
Options Outstanding $18 4,885,718 4.9$21.59 
Options Exercisable $10 3,805,421 4.3$23.71 
Stock Options [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Share-based Payment Arrangement, Option, Activity [Table Text Block]
A summary of stock option activity under the 2016 Plan for fiscal 2023 is as follows:
SharesWeighted-
Average
Exercise Price Per Share
Balance as of January 28, 20237,825,433 $20.75 
Granted— $— 
Exercised(900,155)$9.49 
Forfeited/Expired(2,039,560)$23.69 
Balance as of February 3, 20244,885,718 $21.59 
Additional Information About Stock Unit Activity [Table Text Block]
A summary of additional information about stock options is as follows: 
 Fiscal Year
  ($ in millions except per share amounts)
202320222021
Weighted-average fair value per share of stock options granted$— $4.66 $12.35 
Aggregate intrinsic value of stock options exercised$7 $2 $20 
Fair value of stock options vested$6 $13 $13 
Stock Units [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Share-based Payment Arrangement, Option, Activity [Table Text Block]
A summary of Stock Unit activity under the 2016 Plan for fiscal 2023 is as follows:
SharesWeighted-Average
Grant-Date
Fair Value Per Share
Balance as of January 28, 202315,001,991 $16.27 
Granted12,165,882 $9.35 
Granted, with vesting subject to performance and market conditions3,205,732 $9.61 
Vested(5,444,342)$15.07 
Forfeited(6,106,788)$14.10 
Balance as of February 3, 202418,822,475 $11.72 
Additional Information About Stock Unit Activity [Table Text Block]
A summary of additional information about Stock Units is as follows:
 Fiscal Year
 ($ in millions except per share amounts)
202320222021
Weighted-average fair value per share of Stock Units granted$9.41 $11.92 $31.28 
Fair value of Stock Units vested$82 $83 $62 
v3.24.1
Leases (Tables)
 12 Months Ended
Feb. 03, 2024
Leases [Abstract]  
Lease, Cost [Table Text Block]
Net lease cost recognized on our Consolidated Statements of Operations is summarized as follows:
Fiscal Year
($ in millions)20232022
Operating lease cost $823 $825 
Variable lease cost 443 447 
Sublease income— (1)
Net lease cost $1,266 $1,271 
Lessee, Operating Lease, Liability, Maturity [Table Text Block]
As of February 3, 2024, the maturities of lease liabilities based on the total minimum lease commitment amount including options to extend lease terms that are reasonably certain of being exercised are as follows:
($ in millions)
Fiscal Year
2024$819 
2025770 
2026677 
2027550 
2028470 
Thereafter1,762 
Total minimum lease payments5,048 
Less: Interest(1,095)
Present value of operating lease liabilities3,953 
Less: Current portion of operating lease liabilities(600)
Long-term operating lease liabilities$3,353 
v3.24.1
Earnings Per Share (Tables)
 12 Months Ended
Feb. 03, 2024
Earnings Per Share [Abstract]  
Weighted-Average Number of Shares
Weighted-average number of shares used for earnings (loss) per share is as follows:
 Fiscal Year
(shares in millions)202320222021
Weighted-average number of shares—basic370 367 376 
Common stock equivalents (1)6 — 7 
Weighted-average number of shares—diluted376 367 383 
__________
(1)For fiscal 2022, the dilutive impact of outstanding options and awards was excluded from dilutive shares as a result of the Company’s net loss for the period.
v3.24.1
Segment Information (Tables)
 12 Months Ended
Feb. 03, 2024
Segment Reporting [Abstract]  
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block]
Long-lived assets, excluding long-term deferred tax assets, by geographic location are as follows: 
($ in millions)February 3,
2024		January 28,
2023
U.S. (1)$5,614 $5,726 
Other regions605 672 
Total long-lived assets$6,219 $6,398 
__________
(1)U.S. includes the United States and Puerto Rico.
v3.24.1
Organization and Summary of Significant Accounting Policies Other Significant Accounting Policies (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Accounting Policies [Abstract]      
Payroll, benefits, and other administrative expenses for our distribution centers recorded in operating expenses $ 320 $ 386 $ 379
Research and Development Expense 37 46 41
Advertising expense $ 882 $ 1,039 $ 1,115
Latest Lease Expiration Date 2047    
Leasehold Improvements [Member] | Maximum [Member]      
Property, Plant and Equipment [Line Items]      
Estimated property and equipment useful lives 15 years    
Furniture and Equipment [Member] | Maximum [Member]      
Property, Plant and Equipment [Line Items]      
Estimated property and equipment useful lives 10 years    
Software [Member] | Maximum [Member]      
Property, Plant and Equipment [Line Items]      
Estimated property and equipment useful lives 7 years    
Building and Building Improvements [Member] | Maximum [Member]      
Property, Plant and Equipment [Line Items]      
Estimated property and equipment useful lives 39 years    
v3.24.1
Organization and Summary of Significant Accounting Policies Foreign Exchange Gain/Loss (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Accounting Policies [Abstract]      
Foreign currency transaction loss $ (9) $ (59) $ (18)
Realized and unrealized gain from certain derivative financial instruments 11 57 18
Net foreign exchange gain (loss) $ 2 $ (2) $ 0
v3.24.1
Organization and Summary of Significant Accounting Policies Supplemental Cash Flow Disclosures (Details) - USD ($)
$ in Millions
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Jan. 30, 2021
Restricted Cash and Cash Equivalents Items [Line Items]        
Cash and cash equivalents $ 1,873 $ 1,215 $ 877  
Restricted Cash, Current 0 32 0  
Restricted Cash, Noncurrent 28 26 25  
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $ 1,901 $ 1,273 $ 902 $ 2,016
v3.24.1
Additional Financial Statement Information Cash and Cash Equivalents (Details) - USD ($)
$ in Millions
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Additional Financial Statement Information [Abstract]      
Cash [1] $ 1,872 $ 1,200  
Time Deposits, at Carrying Value 1 15  
Cash and cash equivalents 1,873 1,215 $ 877
Amount in transit from banks for customer credit and debit card transactions $ 76 $ 60  
[1] Cash includes $76 million and $60 million of amounts in transit from banks for customer credit card and debit card transactions as of February 3, 2024 and January 28, 2023, respectively
v3.24.1
Additional Financial Statement Information Other Current Assets (Details) - USD ($)
$ in Millions
Feb. 03, 2024
Jan. 28, 2023
Other Current Assets [Line Items]    
Prepaid income taxes $ 36 $ 150
Accounts Receivable, after Allowance for Credit Loss, Current 289 340
Prepaid minimum rent and occupancy expenses 31 106
Assets Held-for-sale, Not Part of Disposal Group 0 172 [1]
Right of return asset 28 46
Derivative financial instruments 7 11
Other 136 188
Other current assets $ 527 $ 1,013
[1] The Company reclassifies certain assets and liabilities as held for sale that are expected to be sold within the next twelve months. As of January 28, 2023, the aggregate carrying amount of assets held for sale consisted of $142 million related to agreements to transition our Gap Greater China operations to Baozun and $30 million related to an agreement for the sale of a building. See Note 17 of Notes to Consolidated Financial Statements for related disclosures of the transition of our Gap Greater China operations to Baozun.
