Quarterly report pursuant to Section 13 or 15(d)

Revenue Contract with Customer Liability (Tables)

v3.19.2
Revenue Contract with Customer Liability (Tables)
6 Months Ended
Aug. 03, 2019
Revenue from Contract with Customer [Abstract]  
Contract with Customer, Liability [Table Text Block]
The Company has contract liabilities associated with the sales of gift cards and our customer loyalty program.
The liabilities are included in Other accounts payable and accrued expenses in the unaudited Interim Consolidated Balance Sheets and were as follows:
(in millions)
August 3, 2019
 
August 4, 2018
 
February 2, 2019
Gift cards
$
114

 
$
116

 
$
140

Loyalty rewards
63

 
62

 
60

Total contract liability
$
177

 
$
178

 
$
200


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 six months of 2019 and 2018 are as follows:
(in millions)
2019
 
2018
Beginning balance
$
200

 
$
217

Current period gift cards sold and loyalty reward points earned
182

 
148

Net sales from amounts included in contract liability opening balances
(56
)
 
(59
)
Net sales from current period usage
(149
)
 
(128
)
Ending balance
$
177

 
$
178