XML 91 R12.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Additional Financial Statement Information | 12 Months Ended
--- | ---
Feb. 02, 2013
Additional Financial Statement Information [Abstract] |
Additional Financial Information Disclosure [Text Block] | Note 2. Additional Financial Statement Information Cash and Cash Equivalents and Short-Term Investments Cash and cash equivalents and short-term investments consist of the following:
($ in millions) |  | February 2, 2013 |  | January 28, 2012
Cash (1) |  | $ | 942 |  |  | $ | 876 |
Bank certificates of deposit and time deposits |  | 304 |  |  | 685 |
Money market funds |  | 189 |  |  | 224 |
Domestic commercial paper |  | 25 |  |  | 100 |
Cash equivalents |  | 518 |  |  | 1,009 |
Cash and cash equivalents |  | $ | 1,460 |  |  | $ | 1,885 |
Bank certificates of deposit and time deposits |  | $ | 50 |  |  | $ | — |
Short-term investments |  | $ | 50 |  |  | $ | — |
__________
(1) | Cash includes $71 million and $59 million of amounts in transit from banks for customer credit card and debit card transactions as of February 2, 2013 and January 28, 2012, respectively.
We did not record any impairment charges on our cash equivalents or short-term investments in fiscal 2012, 2011, or 2010. Other Current Assets Other current assets consist of the following:
($ in millions) |  | February 2, 2013 |  | January 28, 2012
Accounts receivable |  | $ | 331 |  |  | $ | 297 |
Current portion of deferred tax assets |  | 220 |  |  | 205 |
Prepaid minimum rent and occupancy expenses |  | 147 |  |  | 144 |
Prepaid income taxes |  | 60 |  |  | 101 |
Derivative financial instruments |  | 49 |  |  | 12 |
Prepaid catalog expenses |  | 4 |  |  | 2 |
Restricted cash |  | — |  |  | 6 |
Other |  | 53 |  |  | 42 |
Other current assets |  | $ | 864 |  |  | $ | 809 |
Property and Equipment Property and equipment are stated at cost less accumulated depreciation and consist of the following:
($ in millions) |  | February 2, 2013 |  | January 28, 2012
Leasehold improvements |  | $ | 3,131 |  |  | $ | 3,168 |
Furniture and equipment |  | 2,464 |  |  | 2,463 |
Land, buildings, and building improvements |  | 1,101 |  |  | 1,096 |
Software |  | 1,078 |  |  | 960 |
Construction-in-progress |  | 136 |  |  | 96 |
Property and equipment, at cost |  | 7,910 |  |  | 7,783 |
Less: Accumulated depreciation |  | (5,291 | ) |  | (5,260 | )
Property and equipment, net of accumulated depreciation |  | $ | 2,619 |  |  | $ | 2,523 |
Depreciation expense for property and equipment was $554 million, $586 million, and $639 million for fiscal 2012, 2011, and 2010, respectively. Interest of $6 million and $4 million related to assets under construction was capitalized in fiscal 2012 and 2011, respectively. No interest related to assets under construction was capitalized in fiscal 2010. We recorded a charge for the impairment of long-lived assets related to our Stores reportable segment of $8 million, $16 million, and $8 million for fiscal 2012, 2011, and 2010, respectively, which is recorded in operating expenses in the Consolidated Statements of Income. Other Long-Term Assets Other long-term assets consist of the following:
($ in millions) |  | February 2, 2013 |  | January 28, 2012
Long-term income tax-related assets |  | $ | 244 |  |  | $ | 258 |
Goodwill |  | 184 |  |  | 99 |
Trade names |  | 92 |  |  | 54 |
Lease rights, key money, and favorable lease assets, net of accumulated amortization of $144 and $140 |  | 31 |  |  | 22 |
Deferred compensation plan assets |  | 27 |  |  | 22 |
Restricted cash |  | 11 |  |  | 11 |
Other indefinite-lived intangible assets |  | 6 |  |  | — |
Intangible assets subject to amortization, net of accumulated amortization of $15 and $14 |  | 3 |  |  | 1 |
Derivative financial instruments |  | 2 |  |  | 1 |
Other |  | 119 |  |  | 122 |
Other long-term assets |  | $ | 719 |  |  | $ | 590 |
Both the cost and accumulated amortization of lease rights and key money are impacted by fluctuations in foreign currency exchange rates. Amortization expense associated with lease rights and key money was $4 million, $4 million, and $5 million in fiscal 2012, 2011, and 2010, respectively. In connection with our acquisition of Intermix, we acquired favorable lease assets of $10 million which will be recognized as rent expense in cost of goods sold and occupancy expenses in the Consolidated Statements of Income over the remaining term of the leases. There was no material rent expense recognized related to the favorable lease assets in fiscal 2012. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consist of the following:
($ in millions) |  | February 2, 2013 |  | January 28, 2012
Accrued compensation and benefits |  | $ | 369 |  |  | $ | 292 |
Unredeemed gift cards, gift certificates, and credit vouchers, net of breakage |  | 232 |  |  | 228 |
Short-term deferred rent and tenant allowances |  | 93 |  |  | 104 |
Insurance liabilities |  | 72 |  |  | 70 |
Sales return allowance |  | 27 |  |  | 21 |
Accrued advertising |  | 26 |  |  | 26 |
Credit card reward points and certificates liability |  | 18 |  |  | 14 |
Derivative financial instruments |  | 14 |  |  | 14 |
Short-term asset retirement obligations |  | 6 |  |  | 9 |
Short-term lease loss reserve |  | 5 |  |  | 5 |
Other |  | 230 |  |  | 215 |
Accrued expenses and other current liabilities |  | $ | 1,092 |  |  | $ | 998 |
The activity related to short-term asset retirement obligations includes adjustments to the asset retirement obligation balance and fluctuations in foreign currency exchange rates. The activity was not material for fiscal 2012 or 2011. No other individual items accounted for greater than five percent of total current liabilities as of February 2, 2013 or January 28, 2012. Lease Incentives and Other Long-Term Liabilities Lease incentives and other long-term liabilities consist of the following:
($ in millions) |  | February 2, 2013 |  | January 28, 2012
Long-term deferred rent, tenant allowances, and unfavorable lease liabilities |  | $ | 750 |  |  | $ | 705 |
Long-term income tax-related liabilities |  | 132 |  |  | 129 |
Long-term asset retirement obligations |  | 49 |  |  | 47 |
Deferred compensation plan liabilities |  | 27 |  |  | 22 |
Long-term lease loss reserve |  | 1 |  |  | 4 |
Other |  | 27 |  |  | 26 |
Lease incentives and other long-term liabilities |  | $ | 986 |  |  | $ | 933 |
The activity related to long-term asset retirement obligations includes adjustments to the asset retirement obligation balance and fluctuations in foreign currency exchange rates. The activity was not material for fiscal 2012 or 2011. In connection with our acquisition of Intermix, we assumed unfavorable lease liabilities of $20 million as a result of leases with terms that were considered unfavorable relative to market terms for similar leases as of the date of acquisition. The unfavorable lease liabilities will be recognized as a reduction of rent expense in cost of goods sold and occupancy expenses in the Consolidated Statements of Income over the remaining term of the leases. There was no material amount recognized in cost of goods sold and occupancy expenses related to the unfavorable lease liabilities in fiscal 2012. Accumulated Other Comprehensive Income Accumulated OCI consists of the following:
($ in millions) |  | February 2, 2013 |  | January 28, 2012
Foreign currency translation, net of tax |  | $ | 158 |  |  | $ | 229 |
Accumulated changes in fair value of derivative financial instruments, net of tax |  | 23 |  |  | — |
Accumulated other comprehensive income |  | $ | 181 |  |  | $ | 229 |
Sales Return Allowance A summary of activity in the sales return allowance account is as follows:
($ in millions) |  | February 2, 2013 |  | January 28, 2012 |  | January 29, 2011
Balance at beginning of fiscal year |  | $ | 21 |  |  | $ | 22 |  |  | $ | 22 |
Additions |  | 845 |  |  | 720 |  |  | 712 |
Returns |  | (839 | ) |  | (721 | ) |  | (712 | )
Balance at end of fiscal year |  | $ | 27 |  |  | $ | 21 |  |  | $ | 22 |
The amount of additions and returns for fiscal 2011 have been corrected in the table above to $720 million and $721 million, respectively, to appropriately reflect sales return allowance activities during fiscal 2011. This correction did not have any impact on the Consolidated Financial Statements for any period reported.

X
- Details
Name: | gps_AdditionalFinancialStatementInformationAbstract
Namespace Prefix: | gps_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosures of supplemental information, including descriptions and amounts, related to the balance sheet, income statement, and/or cash flow statement. + References No definition available. + Details
Name: | us-gaap_AdditionalFinancialInformationDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration