Quarterly report pursuant to Section 13 or 15(d)

Change in Accounting for Revenue Recognition and Retirement-Related Benefits (Tables)

v3.10.0.1
Change in Accounting for Revenue Recognition and Retirement-Related Benefits (Tables)
9 Months Ended
Nov. 03, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]  
Schedule of Prior Period Adjustments Made to Consolidated Statements of Operations [Table Text Block]
Consolidated Statements of Operations
 
Three Months Ended
 
Nine Months Ended
 
October 28, 2017
 
October 28, 2017
($ in millions, except per share data)
Previously Reported
 
As Adjusted
 
Effect of Change
 
Previously Reported
 
As Adjusted
 
Effect of Change
Total net sales
$
2,807

 
$
2,817

 
$
10

 
$
8,475

 
$
8,503

 
$
28

Credit income and other

 
69

 
69

 

 
235

 
235

Cost of goods sold (exclusive of depreciation and amortization)
1,852

 
1,859

 
7

 
5,498

 
5,516

 
18

Selling, general and administrative (SG&A)
840

 
920

 
80

 
2,525

 
2,793

 
268

Pension
9

 

 
(9
)
 
3

 

 
(3
)
Restructuring and management transition
52

 
52

 

 
295

 
175

 
(120
)
Operating income/(loss)
(79
)
 
(78
)
 
1

 
(131
)
 
(31
)
 
100

Other components of net periodic pension cost/(income)

 
(2
)
 
(2
)
 

 
90

 
90

Income/(loss) before income taxes
(157
)
 
(154
)
 
3

 
(410
)
 
(400
)
 
10

Net income/(loss)
$
(128
)
 
$
(125
)
 
$
3

 
$
(370
)
 
$
(360
)
 
$
10

Basic earnings/(loss) per common share
$
(0.41
)
 
$
(0.40
)
 
$
0.01

 
$
(1.19
)
 
$
(1.16
)
 
$
0.03

Diluted earnings/(loss) per common share
$
(0.41
)
 
$
(0.40
)
 
$
0.01

 
$
(1.19
)
 
$
(1.16
)
 
$
0.03

Schedule of Prior Period Adjustments Made to Consolidated Statements of Comprehensive Income Loss [Table Text Block]
Consolidated Statements of Comprehensive Income/(Loss)
 
Three Months Ended
 
Nine Months Ended
 
October 28, 2017
 
October 28, 2017
($ in millions)
Previously Reported
 
As Adjusted
 
Effect of Change
 
Previously Reported
 
As Adjusted
 
Effect of Change
Net income/(loss)
$
(128
)
 
$
(125
)
 
$
3

 
$
(370
)
 
$
(360
)
 
$
10

Schedule of Prior Period Adjustments Made to Consolidated Balance Sheet [Table Text Block]
Consolidated Balance Sheets
 
October 28, 2017
 
February 3, 2018
($ in millions)
Previously Reported
 
As Adjusted
 
Effect of Change
 
Previously Reported
 
As Adjusted
 
Effect of Change
Merchandise inventory
$
3,365

 
$
3,406

 
$
41

 
$
2,762

 
$
2,803

 
$
41

Other accounts payable and accrued expenses
1,056

 
1,081

 
25

 
1,119

 
1,156

 
37

Reinvested earnings/(accumulated deficit)
(3,376
)
 
(3,360
)
 
16

 
(3,122
)
 
(3,118
)
 
4

Schedule of Prior Period Adjustments Made to Consolidated Statements of Cash Flows [Table Text Block]
Consolidated Statements of Cash Flows
 
Nine Months Ended
 
October 28, 2017
($ in millions)
Previously Reported
 
As Adjusted
 
Effect of Change
Cash flows from operating activities:
 
 
 
 
 
Net income/(loss)
$
(370
)
 
$
(360
)
 
$
10

Inventory
(511
)
 
(510
)
 
1

Accrued expenses and other
(88
)
 
(99
)
 
(11
)