v3.24.1
Additional Financial Statement Information Property and Equipment (Details) - USD ($)
$ in Millions
Feb. 03, 2024
Jan. 28, 2023
Property, Plant and Equipment [Line Items]    
Property and equipment, at cost $ 7,440 $ 7,525
Less: Accumulated depreciation (4,874) (4,837)
Property and equipment, net of accumulated depreciation 2,566 2,688
Furniture and Fixtures [Member]    
Property, Plant and Equipment [Line Items]    
Property and equipment, at cost 2,805 2,833
Leasehold Improvements [Member]    
Property, Plant and Equipment [Line Items]    
Property and equipment, at cost 2,197 2,270
Software [Member]    
Property, Plant and Equipment [Line Items]    
Property and equipment, at cost 1,121 1,142
Land, Buildings and Improvements [Member]    
Property, Plant and Equipment [Line Items]    
Property and equipment, at cost 1,140 1,103
Construction in Progress [Member]    
Property, Plant and Equipment [Line Items]    
Property and equipment, at cost $ 177 $ 177
v3.24.1
Additional Financial Statement Information Other Long-Term Assets (Details) - USD ($)
$ in Millions
Feb. 03, 2024
Jan. 28, 2023
Additional Financial Statement Information [Abstract]    
Long-Term Tax-Related Assets $ 561 $ 480
Goodwill 207 207
Trade names 54 54
Intangible Assets, Net (Excluding Goodwill) 18 27
Other 128 140
Other long-term assets $ 968 $ 908
v3.24.1
Additional Financial Statement Information Accrued Expenses and Other Current Liabilities (Details) - USD ($)
$ in Millions
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Accrued Expense and Other Current Liabilities [Line Items]      
Accrued compensation and benefits $ 394 $ 243  
Deferred Revenue, Current 337 354 $ 345
Customer Refund Liability, Current 62 84  
Accrued Advertising, Current 40 44  
Deferred Interest, Current 21 22  
Derivative Liability, Current 8 20  
Disposal Group, Including Discontinued Operation, Liabilities, Current 0 126 [1]  
Other Accrued Liabilities, Current 246 326  
Accrued expenses and other current liabilities $ 1,108 $ 1,219  
[1] The Company reclassifies certain assets and liabilities as held for sale that are expected to be sold within the next twelve months. See Note 17 of Notes to Consolidated Financial Statements for related disclosures.
v3.24.1
Additional Financial Statement Information Other Long-Term Liabilities (Details) - USD ($)
$ in Millions
Feb. 03, 2024
Jan. 28, 2023
Additional Financial Statement Information [Abstract]    
Long-term income tax-related liabilities $ 319 $ 327
Long-term asset retirement obligations [1] 28 38
Deferred Rent Credit, Noncurrent 23 27
Other 142 152
Other long-term liabilities $ 512 $ 544
[1] The net activity related to asset retirement obligations includes adjustments to the asset retirement obligation balance and fluctuations in foreign currency exchange rates.
v3.24.1
Additional Financial Statement Information Additional Financial Statement Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Additional Financial Statement Information [Abstract]      
Depreciation $ 513 $ 531 $ 502
Interest Costs Capitalized $ 5 $ 7 $ 7
v3.24.1
Disaggregation Revenue (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Disaggregation of Revenue [Line Items]      
Net sales $ 14,889 [1] $ 15,616 $ 16,670
Store Sales      
Disaggregation of Revenue [Line Items]      
Net sales 9,346 9,651 10,239
Online Sales      
Disaggregation of Revenue [Line Items]      
Net sales [2] $ 5,543 $ 5,965 $ 6,431
[1] Fiscal 2023 includes incremental sales attributable to the 53rd week.
[2] Online sales primarily include sales originating from our online channel including those that are picked up or shipped from stores and net sales from revenue-generating strategic initiatives.
v3.24.1
Net Sales by Brand and Region (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 03, 2024
 [1]
Jan. 28, 2023
Jan. 29, 2022
Disaggregation of Revenue [Line Items]      
Net sales $ 14,889 $ 15,616 $ 16,670
Old Navy [Member]      
Disaggregation of Revenue [Line Items]      
Net sales 8,203 8,234 9,082
Gap Global      
Disaggregation of Revenue [Line Items]      
Net sales 3,341 3,774 4,063
Banana Republic Global      
Disaggregation of Revenue [Line Items]      
Net sales 1,939 2,116 1,976
Athleta [Member]      
Disaggregation of Revenue [Line Items]      
Net sales 1,360 1,480 1,447
Other entities      
Disaggregation of Revenue [Line Items]      
Net sales 46 [2] 12 [2] 102 [3]
U.S.      
