0000072333-21-000099 | 10-K | XBRL Viewer

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Document And Entity Information - USD ($) $ in Billions	12 Months Ended
Document And Entity Information - USD ($) $ in Billions	Jan. 30, 2021	Mar. 10, 2021	Jul. 31, 2020
Document And Entity Information [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jan. 30, 2021
Document Transition Report	false
Entity File Number	001-15059
Entity Registrant Name	NORDSTROM, INC.
Entity Incorporation, State or Country Code	WA
Entity Tax Identification Number	91-0515058
Entity Address, Address Line One	1617 Sixth Avenue
Entity Address, City or Town	Seattle
Entity Address, State or Province	WA
Entity Address, Postal Zip Code	98101
City Area Code	206
Local Phone Number	628-2111
Title of 12(b) Security	Common stock, without par value
Trading Symbol	JWN
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 1.7
Entity Common Stock, Shares Outstanding		157,770,380
Documents Incorporated by Reference [Text Block]	Portions of the Proxy Statement for the 2021 Annual Meeting of Shareholders, scheduled to be held on May 19, 2021, are incorporated into Part III.
Entity Central Index Key	0000072333
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--01-30

Consolidated Statements Of Earnings - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Jan. 30, 2021	Feb. 01, 2020	Feb. 02, 2019
Income Statement [Abstract]
Net sales	$ 10,357	$ 15,132	$ 15,480
Credit card revenues, net	358	392	380
Total revenues	10,715	15,524	15,860
Cost of sales and related buying and occupancy costs	(7,600)	(9,932)	(10,155)
Selling, general and administrative expenses	(4,162)	(4,808)	(4,868)
(Loss) earnings before interest and income taxes	(1,047)	784	837
Interest expense, net	(181)	(102)	(104)
(Loss) earnings before income taxes	(1,228)	682	733
Income tax benefit (expense)	538	(186)	(169)
Net (loss) earnings	$ (690)	$ 496	$ 564
(Loss) earnings per share:
Basic (in dollars per share)	$ (4.39)	$ 3.20	$ 3.37
Diluted (in dollars per share)	$ (4.39)	$ 3.18	$ 3.32
Weighted-average shares outstanding:
Basic (in shares)	157.2	155.2	167.3
Diluted (in shares)	157.2	156.1	170.0

Consolidated Statements of Comprehensive Earnings - USD ($) $ in Millions	12 Months Ended
	Jan. 30, 2021	Feb. 01, 2020	Feb. 02, 2019
Statement of Comprehensive Income [Abstract]
Net (loss) earnings	$ (690)	$ 496	$ 564
Postretirement plan adjustments, net of tax of $0, $9 and ($5)	(1)	(27)	14
Foreign currency translation adjustment	(1)	(4)	(17)
Comprehensive net (loss) earnings	$ (692)	$ 465	$ 561

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Consolidated Statements of Comprehensive Earnings (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Jan. 30, 2021	Feb. 01, 2020	Feb. 02, 2019
Statement of Comprehensive Income [Abstract]
Postretirement plan adjustments, tax	$ 0	$ 9	$ (5)

Consolidated Balance Sheets - USD ($) $ in Millions	Jan. 30, 2021	Feb. 01, 2020
Assets
Cash and cash equivalents	$ 681	$ 853
Accounts receivable, net	245	179
Merchandise inventories	1,863	1,920
Prepaid expenses and other	853	278
Total current assets	3,642	3,230
Land, property and equipment, net	3,732	4,179
Operating lease right-of-use assets	1,581	1,774
Goodwill	249	249
Other assets	334	305
Total assets	9,538	9,737
Liabilities and Shareholders’ Equity
Accounts payable	1,960	1,576
Accrued salaries, wages and related benefits	352	510
Current portion of operating lease liabilities	260	244
Other current liabilities	1,048	1,190
Current portion of long-term debt	500	0
Total current liabilities	4,120	3,520
Long-term debt, net	2,769	2,676
Non-current operating lease liabilities	1,687	1,875
Other liabilities	657	687
Commitments and contingencies (Note 10)
Shareholders’ equity:
Common stock, no par value: 1,000 shares authorized; 157.8 and 155.6 shares issued and outstanding	3,205	3,129
Accumulated deficit	(2,830)	(2,082)
Accumulated other comprehensive loss	(70)	(68)
Total shareholders’ equity	305	979
Total liabilities and shareholders’ equity	$ 9,538	$ 9,737

Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Millions	Jan. 30, 2021	Feb. 01, 2020
Shareholders’ equity
Common stock, no par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized	1,000.0	1,000.0
Common stock, shares issued	157.8	155.6
Common stock, shares outstanding	157.8	155.6

Consolidated Statements of Shareholders' Equity - USD ($) $ in Millions	Total	Common stock [Member]	Accumulated deficit [Member]	Accumulated other comprehensive loss [Member]
Common stock, balance, beginning of year at Feb. 03, 2018		$ 2,816
Common stock
Issuance of common stock under stock compensation plans		163
Stock-based compensation		69
Common stock, balance, end of year at Feb. 02, 2019		3,048
Accumulated deficit, balance, beginning of year at Feb. 03, 2018			$ (1,810)
Accumulated deficit
Cumulative effect of adopted accounting standards			60	$ (5)
Net (loss) earnings	$ 564		564
Dividends			(250)
Repurchase of common stock			(702)
Accumulated deficit, balance, end of year at Feb. 02, 2019			(2,138)
Accumulated other comprehensive loss, balance, beginning of year at Feb. 03, 2018				(29)
Accumulated other comprehensive loss
Cumulative effect of adopted accounting standards			60	(5)
Other comprehensive loss				(3)
Accumulated other comprehensive loss, balance, end of year at Feb. 02, 2019				(37)
Total at Feb. 02, 2019	$ 873
Accumulated other comprehensive loss
Dividends per share	$ 1.48
Issuance of common stock under stock compensation plans		29
Stock-based compensation		52
Common stock, balance, end of year at Feb. 01, 2020	$ 3,129	3,129
Accumulated deficit
Cumulative effect of adopted accounting standards			(25)	0
Net (loss) earnings	496		496
Dividends			(229)
Repurchase of common stock			(186)
Accumulated deficit, balance, end of year at Feb. 01, 2020	(2,082)		(2,082)
Accumulated other comprehensive loss
Cumulative effect of adopted accounting standards			(25)	0
Other comprehensive loss				(31)
Accumulated other comprehensive loss, balance, end of year at Feb. 01, 2020	(68)			(68)
Total at Feb. 01, 2020	$ 979
Accumulated other comprehensive loss
Dividends per share	$ 1.48
Issuance of common stock under stock compensation plans		16
Stock-based compensation		60
Common stock, balance, end of year at Jan. 30, 2021	$ 3,205	$ 3,205
Accumulated deficit
Cumulative effect of adopted accounting standards			0	0
Net (loss) earnings	(690)		(690)
Dividends			(58)
Repurchase of common stock			0
Accumulated deficit, balance, end of year at Jan. 30, 2021	(2,830)		(2,830)
Accumulated other comprehensive loss
Cumulative effect of adopted accounting standards			$ 0	0
Other comprehensive loss				(2)
Accumulated other comprehensive loss, balance, end of year at Jan. 30, 2021	(70)			$ (70)
Total at Jan. 30, 2021	$ 305
Accumulated other comprehensive loss
Dividends per share	$ 0.37

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Jan. 30, 2021	Feb. 01, 2020	Feb. 02, 2019
Operating Activities
Net (loss) earnings	$ (690)	$ 496	$ 564
Adjustments to reconcile net (loss) earnings to net cash (used in) provided by operating activities:
Depreciation and amortization expenses and other, net	675	671	669
Asset impairment	137	0	0
Amortization of deferred property incentives	0	0	(75)
Right-of-use asset amortization	168	183	0
Deferred income taxes, net	(7)	52	(34)
Stock-based compensation expense	67	69	90
Change in operating assets and liabilities:
Accounts receivable	(46)	82	(4)
Merchandise inventories	53	30	15
Prepaid expenses and other assets	(607)	(38)	(8)
Accounts payable	432	98	12
Accrued salaries, wages and related benefits	(157)	(71)	1
Other current liabilities	(143)	(94)	15
Lease liabilities	(237)	(259)	0
Other liabilities	7	17	51
Net cash (used in) provided by operating activities	(348)	1,236	1,296
Investing Activities
Capital expenditures	(385)	(935)	(654)
Other, net	38	26	1
Net cash used in investing activities	(347)	(909)	(653)
Financing Activities
Proceeds from revolving line of credit	800	0	0
Repayments of Lines of Credit	(800)	0	0
Proceeds from long-term borrowings	600	499	0
Principal payments on long-term borrowings	0	(500)	(56)
(Decrease) increase in cash book overdrafts	(4)	8	0
Cash dividends paid	(58)	(229)	(250)
Payments for repurchase of common stock	0	(210)	(678)
Proceeds from issuances under stock compensation plans	16	29	163
Tax withholding on share-based awards	(9)	(17)	(20)
Other, net	(15)	(11)	(26)
Net cash provided by (used in) financing activities	530	(431)	(867)
Effect of exchange rate on cash and cash equivalents	(7)	0	0
Net decrease in cash and cash equivalents	(172)	(104)	(224)
Cash and cash equivalents at beginning of year	853	957	1,181
Cash and cash equivalents at end of year	681	853	957
Cash paid during the year for:
Income taxes, net of refunds	23	178	280
Interest, net of capitalized interest	$ 168	$ 111	$ 118

Nature Of Operations And Summary Of Significant Accounting Policies

12 Months Ended

Jan. 30, 2021

Accounting Policies [Abstract]

Nature Of Operations And Summary Of Significant Accounting Policies

NOTE 1: NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The Company

Founded in 1901 as a retail shoe business in Seattle, Washington, our Company is a leading fashion retailer that offers an extensive selection of high-quality brand-name and private label merchandise focused on apparel, shoes, beauty, accessories and home goods for women, men, young adults and children. This breadth of merchandise allows us to serve a wide range of customers who appreciate quality fashion and a superior shopping experience. We offer brand-name and private label merchandise across our digital and physical assets in both our Nordstrom and Nordstrom Rack brands. Our facilities and stores are located in 40 states in the U.S. and three provinces in Canada. Nordstrom includes:

•Nordstrom.com

•TrunkClub.com

•Nordstrom.ca

•94 Nordstrom stores in the U.S.

