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NET SALES | 6 Months Ended
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Jul. 30, 2023
Revenue from Contract with Customer [Abstract] |
Net Sales | NET SALES The following table presents net sales, classified by geography:
| Three Months Ended |  | Six Months Ended
in millions | July 30, 2023 |  | July 31, 2022 |  | July 30, 2023 |  | July 31, 2022
Net sales – in the U.S. | $ | 39,191 |  |  | $ | 40,044 |  |  | $ | 73,698 |  |  | $ | 76,050 |
Net sales – outside the U.S. | 3,725 |  |  | 3,748 |  |  | 6,475 |  |  | 6,650 |
Net sales | $ | 42,916 |  |  | $ | 43,792 |  |  | $ | 80,173 |  |  | $ | 82,700 |
The following table presents net sales by products and services:
| Three Months Ended |  | Six Months Ended
in millions | July 30, 2023 |  | July 31, 2022 |  | July 30, 2023 |  | July 31, 2022
Net sales – products | $ | 41,361 |  |  | $ | 42,348 |  |  | $ | 77,249 |  |  | $ | 79,813 |
Net sales – services | 1,555 |  |  | 1,444 |  |  | 2,924 |  |  | 2,887 |
Net sales | $ | 42,916 |  |  | $ | 43,792 |  |  | $ | 80,173 |  |  | $ | 82,700 |
The following table presents major product lines and the related merchandising departments (and related services):
Major Product Line |  | Merchandising Departments
Building Materials |  | Building Materials, Electrical/Lighting, Lumber, Millwork, and Plumbing
Décor |  | Appliances, Décor/Storage, Flooring, Kitchen and Bath, and Paint
Hardlines |  | Hardware, Indoor Garden, Outdoor Garden, and Tools
The following table presents net sales by major product line (and related services):
| Three Months Ended |  | Six Months Ended
in millions | July 30, 2023 |  | July 31, 2022 |  | July 30, 2023 |  | July 31, 2022
Building Materials | $ | 15,391 |  |  | $ | 15,883 |  |  | $ | 29,470 |  |  | $ | 30,752 |
Décor | 13,411 |  |  | 14,096 |  |  | 25,662 |  |  | 26,970 |
Hardlines | 14,114 |  |  | 13,813 |  |  | 25,041 |  |  | 24,978 |
Net sales | $ | 42,916 |  |  | $ | 43,792 |  |  | $ | 80,173 |  |  | $ | 82,700 |
Deferred Revenue For products and services sold in stores or online, payment is typically due at the point of sale. When we receive payment from customers before the customer has taken possession of the merchandise or the service has been performed, the amount received is recorded as deferred revenue until the sale or service is complete. Such performance obligations are part of contracts with expected original durations of typically three months or less. As of July 30, 2023 and January 29, 2023, deferred revenue for products and services was $2.1 billion and $2.0 billion, respectively. We further record deferred revenue for the sale of gift cards and recognize the associated revenue upon the redemption of those gift cards, which generally occurs within six months of gift card issuance. As of July 30, 2023 and January 29, 2023, our performance obligations for unredeemed gift cards were $1.0 billion and $1.1 billion, respectively. Gift card breakage income, which is our estimate of the portion of our outstanding gift card balance not expected to be redeemed, was immaterial during the three and six months ended July 30, 2023 and July 31, 2022.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org//606/tableOfContent + Details
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