View Filing Data

146,000

Shares of common stock used to satisfy tax withholding obligations

$ 16

$ (1)

(1)

Shares of common stock used to satisfy tax withholding obligations (in shares)

(36,000)

$ (313)

(313)

Reissued - employee stock purchase plan

(6,689,000)

$ 2

Reissued - employee stock purchase plan (in shares)

48,000

Cash dividends declared on common stock ($0.38, and $0.345 per share in 2019 and 2018 respectively)

383

(120)

Change in cash flow hedges, net of tax

(81)

Cumulative effect of the adoption new ASUs | Accounting Standards Update 2014-09 [Member]

(2)

Cumulative effect of the adoption new ASUs | Accounting Standards Update 2016 16 [Member]

Ending Balance at Nov. 03, 2018

$ 864

$ (375)

2,323

(361)

$ 2,451

Ending Balance (in shares) at Nov. 03, 2018

121,500,000

Ending Balance (in treasury shares) at Nov. 03, 2018

(8,110,000)

(8,109,644)

Beginning Balance at Aug. 04, 2018

$ 857

$ (267)

2,232

(340)

$ 2,482

Beginning Balance (in shares) at Aug. 04, 2018

121,497,000

Beginning Balance (in treasury shares) at Aug. 04, 2018

(5,869,000)

3,000

Shares of common stock used to satisfy tax withholding obligations (in shares)

$ 7

(4,000)

$ (108)

(108)

(2,237,000)

Cash dividends declared on common stock ($0.38, and $0.345 per share in 2019 and 2018 respectively)

130

(39)

(23)

Ending Balance at Nov. 03, 2018

$ 864

$ (375)

2,323

(361)

$ 2,451

Ending Balance (in shares) at Nov. 03, 2018

121,500,000

Ending Balance (in treasury shares) at Nov. 03, 2018

(8,110,000)

(8,109,644)

Beginning Balance at Feb. 02, 2019

$ 809

$ (37)

2,104

(370)

$ 2,506

^[1]

Beginning Balance (in shares) at Feb. 02, 2019

112,933,000

Beginning Balance (in treasury shares) at Feb. 02, 2019

(711,000)

(711,024)

Restricted stock issued (in shares)

88,000

Issued under director and stock plans

$ 4

183,000

Shares of common stock used to satisfy tax withholding obligations

$ 19

$ (2)

(2)

Shares of common stock used to satisfy tax withholding obligations (in shares)

(32,000)

$ (300)

(300)

Reissued - employee stock purchase plan

(7,493,000)

$ 6

Reissued - employee stock purchase plan (in shares)

96,000

Cash dividends declared on common stock ($0.38, and $0.345 per share in 2019 and 2018 respectively)

357

(125)

Change in cash flow hedges, net of tax

(16)

(2)

Cumulative effect of the adoption new ASUs

(26)

Ending Balance at Nov. 02, 2019

$ 832

$ (333)

2,310

(382)

$ 2,427

Ending Balance (in shares) at Nov. 02, 2019

113,204,000

Ending Balance (in treasury shares) at Nov. 02, 2019

(8,140,000)

(8,139,520)

Beginning Balance at Aug. 03, 2019

$ 825

$ (155)

2,226

(384)

$ 2,512

Beginning Balance (in shares) at Aug. 03, 2019

113,200,000

Beginning Balance (in treasury shares) at Aug. 03, 2019

(3,579,000)

Issued under director and stock plans

$ 1

4,000

$ 6

$ (178)

(178)

(4,561,000)

Cash dividends declared on common stock ($0.38, and $0.345 per share in 2019 and 2018 respectively)

125

(41)

Change in cash flow hedges, net of tax

(5)

Ending Balance at Nov. 02, 2019

$ 832

$ (333)

$ 2,310

$ (382)

$ 2,427

Ending Balance (in shares) at Nov. 02, 2019

113,204,000

Ending Balance (in treasury shares) at Nov. 02, 2019

(8,140,000)

(8,139,520)

[1]

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Nov. 02, 2019	Nov. 03, 2018
Statement of Stockholders' Equity [Abstract]
Cash dividends declared on common stock, per share	$ 0.38	$ 0.345

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Nov. 02, 2019	Nov. 03, 2018
From operating activities:
Net income	$ 357	$ 383
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	134	133
Non-cash gain	(4)
Share-based compensation expense	19	16
Qualified pension plan contributions	(55)	(128)
Change in assets and liabilities:
Merchandise inventories	(42)	(57)
Accounts payable	12	133
Accrued and other liabilities	(36)
Pension litigation accrual		17
Class counsel fees paid in connection with pension litigation		(97)
Other, net	12	22
Net cash provided by operating activities	397	422
From investing activities:
Capital expenditures	(126)	(153)
Minority investments	(48)	(6)
Insurance proceeds related to loss on property and equipment		2
Net cash used in investing activities	(174)	(157)
From financing activities:
Purchase of treasury shares	(300)	(313)
Dividends paid on common stock	(125)	(120)
Proceeds from exercise of stock options	5	4
Treasury stock reissued under employee stock plan	3	2
Shares of common stock repurchased to satisfy tax withholding obligations	(2)	(1)
Net cash used in financing activities	(419)	(428)
Effect of exchange rate fluctuations on cash, cash equivalents, and restricted cash	(6)	(32)
Net change in cash, cash equivalents, and restricted cash	(202)	(195)
Cash, cash equivalents, and restricted cash at beginning of year	981	1,031
Cash, cash equivalents, and restricted cash at end of period	779	836
Cash paid during the year:
Interest	5	5
Income taxes	$ 163	$ 169

Summary of Significant Accounting Policies

9 Months Ended

Nov. 02, 2019

Summary of Significant Accounting Policies [Abstract]

Summary of Significant Accounting Policies

1. Summary of Significant Accounting Policies

Basis of Presentation

The accompanying condensed consolidated financial statements contained in this report are unaudited. In the opinion of management, the condensed consolidated financial statements include all normal, recurring adjustments necessary for a fair presentation of the results for the interim periods presented. As used in these Notes to Condensed Consolidated Financial Statements (Unaudited) the terms “Foot Locker,” “Company,” “we,” “our,” and “us” refer to Foot Locker, Inc. and its consolidated subsidiaries.

The preparation of financial statements in accordance with generally accepted accounting principles (“GAAP”) requires us to make estimates and assumptions that affect the amounts reported in the accompanying Condensed Consolidated Financial Statements (Unaudited) and these Notes and related disclosures. Actual results may differ from those estimates. The results of operations for any interim period are not necessarily indicative of the results expected for the year. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the Notes to Consolidated Financial Statements contained in Foot Locker, Inc.’s Form 10-K for the year ended February 2, 2019, as filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 2, 2019.

Other than the changes to the Leases policies as a result of the recently adopted accounting standards discussed below, there were no significant changes to the policies disclosed in Note 1, Summary of Significant Accounting Policies of our Annual Report on Form 10-K for the year ended February 2, 2019.

Recent Accounting Pronouncements

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). This ASU requires lessees to recognize a lease liability and a right-of-use asset on a discounted basis, for substantially all leases, as well as additional disclosures regarding leasing arrangements. In July 2018, the FASB issued ASU 2018-11, Leases (Topic 842): Targeted improvements, which provides an optional transition method of applying the new lease standard. Topic 842 can be applied using either a modified retrospective approach at the beginning of the earliest period presented, or as permitted by ASU 2018-11, at the beginning of the period in which it is adopted.

The Company adopted Topic 842 on February 3, 2019 (the “effective date”) using the optional transition method, which applies Topic 842 at the beginning of the period in which it is adopted. Prior period amounts have not been adjusted in connection with the adoption of this standard. The Company elected the package of practical expedients under the new standard, which permits companies to not reassess lease classification, lease identification, or initial direct costs for existing or expired leases prior to the effective date. We have lease agreements with non-lease components that relate to the lease components. The Company elected the practical expedient to account for non-lease components and the lease components to which they relate, as a single lease component for all classes of underlying assets. Also, the Company elected to keep short-term leases with an initial term of twelve months or less off the balance sheet.

Upon adoption of this new standard, as of February 3, 2019, the Company recorded right-of-use assets and lease obligations on the Condensed Consolidated Balance Sheet for our operating leases of $3,148 million and $3,422 million, respectively. As part of adopting the standard, previously recognized liabilities for deferred rent and lease incentives were reclassified as a component of the right-of-use assets. Additionally upon adoption, we evaluated right-of-use assets for impairment and determined that approximately $29 million of impairment was required related to newly recognized right-of-use assets that would have been impaired in previous periods. This impairment of the right-of-use asset as of February 3, 2019 was recorded, net of related income tax effects, as a $26 million reduction of beginning retained earnings. The standard did not significantly affect our Condensed Consolidated Statements of Operations, Comprehensive Income, or Cash Flows.

