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Revenue Recognition
 9 Months Ended
Nov. 02, 2024
Revenue Recognition and Deferred Revenue [Abstract]  
Revenue Recognition Revenue Recognition
Accounts receivable, net from revenue-generating activities were $94 million as of November 2, 2024, $84 million as of February 3, 2024 and $84 million as of October 28, 2023. These 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 rewards 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 $170 million as of November 2, 2024, $198 million as of February 3, 2024 and $163 million as of October 28, 2023. The Company recognized $116 million as revenue year-to-date 2024 from amounts recorded as deferred revenue at the beginning of the Company’s fiscal year.
The following table provides a disaggregation of Net Sales for the third quarters of and year-to-date 2024 and 2023:
Third QuarterYear-to-Date
2024202320242023
(in millions)
Stores - U.S. and Canada (a)$1,220 $1,168 $3,425 $3,345 
Direct - U.S. and Canada321 317 879 926 
International (b)69 77 216 246 
Total Net Sales$1,610 $1,562 $4,520 $4,517 
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(a)Results include fulfilled buy online-pick up in store orders.
(b)Results include royalties associated with franchised stores and wholesale sales.
The Company’s Net Sales outside of the U.S. include sales from Company-operated stores and its e-commerce site in Canada, royalties associated with franchised stores and wholesale sales. 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 $163 million and $161 million for the third quarters of 2024 and 2023, respectively, and $452 million and $468 million for year-to-date 2024 and 2023, respectively.