•six Nordstrom stores and seven Nordstrom Rack stores in Canada

•seven Nordstrom Locals

Nordstrom Rack includes:

•Nordstromrack.com

•HauteLook.com

•242 Nordstrom Rack stores in the U.S.

•two Last Chance clearance stores.

Fiscal Year

We operate on a 52/53-week fiscal year ending on the Saturday closest to January 31st. References to 2020 and all years except 2017 within this document are based on a 52-week fiscal year, while 2017 is based on a 53-week fiscal year.

Principles of Consolidation

The Consolidated Financial Statements include the balances of Nordstrom, Inc. and its subsidiaries. All intercompany transactions and balances are eliminated in consolidation.

Use of Estimates

The preparation of financial statements in conformity with GAAP in the U.S. requires that we make estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and disclosure of contingent assets and liabilities during the reporting period. Uncertainties regarding such estimates and assumptions are inherent in the preparation of financial statements and actual results may differ from these estimates and assumptions. Our most significant accounting judgments and estimates include revenue recognition, inventory valuation, long-lived asset recoverability and income taxes, all of which involve assumptions about future events. We may be unable to accurately predict the impact of COVID-19 going forward and as a result our estimates may change in the near term.

Revenue

During the first quarter of 2018, we adopted the Revenue Standard, using the modified retrospective method. We recorded a net cumulative effect adjustment of $55 which decreased beginning accumulated deficit.

Net Sales

We recognize sales revenue net of estimated returns and excluding sales taxes. Revenue from sales to customers shipped from our Supply Chain Network facilities, stores and directly from our vendors, which includes shipping revenue when applicable, is recognized at shipping point, the point in time where control has transferred to the customer. Costs to ship orders to customers are expensed as a fulfillment activity at shipping point, commissions from sales at our Nordstrom stores are expensed at the point of sale and both are recorded in SG&A expenses.

We reduce sales and cost of sales by an estimate of future customer merchandise returns, which is calculated based on historical and expected return patterns, and record a sales return allowance and an estimated returns asset. Our sales return allowance is classified in other current liabilities and our estimated returns asset, calculated based on the cost of merchandise sold, is classified in prepaid expenses and other on the Consolidated Balance Sheets. We record the impact of the sales return allowance in our separate Nordstrom and Nordstrom Rack brands. The majority of our returns from both digital and physical sales come through our stores. Due to the seasonality of our business, these balances typically increase when higher sales occur in the last month of a period, such as the Anniversary Sale, which usually occurs at the end of the second quarter, and decrease in the following period. As a result of COVID-19 and the related change in customer buying trends, we have experienced declines in our online return rates, which historically are higher than our overall average return rates. Accordingly, we have adjusted our estimates of future return rates to reflect recent experience. Estimating future returns requires substantial judgement based on current and historical trends and actual returns may vary from our estimates.

Loyalty Program

The Nordy Club is our customer loyalty program that incorporates a traditional point and benefit system, while providing customers exclusive access to products and events, enhanced services, personalized experiences and more convenient ways to shop. Customers accumulate points based on their level of spending and type of participation. Upon reaching certain point thresholds, customers receive Nordstrom Notes, which can be redeemed for goods or services across Nordstrom and Nordstrom Rack. The Nordy Club benefits vary based on the level of customer spend, and include Bonus Points days and shopping and fashion events.

We offer customers access to a variety of payment products and services, including a selection of Nordstrom-branded Visa® credit cards in the U.S. and Canada, as well as a Nordstrom-branded private label credit card for Nordstrom purchases. When customers use a Nordstrom-branded credit or debit card, they also participate in The Nordy Club and receive additional benefits, which can vary depending on the level of spend, including early access to the Anniversary Sale, enhanced alteration and stylist benefits and incremental accumulation of points toward Nordstrom Notes.

As our customers earn points and Nordstrom Notes in The Nordy Club, a portion of underlying sales revenue is deferred based on an estimated stand-alone selling price of points, Nordstrom Notes and other loyalty benefits, such as alterations. We recognize the revenue and related cost of sale when the Nordstrom Notes are ultimately redeemed and reduce our contract liability. We include the deferred revenue in other current liabilities on the Consolidated Balance Sheets. We record breakage revenue of unused points and unredeemed Nordstrom Notes based on expected customer redemption. We estimate, based on historical usage, that approximately 10% of Nordstrom Notes and approximately 8% of points will be unredeemed. Estimating future breakage rates requires judgment based on current and historical trends and actual breakage rates may vary from our estimates. Other benefits of the loyalty program, including shopping and fashion events, are recorded in SG&A expenses as these are not a material right of the program.

As of January 30, 2021 and February 1, 2020, our outstanding performance obligation for The Nordy Club, which consists primarily of unredeemed points and Nordstrom Notes at retail value under the Revenue Standard was $137 and $162. Almost all Nordstrom Notes are redeemed within approximately eleven months of issuance.

Gift Cards

We record deferred revenue from the sale of gift cards at the time of purchase. As gift cards are redeemed, we recognize revenue and reduce our contract liability. Although our gift cards do not have an expiration date, we include this deferred revenue in other current liabilities on the Consolidated Balance Sheets as customers can redeem gift cards at any time.

As of January 30, 2021 and February 1, 2020, our outstanding performance obligation for unredeemed gift cards was $341 and $414. Almost all gift cards are redeemed within two years of issuance. We record breakage revenue on unused gift cards based on expected customer redemption. We estimate, based on historical usage, that 3% will be unredeemed and recognized as revenue. Estimating future breakage rates requires judgment based on current and historical trends and actual breakage rates may vary from our estimates. We have seen a reduction in redemption rate trends, which increases our breakage rate and combined with higher volumes of gifts cards issued over the past several years, our breakage income has increased. Breakage income was $81, $17 and $14 in 2020, 2019 and 2018.

Credit Card Revenues, net

Although the primary purpose of offering our credit cards is to foster greater customer loyalty and drive more sales, we also receive credit card revenue through our program agreement with TD, whereby TD is the exclusive issuer of our consumer credit cards and we perform account servicing functions. Credit card revenues, net include our portion of the ongoing credit card revenue, net of credit losses, pursuant to our program agreement with TD.

Cost of Sales

Cost of sales primarily includes the purchase and manufacturing costs of inventory sold, net of vendor allowances, and in-bound freight expense.

Buying and Occupancy Costs

Buying costs consist primarily of compensation and other costs incurred by our merchandising and product development groups. Occupancy costs include rent, depreciation, property taxes and facility operating costs of our retail, corporate center and Supply Chain Network facilities.

Selling, General and Administrative Expenses

SG&A expenses consist primarily of compensation and benefit costs, marketing, supply chain and technology.

Severance

In 2020, we paid out $88 in restructuring costs in connection with our regional and corporate reorganization, including $25 recorded in cost of sales and related buying and occupancy costs and $63 in SG&A on the Consolidated Statement of Earnings.

Estimated Non-recurring Charge

We recognized an Estimated Non-recurring Charge of $72, or $49 net of tax, in 2018, resulting from some delinquent Nordstrom credit card accounts being charged higher interest in error. Less than 4% of Nordstrom cardmembers received a cash refund or credit to outstanding balances, with most receiving less than one hundred dollars. We recorded an estimated charge representing our costs through 2018, which were comprised primarily of amounts we have refunded to impacted cardmembers. In 2018, the Estimated Non-recurring Charge increased our SG&A expenses on our Consolidated Statement of Earnings and other current liabilities on our Consolidated Balance Sheet.

Advertising

Advertising production costs for internet, magazines, store events and other media are expensed the first time the advertisement is run. Online marketing costs are expensed when incurred. Total advertising expenses, net of vendor allowances, of $283, $299 and $246 in 2020, 2019 and 2018 were included in SG&A expenses.

Vendor Allowances

We receive allowances from merchandise vendors for purchase price adjustments, beauty expenses, advertising programs and various other expenses. Purchase price adjustments are recorded as a reduction of cost of sales at the point they have been earned and the related merchandise has been marked down or sold. Allowances for beauty expenses, advertising programs and other expenses are recorded in SG&A expenses as a reduction of the related costs when incurred. Vendor allowances earned are as follows:


Fiscal year	2020	2019	2018
Purchase price adjustments	$77	$171	$180
Beauty expenses	79	140	149
Advertising	82	101	115
Other	2	6	6
Total vendor allowances	$240	$418	$450

Shipping and Handling Costs

Our shipping and handling costs include payments to third-party shippers and costs to hold, move and prepare merchandise for shipment. These costs do not include in-bound freight to our Supply Chain Network facilities, which we include in the cost of our inventory. Shipping and handling costs of $828, $627 and $589 in 2020, 2019 and 2018 were included in SG&A expenses.

Stock-Based Compensation

The 2019 Plan authorizes the grant of stock options, PSUs, RSUs, stock appreciation rights and both restricted and unrestricted shares of common stock to employees and nonemployee directors. We grant stock-based awards under our 2019 Plan and employees may purchase our stock at a discount under our ESPP. We predominantly recognize stock-based compensation expense related to stock-based awards at their estimated grant date fair value, recorded on a straight-line basis over the requisite service period. Compensation expense for certain award holders is accelerated based upon age and years of service. Compensation expense for PSUs is adjusted based on the payout percentage of the PSU grant subject to achieving specific performance measures. The total compensation expense is reduced by actual forfeitures as they occur over the vesting period of the awards.