Other recently issued accounting pronouncements did not, or are not believed by management to, have a material effect on the Company’s present or future consolidated financial statements.

Revenue

9 Months Ended

Nov. 02, 2019

Revenue [Abstract]

Revenue

2. Revenue

Store revenue is recognized at the point of sale and includes merchandise, net of returns, and excludes taxes. Revenue from layaway sales is recognized when the customer receives the product, rather than when the initial deposit is paid. Revenue for merchandise that is shipped to our customers from our distribution centers and stores is recognized upon shipment.

Total revenue recognized includes shipping and handling fees. We have determined that control of the promised good is passed to the customer upon shipment, since the customer has legal title, the rewards of ownership, and has paid for the merchandise as of the shipment date. Shipping and handling is accounted for as a fulfillment activity. The Company accrues the cost and recognizes revenue for these activities upon shipment.

Sales disaggregated based upon sales channel is presented below.


	Thirteen weeks ended				Thirty-nine weeks ended
	November 2,		November 3,		November 2,		November 3,
	2019		2018		2019		2018
	($ in millions)
Sales by Channel
Stores	$	1,636	$	1,591	$	4,915	$	4,876
Direct-to-customers		296		269		869		791
Total sales	$	1,932	$	1,860	$	5,784	$	5,667

Sales disaggregated based upon geographic area is presented in the table below. Sales are attributable to the geographic area in which the sales transaction is fulfilled.


	Thirteen weeks ended				Thirty-nine weeks ended
	November 2,		November 3,		November 2,		November 3,
	2019		2018		2019		2018
	($ in millions)
Sales by Geography
United States	$	1,361	$	1,297	$	4,122	$	4,018
International		571		563		1,662		1,649
Total sales	$	1,932	$	1,860	$	5,784	$	5,667

Contract Liabilities

The Company sells gift cards which do not have expiration dates. Revenue from gift card sales is recorded when the gift cards are redeemed by customers. Breakage income is recognized as revenue, in proportion to the pattern of rights exercised by the customer. The table below presents the activity of our gift card liability balance:


		($ in millions)
Balance at February 3, 2019	$	35
Redemptions		(70)
Breakage recognized in sales		(4)
Activations		66
Foreign currency fluctuations		(1)
Balance at November 2, 2019	$	26

The Company elected not to disclose the information about remaining performance obligations since the amount of gift cards redeemed after 12 months is not significant.

Segment Information

9 Months Ended

Nov. 02, 2019

Segment Information [Abstract]

Segment Information

3. Segment Information

The Company has integrated all available shopping channels including stores, websites, apps, social channels, and catalogs. Store sales are primarily fulfilled from the store’s inventory but may also be shipped from any of our distribution centers or from a different store location if an item is not available at the original store. Direct-to-customer orders are primarily shipped to our customers through our distribution centers but may also be shipped from any store or a combination of our distribution centers and stores depending on the availability of particular items.

Our operating segments are identified according to how our business activities are managed and evaluated by our chief operating decision maker, our CEO. During 2018, the Company expanded into Asia and launched our digital channels across Singapore, Hong Kong, and Malaysia. During the first quarter of 2019, the Company changed its organizational and internal reporting structure in order to support an accelerated growth strategy for the region. We opened an Asian headquarters in Singapore and realigned our organization into three distinct geographic regions: Europe, Middle East and Africa (“EMEA”), Asia Pacific, and North America.

In light of these changes, the Company re-evaluated its operating segments in the first quarter of 2019. The Company has determined that it has three operating segments, North America, EMEA, and Asia Pacific. Our North America operating segment includes the results of the following banners operating in the U.S. and Canada: Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, and Footaction, including each of their related e-commerce businesses, as well as our Eastbay business that includes internet, catalog, and team sales. Our EMEA operating segment includes the results of the following banners operating in Europe: Foot Locker, Runners Point, Sidestep, and Kids Foot Locker, including each of their related e-commerce businesses. Our Asia Pacific operating segment includes the results of Foot Locker and Kids Foot Locker and the related e-commerce businesses operating in Australia, New Zealand, and Asia. We have further aggregated these operating segments into one reportable segment based upon their shared customer base and similar economic characteristics.

The Company evaluates performance based on several factors, of which the primary financial measure is the banner’s financial results referred to as division profit. Division profit reflects income before income taxes, litigation and other charges, corporate expense, non-operating income, and net interest income.

The following table summarizes our results:


	Thirteen weeks ended				Thirty-nine weeks ended
	November 2,		November 3,		November 2,		November 3,
	2019		2018		2019		2018
	($ in millions)
Sales	$	1,932	$	1,860	$	5,784	$	5,667

Operating Results
Division profit		184		165		549		543
Less: Litigation and other charges ⁽¹⁾		1		2		16		17
Less: Corporate expense ⁽²⁾		19		19		60		46
Income from operations		164		144		473		480
Interest income, net		3		2		9		5
Other income		4		—		8		5
Income before income taxes	$	171	$	146	$	490	$	490

(1)

The Company recorded pre-tax charges of $1 million and $2 million for the thirteen weeks ended November 2, 2019 and November 3, 2018, respectively, related to a pension litigation matter and related plan reformation. For the thirty-nine weeks ended November 2, 2019, the Company recorded pre-tax charges of $16 million reflecting $3 million of professional fees in connection with the plan reformation and $13 million of lease termination costs related to the closure of certain of its SIX:02 locations. For the thirty-nine weeks ended November 3, 2018, the Company recorded pre-tax charges of $17 million related to the pension matter reflecting adjustments to the value of the judgment and interest that continued to accrue, as required by the provisions of the plan reformation.

(2)

Corporate expense consists of unallocated selling, general and administrative expenses as well as depreciation and amortization related to the Company’s corporate headquarters, centrally managed departments, unallocated insurance and benefit programs, certain foreign exchange transaction gains and losses, and other items.

Cash, Cash Equivalents, and Restricted Cash

9 Months Ended

Nov. 02, 2019

Restricted Cash [Abstract]

Cash, Cash Equivalents, and Restricted Cash

4. Cash, Cash Equivalents, and Restricted Cash

The following table provides a reconciliation of cash and cash equivalents, as reported on our condensed consolidated balance sheets, to cash, cash equivalents, and restricted cash, as reported on our condensed consolidated statements of cash flows.


	November 2,		November 3,		February 2,
	2019		2018		2019
	($ in millions)
Cash and cash equivalents	$	744	$	748	$	891
Restricted cash included in other current assets		5		2		59
Restricted cash included in other non-current assets		30		86		31
Cash, cash equivalents, and restricted cash	$	779	$	836	$	981

During 2017, in connection with the pension litigation matter, the Company deposited $150 million in a qualified settlement fund. At November 3, 2018, the amount remaining in the fund was $54 million and was classified as part of non-current assets. At February 2, 2019, the fund was classified as a current asset due to our intention to use it to contribute to the pension plan. During 2018 and in March 2019, the Company used substantially all of the qualified settlement fund to pay class counsel fees and to make a contribution to the pension plan.

Other amounts included in restricted cash primarily relate to amounts held in escrow in connection with various leasing arrangements in Europe and deposits held in insurance trusts to satisfy the requirement to collateralize part of the self-insured workers’ compensation and liability claims.

The Company has elected to present book overdrafts, representing checks issued but still outstanding in excess of bank balances, as part of accounts payable.

Goodwill

9 Months Ended

Nov. 02, 2019

Goodwill and Other Intangible Assets, Net [Abstract]

Goodwill

5. Goodwill

Annually during the first quarter, or more frequently if impairment indicators arise, the Company reviews goodwill and intangible assets with indefinite lives for impairment.

In light of the change in our organizational and internal reporting structure in the first quarter of 2019, we have reassessed our reporting units and have determined that the collective omni-channel banners in North America, EMEA, and Asia Pacific are the three reporting units at which goodwill is reviewed.

Accordingly, goodwill was re-allocated between the affected reporting units based on their relative fair values. We conducted the annual impairment review both before and after this change and neither review resulted in the recognition of impairment, as the fair value of each reporting unit exceeded its carrying value.

