Quarterly report pursuant to Section 13 or 15(d)

Revenue Contract with Customer Liability (Tables)

v3.8.0.1
Revenue Contract with Customer Liability (Tables)
3 Months Ended
May 05, 2018
Revenue from Contract with Customer [Abstract]  
Contract with Customer, Liability [Table Text Block]
The liabilities related to our gift cards and our customer loyalty program are included in Other accounts payable and accrued expenses in the unaudited Interim Consolidated Balance Sheets and constitute our contract liability. The balance of these liabilities were as follows:
(in millions)
May 5, 2018
 
April 29, 2017
 
February 3, 2018
Gift cards
$
124

 
$
128

 
$
144

Loyalty rewards
71

 
91

 
73

Total contract liability
$
195

 
$
219

 
$
217

Change in Contract with Customer, Liability Rollforward [Table Text Block]
Contract liability includes consideration received for gift card and loyalty related performance obligations which have not been satisfied as of a given date.

A rollforward of the amounts included in contract liability for the first quarters of 2018 and 2017 are as follows:
(in millions)
2018
 
2017
Beginning balance
$
217

 
$
228

Current period gift cards sold and loyalty reward points earned
74

 
114

Net sales from amounts included in contract liability opening balances
(38
)
 
(41
)
Net sales from current period usage
(58
)
 
(82
)
Ending balance
$
195

 
$
219