We estimate the grant date fair value of stock options using the Binomial Lattice option valuation model. The fair value of RSUs are determined based on the number of RSUs granted and the quoted price of our common stock on the date of grant, less the estimated present value of dividends over the vesting period. PSUs granted are classified as equity and the fair value is determined based on the number of PSUs granted and the quoted price of our common stock on the date of grant, less the estimated present value of dividends over the vesting period.

Issuance of common stock under stock compensation plans on the Consolidated Statements of Shareholders’ Equity includes proceeds from our common stock option exercises and purchases of shares under the ESPP, while stock-based compensation primarily includes stock-based compensation expense for our common stock options, RSUs and PSUs partially offset by shares withheld for taxes on RSUs.

New Store Opening Costs

Non-capital expenditures associated with opening new stores, including marketing expenses, relocation expenses and occupancy costs, are charged to expense as incurred. These costs are included in both buying and occupancy costs and SG&A, according to their nature as disclosed above.

Income Taxes

We use the asset and liability method of accounting for income taxes. Using this method, deferred tax assets and liabilities are recorded based on differences between the financial reporting and tax basis of assets and liabilities and for operating loss and tax credit carryforwards. The deferred tax assets and liabilities are calculated using the enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. We routinely evaluate the likelihood of realizing the benefit of our deferred tax assets and may record a valuation allowance if, based on all available evidence, it is determined that some portion of the tax benefit will not be realized.

We regularly evaluate the likelihood of realizing the benefit for income tax positions we have taken in various federal, state and foreign filings by considering all relevant facts, circumstances and information available. If we believe it is more likely than not that our position will be sustained, we recognize a benefit at the largest amount that we believe is cumulatively greater than 50% likely to be realized. Interest and penalties related to income tax matters are classified as a component of income tax expense.

Income taxes require significant management judgment regarding applicable statutes and their related interpretation, the status of various income tax audits and our particular facts and circumstances. Also, as audits are completed or statutes of limitations lapse, it may be necessary to record adjustments to our taxes payable, deferred taxes, tax reserves or income tax expense.

CARES Act

On March 27, 2020, the CARES Act was signed into law, providing payroll tax credits for employee retention, deferral of payroll taxes and several income tax provisions including modifications to the net interest deduction limitation, changes to certain property depreciation and allowing for carryback of certain operating losses.

We have estimated the impacts of the CARES Act and other COVID-19 related stimulus in accordance with our overall approach for determining our income tax provision, which uses an estimated annual effective tax rate based on our best estimates and adjusts for discrete taxable events that occur during the quarter. As a result, we will carryback our 2020 U.S. federal operating loss and recover taxes previously paid at the applicable 35% tax rate rather than the current rate of 21%. Our estimated annual effective tax rate reflects this benefit and is the primary driver for the rate increase when compared with 2019. As a result, we recorded $560 in taxes receivable as of January 30, 2021, which is classified in prepaid expenses and other on the Consolidated Balance Sheet.

In addition, for the year ended January 30, 2021, we recognized $69 in employee retention payroll tax credits and elected to defer payment of the employer portion of social security taxes, both as provided for under the CARES Act and other COVID-19 related stimulus.

Comprehensive Net Earnings

Comprehensive net earnings consist of net earnings and other gains and losses affecting equity that are excluded from net earnings. These consist of postretirement plan adjustments, net of related income tax effects, and foreign currency translation adjustments.

Cash Equivalents

Cash equivalents are short-term investments with a maturity of three months or less from the date of purchase and are carried at cost, which approximates fair value. At the end of 2020 and 2019, checks not yet presented for payment drawn in excess of our bank deposit balances were $106 and $110 and included within accounts payable on our Consolidated Balance Sheets.

Accounts Receivable

Accounts receivable, net primarily includes receivables from non-Nordstrom-branded credit and debit cards and developer reimbursements.

Merchandise Inventories

Merchandise inventories are stated at the lower of cost or market value using the retail inventory method. Under the retail method, the valuation of inventories is determined by applying a calculated cost-to-retail ratio to the retail value of ending inventory. The value of our inventory on the balance sheet is then reduced by a charge to cost of sales for retail inventory markdowns taken on the selling price. To determine if the retail value of our inventory should be marked down, we consider current and anticipated demand, customer preferences, age of the merchandise and fashion trends. We record excess and obsolescence based on historical trends and specific identification.

We take physical inventory counts and adjust our records accordingly. Following each physical inventory cycle, we adjust shrinkage to actual results and an estimate is recorded for shrinkage from the count date to year end. We evaluate and determine our estimated shrinkage rate, which is based on a percentage of sales, using the most recent physical inventory and historical results.

Leases

We record leases, which consist primarily of operating leases, on the Consolidated Balance Sheets as operating lease ROU assets, current portion of operating lease liabilities and non-current operating lease liabilities. Operating lease liabilities are initially recognized based on the net present value of the fixed portion of our lease and common area maintenance payments from lease commencement through the lease term. To calculate the net present value, we apply an incremental borrowing rate. The incremental borrowing rate is determined using a portfolio approach based on the rate of interest we would pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term. We use quoted interest rates obtained from financial institutions as an input to derive our incremental borrowing rate as the discount rate for the lease. We recognize ROU assets based on operating lease liabilities reduced by property incentives. We test ROU assets for impairment in the same manner as long-lived assets and exclude the related operating lease liability and operating lease payments in our analysis.

We lease the land, buildings, or land and buildings for many of our stores, office facilities and Supply Chain Network facilities. We also lease equipment and have service contracts including transportation agreements and warehouse agreements where we control identified assets such as vehicles, warehouse space and equipment and therefore represent embedded leases under the Lease Standard.

Land, Property and Equipment

Land is recorded at historical cost, while property and equipment are recorded at cost less accumulated depreciation and amortization. Capitalized software includes the costs of developing or obtaining internal-use software, including external direct costs of materials and services and internal payroll costs related to the software project.

We capitalize interest on construction in progress and software projects during the period in which expenditures have been made, activities are in progress to prepare the asset for its intended use and actual interest costs are being incurred. Depreciation and amortization are computed using the straight-line method over the asset’s estimated useful life, which is determined by asset category as follows:


Asset			Life (in years)
Buildings and improvements			5 – 40
Store fixtures and equipment			3 – 15
Leasehold improvements			5 – 40
Capitalized software			2 – 7

Leasehold improvements and leased property and equipment that are purchased at the inception of the lease, or during the lease term, are amortized over the shorter of the lease term or the asset life. Lease terms include the fixed, non-cancellable term of a lease, plus any renewal periods determined to be reasonably assured.

We receive contributions from vendors for the construction of certain fixtures in our stores.

Long-Lived Assets

When facts and circumstances indicate that the carrying values of buildings, equipment and ROU assets may be impaired, we compare the carrying value to the related projected future cash flows, among other quantitative and qualitative analyses. Cash flow analysis requires judgment regarding many factors, such as revenues, growth rates, expenses and capital expenditures. These projections are inherently subject to uncertainties and while we believe the inputs and assumptions utilized in our future cash flows are reasonable, our estimates may change in the near term based on our future performance.

Land, property and equipment are grouped at the lowest level at which there are identifiable cash flows when assessing impairment, while cash flows for our retail store assets are identified at the individual store level.

As we optimized our mix of physical and digital assets to align with longer-term customer trends, we closed 16 Nordstrom stores, six Trunk Club clubhouses and three Jeffrey boutiques in the first half of 2020. As part of these closures, we incurred non-cash impairment charges on long-lived tangible and ROU assets, primarily associated with the Nordstrom store closures, to adjust the carrying values to their estimated fair value. The following table provides details related to asset impairment charges as a result of COVID-19:


Fiscal year			2020
Long-lived asset impairment1			$96
Operating lease ROU asset impairment1			41
Total asset impairment			$137

1 As of January 30, 2021, the carrying value of the applicable long-lived and operating lease ROU assets after impairment was $13 and $3.

These charges are primarily included in our Retail segment SG&A expense on the Consolidated Statement of Earnings.

Amortization expense for acquired intangibles was $7 and $11 in 2019 and 2018. In 2019, as a result of the Nordstrom Trunk Club integration, we fully impaired the remaining acquired Nordstrom Trunk Club intangible asset and recorded a loss of $11. No amortization expense was recorded beyond 2019.

Goodwill

Goodwill represents the excess of acquisition cost over the fair value of the related net assets acquired and is not subject to amortization. We review our goodwill annually for impairment, as of the first day of the fourth quarter, or when circumstances indicate that the carrying value may exceed the fair value. We perform this evaluation at the Nordstrom and NRHL reporting unit level, all within our Retail segment. When evaluating these assets for impairment, we may first perform a qualitative assessment to determine whether it is more likely than not that a reporting unit is impaired. If we determine that it is not more likely than not that the fair value of the reporting unit exceeds its carrying amount, we perform a quantitative fair value test, where we compare the carrying value of the reporting unit to its estimated fair value, which is based on the expected present value of future cash flows (income approach), comparable public companies and acquisitions (market approach), or a combination of both. If fair value is lower than the carrying value, an impairment charge is recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. As of January 30, 2021 and February 1, 2020, we had goodwill of $249. Based on the results of our tests, fair value substantially exceeded carrying value, and we therefore had no goodwill impairment in 2020, 2019 or 2018.

Self-Insurance

We retain a portion of the risk for certain losses related to employee health and welfare, workers’ compensation and other liability claims. Liabilities associated with these losses include undiscounted estimates of both losses reported and losses incurred but not yet reported. We estimate our ultimate cost using an actuarially-based analysis of claims experience, regulatory changes and other relevant factors.

Foreign Currency

Our Canadian operations are comprised of the Nordstrom.ca website, six Nordstrom stores and seven Nordstrom Rack stores. The functional currency of our Canadian operations is the Canadian Dollar. We translate assets and liabilities into U.S. Dollars using the exchange rate in effect at the balance sheet date, while we translate revenues and expenses using an average exchange rate for the period. We record these translation adjustments as a component of accumulated other comprehensive loss on the Consolidated Balance Sheets.