Other Intangible Assets, Net

9 Months Ended

Nov. 02, 2019

Goodwill and Other Intangible Assets, Net [Abstract]

Other Intangible Assets, Net

6. Other Intangible Assets, net

The components of finite-lived intangible assets and intangible assets not subject to amortization are as follows:


		November 2, 2019						November 3, 2018						February 2, 2019
	Gross		Accum.		Net		Gross		Accum.		Net		Gross		Accum.		Net
($ in millions)	value		amort.		value		value		amort.		value		value		amort.		value
Amortized intangible assets: ⁽¹⁾
Lease acquisition costs	$	117	$	(109)	$	8	$	121	$	(111)	$	10	$	120	$	(111)	$	9
Trademarks / trade names		20		(16)		4		20		(15)		5		20		(15)		5
Favorable leases		-		-		-		7		(6)		1		7		(6)		1
	$	137	$	(125)	$	12	$	148	$	(132)	$	16	$	147	$	(132)	$	15

Indefinite life intangible assets: ^{(1), (2)}
Runners Point Group trademarks / trade names					$	9					$	23					$	9
Other intangible assets, net					$	21					$	39					$	24

(1)	The change in the ending balances reflects the effect of foreign currency fluctuations due primarily to movements of the euro in relation to the U.S. dollar.

(2)	During the fourth quarter of 2018, the Company recorded a non-cash impairment charge of $15 million related to these intangibles.

The annual review of intangible assets with indefinite lives performed during the first quarter of 2019 did not result in the recognition of impairment.

Amortization expense recorded is as follows:


	Thirteen weeks ended					Thirty-nine weeks ended
($ in millions)	November 2, 2019		November 3, 2018			November 2, 2019	November 3, 2018
Amortization expense	$	1	$	1	$	3	$	3

Estimated future amortization expense for finite-life intangible assets is as follows:


	($ in millions)
Remainder of 2019	$	1
2020		3
2021		2
2022		2
2023		2
2024		2

Leases

9 Months Ended

Nov. 02, 2019

Leases [Abstract]

Leases

7. Leases

The Company is obligated under operating leases for almost all of its store properties. In addition, the Company leases certain warehouse distribution centers. Operating lease periods generally range from 5 to 10 years and generally contain rent escalation provisions. Some of the store leases contain renewal options with varying terms and conditions. The Company’s lease term includes options to extend or terminate a lease only when it is reasonably certain that it will exercise that option.

The Company combines lease components (e.g. rental payments) and non-lease components (e.g. common area maintenance costs and utilities). Leases with an initial term of 12 months or less are not recorded on the balance sheet. We recognize lease expense for short-term leases on a straight-line basis over the lease term.

Right-of-use assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term for those arrangements where there is an identified asset and the contract conveys the right to control its use.

As most of our leases do not provide an implicit interest rate, the Company uses its incremental borrowing rates based on the remaining lease term to determine the present value of future lease payments. The Company's incremental borrowing rate for a lease is the rate of interest it would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms.

Amounts recognized in the Condensed Consolidated Balance Sheet related to operating leases as of November 2, 2019 were as follows:


	($ in millions)
Assets
Operating lease right-of-use assets	$	2,956

Liabilities
Current
Operating lease liabilities		508
Noncurrent
Operating lease liabilities		2,719
Total lease liabilities	$	3,227

Other information related to operating leases as of November 2, 2019 consisted of the following:


Weighted average remaining lease term (years)	7.1
Weighted average discount rate	5.4	%

The components of lease cost as of November 2, 2019 were as follows:


	Thirteen weeks ended		Thirty-nine weeks ended
($ in millions)	November 2, 2019		November 2, 2019
Operating lease costs ⁽¹⁾	$	168	$	499
Variable lease costs ⁽²⁾		84		249
Short-term lease costs		5		19
Sublease income		(1)		(1)
Net lease cost	$	256	$	766

(1)	Primarily relate to retail stores and distribution centers, for which the expenses are classified within cost of sales. Operating lease costs for non-store rents are included in SG&A.

⁽²⁾	Primarily include rent payments based on a percentage of store sales, common area maintenance costs, and taxes. These costs are expensed as incurred and are included within cost of sales.

Rent expense for the prior year comparative periods is accounted for under previous lease guidance. Rent expense for operating leases for the thirteen weeks ended November 3, 2018 amounted to $185 million and consisted of minimum and contingent rentals of $182 million and $6 million, respectively, less sublease income of $3 million. For the thirty-nine weeks ended November 3, 2018, rent expense for operating leases amounted to $562 million and consisted of minimum and contingent rentals of $547 million and $19 million, respectively, less sublease income of $4 million. Also, most of the Company’s leases require the payment of certain executory costs such as insurance, maintenance, and other costs in addition to the future minimum lease payments. These costs, including the amortization of lease rights, totaled $37 million and $111 million for the thirteen and thirty-nine weeks ended November 3, 2018, respectively.

Supplemental cash flow information related to leases for the thirty-nine weeks ended November 2, 2019 was as follows:


	($ in millions)
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows used in operating leases	$	506
Right-of-use assets obtained in exchange for lease obligations:
Operating leases		211

Maturities of lease liabilities as of November 2, 2019 are as follows:


	($ in millions)
Remainder of 2019	$	173
2020		655
2021		607
2022		550
2023		479
Thereafter		1,479
Total lease payments		3,943
Less: Interest		716
Total lease liabilities	$	3,227

As of November 2, 2019, the Company signed operating leases for retail stores that had not yet commenced; the total future undiscounted lease payments under these leases are $71 million.

As of February 2, 2019, the estimated future minimum non-cancellable lease commitments were as follows:


	($ in millions)
2019	$	672
2020		631
2021		583
2022		527
2023		456
Thereafter		1,408
Total operating lease commitments	$	4,277

Accumulated Other Comprehensive Loss

9 Months Ended

Nov. 02, 2019

Accumulated Other Comprehensive Loss [Abstract]

Accumulated Other Comprehensive Loss

8. Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss (“AOCL”), net of tax, is comprised of the following:


	November 2,		November 3,		February 2,
	2019		2018		2019
	($ in millions)
Foreign currency translation adjustments	$	(100)	$	(90)	$	(84)
Cash flow hedges		(2)		1		—
Unrecognized pension cost and postretirement benefit		(280)		(272)		(286)
	$	(382)	$	(361)	$	(370)

The changes in AOCL for the thirty-nine weeks ended November 2, 2019 were as follows:


	Foreign				Items Related
	Currency				to Pension and
	Translation		Cash Flow		Postretirement
($ in millions)	Adjustments		Hedges		Benefits		Total
Balance as of February 2, 2019	$	(84)	$	—	$	(286)	$	(370)

OCI before reclassification		(16)		(2)		—		(18)
Amortization of pension actuarial (gain)/loss, net of tax		—		—		6		6
Other comprehensive income		(16)		(2)		6		(12)
Balance as of November 2, 2019	$	(100)	$	(2)	$	(280)	$	(382)

Reclassifications from AOCL for the thirty-nine weeks ended November 2, 2019 were as follows:


	($ in millions)
Amortization of actuarial (gain) loss:
Pension benefits- amortization of actuarial loss	$	9
Postretirement benefits- amortization of actuarial gain		(1)
Net periodic benefit cost (see Note 11)		8
Income tax benefit		(2)
Total, net of tax	$	6

Fair Value Measurements

9 Months Ended

Nov. 02, 2019

Fair Value Measurements [Abstract]

Fair Value Measurements

9. Fair Value Measurements

The Company’s financial assets are recorded at fair value, using a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. The three levels of inputs used to measure fair value are categorized as follows:

Level 1 –

Quoted prices for identical instruments in active markets.

Level 2 –

Observable inputs other than quoted prices included within Level 1, including quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs or significant value-drivers are observable in active markets.

Level 3 –

Model-derived valuations in which one or more significant inputs or significant value-drivers are unobservable.

The fair values of the Company’s equity investments are determined by using quoted prices for identical or similar instruments in markets that are not active and therefore are classified as Level 2. The fair value of the auction rate security, classified as available-for-sale, is determined by using quoted prices for similar instruments in active markets and accordingly is classified as a Level 2 instrument. The Company’s derivative financial instruments are valued using market-based inputs to valuation models. These valuation models require a variety of inputs, including contractual terms, market prices, yield curves, and measures of volatility and therefore are classified as Level 2 instruments.

The following table provides a summary of the Company’s recognized assets and liabilities that are measured at fair value on a recurring basis:


	November 2, 2019						November 3, 2018						February 2, 2019
	($ in millions)
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Assets
Equity investments	$	—	$	136	$	—	$	—	$	21	$	—	$	—	$	94	$	—
Available-for-sale security		—		6		—		—		6		—		—		6		—
Foreign exchange forward contracts		—		—		—		—		1		—		—		—		—
Total Assets	$	—	$	142	$	—	$	—	$	28	$	—	$	—	$	100	$	—

Liabilities
Foreign exchange forward contracts		—		2		—		—		—		—		—		1		—
Total Liabilities	$	—	$	2	$	—	$	—	$	—	$	—	$	—	$	1	$	—

There were no transfers into or out of Level 1, Level 2, or Level 3 assets and liabilities for any of the periods presented.

