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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jan. 31, 2021

Accounting Policies [Abstract]

Components of receivables

The components of receivables, net, follow:

in millions			January 31, 2021						February 2, 2020
Card receivables			$	992					$	778
Rebate receivables			987						668
Customer receivables			571						292
Other receivables			442						368
Receivables, net			$	2,992					$	2,106

Summary of property and equipment useful lives

The estimated useful lives of our property and equipment follow:

			Life
Buildings			5 – 45 years
Furniture, fixtures and equipment			2 – 20 years
Leasehold improvements			5 – 45 years

Summary of goodwill

Changes in the carrying amount of our goodwill follow:

in millions			Fiscal						Fiscal
			2020						2019
Goodwill, balance at beginning of year			$	2,254					$	2,252
Acquisitions (1)			4,870						—
Other (2)			2						2
Goodwill, balance at end of year			$	7,126					$	2,254

—————

(1)    Fiscal 2020 includes the preliminary determination of goodwill related to the acquisition of HD Supply. See Note 12 for details regarding the HD Supply acquisition.

(2)     Primarily reflects the impact of foreign currency translation.

Summary of other operating cost and expense

The co-op advertising allowances recorded as an offset to advertising expense follow:

in millions			Fiscal						Fiscal						Fiscal
			2020						2019						2018
Specific, incremental, and identifiable co-op advertising allowances			$	291					$	282					$	235

Gross advertising expense included in SG&A follows:

in millions			Fiscal						Fiscal						Fiscal
			2020						2019						2018
Gross advertising expense			$	1,200					$	1,186					$	1,156

Schedule of finite-lived intangible assets

The gross carrying amount and accumulated amortization relating to intangible assets are as follows:

in millions			January 31, 2021
			Gross Carrying Amount						Accumulated Amortization
Definite-Lived Intangible Assets:
Customer relationships			$	2,965					$	(157)
Trade names			151						(1)
Other			16						(11)
Indefinite-Lived Intangible Assets:
Trade names			649
Total Intangible Assets			$	3,781					$	(169)

Schedule of indefinite-lived intangible assets

The gross carrying amount and accumulated amortization relating to intangible assets are as follows:

in millions			January 31, 2021
			Gross Carrying Amount						Accumulated Amortization
Definite-Lived Intangible Assets:
Customer relationships			$	2,965					$	(157)
Trade names			151						(1)
Other			16						(11)
Indefinite-Lived Intangible Assets:
Trade names			649
Total Intangible Assets			$	3,781					$	(169)

Schedule of estimated future amortization expense

As of January 31, 2021, estimated future amortization expense related to definite-lived intangible assets, including definite-lived intangible assets recognized as part of the HD Supply acquisition based on the preliminary allocation of fair value, was as follows:

in millions
Fiscal 2021			$	176
Fiscal 2022			176
Fiscal 2023			174
Fiscal 2024			174
Fiscal 2025			174
Thereafter			2,089
Total			$	2,963

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