In addition, our U.S. operations incur certain expenditures denominated in Canadian Dollars and our Canadian operations incur certain expenditures denominated in U.S. Dollars. This activity results in transaction gains and losses that arise from exchange rate fluctuations, which are recorded as gains or losses in the Consolidated Statements of Earnings.

Recent Accounting Pronouncements

In August 2020, the SEC adopted the final rule under SEC Release No. 33-10825, Modernization of Regulation S-K Items 101, 103, and 105, which modernizes the description of business, legal proceedings and risk factor disclosures. This final rule was effective for us in the fourth quarter of 2020. The adoption of this final rule will not have a material effect on our Consolidated Financial Statements.

In November 2020, the SEC adopted the final rule under SEC Release No. 33-10890, Management’s Discussion and Analysis, Selected Financial Data, and Supplementary Financial Information, which eliminates the requirement for selected financial data, streamlines certain disclosures in MD&A and eliminates duplicative disclosures with the intention of simplifying reporting compliance. Though this final rule is effective for us beginning in the first quarter of 2021, we have elected to early adopt the amendments to provision 301, Selected financial data and provision 302, Supplementary financial information in the fourth quarter of 2020. The adoption of this final rule will not have a material effect on our Consolidated Financial Statements.

Revenue

12 Months Ended

Jan. 30, 2021

Revenue from Contract with Customer [Abstract]

Revenue

NOTE 2: REVENUE

Contract Liabilities

Contract liabilities represent our obligation to transfer goods or services to customers and include deferred revenue for The Nordy Club (including points and Nordstrom Notes) and gift cards. Our contract liabilities are classified as current on the Consolidated Balance Sheets and are as follows:


			Contract Liabilities
Balance as of February 2, 2019			$548
Balance as of February 1, 2020			576
Balance as of January 30, 2021			478

Revenues recognized from our beginning contract liability balance were $261 and $313 for the years ended January 30, 2021 and February 1, 2020.

Disaggregation of Revenue

The following table summarizes our disaggregated net sales:


Fiscal year	2020	2019	2018
Nordstrom	$6,997	$9,943	$10,299
Nordstrom Rack	3,360	5,189	5,181

Total net sales	$10,357	$15,132	$15,480

Digital sales as % of total net sales	55%	33%	30%

The following table summarizes the percent of net sales by merchandise category:


Fiscal year	2020	2019	2018
Women’s Apparel	29%	31%	32%
Shoes	26%	24%	24%
Women’s Accessories	14%	11%	11%
Men’s Apparel	12%	16%	16%
Beauty	12%	11%	11%
Kids’ Apparel	4%	4%	4%
Other	3%	3%	2%
Total net sales	100%	100%	100%

Leases

12 Months Ended

Jan. 30, 2021

Leases [Abstract]

Leases

NOTE 3: LEASES

We lease the land or the land and buildings at many of our facilities, warehouses, stores and offices, as well as equipment. The majority of our fixed, non-cancellable lease terms are 15 to 30 years for Nordstrom stores, approximately 10 years for Nordstrom Rack stores and 5 to 20 years for office facilities and Supply Chain Network facilities. Many of our leases include options that allow us to extend the lease term beyond the initial commitment period. At the commencement of a lease, we generally include only the initial lease term as we have determined that options to extend are not reasonably certain to occur. The exercise of lease renewal options is generally at our sole discretion. At the renewal of an expiring lease, we reassess our options in the agreement and include all reasonably certain extensions in the measurement of our lease term.

Most of our leases also require we pay certain expenses, such as common area maintenance charges, real estate taxes and other executory costs, the fixed portion of which is included in Operating Lease Cost. We recognize Operating Lease Cost, which is primarily included in occupancy costs, on a straight-line basis over the lease term. Variable lease cost includes payments for variable common area maintenance charges and additional payments based on a percentage of sales, which are recognized when probable. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.

The following table summarizes the components of lease cost:


Fiscal year	2020	2019
Operating Lease Cost	$263	$278
Variable lease cost1	100	105
Sublease income	(19)	(9)
Total lease cost, net	$344	$374

1 Variable lease cost includes short-term lease cost, which was immaterial in 2020 and 2019.

The following table summarizes future lease payments as of January 30, 2021:


Fiscal year									Operating Leases
2021									$344
2022									338
2023									312
2024									265
2025									217
Thereafter									985
Total lease payments									2,461

Less: amount representing interest									(514)
Present value of net lease payments1									$1,947

1 None of our payments for operating leases were signed but not yet commenced as of January 30, 2021.

The following table includes supplemental information:


Fiscal year	2020		2019
Cash paid related to operating lease liabilities	$332		$360
Operating lease interest	95		101
Operating lease liabilities arising upon adoption of the Lease Standard	—		2,224
Operating lease liabilities arising from the commencement of lease agreements	79		150



	January 30, 2021		February 1, 2020
Weighted-average remaining lease term	9 years		10 years
Weighted-average discount rate	4.7	%	4.7	%

Previous Lease Standard Disclosures

During the first quarter of 2019, we adopted the Lease Standard using the transition method provided in ASU 2018-11. As a result, reporting periods beginning in the first quarter of 2019 are presented under the Lease Standard while prior period amounts are not adjusted and continue to be reported in accordance with our historic accounting under ASC 840 — Leases. Adoption of the Lease Standard did not have a material impact on our Consolidated Statement of Earnings, Consolidated Statement of Comprehensive Earnings, Consolidated Statement of Cash Flows or Consolidated Statement of Shareholders’ Equity.

The following table summarizes rent expense before adoption of the Lease Standard:


Fiscal year			2018
Minimum rent			$321
Percentage rent			9
Property incentives			(79)
Total rent expense			$251

The rent expense above does not include common area maintenance charges, real estate taxes and other executory costs, which were $138 in 2018.

Land, Property And Equipment

12 Months Ended

Jan. 30, 2021

Property, Plant and Equipment [Abstract]

Land, Property And Equipment

NOTE 4: LAND, PROPERTY AND EQUIPMENT

Land, property and equipment consist of the following:


	January 30, 2021	February 1, 2020
Land and land improvements	$285	$288
Buildings and building improvements	1,446	1,591
Leasehold improvements	3,212	3,263
Store fixtures and equipment	3,993	4,015
Capitalized software	1,724	1,547
Construction in progress	231	470
Land, property and equipment	10,891	11,174
Less: accumulated depreciation and amortization	(7,159)	(6,995)
Land, property and equipment, net	$3,732	$4,179

Depreciation and amortization expense was $671, $654 and $661 in 2020, 2019 and 2018.

Our net non-cash investing activities primarily related to Nordstrom NYC and our Supply Chain Network capital expenditure accruals and resulted in a (decrease) increase to accounts payable of ($48) and $60 in 2020 and 2019.

Self-Insurance

12 Months Ended

Jan. 30, 2021

Self Insurance [Abstract]

Self-Insurance

NOTE 5: SELF-INSURANCE

Our self-insurance reserves are summarized as follows:


	January 30, 2021	February 1, 2020
Workers’ compensation	$74	$79
Employee health and welfare	25	25
Other liability	15	14
Total self-insurance reserve	$114	$118

Our workers’ compensation policies have a retention per claim of $1 or less and no policy limits.

We are self-insured for the majority of our employee health and welfare coverage and we do not use stop-loss coverage. Participants contribute to the cost of their coverage through premiums and out-of-pocket expenses for deductibles, co-pays and co-insurance.

Our liability policies, encompassing an employment practices liability, with a policy limit up to $30, and a commercial general liability policy, with a limit up to $101, have a retention per claim of $3 or less. Subsequent to January 30, 2021, we no longer carry an employment practices liability policy. This risk will be self-insured by the Company.

401(k) Plan	12 Months Ended
401(k) Plan	Jan. 30, 2021
Four Zero One K Plan [Abstract]
401(k) Plan	NOTE 6: 401(K) PLAN We provide a 401(k) plan for our employees that allows for employee elective contributions and our discretionary contributions. Employee elective contributions are funded through voluntary payroll deductions. Our discretionary contribution is funded in an amount determined by our Board of Directors each year. Due to COVID-19 and the steps we took to strengthen our financial flexibility, we temporarily paused our employer match contribution and incurred no expenses related to Company contributions in 2020. Total expenses related to Company contributions were $85 and $102 in 2019 and 2018 and were included in both buying and occupancy costs and SG&A expenses on our Consolidated Statements of Earnings.

Postretirement Benefits

12 Months Ended

Jan. 30, 2021

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

Postretirement Benefits

NOTE 7: POSTRETIREMENT BENEFITS

We have a SERP, which provides retirement benefits to certain officers and select employees. The SERP has different benefit levels depending on the participant’s role. At the end of 2020, we had 57 participants in the plan, including eight officers and select employees eligible for SERP benefits, 46 retirees and three beneficiaries. This plan is non-qualified and does not have a minimum funding requirement.

Benefit Obligations and Funded Status

Our benefit obligation and funded status is as follows:


	January 30, 2021	February 1, 2020
Change in benefit obligation:
Benefit obligation at beginning of year	$224	$190
Participant service cost	2	2
Interest cost	6	7
Benefits paid	(10)	(9)
Actuarial loss	7	34

Benefit obligation at end of year	229	224
Change in plan assets:
Fair value of plan assets at beginning of year	—	—
Employer contribution	10	9
Benefits paid	(10)	(9)
Fair value of plan assets at end of year	—	—
Underfunded status at end of year	($229)	($224)

The accumulated benefit obligation, which is the present value of benefits, assuming no future compensation changes, was $227 and $222 at the end of 2020 and 2019.