The fair value of long-term debt is determined by using model-derived valuations in which all significant inputs or significant value drivers are observable in active markets and therefore are classified as Level 2. The carrying value and estimated fair value of long-term debt were as follows:


	November 2,		November 3,		February 2,
	2019		2018		2019
	($ in millions)
Carrying value	$	122	$	124	$	124
Fair value	$	135	$	138	$	136

The carrying values of cash and cash equivalents, and other current receivables and payables approximate their fair value.

Pension and Postretirement Plans [Abstract]

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Earnings Per Share

9 Months Ended

Nov. 02, 2019

Earnings Per Share [Abstract]

Earnings Per Share

10. Earnings Per Share

The Company accounts for and discloses earnings per share using the treasury stock method. Basic earnings per share is computed by dividing net income for the period by the weighted-average number of common shares outstanding at the end of the period. Restricted stock awards, which contain non-forfeitable rights to dividends, are considered participating securities and are included in the calculation of basic earnings per share.

Diluted earnings per share reflects the weighted-average number of common shares outstanding during the period used in the basic earnings per share computation plus dilutive common stock equivalents.

The computation of basic and diluted earnings per share is as follows:


	Thirteen weeks ended				Thirty-nine weeks ended
	November 2,		November 3,		November 2,		November 3,
	2019		2018		2019		2018
	(in millions, except per share data)
Net Income	$	125	$	130	$	357	$	383

Weighted-average common shares outstanding		106.9		114.5		110.0		116.6
Dilutive effect of potential common shares		0.3		0.5		0.5		0.5
Weighted-average common shares outstanding assuming dilution		107.2		115.0		110.5		117.1

Earnings per share - basic	$	1.16	$	1.14	$	3.24	$	3.29
Earnings per share - diluted	$	1.16	$	1.14	$	3.23	$	3.28

Anti-dilutive share-based awards excluded from diluted calculation		2.4		2.0		2.2		1.9

Restricted stock units related to the Company’s long-term incentive program of 0.7 million and 1.1 million have been excluded from diluted weighted-average shares for the periods ended November 2, 2019 and November 3, 2018, respectively. The issuance of these shares are contingent on the Company’s performance metrics as compared to the pre-established performance goals, which have not been achieved.

Pension and Postretirement Plans

9 Months Ended

Nov. 02, 2019

Pension and Postretirement Plans

11. Pension and Postretirement Plans

The Company has defined benefit pension plans covering certain of its North American employees, which are funded in accordance with the provisions of the laws where the plans are in effect. The Company also has a defined benefit pension plan covering certain employees of the Runners Point Group. In addition to providing pension benefits, the Company sponsors postretirement medical and life insurance plans, which are available to most of its retired U.S. employees. These medical and life insurance plans are contributory and are not funded. The components of net periodic pension benefit cost and net periodic postretirement benefit income are included in the table below. Service cost is recognized as part of SG&A, while the remaining pension and postretirement expense components are recognized as part of other income.


	Pension Benefits								Postretirement Benefits
	Thirteen weeks ended				Thirty-nine weeks ended					Thirteen weeks ended			Thirty-nine weeks ended
		Nov. 2		Nov. 3		Nov. 2		Nov. 3		Nov. 2		Nov. 3		Nov. 2		Nov. 3
		2019		2018		2019		2018		2019		2018		2019		2018
	($ in millions)
Service cost	$	5	$	5	$	15	$	14	$	—	$	—	$	—	$	—
Interest cost		7		8		20		21		—		—		—		—
Expected return on plan assets		(9)		(10)		(27)		(29)		—		—		—		—
Amortization of net loss (gain)		3		3		9		9		—		—		(1)		(1)
Net benefit expense (income)	$	6	$	6	$	17	$	15	$	—	$	—	$	(1)	$	(1)

In March 2019, the Company contributed $55 million to its U.S. qualified pension plan. The Company continually evaluates the amount and timing of any future contributions.

In May 2019, the U.S. qualified pension plan was amended such that all employees who are not participants in the plan as of December 31, 2019, shall not become participants after such date. All benefit accruals will be frozen as of December 31, 2019 for all plan participants with less than eleven years of service as of December 31, 2019. For participants with more than eleven years of service, benefit accruals will be frozen as of December 31, 2022. Participants will continue to accrue interest in accordance with the plan’s provisions.

Share-Based Compensation

9 Months Ended

Nov. 02, 2019

Share-Based Compensation [Abstract]

Share-Based Compensation

12. Share-Based Compensation

Total compensation expense included in SG&A, and the associated tax benefits recognized related to the Company’s share-based compensation plans, were as follows:


	Thirteen weeks ended				Thirty-nine weeks ended
	November 2,		November 3,		November 2,		November 3,
	2019		2018		2019		2018
		($ in millions)
Options and shares purchased under the employee stock purchase plan	$	1	$	2	$	5	$	5
Restricted stock and restricted stock units		5		5		14		11
Total share-based compensation expense	$	6	$	7	$	19	$	16

Tax benefit recognized	$	1	$	1	$	2	$	2

Valuation Model and Assumptions

The Company uses the Black-Scholes option-pricing model to estimate the fair value of share-based awards. The Black-Scholes option-pricing model incorporates various and subjective assumptions, including expected term and expected volatility.

The following table shows the Company’s assumptions used to compute share-based compensation expense for awards granted during the thirty-nine weeks ended November 2, 2019 and November 3, 2018:


		Stock Option Plans						Stock Purchase Plan
	November 2,			November 3,			November 2,			November 3,
	2019			2018			2019			2018
Weighted-average risk free rate of interest		2.2	%		2.7	%		2.3	%		1.8	%
Expected volatility		38	%		37	%		55	%		47	%
Weighted-average expected award life (in years)		5.5			5.5			1.0			1.0
Dividend yield		2.6	%		3.1	%		3.0	%		2.4	%
Weighted-average fair value	$	17.07		$	12.42		$	18.12		$	15.16

The information in the following table covers option activity under the Company’s stock option plans for the thirty-nine weeks ended November 2, 2019:


			Weighted-		Weighted-
	Number		Average		Average
	of		Remaining		Exercise
	Shares		Contractual Life		Price
	(in thousands)		(in years)		(per share)
Options outstanding at the beginning of the year		2,861			$	52.34
Granted		321				58.65
Exercised		(168)				27.12
Expired or cancelled		(101)				60.80
Options outstanding at November 2, 2019		2,913		6.0	$	54.19
Options exercisable at November 2, 2019		2,168		5.1	$	53.66
Options available for future grant at November 2, 2019		7,392

The total fair value of options vested during the thirty-nine weeks ended November 2, 2019 and November 3, 2018 was $6 million and $8 million, respectively. The cash received from option exercises was not significant for the thirteen weeks ended November 2, 2019 and $5 million for the thirty-nine weeks ended November 2, 2019. The total tax benefit realized from option exercises was not significant for the thirteen weeks ended November 2, 2019 and $1 million for the thirty-nine weeks ended November 2, 2019.

The total intrinsic value of options exercised (the difference between the market price of the Company’s common stock on the exercise date and the price paid by the optionee to exercise the option) is presented below:


	Thirteen weeks ended				Thirty-nine weeks ended
	November 2,		November 3,		November 2,		November 3,
	2019		2018		2019		2018
		($ in millions)
Exercised	$	—	$	—	$	5	$	3

The aggregate intrinsic value for stock options outstanding, and outstanding and exercisable (the difference between the Company’s closing stock price on the last trading day of the period and the exercise price of the options, multiplied by the number of in-the-money stock options) is presented below:

As of November 2, 2019 there was $5 million of total unrecognized compensation cost related to nonvested stock options, which is expected to be recognized over a remaining weighted-average period of 1.4 years.

The following table summarizes information about stock options outstanding and exercisable at November 2, 2019:


	Options Outstanding				Options Exercisable
		Weighted-
		Average	Weighted-			Weighted-
		Remaining	Average			Average
Range of Exercise	Number	Contractual	Exercise		Number	Exercise
Prices	Outstanding	Life	Price		Exercisable	Price
	(in thousands, except prices per share and contractual life)
$9.85 to $18.84	128	1.3	$	18.54	128	$	18.54
$24.75 to $36.51	378	3.4		32.13	335		31.77
$44.78 to $45.75	577	6.6		44.91	349		44.99
$46.64 to $62.11	942	6.6		59.98	616		60.82
$63.33 to $73.21	888	6.7		68.58	740		67.75
	2,913	6.0	$	54.19	2,168	$	53.66

Restricted Stock Units

Restricted stock units (“RSU”) of the Company’s common stock may be awarded to certain officers and key employees of the Company. Additionally, RSU awards are made to employees in connection with the Company’s long-term incentive program, and to nonemployee directors. Each RSU award represents the right to receive one share of the Company’s common stock provided that the performance and vesting conditions are satisfied.