Disaggregation of Revenue [Line Items]      
Net sales [4] 12,967 13,201 14,117
U.S. | Old Navy [Member]      
Disaggregation of Revenue [Line Items]      
Net sales [4] 7,460 7,471 8,272
U.S. | Gap Global      
Disaggregation of Revenue [Line Items]      
Net sales [4] 2,470 2,461 2,608
U.S. | Banana Republic Global      
Disaggregation of Revenue [Line Items]      
Net sales [4] 1,681 1,829 1,703
U.S. | Athleta [Member]      
Disaggregation of Revenue [Line Items]      
Net sales [4] 1,310 1,428 1,432
U.S. | Other entities      
Disaggregation of Revenue [Line Items]      
Net sales [4] 46 [2] 12 [2] 102 [3]
Canada      
Disaggregation of Revenue [Line Items]      
Net sales 1,221 1,236 1,252
Canada | Old Navy [Member]      
Disaggregation of Revenue [Line Items]      
Net sales 674 679 713
Canada | Gap Global      
Disaggregation of Revenue [Line Items]      
Net sales 332 332 349
Canada | Banana Republic Global      
Disaggregation of Revenue [Line Items]      
Net sales 170 192 178
Canada | Athleta [Member]      
Disaggregation of Revenue [Line Items]      
Net sales 45 33 12
Canada | Other entities      
Disaggregation of Revenue [Line Items]      
Net sales 0 [2] 0 [2] 0 [3]
Other Regions      
Disaggregation of Revenue [Line Items]      
Net sales 701 1,179 1,301
Other Regions | Old Navy [Member]      
Disaggregation of Revenue [Line Items]      
Net sales 69 84 97
Other Regions | Gap Global      
Disaggregation of Revenue [Line Items]      
Net sales 539 981 1,106
Other Regions | Banana Republic Global      
Disaggregation of Revenue [Line Items]      
Net sales 88 95 95
Other Regions | Athleta [Member]      
Disaggregation of Revenue [Line Items]      
Net sales 5 19 3
Other Regions | Other entities      
Disaggregation of Revenue [Line Items]      
Net sales $ 0 [2] $ 0 [2] $ 0 [3]
[1] Fiscal 2023 includes incremental sales attributable to the 53rd week.
[2] Primarily consists of net sales from revenue-generating strategic initiatives.
[3] Primarily consists of net sales for the Intermix and Janie and Jack brands, as well as other revenue-generating strategic initiatives. The divestiture of Janie and Jack was completed on April 8, 2021. The divestiture of Intermix was completed on May 21, 2021.
[4] U.S. includes the United States and Puerto Rico.
v3.24.1
Revenue (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Apr. 30, 2022
Jan. 29, 2022
Revenue from Contract with Customer [Abstract]        
Liabilities, Other than Long-term Debt, Noncurrent     $ 60  
Deferred Revenue, Revenue Recognized $ 253 $ 241    
Deferred Revenue, Current $ 337 $ 354   $ 345
v3.24.1
Restructuring and Related Activities (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Restructuring and Related Activities [Abstract]    
Restructuring Charges $ 93  
Restructuring Cost and Reserve [Line Items]    
Restructuring Charges 93  
Restructuring Reserve, Accrual Adjustment (1)  
Payments for Restructuring (88)  
Restructuring Reserve 5 $ 0
Charges that will be settled with cash payments    
Restructuring and Related Activities [Abstract]    
Restructuring Charges 94  
Restructuring Cost and Reserve [Line Items]    
Restructuring Charges 94  
Other Restructuring [Member]    
Restructuring and Related Activities [Abstract]    
Restructuring Charges 29  
Restructuring Cost and Reserve [Line Items]    
Restructuring Charges 29  
Restructuring Reserve, Accrual Adjustment 0  
Payments for Restructuring (29)  
Restructuring Reserve 0 0
Other Restructuring [Member] | Charges that will be settled with cash payments    
Restructuring and Related Activities [Abstract]    
Restructuring Charges 29  
Restructuring Cost and Reserve [Line Items]    
Restructuring Charges 29  
Employee Severance [Member]    
Restructuring and Related Activities [Abstract]    
Restructuring Charges 64  
Restructuring Cost and Reserve [Line Items]    
Restructuring Charges 64  
Restructuring Reserve, Accrual Adjustment (1)  
Payments for Restructuring (59)  
Restructuring Reserve 5 $ 0
Employee Severance [Member] | Charges that will be settled with cash payments    
Restructuring and Related Activities [Abstract]    
Restructuring Charges 65  
Restructuring Cost and Reserve [Line Items]    
Restructuring Charges 65  
Cost of Goods Sold and Occupancy Expense    
Restructuring and Related Activities [Abstract]    
Restructuring Charges 4  
Restructuring Cost and Reserve [Line Items]    
Restructuring Charges 4  
Cost of Goods Sold and Occupancy Expense | Other Restructuring [Member]    
Restructuring and Related Activities [Abstract]    
Restructuring Charges 0  
Restructuring Cost and Reserve [Line Items]    
Restructuring Charges 0  
Cost of Goods Sold and Occupancy Expense | Employee Severance [Member]    
Restructuring and Related Activities [Abstract]    
Restructuring Charges 4  
Restructuring Cost and Reserve [Line Items]    
Restructuring Charges 4  
Operating expenses    
Restructuring and Related Activities [Abstract]    
Restructuring Charges 89  
Restructuring Cost and Reserve [Line Items]    
Restructuring Charges 89  
Operating expenses | Other Restructuring [Member]    
Restructuring and Related Activities [Abstract]    
Restructuring Charges 29  
Restructuring Cost and Reserve [Line Items]    
Restructuring Charges 29  
Operating expenses | Employee Severance [Member]    
Restructuring and Related Activities [Abstract]    
Restructuring Charges 60  
Restructuring Cost and Reserve [Line Items]    
Restructuring Charges $ 60  
v3.24.1
Income Taxes Income Taxes - Components Of Income Before Income Taxes (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Income Tax Disclosure [Abstract]      
United States $ 463 $ (280) $ 217
Foreign 93 141 106
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest $ 556 $ (139) $ 323
v3.24.1
Income Taxes Income Taxes - Tax Provision (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Current Income Tax Expense (Benefit), Continuing Operations [Abstract]      
Federal $ 63 $ (35) $ 46
State 12 6 38
Foreign 43 50 44
Total current 118 21 128
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]      
Federal (40) 24 (50)
State (6) 15 (23)
Foreign (18) 3 12
Total deferred (64) 42 (61)
Income Tax Expense (Benefit), Total $ 54 $ 63 $ 67
v3.24.1
Income Taxes Income Taxes - Effective Income Tax Rate Reconciliation (Details)
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Income Tax Disclosure [Abstract]      
Federal statutory tax rate 21.00% 21.00% 21.00%
State and local income taxes, net of federal benefit 2.50% (13.70%) 5.30%
Tax impact of foreign operations (0.70%) (28.10%) (2.50%)
Effective Income Tax Rate Reconciliation Impact Related To CARES Act 0 0 (0.056)
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent [1] (11.00%) (3.60%) 7.40%
Effective Income Tax Rate Reconciliation, Disposition of Business, Percent (1.60%) (21.60%) (6.40%)
Other (0.50%) 0.70% 1.50%
Effective tax rate 9.70% (45.30%) 20.70%
[1] Beginning in fiscal 2022, we have made a change for all periods presented to separately disclose valuation allowances as its own line item. Previously, the impact of valuation allowances was grouped within various line items in fiscal 2021.