Amounts recognized as liabilities in the Consolidated Balance Sheets consist of the following:


	January 30, 2021	February 1, 2020
Accrued salaries, wages and related benefits	$11	$11
Other liabilities (noncurrent)	218	213
Net amount recognized	$229	$224

Components of SERP Expense

The components of SERP expense recognized in the Consolidated Statements of Earnings are as follows:


Fiscal year	2020	2019	2018
Participant service cost	$2	$2	$2
Interest cost	6	7	7
Amortization of net loss and other	9	1	5
Total SERP expense	$17	$10	$14

Amounts not yet reflected in SERP expense and included in accumulated other comprehensive loss (pre-tax) consist of the following:


	January 30, 2021	February 1, 2020
Accumulated loss	($61)	($62)
Prior service credit	—	—
Total accumulated other comprehensive loss	($61)	($62)

Assumptions

Weighted-average assumptions used to determine our benefit obligation and SERP expense are as follows:


Fiscal year	2020		2019		2018
Assumptions used to determine benefit obligation:
Discount rate	2.62	%	2.97	%	4.27	%
Rate of compensation increase	2.50	%	2.50	%	2.50	%
Assumptions used to determine SERP expense:
Discount rate	2.97	%	4.27	%	3.95	%
Rate of compensation increase	2.50	%	2.50	%	3.00	%

Future Benefit Payments and Contributions

As of January 30, 2021, the expected future benefit payments based upon the assumptions described above and including benefits attributable to estimated future employee service are as follows:


Fiscal year
2021			$11
2022			11
2023			12
2024			12
2025			12
2026 – 2030			62

Debt And Credit Facilities

12 Months Ended

Jan. 30, 2021

Debt Disclosure [Abstract]

Debt And Credit Facilities

NOTE 8: DEBT AND CREDIT FACILITIES

Debt

A summary of our long-term debt is as follows:


	January 30, 2021	February 1, 2020






Long-term debt, net of unamortized discount:

Senior notes, 4.00%, due October 2021	500	500
Senior notes, 8.75%, due May 2025	600	—
Senior notes, 4.00%, due March 2027	349	349
Senior debentures, 6.95%, due March 2028	300	300
Senior notes, 4.375%, due April 2030	500	500
Senior notes, 7.00%, due January 2038	147	147
Senior notes, 5.00%, due January 2044	900	897
Deferred bond issuance costs	(27)	(17)
Total long-term debt	3,269	2,676

Less: current portion	(500)	—
Total due beyond one year	$2,769	$2,676

Required principal payments on long-term debt are as follows:


Fiscal year
2021			$500
2022			—
2023			—
2024			—
2025			600
Thereafter			2,264

During the first quarter of 2020, we issued $600 aggregate principal amount of 8.750% senior secured notes due May 2025. These notes are guaranteed by certain subsidiaries and secured by various store, distribution center and corporate properties. The 8.750% senior secured notes contain covenants that include limitations on indebtedness, liens, mergers, acquisitions, asset sales, investments, dividend payments and equity distributions, in addition to certain change of control triggering events and provisions for events of default. Any redemption prior to the second quarter of 2022 may require a make-whole premium. Beginning the second quarter of 2022, we will be permitted to prepay all or part of our 8.750% senior secured notes.

Interest Expense

The components of interest expense, net are as follows:


Fiscal year	2020	2019	2018
Interest on long-term debt and short-term borrowings	$199	$151	$146
Less:
Interest income	(3)	(10)	(15)
Capitalized interest	(15)	(39)	(27)
Interest expense, net	$181	$102	$104

Credit Facilities

During the first quarter of 2020, we amended our existing Revolver and drew down $800. As of January 30, 2021, we paid the entirety of the outstanding balance under the facility. The Revolver contains customary representations, warranties, covenants and terms, including paying a variable rate of interest and a commitment fee based on our debt rating. Under the terms of the amendment, if our Leverage Ratio is greater than four or our unsecured debt is rated below BBB- with a stable outlook at Standard & Poor’s or Baa3 with a stable outlook at Moody’s, any borrowings under our Revolver will be secured by substantially all our personal property and we will be subject to asset coverage, fixed charge coverage and minimum liquidity covenants. If our Leverage Ratio is below four and our unsecured debt is rated at or above BBB- with a stable outlook at Standard & Poor’s or Baa3 with a stable outlook at Moody’s, any borrowings under our Revolver will be unsecured, we will not be subject to the above covenants and the restrictions on dividend payments and share repurchases will be removed. Should these covenants not be met, we would have restrictions on borrowing additional debt from the Revolver. As of January 30, 2021, our Leverage Ratio exceeded four and we did not meet or exceed our credit rating threshold. We met all other financial covenant measures for the quarter.

Provided that we obtain written consent from our lenders, we have the option to increase the Revolver by up to $200, to a total of $1,000, and two options to extend the Revolver by one year.

The Revolver expires in September 2023 and is available for working capital, capital expenditures and general corporate purposes. As of January 30, 2021 and February 1, 2020, we had no borrowings outstanding under our Revolver.

Our $800 commercial paper program allows us to use the proceeds to fund operating cash requirements. Under the terms of the commercial paper agreement, we pay a rate of interest based on, among other factors, the maturity of the issuance and market conditions. The issuance of commercial paper has the effect, while it is outstanding, of reducing available liquidity under the Revolver by an amount equal to the principal amount of commercial paper. As of January 30, 2021 and February 1, 2020, we had no issuances outstanding under our commercial paper program.

In 2018, we fully repaid $47 outstanding on our Puerto Rican unsecured borrowing facility and did not renew the facility upon expiration in the fourth quarter of 2018.

Fair Value Measurements

12 Months Ended

Jan. 30, 2021

Fair Value Disclosures [Abstract]

Fair Value Measurements

NOTE 9: FAIR VALUE MEASUREMENTS

We disclose our financial assets and liabilities that are measured at fair value in our Consolidated Balance Sheets by level within the fair value hierarchy as defined by applicable accounting standards:

Level 1: Quoted market prices in active markets for identical assets or liabilities

Level 2: Other observable market-based inputs or unobservable inputs that are corroborated by market data

Level 3: Unobservable inputs that cannot be corroborated by market data that reflect the reporting entity’s own assumptions

Financial Instruments Measured at Carrying Value

Financial instruments measured at carrying value on a recurring basis include cash and cash equivalents, accounts receivable and accounts payable, which approximate fair value due to their short-term nature.

Long-term debt is recorded at carrying value. If long-term debt was measured at fair value, we would use quoted market prices of the same or similar issues, which is considered Level 2 fair value measurement. The following table summarizes the carrying value and fair value estimate of our long-term debt, including current maturities:


	January 30, 2021	February 1, 2020
Carrying value of long-term debt	$3,269	$2,676
Fair value of long-term debt	3,430	2,905

Non-financial Assets Measured at Fair Value on a Nonrecurring Basis

We also measure certain non-financial assets at fair value on a nonrecurring basis, primarily goodwill, long-lived tangible and ROU assets, in connection with periodic evaluations for potential impairment. We estimate the fair value of these assets using primarily unobservable inputs and, as such, these are considered Level 3 fair value measurements. For more information regarding long-lived tangible and ROU asset impairment charges for the year-ended January 30, 2021, see Note 1: Nature of Operations and Summary of Significant Accounting Policies.

- Definition

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

Commitments And Contingencies	12 Months Ended
Commitments And Contingencies	Jan. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments And Contingencies	NOTE 10: COMMITMENTS AND CONTINGENCIES Our estimated total purchase obligations, which primarily consist of capital expenditure commitments and inventory purchase orders, were $2,035 as of January 30, 2021. In connection with the purchase of foreign merchandise, we have no outstanding trade letters of credit as of January 30, 2021. Our NYC flagship store opened in October 2019 and the related building and equipment assets were placed into service as of the end of the third quarter of 2019. While our store has opened, construction continues in the residential condominium units above the store. As of January 30, 2021, we have a fee interest in the retail condominium unit. We are committed to make one remaining installment payment based on the developer meeting final pre-established construction and development milestones. Precautions related to COVID-19 have caused delays in meeting these milestones and the timing of the remaining payment.

Shareholders' Equity

12 Months Ended

Jan. 30, 2021

Stockholders' Equity Note [Abstract]

Shareholders' Equity

NOTE 11: SHAREHOLDERS’ EQUITY

The following is a summary of the activity related to our share repurchase programs in 2020, 2019 and 2018:


	Shares	Average price per share	Amount
Capacity at February 3, 2018			$414
August 2018 authorization (no expiration)			1,500
Shares repurchased	14.3	$49	(702)
Expiration of unused February 2017 authorization capacity in August 2018			(319)
Capacity at February 2, 2019			893

Shares repurchased	4.1	$45	(186)
Capacity at February 1, 2020			707

Shares repurchased	—	—	—

Capacity at January 30, 2021			$707

On March 23, 2020, in response to uncertainty from the COVID-19 pandemic, we announced the suspension of our quarterly dividend payments beginning in the second quarter of 2020 and the immediate suspension of our share repurchase program. We remain committed to these programs over the long-term and intend to resume dividend payments and share repurchases when appropriate. The actual timing, price, manner and amounts of future share repurchases, if any, will be subject to the discretion of the Board of Directors, contractual commitments, market and economic conditions and applicable SEC rules.

The amendment to our Revolver contains negative covenants with respect to the payment of dividends and share repurchases when either our Leverage Ratio is above four or our unsecured debt is rated below BBB- with a stable outlook at Standard & Poor’s or Baa3 with a stable outlook at Moody’s. As of January 30, 2021, our Leverage Ratio exceeded four and we did not meet our credit rating covenant, preventing us from paying dividends or repurchasing shares.

We paid dividends of $0.37 in 2020 and $1.48 per share in 2019 and 2018.

Stock-Based Compensation

12 Months Ended

Jan. 30, 2021

Share-based Payment Arrangement, Noncash Expense [Abstract]

Stock-Based Compensation

NOTE 12: STOCK-BASED COMPENSATION

Under our deferred and stock-based compensation plan arrangements, we issued 2.2, 2.1 and 4.9 shares of common stock

in 2020, 2019 and 2018. Under the 2019 Plan, the aggregate number of shares to be issued may not exceed 9.5 plus any shares currently outstanding under the 2010 Plan that are forfeited or expire during the term of the 2019 Plan. As of January 30, 2021, we have 24.5 shares authorized, 16.2 shares issued and outstanding and 18.3 shares remaining available for future grants under the 2019 Plan.