Generally, awards fully vest after the passage of time, typically three years. However, RSU awards made in connection with the Company’s performance-based long-term incentive program are earned after the attainment of certain performance metrics and, with regards to certain awards, vest after an additional one-year period.

No dividends are paid or accumulated on any RSU awards.

Compensation expense is recognized using the market value at the date of grant and is amortized over the vesting period, provided the recipient continues to be employed by the Company.

RSU activity for the thirty-nine weeks ended November 2, 2019 is summarized as follows:


			Weighted-Average
	Number		Remaining		Weighted-Average
	of		Contractual		Grant Date
	Shares		Life		Fair Value
		(in thousands)		(in years)		(per share)
Nonvested at beginning of year		1,022			$	47.47
Granted ⁽¹⁾		306				58.48
Vested		(88)				60.40
Performance adjustment ⁽²⁾		(27)
Expired or cancelled		(23)				53.15
Nonvested at November 2, 2019		1,190		1.5	$	49.18

Aggregate value ($ in millions)	$	59

(1)	Included in the units granted are approximately 0.2 million performance-based RSUs. The number of performance-based RSUs that are ultimately earned may vary from 0% to 200% of target depending on the achievement relative to the Company’s predefined financial performance targets.

(2)	This represents adjustments made to performance-based RSU awards and reflect changes in estimates based upon the Company’s current performance against predefined financial targets.

The total value of awards that vested during the thirty-nine weeks ended November 2, 2019 and November 3, 2018 was $5 million and $7 million, respectively. As of November 2, 2019, there was $30 million of total unrecognized compensation cost related to nonvested awards.

Legal Proceedings

9 Months Ended

Nov. 02, 2019

Legal Proceedings [Abstract]

Legal Proceedings

13. Legal Proceedings

Legal proceedings pending against the Company or its consolidated subsidiaries consist of ordinary, routine litigation, including administrative proceedings, incidental to the business of the Company or businesses that have been sold or discontinued by the Company in past years. These legal proceedings include commercial, intellectual property, customer, environmental, and employment-related claims. There is a recently filed purported class action against the Company alleging violation of the Americans with Disabilities Act for failing to sell gift cards that contain writing in braille.

Additionally, the Company and certain officers of the Company were defendants in a purported securities law class action in New York. During the third quarter of 2019, the Court granted the Company’s motion to dismiss the class action and the plaintiffs’ time to appeal has expired. The directors and certain officers of the Company were defendants in related derivative actions filed in federal court. The Court ordered the dismissal of plaintiffs’ complaints following the parties’ submission of a joint stipulation to dismiss. The directors and certain officers of the Company were also defendants in a related derivative action filed in state court. The parties submitted a joint stipulation to dismiss and are awaiting the Court’s approval.

Management does not believe that the outcome of any such legal proceedings pending against the Company or its consolidated subsidiaries, as described above, would have a material adverse effect on the Company’s consolidated financial position, liquidity, or results of operations, taken as a whole, based upon current knowledge and taking into consideration current accruals. Litigation is inherently unpredictable. Judgments could be rendered or settlements made that could adversely affect the Company’s operating results or cash flows in a particular period.

Summary of Significant Accounting Policies (Policy)	9 Months Ended
Summary of Significant Accounting Policies (Policy)	Nov. 02, 2019
Summary of Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements contained in this report are unaudited. In the opinion of management, the condensed consolidated financial statements include all normal, recurring adjustments necessary for a fair presentation of the results for the interim periods presented. As used in these Notes to Condensed Consolidated Financial Statements (Unaudited) the terms “Foot Locker,” “Company,” “we,” “our,” and “us” refer to Foot Locker, Inc. and its consolidated subsidiaries. The preparation of financial statements in accordance with generally accepted accounting principles (“GAAP”) requires us to make estimates and assumptions that affect the amounts reported in the accompanying Condensed Consolidated Financial Statements (Unaudited) and these Notes and related disclosures. Actual results may differ from those estimates. The results of operations for any interim period are not necessarily indicative of the results expected for the year. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the Notes to Consolidated Financial Statements contained in Foot Locker, Inc.’s Form 10-K for the year ended February 2, 2019, as filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 2, 2019. Other than the changes to the Leases policies as a result of the recently adopted accounting standards discussed below, there were no significant changes to the policies disclosed in Note 1, Summary of Significant Accounting Policies of our Annual Report on Form 10-K for the year ended February 2, 2019.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). This ASU requires lessees to recognize a lease liability and a right-of-use asset on a discounted basis, for substantially all leases, as well as additional disclosures regarding leasing arrangements. In July 2018, the FASB issued ASU 2018-11, Leases (Topic 842): Targeted improvements, which provides an optional transition method of applying the new lease standard. Topic 842 can be applied using either a modified retrospective approach at the beginning of the earliest period presented, or as permitted by ASU 2018-11, at the beginning of the period in which it is adopted. The Company adopted Topic 842 on February 3, 2019 (the “effective date”) using the optional transition method, which applies Topic 842 at the beginning of the period in which it is adopted. Prior period amounts have not been adjusted in connection with the adoption of this standard. The Company elected the package of practical expedients under the new standard, which permits companies to not reassess lease classification, lease identification, or initial direct costs for existing or expired leases prior to the effective date. We have lease agreements with non-lease components that relate to the lease components. The Company elected the practical expedient to account for non-lease components and the lease components to which they relate, as a single lease component for all classes of underlying assets. Also, the Company elected to keep short-term leases with an initial term of twelve months or less off the balance sheet. Upon adoption of this new standard, as of February 3, 2019, the Company recorded right-of-use assets and lease obligations on the Condensed Consolidated Balance Sheet for our operating leases of $3,148 million and $3,422 million, respectively. As part of adopting the standard, previously recognized liabilities for deferred rent and lease incentives were reclassified as a component of the right-of-use assets. Additionally upon adoption, we evaluated right-of-use assets for impairment and determined that approximately $29 million of impairment was required related to newly recognized right-of-use assets that would have been impaired in previous periods. This impairment of the right-of-use asset as of February 3, 2019 was recorded, net of related income tax effects, as a $26 million reduction of beginning retained earnings. The standard did not significantly affect our Condensed Consolidated Statements of Operations, Comprehensive Income, or Cash Flows. Other recently issued accounting pronouncements did not, or are not believed by management to, have a material effect on the Company’s present or future consolidated financial statements.

Revenue (Tables)

9 Months Ended

Nov. 02, 2019

Revenue [Abstract]

Disaggregation of Revenue


	Thirteen weeks ended				Thirty-nine weeks ended
	November 2,		November 3,		November 2,		November 3,
	2019		2018		2019		2018
	($ in millions)
Sales by Channel
Stores	$	1,636	$	1,591	$	4,915	$	4,876
Direct-to-customers		296		269		869		791
Total sales	$	1,932	$	1,860	$	5,784	$	5,667

Revenue from External Customers by Geographic Areas

Sales disaggregated based upon geographic area is presented in the table below. Sales are attributable to the geographic area in which the sales transaction is fulfilled.


	Thirteen weeks ended				Thirty-nine weeks ended
	November 2,		November 3,		November 2,		November 3,
	2019		2018		2019		2018
	($ in millions)
Sales by Geography
United States	$	1,361	$	1,297	$	4,122	$	4,018
International		571		563		1,662		1,649
Total sales	$	1,932	$	1,860	$	5,784	$	5,667

Activity of Gift Card Liability Balance


		($ in millions)
Balance at February 3, 2019	$	35
Redemptions		(70)
Breakage recognized in sales		(4)
Activations		66
Foreign currency fluctuations		(1)
Balance at November 2, 2019	$	26

Segment Information (Tables)

9 Months Ended

Nov. 02, 2019

Segment Information [Abstract]

Sales and Division Operating Results for Reportable Segments

The following table summarizes our results:


	Thirteen weeks ended				Thirty-nine weeks ended
	November 2,		November 3,		November 2,		November 3,
	2019		2018		2019		2018
	($ in millions)
Sales	$	1,932	$	1,860	$	5,784	$	5,667

Operating Results
Division profit		184		165		549		543
Less: Litigation and other charges ⁽¹⁾		1		2		16		17
Less: Corporate expense ⁽²⁾		19		19		60		46
Income from operations		164		144		473		480
Interest income, net		3		2		9		5
Other income		4		—		8		5
Income before income taxes	$	171	$	146	$	490	$	490

(1)

(2)

Cash, Cash Equivalents, and Restricted Cash (Tables)

9 Months Ended

Nov. 02, 2019

Restricted Cash [Abstract]

Reconciliation of Cash and Cash Equivalents


	November 2,		November 3,		February 2,
	2019		2018		2019
	($ in millions)
Cash and cash equivalents	$	744	$	748	$	891
Restricted cash included in other current assets		5		2		59
Restricted cash included in other non-current assets		30		86		31
Cash, cash equivalents, and restricted cash	$	779	$	836	$	981

