XML 43 R12.htm IDEA: XBRL DOCUMENT v3.22.0.1
Revenue Recognition
12 Months Ended
Jan. 29, 2022
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
Accounts Receivable, Net from revenue-generating activities were $64 million as of January 29, 2022 and $51 million as of January 30, 2021. 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 $148 million as of January 29, 2022 and $115 million as of January 30, 2021. The Company recognized $76 million as revenue in 2021 from amounts recorded as deferred revenue at the beginning of the period.
The following table provides a disaggregation of Net Sales for 2021, 2020 and 2019:
202120202019
(in millions)
Stores - U.S. and Canada$5,709 $4,207 $4,212 
Direct - U.S. and Canada1,890 2,003 958 
International (a)283 224 185 
Other (b)— — 50 
Total Net Sales$7,882 $6,434 $5,405 
_______________
(a)Results include royalties associated with franchised store and wholesale sales.
(b)Results for 2019 include wholesale revenues to La Senza, subsequent to the Company's divestiture of the business in 2018.
The Company’s net sales outside of the U.S. include sales from Company-operated stores and e-commerce site 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 $626 million in 2021, $471 million in 2020 and $497 million in 2019.