Under the ESPP, employees may make payroll deductions of up to 10% of their base and bonus compensation for the purchase of Nordstrom common stock. At the end of each six-month offering period, participants apply their accumulated payroll deductions toward the purchase of shares of our common stock at 90% of the fair market value on the last day of the offer period. As of January 30, 2021, we had 12.6 shares authorized and 3.8 shares available for issuance under the ESPP. We issued 1.0 and 0.5 shares under the ESPP during 2020 and 2019. At the end of 2020 and 2019, we had current liabilities of $5 for future purchases of shares under the ESPP.

During the year, we cancelled the grant of PSU awards to employees due to negative financial impacts of the COVID-19 pandemic and we therefore had no financial impacts from these awards during the year.

The following table summarizes our stock-based compensation expense:


Fiscal year	2020	2019	2018
RSUs	$53	$49	$71
Stock options	12	11	12
Other1	2	9	7
Total stock-based compensation expense, before income tax benefit	67	69	90
Income tax benefit	(26)	(18)	(23)
Total stock-based compensation expense, net of income tax benefit	$41	$51	$67

1 Other stock-based compensation expense includes PSUs, ESPP and nonemployee director stock awards.

The stock-based compensation expense before income tax benefit was recorded in our Consolidated Statements of Earnings as follows:


Fiscal year	2020	2019	2018
Cost of sales and related buying and occupancy costs	$16	$20	$28
SG&A expenses	51	49	62
Total stock-based compensation expense, before income tax benefit	$67	$69	$90

Restricted Stock

Our Compensation, People and Culture Committee of our Board of Directors approves grants of restricted stock units to employees. The number of units granted to an individual are determined based upon a percentage of the recipient’s base salary and the fair value of the restricted stock. Restricted stock units typically vest over four years.

A summary of restricted stock unit activity for 2020 is presented below:


Fiscal year	2020
	Shares	Weighted-average grant date fair value per unit
Outstanding, beginning of year	3.2	$44
Granted	3.6	21
Vested	(1.2)	51
Forfeited or cancelled	(0.8)	31
Outstanding, end of year	4.8	$37

The aggregate fair value of restricted stock units vested during 2020, 2019 and 2018 was $44, $65 and $54. As of January 30, 2021, the total unrecognized stock-based compensation expense related to nonvested restricted stock units was $74, which is expected to be recognized over a weighted-average period of 25 months.

Stock Options

Our Compensation, People and Culture Committee of our Board of Directors approves grants of nonqualified stock options to employees. We used the following assumptions to estimate the fair value for stock options at each grant date:


Fiscal year1		2020			2019
Assumptions
	Risk-free interest rate: Represents the yield on U.S. Treasury zero-coupon securities that mature over the 10-year life of the stock options.		0.18% – 0.62%			2.5% – 2.7%
	Weighted-average volatility: Based on a combination of the historical volatility of our common stock and the implied volatility of exchange-traded options for our common stock.		60.1	%		34.6	%
	Weighted-average expected dividend yield: Our forecasted dividend yield for the next 10 years.		3.4	%		1.9	%
	Expected life in years: Represents the estimated period of time until option exercise. The expected term of options granted was derived from the output of the Binomial Lattice option valuation model and was based on our historical exercise behavior, taking into consideration the contractual term of the option and our employees’ expected exercise and post-vesting employment termination behavior.		7.7			6.8

Grant Date Information
	Date of grant		June 1, 2020			March 5, 2019
	Weighted-average fair value per option		$7			$15
	Exercise price per option		$17			$45

1 There were no stock options granted in 2018.

Additional nonqualified stock options were also granted to certain company leaders on August 27, 2020 at an exercise price per option of $15. The assumptions used to estimate the fair value for the additional stock options were similar to the grant assumptions presented above. In 2020, we also granted stock options to certain qualified employees outside of the June and August grant dates, which were insignificant in aggregate. The number of awards granted to an individual are determined based upon target award amounts and fair value of stock options at the time of grant. Our options primarily vest equally over a four year period or at the end of two years, and expire ten years after the date of grant.

A summary of stock option activity for 2020 is presented below:


Fiscal year	2020
	Shares	Weighted- average exercise price	Weighted-average remaining contractual life (years)	Aggregate intrinsic value
Outstanding, beginning of year	8.3	$53
Granted	3.9	16
Exercised	(0.2)	34
Forfeited or cancelled	(1.0)	53
Outstanding, end of year	11.0	$40	6	$52
Vested, end of year	6.3	$54	3	$117
Vested or expected to vest, end of year	10.9	$40	6	$51

Fiscal year		2020	2019	2018
Aggregate intrinsic value of options exercised		$1	$5	$67
Fair value of stock options vested		$8	$17	$22

As of January 30, 2021, the total unrecognized stock-based compensation expense related to nonvested stock options was $24, which is expected to be recognized over a weighted-average period of 20 months.

Income Taxes

12 Months Ended

Jan. 30, 2021

Income Tax Disclosure [Abstract]

Income Taxes

NOTE 13: INCOME TAXES

U.S. and foreign components of earnings before income taxes were as follows:


Fiscal year	2020	2019	2018
U.S.	($1,210)	$654	$792
Foreign	(18)	28	(59)
(Loss) earnings before income taxes	($1,228)	$682	$733

Income tax expense consists of the following:


Fiscal year	2020	2019	2018
Current income taxes:
Federal	($501)	$90	$147
State and local	(34)	44	56
Foreign	4	—	—
Total current income tax (benefit) expense	(531)	134	203
Deferred income taxes:
Federal	47	43	(5)
State and local	(57)	3	(3)
Foreign	3	6	(26)
Total deferred income tax (benefit) expense	(7)	52	(34)
Total income tax (benefit) expense	($538)	$186	$169

A reconciliation of the statutory federal income tax rate to the effective tax rate on earnings before income taxes is as follows:


Fiscal year	2020		2019		2018
Statutory rate	21.0	%	21.0	%	21.0	%
CARES Act impact	17.6	%	—		—
Tax Act impact	—		—		(0.1	%)
State and local income taxes, net of federal income taxes	6.1	%	5.4	%	5.8	%
Federal credits	0.5	%	(0.9	%)	(1.5	%)
Valuation allowance release	—		—		(1.2	%)
Other, net	(1.4	%)	1.8	%	(0.9	%)
Effective tax rate	43.8	%	27.3	%	23.1	%

The components of deferred tax assets and liabilities are as follows:


	January 30, 2021	February 1, 2020
Deferred tax assets:
Lease liabilities	$505	$555
Compensation and benefits accruals	139	145
Allowance for sales returns	43	47
Accrued expenses	28	29
Merchandise inventories	22	20
Gift cards	10	39
The Nordy Club loyalty program	19	10
Net operating losses	72	33
Other	23	5
Total deferred tax assets	861	883
Valuation allowance	(24)	(41)
Total net deferred tax assets	837	842
Deferred tax liabilities:
ROU assets	(337)	(377)
Land, property and equipment	(341)	(312)
Debt exchange premium	(12)	(13)
Total deferred tax liabilities	(690)	(702)
Net deferred tax assets	$147	$140

The following sets forth information on approximate net operating loss carryforwards for income tax purposes:


	January 30, 2021	February 1, 2020
State	$1,036	$25
Foreign	54	102

The net operating loss carryforwards are subject to certain statutory limitations of applicable state and foreign laws. If not utilized, a portion of our state and foreign net operating loss carryforwards will begin to expire in 2024 and 2033.

As of January 30, 2021 and February 1, 2020, we believe there are certain foreign net operating loss carryforwards and deferred tax assets that will not be realized in the foreseeable future. As such, valuation allowances of $24 and $41 have been recorded as of January 30, 2021 and February 1, 2020. The net change in valuation allowance for 2020 and 2019 was a decrease of $17 and $2.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:


Fiscal year	2020	2019	2018
Unrecognized tax benefit at beginning of year	$22	$30	$31
Gross increase to tax positions in prior periods	4	—	9
Gross decrease to tax positions in prior periods	—	—	(14)
Gross increase to tax positions in current period	6	3	6
Lapses in statute	—	(1)	(2)
Settlements	—	(10)	—
Unrecognized tax benefit at end of year	$32	$22	$30

At the end of 2020 and 2019, $30 and $22 of the ending gross unrecognized tax benefit related to items which, if recognized, would affect the effective tax rate.

There was no material expense for interest and penalties in 2020, 2019 and 2018. At the end of 2020 and 2019, our liability for interest and penalties was $4 and $3.

We file income tax returns in the U.S. and a limited number of foreign jurisdictions. With few exceptions, we are no longer subject to federal, state and local, or non-U.S. income tax examinations for years before 2012. As of January 30, 2021, we believe it is reasonably possible unrecognized tax benefits related to federal, state and local tax positions may decrease $18 by January 29, 2022, due to the completion of examinations and the expiration of various statutes of limitations.

Earnings Per Share

12 Months Ended

Jan. 30, 2021

Earnings Per Share [Abstract]

Earnings Per Share

NOTE 14: EARNINGS PER SHARE

Earnings per basic share is computed using the weighted-average number of common shares outstanding during the year. Earnings per diluted share uses the weighted-average number of common shares outstanding during the year plus dilutive common stock equivalents, primarily RSUs and stock options. Dilutive common stock is calculated using the treasury stock method and includes unvested RSUs and outstanding options that would reduce the amount of earnings for which each share is entitled. Anti-dilutive shares (including stock options and other shares) are excluded from the calculation of diluted shares and earnings per diluted share because their impact could increase earnings per diluted share. The computation of earnings per share is as follows:


Fiscal year	2020	2019	2018
Net (loss) earnings	($690)	$496	$564

Basic shares	157.2	155.2	167.3
Dilutive effect of common stock equivalents	—	0.9	2.7
Diluted shares	157.2	156.1	170.0

(Loss) earnings per basic share	($4.39)	$3.20	$3.37
(Loss) earnings per diluted share	($4.39)	$3.18	$3.32

Anti-dilutive common stock equivalents	13.5	10.0	5.2

Segment Reporting

12 Months Ended

Jan. 30, 2021

Segment Reporting [Abstract]

Segment Reporting

NOTE 15: SEGMENT REPORTING

Segments

We continually monitor and review our segment reporting structure in accordance with authoritative guidance to determine whether any changes have occurred that would impact our reportable segments. We have one reportable “Retail” segment to align with how management operates and evaluates the results of our operations. Our principal executive officer, who is our CODM, reviews results on a total company, Nordstrom and Nordstrom Rack basis and uses EBIT as a measure of profitability.