Other Intangible Assets, Net (Tables)

9 Months Ended

Nov. 02, 2019

Goodwill and Other Intangible Assets, Net [Abstract]

Components of Finite-Lived Intangible Assets and Intangible Assets Not Subject to Amortization

The components of finite-lived intangible assets and intangible assets not subject to amortization are as follows:


		November 2, 2019						November 3, 2018						February 2, 2019
	Gross		Accum.		Net		Gross		Accum.		Net		Gross		Accum.		Net
($ in millions)	value		amort.		value		value		amort.		value		value		amort.		value
Amortized intangible assets: ⁽¹⁾
Lease acquisition costs	$	117	$	(109)	$	8	$	121	$	(111)	$	10	$	120	$	(111)	$	9
Trademarks / trade names		20		(16)		4		20		(15)		5		20		(15)		5
Favorable leases		-		-		-		7		(6)		1		7		(6)		1
	$	137	$	(125)	$	12	$	148	$	(132)	$	16	$	147	$	(132)	$	15

Indefinite life intangible assets: ^{(1), (2)}
Runners Point Group trademarks / trade names					$	9					$	23					$	9
Other intangible assets, net					$	21					$	39					$	24

(1)	The change in the ending balances reflects the effect of foreign currency fluctuations due primarily to movements of the euro in relation to the U.S. dollar.

(2)	During the fourth quarter of 2018, the Company recorded a non-cash impairment charge of $15 million related to these intangibles.

Amortization Expense

Amortization expense recorded is as follows:


	Thirteen weeks ended					Thirty-nine weeks ended
($ in millions)	November 2, 2019		November 3, 2018			November 2, 2019	November 3, 2018
Amortization expense	$	1	$	1	$	3	$	3

Estimated Future Expected Amortization Expense for Finite Life Intangible Assets

Estimated future amortization expense for finite-life intangible assets is as follows:


	($ in millions)
Remainder of 2019	$	1
2020		3
2021		2
2022		2
2023		2
2024		2

Leases (Tables)

9 Months Ended

Nov. 02, 2019

Leases [Abstract]

Summary of amounts recognized in Condensed Consolidated Balance Sheet related to operating leases

Amounts recognized in the Condensed Consolidated Balance Sheet related to operating leases as of November 2, 2019 were as follows:


	($ in millions)
Assets
Operating lease right-of-use assets	$	2,956

Liabilities
Current
Operating lease liabilities		508
Noncurrent
Operating lease liabilities		2,719
Total lease liabilities	$	3,227

Summary of components of lease cost

The components of lease cost as of November 2, 2019 were as follows:


	Thirteen weeks ended		Thirty-nine weeks ended
($ in millions)	November 2, 2019		November 2, 2019
Operating lease costs ⁽¹⁾	$	168	$	499
Variable lease costs ⁽²⁾		84		249
Short-term lease costs		5		19
Sublease income		(1)		(1)
Net lease cost	$	256	$	766

(1)	Primarily relate to retail stores and distribution centers, for which the expenses are classified within cost of sales. Operating lease costs for non-store rents are included in SG&A.

⁽²⁾	Primarily include rent payments based on a percentage of store sales, common area maintenance costs, and taxes. These costs are expensed as incurred and are included within cost of sales.

Summary of other information related to operating leases


Weighted average remaining lease term (years)	7.1
Weighted average discount rate	5.4	%

Summary of supplemental cash flow information related to leases

Supplemental cash flow information related to leases for the thirty-nine weeks ended November 2, 2019 was as follows:


	($ in millions)
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows used in operating leases	$	506
Right-of-use assets obtained in exchange for lease obligations:
Operating leases		211

Summary of maturities of lease liabilities

Maturities of lease liabilities as of November 2, 2019 are as follows:


	($ in millions)
Remainder of 2019	$	173
2020		655
2021		607
2022		550
2023		479
Thereafter		1,479
Total lease payments		3,943
Less: Interest		716
Total lease liabilities	$	3,227

Summary of estimated future minimum non-cancellable lease commitments


	($ in millions)
2019	$	672
2020		631
2021		583
2022		527
2023		456
Thereafter		1,408
Total operating lease commitments	$	4,277

Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Nov. 02, 2019

Accumulated Other Comprehensive Loss [Abstract]

Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss (“AOCL”), net of tax, is comprised of the following:


	November 2,		November 3,		February 2,
	2019		2018		2019
	($ in millions)
Foreign currency translation adjustments	$	(100)	$	(90)	$	(84)
Cash flow hedges		(2)		1		—
Unrecognized pension cost and postretirement benefit		(280)		(272)		(286)
	$	(382)	$	(361)	$	(370)

Changes in Accumulated Other Comprehensive Loss

The changes in AOCL for the thirty-nine weeks ended November 2, 2019 were as follows:


	Foreign				Items Related
	Currency				to Pension and
	Translation		Cash Flow		Postretirement
($ in millions)	Adjustments		Hedges		Benefits		Total
Balance as of February 2, 2019	$	(84)	$	—	$	(286)	$	(370)

OCI before reclassification		(16)		(2)		—		(18)
Amortization of pension actuarial (gain)/loss, net of tax		—		—		6		6
Other comprehensive income		(16)		(2)		6		(12)
Balance as of November 2, 2019	$	(100)	$	(2)	$	(280)	$	(382)

Reclassification from Accumulated Other Comprehensive Loss

Reclassifications from AOCL for the thirty-nine weeks ended November 2, 2019 were as follows:


	($ in millions)
Amortization of actuarial (gain) loss:
Pension benefits- amortization of actuarial loss	$	9
Postretirement benefits- amortization of actuarial gain		(1)
Net periodic benefit cost (see Note 11)		8
Income tax benefit		(2)
Total, net of tax	$	6

Fair Value Measurements (Tables)

9 Months Ended

Nov. 02, 2019

Fair Value Measurements [Abstract]

Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table provides a summary of the Company’s recognized assets and liabilities that are measured at fair value on a recurring basis:


	November 2, 2019						November 3, 2018						February 2, 2019
	($ in millions)
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Assets
Equity investments	$	—	$	136	$	—	$	—	$	21	$	—	$	—	$	94	$	—
Available-for-sale security		—		6		—		—		6		—		—		6		—
Foreign exchange forward contracts		—		—		—		—		1		—		—		—		—
Total Assets	$	—	$	142	$	—	$	—	$	28	$	—	$	—	$	100	$	—

Liabilities
Foreign exchange forward contracts		—		2		—		—		—		—		—		1		—
Total Liabilities	$	—	$	2	$	—	$	—	$	—	$	—	$	—	$	1	$	—

Carrying Value and Estimated Fair Value of Long-Term Debt


	November 2,		November 3,		February 2,
	2019		2018		2019
	($ in millions)
Carrying value	$	122	$	124	$	124
Fair value	$	135	$	138	$	136

Earnings Per Share (Tables)

9 Months Ended

Nov. 02, 2019

Earnings Per Share [Abstract]

Basic and Diluted Weighted-Average Number of Common Shares Outstanding

The computation of basic and diluted earnings per share is as follows:


	Thirteen weeks ended				Thirty-nine weeks ended
	November 2,		November 3,		November 2,		November 3,
	2019		2018		2019		2018
	(in millions, except per share data)
Net Income	$	125	$	130	$	357	$	383

Weighted-average common shares outstanding		106.9		114.5		110.0		116.6
Dilutive effect of potential common shares		0.3		0.5		0.5		0.5
Weighted-average common shares outstanding assuming dilution		107.2		115.0		110.5		117.1

Earnings per share - basic	$	1.16	$	1.14	$	3.24	$	3.29
Earnings per share - diluted	$	1.16	$	1.14	$	3.23	$	3.28

Anti-dilutive share-based awards excluded from diluted calculation		2.4		2.0		2.2		1.9

Pension and Postretirement Plans (Tables)

9 Months Ended

Nov. 02, 2019

Pension and Postretirement Plans [Abstract]

Net Benefit Expense (Income)


	Pension Benefits								Postretirement Benefits
	Thirteen weeks ended				Thirty-nine weeks ended					Thirteen weeks ended			Thirty-nine weeks ended
		Nov. 2		Nov. 3		Nov. 2		Nov. 3		Nov. 2		Nov. 3		Nov. 2		Nov. 3
		2019		2018		2019		2018		2019		2018		2019		2018
	($ in millions)
Service cost	$	5	$	5	$	15	$	14	$	—	$	—	$	—	$	—
Interest cost		7		8		20		21		—		—		—		—
Expected return on plan assets		(9)		(10)		(27)		(29)		—		—		—		—
Amortization of net loss (gain)		3		3		9		9		—		—		(1)		(1)
Net benefit expense (income)	$	6	$	6	$	17	$	15	$	—	$	—	$	(1)	$	(1)

