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Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended
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Jan. 29, 2022
Quarterly Financial Data [Abstract] |
Summarized Quarterly Financial Data | The following table provides summarized quarterly financial data for 2021:
| Fiscal Quarter Ended
| May 1, 2021 (a) |  | July 31, 2021 |  | October 30, 2021 (b) |  | January 29, 2022 (c)
| (in millions except per share data)
Net Sales | $ | 1,470 |  |  | $ | 1,704 |  |  | $ | 1,681 |  |  | $ | 3,027 |
Gross Profit | 742 |  |  | 828 |  |  | 839 |  |  | 1,446 |
Operating Income | 337 |  |  | 384 |  |  | 409 |  |  | 879 |
Income from Continuing Operations Before Income Taxes | 119 |  |  | 287 |  |  | 227 |  |  | 790 |
Net Income from Continuing Operations | 91 |  |  | 215 |  |  | 177 |  |  | 592 |
Income (Loss) from Discontinued Operations, Net of Tax | 186 |  |  | 159 |  |  | (89) |  |  | 2 |
Net Income | $ | 277 |  |  | $ | 374 |  |  | $ | 88 |  |  | $ | 594 |
Net Income (Loss) per Basic Share (d) |  |  |  |  |  |  |
Continuing Operations | $ | 0.32 |  |  | $ | 0.78 |  |  | $ | 0.67 |  |  | $ | 2.31 |
Discontinued Operations | 0.67 |  |  | 0.58 |  |  | (0.34) |  |  | 0.01 |
Total Net Income per Basic Share | $ | 0.99 |  |  | $ | 1.36 |  |  | $ | 0.33 |  |  | $ | 2.31 |
Net Income (Loss) per Diluted Share (d) |  |  |  |  |  |  |
Continuing Operations | $ | 0.32 |  |  | $ | 0.77 |  |  | $ | 0.66 |  |  | $ | 2.27 |
Discontinued Operations | 0.66 |  |  | 0.57 |  |  | (0.33) |  |  | 0.01 |
Total Net Income per Diluted Share | $ | 0.97 |  |  | $ | 1.34 |  |  | $ | 0.33 |  |  | $ | 2.28 |
________________ (a)Net Income from Continuing Operations includes the effect of a $105 million pre-tax loss ($80 million after-tax) associated with the early extinguishment of outstanding notes. (b)Net Income from Continuing Operations includes the effect of an $89 million pre-tax loss ($68 million after-tax) associated with the early extinguishment of outstanding notes. (c)Operating Income includes the effect of pre-tax loss related to the write-off of inventory that was destroyed by a tornado at a vendor’s factory of $9 million ($7 million after-tax). (d)Due to changes in stock prices during the year and timing of issuances of shares, the cumulative total of quarterly net income (loss) per share amounts may not equal the net income (loss) per share for the year. The following table provides summarized quarterly financial data for 2020:
| Fiscal Quarter Ended
| May 2, 2020 (a) |  | August 1, 2020 (b) |  | October 31, 2020 (c) |  | January 30, 2021
| (in millions except per share data)
Net Sales | $ | 760 |  |  | $ | 1,253 |  |  | $ | 1,702 |  |  | $ | 2,719 |
Gross Profit | 268 |  |  | 559 |  |  | 863 |  |  | 1,407 |
Operating Income | 36 |  |  | 263 |  |  | 436 |  |  | 870 |
Income (Loss) from Continuing Operations Before Income Taxes | (54) |  |  | 160 |  |  | 265 |  |  | 751 |
Net Income (Loss) from Continuing Operations | — |  |  | 112 |  |  | 196 |  |  | 557 |
Net Income (Loss) from Discontinued Operations, Net of Tax | (297) |  |  | (161) |  |  | 135 |  |  | 302 |
Net Income (Loss) | $ | (297) |  |  | $ | (49) |  |  | $ | 331 |  |  | $ | 859 |
Net Income (Loss) per Basic Share (d) |  |  |  |  |  |  |
Continuing Operations | $ | — |  |  | $ | 0.40 |  |  | $ | 0.70 |  |  | $ | 2.00 |
Discontinued Operations | (1.07) |  |  | (0.58) |  |  | 0.48 |  |  | 1.09 |
Total Net Income (Loss) per Basic Share | $ | (1.07) |  |  | $ | (0.18) |  |  | $ | 1.19 |  |  | $ | 3.08 |
Net Income (Loss) per Diluted Share (d)(e) |  |  |  |  |  |  |
Continuing Operations | $ | — |  |  | $ | 0.40 |  |  | $ | 0.69 |  |  | $ | 1.96 |
Discontinued Operations | (1.07) |  |  | (0.58) |  |  | 0.48 |  |  | 1.07 |
Total Net Income (Loss) per Diluted Share | $ | (1.07) |  |  | $ | (0.18) |  |  | $ | 1.17 |  |  | $ | 3.03 |
________________ (a)Net Income (Loss) from Continuing Operations includes the effect of a $50 million income tax benefit related to the resolution of certain tax matters. (b)Operating Income includes the effect of pre-tax severance and related charges of $30 million ($24 million after-tax). (c)Net Income from Continuing Operations includes the effect of a $53 million pre-tax loss ($40 million after-tax) associated with the early extinguishment of outstanding notes. (d)Due to changes in stock prices during the year and timing of issuances of shares, the cumulative total of quarterly net income (loss) per share amounts may not equal the net income (loss) per share for the year. (e)The cumulative total of quarterly net income (loss) per diluted share amounts does not equal the net income (loss) per diluted share for the year due to the net loss from continuing operations in the first quarter.

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- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=124502072&loc=d3e1280-108306 + Details
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