v3.24.1
Income Taxes Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Millions
Feb. 03, 2024
Jan. 28, 2023
Gross deferred tax assets:    
Deferred Tax Asset Operating Lease Liability $ 1,021 $ 1,126
Deferred Tax Assets Accrued Payroll And Related Benefits 86 44
Deferred Tax Assets Nondeductible Accruals 176 180
Deferred Tax Assets, Inventory 75 93
Deferred Tax Assets, Deferred Income 53 51
Deferred Tax Assets, Operating Loss Carryforwards 197 290
Deferred Tax Assets, Other 22 95
Deferred Tax Assets, Gross, Total 1,630 1,879
Deferred Tax Assets, Valuation Allowance (233) (369)
Deferred Tax Assets, Net of Valuation Allowance, Total 1,397 1,510
Deferred Tax Liabilities, Gross [Abstract]    
Depreciation and amortization (154) (246)
Deferred Tax Liabilities Operating Lease Asset (802) (881)
Other (11) (12)
Deferred Tax Liabilities, Gross, Total 967 1,139
Deferred Tax Assets, Net, Total $ 430 $ 371
v3.24.1
Income Taxes Income Taxes - Unrecognized Tax Benefits Roll Forward (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Income Tax Disclosure [Abstract]      
Balance at beginning of fiscal year $ 344 $ 359 $ 340
Increases related to current year tax positions 12 11 26
Prior year tax positions:      
Increases 21 1 7
Decreases (30) (24) (9)
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations (1) 0 (1)
Cash settlements (3) (2) (2)
Foreign currency translation 0 (1) (2)
Balance at end of fiscal year $ 343 $ 344 $ 359
v3.24.1
Income Taxes - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Jan. 30, 2021
Operating Loss Carryforwards [Line Items]        
Unrecognized Tax Benefits, Income Tax Penalties Accrued $ 0 $ 0    
Deferred Tax Assets, Valuation Allowance 233 369    
Expense related to held-for-sale classification of Gap China business   37    
Unrecognized Tax Benefits 343 344 $ 359 $ 340
Unrecognized Tax Benefits that Would Impact Effective Tax Rate 325 326 339  
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense 4 12 6  
Unrecognized Tax Benefits, Interest on Income Taxes Accrued 49 $ 43    
Benefit To Income Taxes If Decrease In Gross Unrecognized Tax Benefits Within 12 Months Are Recognized 1      
Benefit related to finalization of NOL Carryback from CARES Act     18  
Benefit related to divestiture activity     $ 21  
Benefit for changes in US and foreign valuation allowances 65      
Benefit related to a US transfer pricing settlement related to sourcing activities 32      
State and Local Jurisdiction [Member]        
Operating Loss Carryforwards [Line Items]        
Operating Loss Carryforwards 961      
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration 770      
Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration 191      
Domestic Tax Authority [Member]        
Operating Loss Carryforwards [Line Items]        
Deferred Tax Assets, Valuation Allowance 233      
Foreign Tax Authority [Member]        
Operating Loss Carryforwards [Line Items]        
Operating Loss Carryforwards 594      
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration 261      
Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration $ 333      
v3.24.1
Income Taxes Income Tax Items (Details)
$ in Millions
Feb. 03, 2024
USD ($)
Foreign Tax Authority [Member]  
Income Tax Items [Line Items]  
Deferred Tax Assets, Tax Credit Carryforwards, Foreign $ 16
Operating Loss Carryforwards 594
Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration 333
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration 261
State and Local Jurisdiction [Member]  
Income Tax Items [Line Items]  
Operating Loss Carryforwards 961
Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration 191
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration $ 770
v3.24.1
Goodwill and Trade Names Table (Details) - USD ($)
$ in Millions
Feb. 03, 2024
Jan. 28, 2023
Goodwill [Line Items]    
Goodwill $ 207 $ 207
Indefinite-Lived Trade Names 54 54
Finite-Lived Intangible Assets, Gross 54 54
Finite-Lived Intangible Assets, Accumulated Amortization (36) (27)
Finite-Lived Intangible Assets, Net $ 18 $ 27
v3.24.1
Goodwill and Trade Names - Additional Goodwill (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Goodwill [Line Items]      
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) $ 0 $ 0 $ 0
Amortization of Intangible Assets 9 9 2
Goodwill, Impairment Loss $ 0 $ 0 $ 0
v3.24.1
Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($)
$ in Millions
Feb. 03, 2024
Jan. 28, 2023
Debt Instrument [Line Items]    
Unamortized Debt Issuance Expense $ (12) $ (14)
Notes Payable 1,488 1,486
Aggregate principal amount of notes issued 1,500  
2029 Notes    
Debt Instrument [Line Items]    
Aggregate principal amount of notes issued 750 [1] 750
2031 Notes    
Debt Instrument [Line Items]    
Aggregate principal amount of notes issued $ 750 [2] $ 750
[1] Includes an option to redeem the 2029 Notes, in whole or in part at any time, subject to a make-whole premium, prior to October 1, 2024. On or after October 1, 2024, includes an option to redeem the 2029 Notes, in whole or in part at any time, at stated redemption prices.