Our Retail reportable segment aggregates our two operating segments, Nordstrom and Nordstrom Rack. Nordstrom consists of Nordstrom.com, TrunkClub.com, Nordstrom-branded U.S. stores, Canada, which includes Nordstrom.ca, Nordstrom Canadian stores and Nordstrom Rack Canadian stores, Nordstrom Local and, prior to the second quarter of 2020, Jeffrey. Nordstrom Rack consists of Nordstromrack.com, HauteLook.com, Nordstrom Rack-branded U.S. stores and Last Chance clearance stores.

Our Nordstrom and Nordstrom Rack operating segments both generate revenue by offering customers an extensive selection of high-quality brand-name and private label merchandise focused on apparel, shoes, beauty, accessories and home goods for women, men, young adults and children. We continue to focus on omni-channel initiatives by integrating the operations, merchandising and technology necessary to be consistent with our customers’ expectations of a seamless shopping experience regardless of channel or business. Nordstrom and Nordstrom Rack have historically had similar economic characteristics and are expected to have similar economic characteristics and long-term financial performance in future periods. They also have other similar qualitative characteristics, including suppliers, method of distribution, type of customer and regulatory environment. Due to their similar qualitative and economic characteristics, we have aggregated our Nordstrom and Nordstrom Rack operating segments into a single reportable segment.

Amounts in the Corporate/Other column include unallocated corporate expenses and assets (including unallocated assets in corporate headquarters, consisting primarily of cash, land, buildings and equipment and deferred tax assets), inter-segment eliminations and other adjustments to segment results necessary for the presentation of consolidated financial results in accordance with GAAP.

Accounting Policy

We present our segment results for all years in the way that management views our results internally and the accounting policies of the operating segments are the same as those described in Note 1: Nature of Operations and Summary of Significant Accounting Policies.

The following table sets forth information for our reportable segment:


	Retail	Corporate/Other	Total
Fiscal year 2020
Net sales	$10,357	$—	$10,357
Credit card revenues, net	—	358	358
Loss before interest and income taxes	(924)	(123)	(1,047)
Interest expense, net	—	(181)	(181)
Loss before income taxes	(924)	(304)	(1,228)
Capital expenditures	(175)	(210)	(385)
Depreciation and amortization	(404)	(267)	(671)
Assets	6,100	3,438	9,538

Fiscal year 2019
Net sales	$15,132	$—	$15,132
Credit card revenues, net	—	392	392
Earnings (loss) before interest and income taxes	1,028	(244)	784
Interest expense, net	—	(102)	(102)
Earnings (loss) before income taxes	1,028	(346)	682
Capital expenditures	(726)	(209)	(935)
Depreciation and amortization	(428)	(233)	(661)
Assets1	6,831	2,906	9,737

Fiscal year 2018
Net sales	$15,480	$—	$15,480
Credit card revenues, net	—	380	380
Earnings (loss) before interest and income taxes	1,059	(222)	837
Interest expense, net	—	(104)	(104)
Earnings (loss) before income taxes	1,059	(326)	733
Capital expenditures	(415)	(239)	(654)
Depreciation and amortization	(436)	(233)	(669)
Assets	5,300	2,586	7,886

1 In 2019, we adopted the Lease Standard using the transition method provided in ASU 2018-11. See Note 3: Leases for further information.

For information about disaggregated revenues, see Note 2: Revenue.

Nature Of Operations And Summary Of Significant Accounting Policies (Policy)

12 Months Ended

Jan. 30, 2021

Accounting Policies [Abstract]

Fiscal Year

Principles of Consolidation

The Consolidated Financial Statements include the balances of Nordstrom, Inc. and its subsidiaries. All intercompany transactions and balances are eliminated in consolidation.

Use of Estimates

Use of EstimatesThe preparation of financial statements in conformity with GAAP in the U.S. requires that we make estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and disclosure of contingent assets and liabilities during the reporting period. Uncertainties regarding such estimates and assumptions are inherent in the preparation of financial statements and actual results may differ from these estimates and assumptions. Our most significant accounting judgments and estimates include revenue recognition, inventory valuation, long-lived asset recoverability and income taxes, all of which involve assumptions about future events. We may be unable to accurately predict the impact of COVID-19 going forward and as a result our estimates may change in the near term.

Revenue

Net Sales

Loyalty Program

Gift Cards

Credit Card Revenues, net

Cost of Sales

Cost of SalesCost of sales primarily includes the purchase and manufacturing costs of inventory sold, net of vendor allowances, and in-bound freight expense.

Buying and Occupancy Costs

Selling, General and Administrative Expenses

SG&A expenses consist primarily of compensation and benefit costs, marketing, supply chain and technology.

Severance

Estimated Non-recurring Charge

Advertising

Vendor Allowances


Fiscal year	2020	2019	2018
Purchase price adjustments	$77	$171	$180
Beauty expenses	79	140	149
Advertising	82	101	115
Other	2	6	6
Total vendor allowances	$240	$418	$450

Shipping and Handling Costs

Stock-Based Compensation

New Store Opening Costs

Income Taxes

CARES Act

Comprehensive Net Earnings

Comprehensive Net EarningsComprehensive net earnings consist of net earnings and other gains and losses affecting equity that are excluded from net earnings. These consist of postretirement plan adjustments, net of related income tax effects, and foreign currency translation adjustments.

Cash Equivalents

Accounts Receivable

Accounts receivable, net primarily includes receivables from non-Nordstrom-branded credit and debit cards and developer reimbursements.

Merchandise Inventories

Leases

Land, Property and Equipment


Asset			Life (in years)
Buildings and improvements			5 – 40
Store fixtures and equipment			3 – 15
Leasehold improvements			5 – 40
Capitalized software			2 – 7

We receive contributions from vendors for the construction of certain fixtures in our stores.

Long-Lived Assets


Fiscal year			2020
Long-lived asset impairment1			$96
Operating lease ROU asset impairment1			41
Total asset impairment			$137

1 As of January 30, 2021, the carrying value of the applicable long-lived and operating lease ROU assets after impairment was $13 and $3.

These charges are primarily included in our Retail segment SG&A expense on the Consolidated Statement of Earnings.

Goodwill

Self-Insurance

Foreign Currency

Recent Accounting Pronouncements

Earnings Per Share

NOTE 14: EARNINGS PER SHARE Earnings per basic share is computed using the weighted-average number of common shares outstanding during the year. Earnings per diluted share uses the weighted-average number of common shares outstanding during the year plus dilutive common stock equivalents, primarily RSUs and stock options. Dilutive common stock is calculated using the treasury stock method and includes unvested RSUs and outstanding options that would reduce the amount of earnings for which each share is entitled. Anti-dilutive shares (including stock options and other shares) are excluded from the calculation of diluted shares and earnings per diluted share because their impact could increase earnings per diluted share.

Segment Reporting

Accounting PolicyWe present our segment results for all years in the way that management views our results internally and the accounting policies of the operating segments are the same as those described in Note 1: Nature of Operations and Summary of Significant Accounting Policies

Nature Of Operations And Summary Of Significant Accounting Policies (Tables)

12 Months Ended

Jan. 30, 2021

Accounting Policies [Abstract]

Vendor Allowances

Vendor allowances earned are as follows:


Fiscal year	2020	2019	2018
Purchase price adjustments	$77	$171	$180
Beauty expenses	79	140	149
Advertising	82	101	115
Other	2	6	6
Total vendor allowances	$240	$418	$450

Estimated Useful Life Of Land, Property And Equipment By Asset Category

Depreciation and amortization are computed using the straight-line method over the asset’s estimated useful life, which is determined by asset category as follows:


Asset			Life (in years)
Buildings and improvements			5 – 40
Store fixtures and equipment			3 – 15
Leasehold improvements			5 – 40
Capitalized software			2 – 7

The following table provides details related to asset impairment charges as a result of COVID-19:


Fiscal year			2020
Long-lived asset impairment1			$96
Operating lease ROU asset impairment1			41
Total asset impairment			$137

1 As of January 30, 2021, the carrying value of the applicable long-lived and operating lease ROU assets after impairment was $13 and $3.

