XML 23 R11.htm IDEA: XBRL DOCUMENT v3.21.2
Revenue Recognition
 9 Months Ended
Oct. 30, 2021
Revenue Recognition and Deferred Revenue [Abstract]  
Revenue Recognition Revenue Recognition
Accounts receivable, net from revenue-generating activities were $86 million as of October 30, 2021, $51 million as of January 30, 2021 and $82 million as of October 31, 2020. Accounts receivable primarily relate to amounts due from the Company's franchise, license and wholesale partners. Under these arrangements, payment terms are typically 45 to 75 days.
The Company records deferred revenue when cash payments are received in advance of transfer of control of goods or services. Deferred revenue primarily relates to gift cards, loyalty points and direct channel shipments, which are all impacted by seasonal and holiday-related sales patterns. Deferred revenue, which is recorded within Accrued Expenses and Other on the
Consolidated Balance Sheets, was $123 million as of October 30, 2021, $115 million as of January 30, 2021 and $98 million as of October 31, 2020. The Company recognized $66 million as revenue year-to-date 2021 from amounts recorded as deferred revenue at the beginning of the year.
The following table provides a disaggregation of Net Sales for the third quarter and year-to-date 2021 and 2020:
Third QuarterYear-to-Date
2021202020212020
(in millions)
Stores - U.S. and Canada$1,238 $1,202 $3,518 $2,304 
Direct - U.S. and Canada369 446 1,126 1,254 
International (a)74 54 210 158 
Total Net Sales$1,681 $1,702 $4,854 $3,716 
 _______________
(a)Results include royalties associated with franchised store and wholesale sales.

The Company’s net sales outside of the U.S. include sales from company-operated stores in Canada, royalty revenue from franchise and license arrangements and wholesale revenues. Certain of these sales are subject to the impact of fluctuations in foreign currency. The Company’s net sales outside of the U.S. totaled $159 million and $134 million for the third quarter of 2021 and 2020, respectively, and $397 million and $308 million for year-to-date 2021 and 2020, respectively.