[2] Includes an option to redeem the 2031 Notes, in whole or in part at any time, subject to a make-whole premium, prior to October 1, 2026. On or after October 1, 2026, includes an option to redeem the 2031 Notes, in whole or in part at any time, at stated redemption prices.
v3.24.1
Long Term Debt Maturities Table (Details) - USD ($)
$ in Millions
Feb. 03, 2024
Jan. 28, 2023
Debt Disclosure [Abstract]    
Aggregate principal amount of notes issued $ 1,500  
Debt Instrument [Line Items]    
Aggregate principal amount of notes issued 1,500  
2029 Notes    
Debt Disclosure [Abstract]    
Aggregate principal amount of notes issued $ 750 [1] $ 750
Notes, interest rate 3.625%  
Debt Instrument [Line Items]    
Notes, interest rate 3.625%  
Aggregate principal amount of notes issued $ 750 [1] 750
2031 Notes    
Debt Disclosure [Abstract]    
Aggregate principal amount of notes issued $ 750 [2] 750
Notes, interest rate 3.875%  
Debt Instrument [Line Items]    
Notes, interest rate 3.875%  
Aggregate principal amount of notes issued $ 750 [2] $ 750
[1] Includes an option to redeem the 2029 Notes, in whole or in part at any time, subject to a make-whole premium, prior to October 1, 2024. On or after October 1, 2024, includes an option to redeem the 2029 Notes, in whole or in part at any time, at stated redemption prices.
[2] Includes an option to redeem the 2031 Notes, in whole or in part at any time, subject to a make-whole premium, prior to October 1, 2026. On or after October 1, 2026, includes an option to redeem the 2031 Notes, in whole or in part at any time, at stated redemption prices.
v3.24.1
Debt - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Jul. 30, 2022
Debt Instrument [Line Items]        
Line of Credit Facility, Amount Outstanding $ 0.0 $ 350.0    
Estimated fair value 1,260.0      
Gain (Loss) on Extinguishment of Debt 0.0 0.0 $ (325.0)  
Gain (Loss) on Extinguishment of Debt 0.0 0.0 (325.0)  
Aggregate principal amount of notes issued 1,500.0      
ABL Facility [Member]        
Debt Instrument [Line Items]        
Letters of Credit Outstanding, Amount 48.0      
Line of Credit Facility, Amount Outstanding 0.0 $ 350.0    
Line of Credit Facility, Maximum Borrowing Capacity $ 2,200.0     $ 1,867.5
Tender Premiums        
Debt Instrument [Line Items]        
Gain (Loss) on Extinguishment of Debt     (253.0)  
Gain (Loss) on Extinguishment of Debt     (253.0)  
Make Whole Premiums        
Debt Instrument [Line Items]        
Gain (Loss) on Extinguishment of Debt     (40.0)  
Gain (Loss) on Extinguishment of Debt     (40.0)  
Unamortized Debt Issuance Costs        
Debt Instrument [Line Items]        
Gain (Loss) on Extinguishment of Debt     (28.0)  
Gain (Loss) on Extinguishment of Debt     $ (28.0)  
v3.24.1
ABL Facility Addition Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Jul. 30, 2022
Debt Instrument [Line Items]      
Line of Credit Facility, Amount Outstanding $ 0.0 $ 350.0  
Unamortized Debt Issuance Expense 12.0 14.0  
ABL Facility [Member]      
Line of Credit Facility [Line Items]      
Repayments of Long-Term Lines of Credit 350.0    
Debt Instrument [Line Items]      
Line of Credit Facility, Maximum Borrowing Capacity 2,200.0   $ 1,867.5
Letters of Credit Outstanding, Amount 48.0    
Line of Credit Facility, Amount Outstanding 0.0 $ 350.0  
Unamortized Debt Issuance Expense $ 6.0    
v3.24.1
Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($)
$ in Millions
Feb. 03, 2024
Jan. 28, 2023
Assets:    
Cash equivalents $ 1 $ 15
Derivative financial instruments 7 11
Deferred compensation plan assets 31 34
Other Assets, Fair Value Disclosure 4 4
Assets, Fair Value Disclosure 43 64
Liabilities:    
Derivative Liability, Fair Value, Gross Liability 8 20
Fair Value, Inputs, Level 1 [Member]    
Assets:    
Cash equivalents 0 0
Derivative financial instruments 0 0
Deferred compensation plan assets 31 34
Other Assets, Fair Value Disclosure 0 0
Assets, Fair Value Disclosure 31 34
Liabilities:    
Derivative Liability, Fair Value, Gross Liability 0 0
Fair Value, Inputs, Level 2 [Member]    
Assets:    
Cash equivalents 1 15
Derivative financial instruments 7 11
Deferred compensation plan assets 0 0
Other Assets, Fair Value Disclosure 0 0
Assets, Fair Value Disclosure 8 26
Liabilities:    
Derivative Liability, Fair Value, Gross Liability 8 20
Fair Value, Inputs, Level 3 [Member]    
Assets:    
Cash equivalents 0 0
Derivative financial instruments 0 0
Deferred compensation plan assets 0 0
Other Assets, Fair Value Disclosure 4 4
Assets, Fair Value Disclosure 4 4
Liabilities:    
Derivative Liability, Fair Value, Gross Liability $ 0 $ 0
v3.24.1
Fair Value Measurements Long Lived Assets Impairment (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Long Lived Assets [Line Items]      
Impairment of store assets $ 3 $ 18 $ 1
Goodwill, Impairment Loss 0 0 0
Total Impairment Charges 7 51 9
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) 0 0 0
Operating lease Impairment [Member]      
Long Lived Assets [Line Items]      
Long Lived Asset at Carrying Value 51 248 24
Impaired Asset at Fair Value 47 215 16
Total Impairment Charges [1] 4 33 8
Store Assets [Member]      
Long Lived Assets [Line Items]      
Long Lived Asset at Carrying Value 4 21 1
Impaired Asset at Fair Value 1 3 0
Total Impairment Charges [2] $ 3 $ 18 $ 1
[1] The impairment charge reduced the then carrying amount of the applicable operating lease assets of $51 million, $248 million, and $24 million to their fair value of $47 million, $215 million, and $16 million during fiscal 2023, 2022, and 2021, respectively.
[2] The impairment charge reduced the then carrying amount of the applicable store assets of $4 million, $21 million, and $1 million to their fair value of $1 million, $3 million, and zero during fiscal 2023, 2022, and 2021, respectively.
v3.24.1
Fair Value Measurements - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Fair Value Of Financial Instruments [Line Items]      
Total Impairment Charges $ 7 $ 51 $ 9
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases, Sales, Issues, Settlements 0 0  
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) 0 0 0
Store Assets [Member]      
Fair Value Of Financial Instruments [Line Items]      
Total Impairment Charges [1] 3 18 1
Operating lease Impairment [Member]      
Fair Value Of Financial Instruments [Line Items]      
Total Impairment Charges [2] $ 4 $ 33 $ 8
[1] The impairment charge reduced the then carrying amount of the applicable store assets of $4 million, $21 million, and $1 million to their fair value of $1 million, $3 million, and zero during fiscal 2023, 2022, and 2021, respectively.
[2] The impairment charge reduced the then carrying amount of the applicable operating lease assets of $51 million, $248 million, and $24 million to their fair value of $47 million, $215 million, and $16 million during fiscal 2023, 2022, and 2021, respectively.
v3.24.1
Derivative Financial Instruments - Foreign Exchange Contracts Outstanding to Sell Various Currencies (Details) - USD ($)
$ in Millions
Feb. 03, 2024
Jan. 28, 2023
Derivative [Line Items]    
Derivative, Notional Amount $ 949 $ 1,086
Derivatives in cash flow hedging relationships    
Derivative [Line Items]    
Derivative, Notional Amount 381 441
Not Designated as Hedging Instrument [Member]    
Derivative [Line Items]    
Derivative, Notional Amount $ 568 $ 645
v3.24.1
Derivative Financial Instruments - Fair Values of Asset and Liability Derivative Financial Instruments (Details) - USD ($)
$ in Millions
Feb. 03, 2024
Jan. 28, 2023
Derivatives, Fair Value [Line Items]    
Total derivative instruments, assets $ 7 $ 11
Total derivative instruments, liabilities 8 20
Foreign exchange forward contracts    
Derivatives, Fair Value [Line Items]    
Total derivative instruments, assets 7 11
Total derivative instruments, liabilities 8 20
Foreign exchange forward contracts | Derivatives in cash flow hedging relationships | Other Current Assets [Member]    
Derivatives, Fair Value [Line Items]    
Total derivative instruments, assets 6 9
Foreign exchange forward contracts | Derivatives in cash flow hedging relationships | Accrued Liabilities Current [Member]    
Derivatives, Fair Value [Line Items]    
Total derivative instruments, liabilities 2 5
Foreign exchange forward contracts | Derivatives not designated as hedging instruments | Other Current Assets [Member]    
Derivatives, Fair Value [Line Items]    
Total derivative instruments, assets 1 2
Foreign exchange forward contracts | Derivatives not designated as hedging instruments | Accrued Liabilities Current [Member]    
Derivatives, Fair Value [Line Items]    
Total derivative instruments, liabilities $ 6 $ 15
v3.24.1
Derivative Financial Instruments - Effects Of Derivative Financial Instruments On OCI And Consolidated Statements Of Income (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Derivative Instruments, Gain (Loss) [Line Items]      
Amounts Subject to Enforceable Master Netting Arrangements $ 0 $ 0  
Operating expenses 5,215 5,428 $ 5,827
Cost of goods sold and occupancy expenses 9,114 10,257 10,033
Cost of Goods Sold and Occupancy Expense      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net $ (18) $ (33) $ 15
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration] Cost of goods sold and occupancy expenses Cost of goods sold and occupancy expenses Cost of goods sold and occupancy expenses
Operating expenses      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net $ (11) $ (57) $ (18)
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration] Operating expenses Operating expenses Operating expenses
Foreign exchange forward contracts | Cost of Goods Sold and Occupancy Expense | Derivatives not designated as hedging instruments      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net $ 0 $ 0 $ 0
Foreign exchange forward contracts | Cost of Goods Sold and Occupancy Expense | Derivatives in cash flow hedging relationships      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net (18) (33) 15
Foreign exchange forward contracts | Operating expenses | Derivatives not designated as hedging instruments      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net (11) (57) (18)
Foreign exchange forward contracts | Operating expenses | Derivatives in cash flow hedging relationships      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net $ 0 $ 0 $ 0
v3.24.1
Derivative Financial Instruments - Additional Information (Details) - USD ($)
$ in Millions
Feb. 03, 2024
Jan. 28, 2023
Derivative [Line Items]    
Amounts Subject to Enforceable Master Netting Arrangements $ 0 $ 0
v3.24.1
Common Stock (Share Repurchase Activity) (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Common Stock, Number of Shares, Par Value and Other Disclosure [Abstract]      
Number of shares repurchased (in shares) [1] 0 11 9
Treasury Stock, Value, Acquired, Cost Method $ 0 $ 123 $ 201
Average per share cost including commissions (in dollars per share) $ 0 $ 11.59 $ 23.47
[1] Excludes shares withheld to settle employee statutory tax withholding related to the vesting of stock units.
v3.24.1
Common Stock - Additional Information (Details)
$ / shares in Units, shares in Thousands, $ in Millions
Feb. 03, 2024
USD ($)
Votes_per_share
$ / shares
shares
Jan. 28, 2023
shares
Feb. 26, 2019
USD ($)
Class of Stock [Line Items]      
Common Stock, Shares Authorized 2,300,000 2,300,000  
Common stock, shares issued (in shares) 372,000 366,000  
Preferred stock, shares authorized (in shares) 30,000    
Preferred stock, par value (in dollars per share) | $ / shares $ 0.05    
Preferred stock, shares issued (in shares) 0    
Share repurchases, authorized amount | $     $ 1,000
Share repurchases, remaining amount | $ $ 476    
Common Class B [Member]      
Class of Stock [Line Items]      
Common Stock, Shares Authorized 60,000    
Common Stock Votes Per Share | Votes_per_share 6    
Common stock, shares issued (in shares) 0    
v3.24.1
Share-Based Compensation - Total Share-Based Compensation Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based compensation expense $ 80 $ 37 $ 139
Less: Income tax benefit (14) (14) (23)
Share-based compensation expense, net of tax 66 23 116
Stock Units [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based compensation expense 74 26 122
Stock Options [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based compensation expense 3 7 13
Employee stock purchase plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based compensation expense $ 3 $ 4 $ 4
v3.24.1
Share-Based Compensation Share-Based Compensation - Stock Unit Activity (Details) - Stock Units [Member] - $ / shares
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Stock Units Outstandings, Shares 18,822,475 15,001,991
Stock Units Granted, Shares 12,165,882  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period with Vesting subject to performance and market conditions 3,205,732  
Stock Units Vested, Shares (5,444,342)  
Stock Units Forfeited, Shares (6,106,788)  
Stock Units Outstanding, Weighted-Average Grant-Date Fair Value $ 11.72 $ 16.27
Granted, Weighted-Average Grant-Date Fair Value 9.35  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options,  Grants w Vesting subject to performance and market conditions, Wt Avg Grant Date Fair Value 9.61  
Vested, Weighted-Average Grant-Date Fair Value 15.07  
Forfeited, Weighted-Average Grant-Date Fair Value $ 14.10  
v3.24.1
Share-Based Compensation Share-Based Compensation - Additional Information About Stock Unit Activity (Details) - Stock Units [Member] - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Weighted Average Fair Value Per Share of Stock Units Granted Including Those Subject to Performance Conditions $ 9.41 $ 11.92 $ 31.28
Fair value of Stock Units vested $ 82 $ 83 $ 62
v3.24.1
Share-Based Compensation Share-Based Compensation - Payment Awards, Stock Options, Valuation Assumptions (Details) - Stock Options [Member]
 12 Months Ended
Jan. 28, 2023
Jan. 29, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Expected term (in years) 4 years 7 months 6 days 4 years 6 months
Expected volatility 51.70% 56.90%
Dividend yield 4.00% 1.80%
Risk-free interest rate 2.50% 0.60%
v3.24.1
Share-Based Compensation Share-Based Compensation - Stock Options, Activity (Details) - $ / shares
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Options Outstanding, Shares 4,885,718  
Options Outstanding, Weighted-Average Exercise Price $ 21.59  
Options Exercised, Weighted-Average Exercise Price $ 23.71  
Stock Options [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Options Outstanding, Shares 4,885,718 7,825,433
Options Granted, Shares 0  
Options Exercised, Shares (900,155)  
Options Forfeited/Expired, Shares (2,039,560)  
Options Outstanding, Weighted-Average Exercise Price $ 21.59 $ 20.75
Options Granted, Weighted-Average Exercise Price 0  
Options Exercised, Weighted-Average Exercise Price 9.49  
Options Forfeited/Expired, Weighted Average Exercise Price $ 23.69  
Vesting period 4 years  
v3.24.1
Share-Based Compensation Share-Based Compensation - Additional Information About Stock Option Activity (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Aggregate intrinsic value of stock options exercised $ 10    
Stock Options [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Weighted-average fair value per share of stock options granted $ 0 $ 4.66 $ 12.35
Aggregate intrinsic value of stock options exercised $ 7 $ 2 $ 20
Fair value of stock options vested $ 6 $ 13 $ 13
v3.24.1
Share-Based Compensation Share-Based Compensation - Arrangement By Shares Outstanding And Exercisable (Details)
$ / shares in Units, $ in Millions
 12 Months Ended
Feb. 03, 2024
USD ($)
$ / shares
shares
Share-based Compensation, Shares Authorized under Stock Option Plans [Line Items]  
Aggregate intrinsic value of options outstanding | $ $ 18
Options Outstanding, Shares | shares 4,885,718
Options Outstanding, Weighted-Average Remaining Contractual Life (in years) 4 years 10 months 24 days
Options Outstanding, Weighted-Average Exercise Price | $ / shares $ 21.59
Aggregate intrinsic value of stock options exercised | $ $ 10
Options Exercisable, Shares | shares 3,805,421
Weighted-average reemaining contractual life of stock options exercisable 4 years 3 months 18 days
Options Exercised, Weighted-Average Exercise Price | $ / shares $ 23.71
v3.24.1
Share-Based Compensation Share-Based Compensation - Additional Information (Details) - USD ($)
$ / shares in Millions, $ in Millions
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based Payment Arrangement, Amount Capitalized $ 0 $ 0 $ 0
No material modifications made to our outstanding stock options and stock awards no no no
2016 Plan [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of shares authorized for issuance 311,586,781    
Stock Units [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Aggregate intrinsic value of unvested Stock Units $ 373    
Nonvested awards, total compensation cost not yet recognized $ 117    
Nonvested awards, total compensation cost not yet recognized, period for recognition 2 years    
Stock Options [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting period 4 years    
Annual vesting percentage for stock options 25.00%    
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period 10 years    
Employee stock purchase plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent 85.00%    