Share-Based Compensation (Tables)

9 Months Ended

Nov. 02, 2019

Share-Based Compensation [Abstract]

Total Compensation Expense and the Related Tax Benefits Recognized

Total compensation expense included in SG&A, and the associated tax benefits recognized related to the Company’s share-based compensation plans, were as follows:


	Thirteen weeks ended				Thirty-nine weeks ended
	November 2,		November 3,		November 2,		November 3,
	2019		2018		2019		2018
		($ in millions)
Options and shares purchased under the employee stock purchase plan	$	1	$	2	$	5	$	5
Restricted stock and restricted stock units		5		5		14		11
Total share-based compensation expense	$	6	$	7	$	19	$	16

Tax benefit recognized	$	1	$	1	$	2	$	2

Assumptions used to Compute Share-Based Compensation Expense

The following table shows the Company’s assumptions used to compute share-based compensation expense for awards granted during the thirty-nine weeks ended November 2, 2019 and November 3, 2018:


		Stock Option Plans						Stock Purchase Plan
	November 2,			November 3,			November 2,			November 3,
	2019			2018			2019			2018
Weighted-average risk free rate of interest		2.2	%		2.7	%		2.3	%		1.8	%
Expected volatility		38	%		37	%		55	%		47	%
Weighted-average expected award life (in years)		5.5			5.5			1.0			1.0
Dividend yield		2.6	%		3.1	%		3.0	%		2.4	%
Weighted-average fair value	$	17.07		$	12.42		$	18.12		$	15.16

Options Granted under Stock Option Plans

The information in the following table covers option activity under the Company’s stock option plans for the thirty-nine weeks ended November 2, 2019:


			Weighted-		Weighted-
	Number		Average		Average
	of		Remaining		Exercise
	Shares		Contractual Life		Price
	(in thousands)		(in years)		(per share)
Options outstanding at the beginning of the year		2,861			$	52.34
Granted		321				58.65
Exercised		(168)				27.12
Expired or cancelled		(101)				60.80
Options outstanding at November 2, 2019		2,913		6.0	$	54.19
Options exercisable at November 2, 2019		2,168		5.1	$	53.66
Options available for future grant at November 2, 2019		7,392

Total Intrinsic Value of Options Exercised


	Thirteen weeks ended				Thirty-nine weeks ended
	November 2,		November 3,		November 2,		November 3,
	2019		2018		2019		2018
		($ in millions)
Exercised	$	—	$	—	$	5	$	3

Aggregate Intrinsic Value for Stock Options Outstanding and Exercisable

Information about Stock Options Outstanding and Exercisable

The following table summarizes information about stock options outstanding and exercisable at November 2, 2019:


	Options Outstanding				Options Exercisable
		Weighted-
		Average	Weighted-			Weighted-
		Remaining	Average			Average
Range of Exercise	Number	Contractual	Exercise		Number	Exercise
Prices	Outstanding	Life	Price		Exercisable	Price
	(in thousands, except prices per share and contractual life)
$9.85 to $18.84	128	1.3	$	18.54	128	$	18.54
$24.75 to $36.51	378	3.4		32.13	335		31.77
$44.78 to $45.75	577	6.6		44.91	349		44.99
$46.64 to $62.11	942	6.6		59.98	616		60.82
$63.33 to $73.21	888	6.7		68.58	740		67.75
	2,913	6.0	$	54.19	2,168	$	53.66

Restricted Share and Unit Activity

RSU activity for the thirty-nine weeks ended November 2, 2019 is summarized as follows:


			Weighted-Average
	Number		Remaining		Weighted-Average
	of		Contractual		Grant Date
	Shares		Life		Fair Value
		(in thousands)		(in years)		(per share)
Nonvested at beginning of year		1,022			$	47.47
Granted ⁽¹⁾		306				58.48
Vested		(88)				60.40
Performance adjustment ⁽²⁾		(27)
Expired or cancelled		(23)				53.15
Nonvested at November 2, 2019		1,190		1.5	$	49.18

Aggregate value ($ in millions)	$	59

(1)	Included in the units granted are approximately 0.2 million performance-based RSUs. The number of performance-based RSUs that are ultimately earned may vary from 0% to 200% of target depending on the achievement relative to the Company’s predefined financial performance targets.

(2)	This represents adjustments made to performance-based RSU awards and reflect changes in estimates based upon the Company’s current performance against predefined financial targets.

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($)
$ in Millions

9 Months Ended

Feb. 03, 2019

Nov. 02, 2019

Feb. 02, 2019

^[1]

Significant Accounting Policies [Line Items]

Cumulative effect of the adoption new ASUs

$ 26

Operating Lease, Liability

3,227

Operating Lease, Right-of-Use Asset

$ 2,956

Accounting Standards Update 2016 02 [Member]

Significant Accounting Policies [Line Items]

Cumulative effect of the adoption new ASUs

$ 26

Operating Lease, Impairment Loss

Restatement Adjustment [Member] | Accounting Standards Update 2016 02 [Member]

Significant Accounting Policies [Line Items]

Operating Lease, Liability

3,422

Operating Lease, Right-of-Use Asset

$ 3,148

[1]

Revenue (Schedule of Sales Disaggregated by Sales Channel) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 02, 2019	Nov. 03, 2018	Nov. 02, 2019	Nov. 03, 2018
Sales	$ 1,932	$ 1,860	$ 5,784	$ 5,667
Store Sales Channel [Member]
Sales	1,636	1,591	4,915	4,876
Direct to Customers Sales Channel [Member]
Sales	$ 296	$ 269	$ 869	$ 791

Revenue (Schedule of Sales Disaggregated by Geographic Area) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 02, 2019	Nov. 03, 2018	Nov. 02, 2019	Nov. 03, 2018
Sales	$ 1,932	$ 1,860	$ 5,784	$ 5,667
United States of America [Member]
Sales	1,361	1,297	4,122	4,018
International [Member]
Sales	$ 571	$ 563	$ 1,662	$ 1,649

Revenue (Activity of Gift Card Liability Balance) (Details) $ in Millions	9 Months Ended
	Nov. 02, 2019 USD ($)
Accrued gift card liability at beginning of period	$ 35
Foreign currency fluctuations	(1)
Accrued gift card liability at end of period	26
Gift Card Redemption Revenue [Member]
Revenue recognized	(70)
Gift Card Breakage Revenue [Member]
Revenue recognized	(4)
Gift Card Activations [Member]
Activations	$ 66

Segment Information (Narrative) (Details)	9 Months Ended
Segment Information (Narrative) (Details)	Nov. 02, 2019 segment
Segment Information [Abstract]
Operating segments	3
Number of reportable segments	1

Segment Information (Sales and Division Operating Results for Reportable Segments) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 02, 2019	Nov. 03, 2018	Nov. 02, 2019	Nov. 03, 2018
Segment Information [Abstract]
Sales	$ 1,932	$ 1,860	$ 5,784	$ 5,667
Division profit	184	165	549	543
Less: Litigation and other charges	1	2	16	17
Less: Corporate expense	19	19	60	46
Income from operations	164	144	473	480
Interest income, net	3	2	9	5
Other income	4		8	5
Income before income taxes	171	146	490	490
Pension litigation charge	$ 1	$ 2	3	$ 17
Lease termination costs			$ 13

Cash, Cash Equivalents, and Restricted Cash (Reconciliation of Cash and Cash Equivalents) (Details) - USD ($)
$ in Millions

Nov. 02, 2019

Feb. 02, 2019

Nov. 03, 2018

Feb. 03, 2018

Restricted Cash [Abstract]

Cash and cash equivalents

$ 744

$ 891

^[1]

$ 748

Restricted cash included in other current assets

Restricted cash included in other non-current assets

Cash, cash equivalents, and restricted cash

$ 779

$ 981

$ 836

$ 1,031

[1]

Cash, Cash Equivalents, and Restricted Cash (Narrative) (Details) - USD ($) $ in Millions	Nov. 03, 2018	Dec. 31, 2017
Restricted Cash [Abstract]
Qualified Settlement Fund	$ 54	$ 150

Goodwill (Narrative) (Details)	9 Months Ended
Goodwill (Narrative) (Details)	Nov. 02, 2019 segment item
Goodwill and Other Intangible Assets, Net [Abstract]
Number of reportable segments \| segment	1
Number of reporting units \| item	3

Other Intangible Assets, Net (Schedule of Other Intangible Assets) (Details) - USD ($)
$ in Millions

3 Months Ended

Feb. 02, 2019

Nov. 02, 2019

Nov. 03, 2018

$ 147

$ 137

$ 148

(132)

(125)

(132)

Other intangible assets, net

^[1]

Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)

Lease Acquisition Costs [Member]

120

117

121

(111)

(109)

(111)

Trademarks and Trade Names [Member]

(15)

(16)

(15)

Favorable Leases [Member]

(6)

Trademarks and Trade Names [Member]

Indefinite life intangible assets, Net Value

$ 9

$ 23

[1]

Other Intangible Assets, Net (Amortization Expense) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 02, 2019	Nov. 03, 2018	Nov. 02, 2019	Nov. 03, 2018
Goodwill and Other Intangible Assets, Net [Abstract]
Amortization expense	$ 1	$ 1	$ 3	$ 3

Other Intangible Assets, Net (Estimated Future Amortization Expense for Finite Lived Intangibles) (Details) $ in Millions	Nov. 02, 2019 USD ($)
Goodwill and Other Intangible Assets, Net [Abstract]
Remainder of 2019	$ 1
2020	3
2021	2
2022	2
2023	2
2024	$ 2

Leases (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Leases (Narrative) (Details) - USD ($) $ in Millions	Nov. 02, 2019	Nov. 03, 2018	Nov. 02, 2019	Nov. 03, 2018
Schedule Of Operating Leases [Line Items]
Rental expense for operating leases before adoption of 2016-02		$ 185		$ 562
Minimum rentals		182		547
Contingent rentals		6		19
Sublease income	$ 1	3	$ 1	4
Certain executory costs related to leases		$ 37		$ 111
Future undiscounted lease payments	$ 716		$ 716
Minimum [Member]
Schedule Of Operating Leases [Line Items]
Operating lease period	5 years		5 years
Maximum [Member]
Schedule Of Operating Leases [Line Items]
Operating lease period	10 years		10 years
Future Undiscounted Lease Payments for Retail Stores [Member]
Schedule Of Operating Leases [Line Items]
Operating leases not yet commenced, future undiscounted lease payments	$ 71		$ 71

Leases (Operating Lease) (Details) - USD ($)
$ in Millions

Nov. 02, 2019

Feb. 02, 2019

^[1]

Amounts recognized in the Condensed Consolidated Balance Sheet related to operating leases

Operating lease right-of-use assets

$ 2,956

Current portion of lease obligations

508

Noncurrent: Operating lease liabilities

2,719

Total lease liabilities

$ 3,227

[1]

Leases (Lease Cost) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Leases (Lease Cost) (Details) - USD ($) $ in Millions	Nov. 02, 2019	Nov. 03, 2018	Nov. 02, 2019	Nov. 03, 2018
Components of lease cost
Operating lease costs	$ 168		$ 499
Variable lease costs	84		249
Short-term lease costs	5		19
Sublease Income	(1)	$ (3)	(1)	$ (4)
Net lease cost	$ 256		$ 766

Leases (Other and Supplement Cash Flow) (Details) $ in Millions	9 Months Ended
	Nov. 02, 2019 USD ($)
Leases [Abstract]
Weighted average remaining lease term (years)	7 years 1 month 6 days
Weighted average discount rate	5.40%
Operating cash flows from operating leases	$ 506
Operating leases	$ 211

Leases (Future Minimum Lease Payments Under Non-Cancelable Operating Leases Net of Future Non-Cancelable Operating Sublease Payments) (Details) - USD ($) $ in Millions	Nov. 02, 2019	Feb. 02, 2019
Maturities of lease liabilities
Remainder of 2019	$ 173
2020	655
2021	607
2021	550
2023	479
Thereafter	1,479
Total lease payments	3,943
Less: Interest	716
Total lease liabilities	$ 3,227
Estimated future minimum noncancelable lease commitments
2019		$ 672
2020		631
2021		583
2022		527
2023		456
Thereafter		1,408
Total operating lease commitments		$ 4,277

Accumulated Other Comprehensive Loss (Schedule of Accumulated Other Comprehensive Loss) (Details) - USD ($)
$ in Millions

Nov. 02, 2019

Feb. 02, 2019

Nov. 03, 2018

Accumulated Other Comprehensive Loss [Abstract]

Foreign currency translation adjustments

$ (100)

$ (84)

$ (90)

Cash flow hedges

(2)

Unrecognized pension cost and postretirement benefit

(280)

(286)

(272)

Accumulated other comprehensive loss ("AOCL"), net of tax

$ (382)

$ (370)

^[1]

$ (361)

[1]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Accumulated adjustment, net of tax, that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency from the functional currency of the reporting entity, net of reclassification of realized foreign currency translation gains or losses.

+ References + Details

Accumulated Other Comprehensive Loss (Changes in Accumulated Other Comprehensive Loss) (Details)
$ in Millions

9 Months Ended

Nov. 02, 2019

USD ($)

OCI before reclassification

$ (370)

^[1]

(18)

(12)

Foreign Currency Translation Adjustments [Member]

(382)

Accumulated Other Comprehensive Income (Loss) [Line Items]

OCI before reclassification

(84)

(16)

(16)

Cash Flow Hedges [Member]

(100)

Accumulated Other Comprehensive Income (Loss) [Line Items]

OCI before reclassification

(2)

(2)

Accumulated Other Comprehensive Income (Loss) [Line Items]

(2)

(286)

Long-term debt, Carrying value

$ (280)

[1]

Accumulated Other Comprehensive Loss (Reclassifications from Accumulated Other Comprehensive Loss) (Details) $ in Millions	9 Months Ended
	Nov. 02, 2019 USD ($)
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Net periodic benefit cost (see Note 11)	$ 8
Income tax benefit	(2)
Total, net of tax	6
Pension Benefits [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Net periodic benefit cost (see Note 11)	9
Postretirement Benefits [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Net periodic benefit cost (see Note 11)	$ (1)

Fair Value Measurements (Assets and Liabilities Measured at Fair Value on Recurring Basis) (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Millions	Nov. 02, 2019	Feb. 02, 2019	Nov. 03, 2018
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets measured at fair value on recurring basis
Liabilities measured at fair value on recurring basis
Level 1 [Member] \| Available-for-sale Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets measured at fair value on recurring basis
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets measured at fair value on recurring basis	142	100	28
Liabilities measured at fair value on recurring basis	2	1
Level 2 [Member] \| Investment in Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets measured at fair value on recurring basis	136	94	21
Level 2 [Member] \| Available-for-sale Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets measured at fair value on recurring basis	6	6	6
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets measured at fair value on recurring basis
Liabilities measured at fair value on recurring basis
Level 3 [Member] \| Available-for-sale Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets measured at fair value on recurring basis
Forward Foreign Exchange Contracts [Member] \| Level 1 [Member] \| Derivative Financial Instruments, Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities measured at fair value on recurring basis
Forward Foreign Exchange Contracts [Member] \| Level 1 [Member] \| Derivative Financial Instruments, Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets measured at fair value on recurring basis
Forward Foreign Exchange Contracts [Member] \| Level 2 [Member] \| Derivative Financial Instruments, Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities measured at fair value on recurring basis	2	1
Forward Foreign Exchange Contracts [Member] \| Level 2 [Member] \| Derivative Financial Instruments, Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets measured at fair value on recurring basis			1
Forward Foreign Exchange Contracts [Member] \| Level 3 [Member] \| Derivative Financial Instruments, Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities measured at fair value on recurring basis
Forward Foreign Exchange Contracts [Member] \| Level 3 [Member] \| Derivative Financial Instruments, Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets measured at fair value on recurring basis

Fair Value Measurements (Carrying Value and Estimated Fair Value of Long-Term Debt) (Details) - USD ($)
$ in Millions

Nov. 02, 2019

Feb. 02, 2019

Nov. 03, 2018

Fair Value Measurements [Abstract]

$ 122

$ 124

^[1]

$ 124

Long-term debt, Fair value

$ 135

$ 136

$ 138

[1]

Earnings Per Share (Narrative) (Details) - shares shares in Millions	9 Months Ended
	Nov. 02, 2019	Nov. 03, 2018
Earnings Per Share [Abstract]
Contingently issuable shares excluded from diluted earnings per share	0.7	1.1

Earnings Per Share (Computation of Basic and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Nov. 02, 2019	Nov. 03, 2018	Nov. 02, 2019	Nov. 03, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income/(loss)	$ 125	$ 130	$ 357	$ 383
Weighted-average common shares outstanding	106.9	114.5	110.0	116.6
Dilutive effect of potential common shares	0.3	0.5	0.5	0.5
Weighted-average common shares outstanding assuming dilution	107.2	115.0	110.5	117.1
Earnings per share - basic	$ 1.16	$ 1.14	$ 3.24	$ 3.29
Earnings per share - diluted	$ 1.16	$ 1.14	$ 3.23	$ 3.28
Stock Option Plans [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive share-based awards excluded from diluted calculation	2.4	2.0	2.2	1.9

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

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+ Details

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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+ Details