Quarterly report pursuant to Section 13 or 15(d)

Adoption of New Accounting Standards Balance Sheet Impact of Applying the New Lease Standard (Tables)

v3.19.2
Adoption of New Accounting Standards Balance Sheet Impact of Applying the New Lease Standard (Tables)
6 Months Ended
Aug. 03, 2019
Balance Sheet Impact of Applying the New Lease Accounting Standard [Abstract]  
Schedule of Balance Sheet Impact of Applying the New Lease Standard [Table Text Block]
The following table provides the overall unaudited Interim Consolidated Balance Sheet impact of applying the new lease standard effective as of February 3, 2019. Due to the change in accounting for the Home Office sale-leaseback, there was a change in classification of $5 million and $10 million, respectively, in lease costs from Depreciation and amortization and Net interest expense in the prior year period to Selling, general and administrative expenses in the current year quarter and year-to-date period. There was no significant impact to the Company's unaudited Interim Consolidated Statement of Cash Flows.
 
Balance as of February 3, 2019
($ in millions)
Balances removed under prior accounting
 
Balances added/reclassified under new lease standard
 
Net impact of new lease standard
Prepaid expenses and other
$

 
$
(5
)
 
$
(5
)
Property and equipment
153

 

 
(153
)
Operating lease assets

 
910

 
910

Other assets

 
(7
)
 
(7
)
Total assets
$
153

 
$
898

 
$
745

 
 
 
 
 
 
Other accounts payable and accrued expenses
$
4

 
$

 
$
(4
)
Current operating lease liabilities

 
85

 
85

Current portion of finance leases and note payable
5

 

 
(5
)
Noncurrent operating lease liabilities

 
1,074

 
1,074

Long-term finance leases and note payable
203

 

 
(203
)
Deferred taxes
10

 

 
(10
)
Other liabilities
11

 
(208
)
 
(219
)
Reinvested earnings/(accumulated deficit)
80

 
(53
)
 
27

Total liabilities and stockholders’ equity
$
153

 
$
898

 
$
745