Share-based compensation arrangement by share-based payment award, discount from market price, purchase date 15.00%    
Stock issued during period, Shares, Employee Stock Purchase Plans 1,945,332 2,337,159 1,117,669
Common stock, capital shares reserved for future issuance 10,636,532    
Employee stock purchase plan | Maximum [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Percentage deduction from payroll for Employee Stock Purchase 15.00%    
Employee stock purchase plan | Minimum [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Percentage deduction from payroll for Employee Stock Purchase 1.00%    
v3.24.1
Leases Cost (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Leases [Abstract]    
Operating Lease, Cost $ 823 $ 825
Variable Lease, Cost 443 447
Sublease (Income) Loss 0 (1)
Lease, Cost 1,266 1,271
Lease cost - Finance $ 0 $ 0
v3.24.1
Leases Minimum lease liability ASC 842 (Details) - USD ($)
$ in Millions
Feb. 03, 2024
Jan. 28, 2023
Leases [Abstract]    
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year $ 819  
Lessee, Operating Lease, Liability, Payments, Due Year Two 770  
Lessee, Operating Lease, Liability, Payments, Due Year Three 677  
Lessee, Operating Lease, Liability, Payments, Due Year Four 550  
Lessee, Operating Lease, Liability, Payments, Due Year Five 470  
Lessee, Operating Lease, Liability, Payments, Due after Year Five 1,762  
Lessee, Operating Lease, Liability, Payments, Due 5,048  
Lessee, Operating Lease, Liability, Undiscounted Excess Amount (1,095)  
Operating Lease, Liability 3,953  
Operating Lease, Liability, Current (600) $ (667)
Operating Lease, Liability, Noncurrent $ 3,353 $ 3,517
v3.24.1
Leases Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Leases [Abstract]    
Additions Of Operating Lease Assets $ 544 $ 124
Minimum Lease Commitment Signed Not Yet Commenced $ 62 $ 116
Operating Lease, Weighted Average Remaining Lease Term 7 years 8 months 12 days 8 years
Operating Lease, Weighted Average Discount Rate, Percent 6.40% 5.60%
Operating Lease, Right-of-Use Asset $ 3,115 $ 3,173
Lease cost - Finance 0 0
Finance Lease, Liability 0 0
Finance lease asset $ 0 $ 0
v3.24.1
Employee Benefit Plans (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Defined Benefit Plan Disclosure [Line Items]      
Deferred Compensation Arrangement with Individual, Contributions by Employer $ 0 $ 0 $ 0
Defined Contribution Plan, Cost 49 49 $ 46
Deferred compensation plan assets 31 34  
Deferred Compensation Liability, Current and Noncurrent $ 31 $ 37  
v3.24.1
Earnings Per Share - Weighted Average Number of Shares (Details) - shares
shares in Millions
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Earnings Per Share [Abstract]      
Weighted-average number of shares - basic (in shares) 370 367 376
Common stock equivalents (in shares) 6 0 [1] 7
Weighted-average number of shares - diluted (in shares) 376 367 383
[1] For fiscal 2022, the dilutive impact of outstanding options and awards was excluded from dilutive shares as a result of the Company’s net loss for the period.
v3.24.1
Earnings Per Share - Additional Information (Details) - shares
shares in Millions
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Earnings Per Share [Abstract]      
Shares excluded from the computations of weighted-average number of shares - diluted 6 11 7
v3.24.1
Commitments and Contingencies Commitments and Contingencies Additional (Details) - USD ($)
$ in Millions
Feb. 03, 2024
Jan. 28, 2023
Commitments and Contingencies Disclosure [Abstract]    
Loss Contingency, Estimate of Possible Loss $ 0 $ 0
v3.24.1
Segment Information - Net Sales And Long-Lived Assets By Geographic Location (Detail) - USD ($)
$ in Millions
Feb. 03, 2024
Jan. 28, 2023
Segment Reporting Information [Line Items]    
Long-Lived Assets $ 6,219 $ 6,398
U.S.    
Segment Reporting Information [Line Items]    
Long-Lived Assets [1] 5,614 5,726
Other Foreign    
Segment Reporting Information [Line Items]    
Long-Lived Assets $ 605 $ 672
[1] U.S. includes the United States and Puerto Rico.
v3.24.1
Segment Information - Additional Information (Details)
 12 Months Ended
Feb. 03, 2024
Segment Reporting [Abstract]  
Number of reportable segments (in segments) 1
v3.24.1
Divestitures - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Net proceeds from sale of buildings $ 76 $ 458 $ 0
Gain on sale of building (47) (83) 0
Loss on divestiture activity $ 0 35 $ 59
Distribution Center      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Net proceeds from sale of buildings   125  
Gain on sale of building   83  
Gap China      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Disposal Group, Including Discontinued Operation, Assets   142  
Disposal Group, Including Discontinued Operation, Liabilities   126  
Gap China | Accounts Payable      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Disposal Group, Including Discontinued Operation, Liabilities   33  
Gap China | Accrued Liabilities      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Disposal Group, Including Discontinued Operation, Liabilities   19  
Gap China | Property Subject to Operating Lease      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Disposal Group, Including Discontinued Operation, Liabilities   70  
Gap China | Other Current Assets [Member]      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Disposal Group, Including Discontinued Operation, Assets   20  
Gap China | Property Subject to Operating Lease      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Disposal Group, Including Discontinued Operation, Assets   55  
Gap China | Inventories      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Disposal Group, Including Discontinued Operation, Assets   35  
Gap China | Property, Plant and Equipment [Member]      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Disposal Group, Including Discontinued Operation, Assets   $ 26  
v3.24.1
Supply Chain Finance Program (Details) - USD ($)
$ in Millions
Feb. 03, 2024
Jan. 28, 2023
Supplier Finance Program Liabilities [Abstract]    
Supplier Finance Program, Obligation, Current $ 373 $ 316
Supplier Finance Program, Obligation, Current, Statement of Financial Position [Extensible Enumeration] Accounts payable Accounts payable
Collateral Pledged    
Supplier Finance Program [Line Items]    
Restricted Cash $ 0 $ 30