Revenue (Tables)

12 Months Ended

Jan. 30, 2021

Revenue from Contract with Customer [Abstract]

Summary Of Contract Liabilities

Our contract liabilities are classified as current on the Consolidated Balance Sheets and are as follows:


			Contract Liabilities
Balance as of February 2, 2019			$548
Balance as of February 1, 2020			576
Balance as of January 30, 2021			478

Disaggregated Net Sales

The following table summarizes our disaggregated net sales:


Fiscal year	2020	2019	2018
Nordstrom	$6,997	$9,943	$10,299
Nordstrom Rack	3,360	5,189	5,181

Total net sales	$10,357	$15,132	$15,480

Digital sales as % of total net sales	55%	33%	30%

Percent Of Net Sales By Merchandise Category Summary

The following table summarizes the percent of net sales by merchandise category:


Fiscal year	2020	2019	2018
Women’s Apparel	29%	31%	32%
Shoes	26%	24%	24%
Women’s Accessories	14%	11%	11%
Men’s Apparel	12%	16%	16%
Beauty	12%	11%	11%
Kids’ Apparel	4%	4%	4%
Other	3%	3%	2%
Total net sales	100%	100%	100%

Leases (Tables)

12 Months Ended

Jan. 30, 2021

Leases [Abstract]

Components Of Lease Cost

The following table summarizes the components of lease cost:


Fiscal year	2020	2019
Operating Lease Cost	$263	$278
Variable lease cost1	100	105
Sublease income	(19)	(9)
Total lease cost, net	$344	$374

1 Variable lease cost includes short-term lease cost, which was immaterial in 2020 and 2019.

Future Lease Payments

The following table summarizes future lease payments as of January 30, 2021:


Fiscal year									Operating Leases
2021									$344
2022									338
2023									312
2024									265
2025									217
Thereafter									985
Total lease payments									2,461

Less: amount representing interest									(514)
Present value of net lease payments1									$1,947

1 None of our payments for operating leases were signed but not yet commenced as of January 30, 2021.

Supplemental Lease Information

The following table includes supplemental information:


Fiscal year	2020		2019
Cash paid related to operating lease liabilities	$332		$360
Operating lease interest	95		101
Operating lease liabilities arising upon adoption of the Lease Standard	—		2,224
Operating lease liabilities arising from the commencement of lease agreements	79		150



	January 30, 2021		February 1, 2020
Weighted-average remaining lease term	9 years		10 years
Weighted-average discount rate	4.7	%	4.7	%

Schedule Of Rent Expense

The following table summarizes rent expense before adoption of the Lease Standard:


Fiscal year			2018
Minimum rent			$321
Percentage rent			9
Property incentives			(79)
Total rent expense			$251

Land, Property And Equipment (Tables)

12 Months Ended

Jan. 30, 2021

Property, Plant and Equipment [Abstract]

Schedule Of Land, Property And Equipment

Land, property and equipment consist of the following:


	January 30, 2021	February 1, 2020
Land and land improvements	$285	$288
Buildings and building improvements	1,446	1,591
Leasehold improvements	3,212	3,263
Store fixtures and equipment	3,993	4,015
Capitalized software	1,724	1,547
Construction in progress	231	470
Land, property and equipment	10,891	11,174
Less: accumulated depreciation and amortization	(7,159)	(6,995)
Land, property and equipment, net	$3,732	$4,179

Self-Insurance (Tables)

12 Months Ended

Jan. 30, 2021

Self Insurance [Abstract]

Summary Of Self-Insurance Reserves

Our self-insurance reserves are summarized as follows:


	January 30, 2021	February 1, 2020
Workers’ compensation	$74	$79
Employee health and welfare	25	25
Other liability	15	14
Total self-insurance reserve	$114	$118

Postretirement Benefits (Tables)

12 Months Ended

Jan. 30, 2021

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

Benefit Obligations And Funded Status

Our benefit obligation and funded status is as follows:


	January 30, 2021	February 1, 2020
Change in benefit obligation:
Benefit obligation at beginning of year	$224	$190
Participant service cost	2	2
Interest cost	6	7
Benefits paid	(10)	(9)
Actuarial loss	7	34

Benefit obligation at end of year	229	224
Change in plan assets:
Fair value of plan assets at beginning of year	—	—
Employer contribution	10	9
Benefits paid	(10)	(9)
Fair value of plan assets at end of year	—	—
Underfunded status at end of year	($229)	($224)

Amounts Recognized As Liabilities In The Consolidated Balance Sheets

Amounts recognized as liabilities in the Consolidated Balance Sheets consist of the following:


	January 30, 2021	February 1, 2020
Accrued salaries, wages and related benefits	$11	$11
Other liabilities (noncurrent)	218	213
Net amount recognized	$229	$224

Components Of SERP Expense Recognized In The Consolidated Statements Of Earnings

The components of SERP expense recognized in the Consolidated Statements of Earnings are as follows:


Fiscal year	2020	2019	2018
Participant service cost	$2	$2	$2
Interest cost	6	7	7
Amortization of net loss and other	9	1	5
Total SERP expense	$17	$10	$14

Amounts Not Yet Reflected In SERP Expense And Included In Accumulated Other Comprehensive Loss (Pre-Tax)

Amounts not yet reflected in SERP expense and included in accumulated other comprehensive loss (pre-tax) consist of the following:


	January 30, 2021	February 1, 2020
Accumulated loss	($61)	($62)
Prior service credit	—	—
Total accumulated other comprehensive loss	($61)	($62)

Weighted-Average Assumptions Used To Determine Benefit Obligations And SERP Expense

Weighted-average assumptions used to determine our benefit obligation and SERP expense are as follows:


Fiscal year	2020		2019		2018
Assumptions used to determine benefit obligation:
Discount rate	2.62	%	2.97	%	4.27	%
Rate of compensation increase	2.50	%	2.50	%	2.50	%
Assumptions used to determine SERP expense:
Discount rate	2.97	%	4.27	%	3.95	%
Rate of compensation increase	2.50	%	2.50	%	3.00	%

Expected Future Benefit Payments Including Benefits Attributable To Estimated Future Employee Service

As of January 30, 2021, the expected future benefit payments based upon the assumptions described above and including benefits attributable to estimated future employee service are as follows:


Fiscal year
2021			$11
2022			11
2023			12
2024			12
2025			12
2026 – 2030			62

Debt And Credit Facilities (Tables)

12 Months Ended

Jan. 30, 2021

Debt Disclosure [Abstract]

Summary Of Long-Term Debt

A summary of our long-term debt is as follows:


	January 30, 2021	February 1, 2020






Long-term debt, net of unamortized discount:

Senior notes, 4.00%, due October 2021	500	500
Senior notes, 8.75%, due May 2025	600	—
Senior notes, 4.00%, due March 2027	349	349
Senior debentures, 6.95%, due March 2028	300	300
Senior notes, 4.375%, due April 2030	500	500
Senior notes, 7.00%, due January 2038	147	147
Senior notes, 5.00%, due January 2044	900	897
Deferred bond issuance costs	(27)	(17)
Total long-term debt	3,269	2,676

Less: current portion	(500)	—
Total due beyond one year	$2,769	$2,676

Schedule Of Required Principal Payments On Long-Term Debt

Required principal payments on long-term debt are as follows:


Fiscal year
2021			$500
2022			—
2023			—
2024			—
2025			600
Thereafter			2,264

Components Of Interest Expense, Net

The components of interest expense, net are as follows:


Fiscal year	2020	2019	2018
Interest on long-term debt and short-term borrowings	$199	$151	$146
Less:
Interest income	(3)	(10)	(15)
Capitalized interest	(15)	(39)	(27)
Interest expense, net	$181	$102	$104

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Fair Value Measurements (Tables)

12 Months Ended

Jan. 30, 2021

Fair Value Disclosures [Abstract]

Summary Of Carrying Value And Fair Value Estimate Of Long-Term Debt, Including Current Maturities

The following table summarizes the carrying value and fair value estimate of our long-term debt, including current maturities:


	January 30, 2021	February 1, 2020
Carrying value of long-term debt	$3,269	$2,676
Fair value of long-term debt	3,430	2,905

Shareholders' Equity (Tables)

12 Months Ended

Jan. 30, 2021

Stockholders' Equity Note [Abstract]

Summary Of Share Repurchase Program Activity

The following is a summary of the activity related to our share repurchase programs in 2020, 2019 and 2018:


	Shares	Average price per share	Amount
Capacity at February 3, 2018			$414
August 2018 authorization (no expiration)			1,500
Shares repurchased	14.3	$49	(702)
Expiration of unused February 2017 authorization capacity in August 2018			(319)
Capacity at February 2, 2019			893

Shares repurchased	4.1	$45	(186)
Capacity at February 1, 2020			707

Shares repurchased	—	—	—

Capacity at January 30, 2021			$707

Stock-Based Compensation (Tables)

12 Months Ended

Jan. 30, 2021

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary Of Stock-Based Compensation Expense

The following table summarizes our stock-based compensation expense:


Fiscal year	2020	2019	2018
RSUs	$53	$49	$71
Stock options	12	11	12
Other1	2	9	7
Total stock-based compensation expense, before income tax benefit	67	69	90
Income tax benefit	(26)	(18)	(23)
Total stock-based compensation expense, net of income tax benefit	$41	$51	$67

1 Other stock-based compensation expense includes PSUs, ESPP and nonemployee director stock awards.

Stock-Based Compensation Expense Before Income Tax Benefit

The stock-based compensation expense before income tax benefit was recorded in our Consolidated Statements of Earnings as follows:


Fiscal year	2020	2019	2018
Cost of sales and related buying and occupancy costs	$16	$20	$28
SG&A expenses	51	49	62
Total stock-based compensation expense, before income tax benefit	$67	$69	$90

Assumptions To Estimate The Fair Value For Stock Options At Grant Date

We used the following assumptions to estimate the fair value for stock options at each grant date:


Fiscal year1		2020			2019
Assumptions
	Risk-free interest rate: Represents the yield on U.S. Treasury zero-coupon securities that mature over the 10-year life of the stock options.		0.18% – 0.62%			2.5% – 2.7%
	Weighted-average volatility: Based on a combination of the historical volatility of our common stock and the implied volatility of exchange-traded options for our common stock.		60.1	%		34.6	%
	Weighted-average expected dividend yield: Our forecasted dividend yield for the next 10 years.		3.4	%		1.9	%
	Expected life in years: Represents the estimated period of time until option exercise. The expected term of options granted was derived from the output of the Binomial Lattice option valuation model and was based on our historical exercise behavior, taking into consideration the contractual term of the option and our employees’ expected exercise and post-vesting employment termination behavior.		7.7			6.8

Grant Date Information
	Date of grant		June 1, 2020			March 5, 2019
	Weighted-average fair value per option		$7			$15
	Exercise price per option		$17			$45

1 There were no stock options granted in 2018.

Summary Of Stock Option Activity

A summary of stock option activity for 2020 is presented below:


Fiscal year	2020
	Shares	Weighted- average exercise price	Weighted-average remaining contractual life (years)	Aggregate intrinsic value
Outstanding, beginning of year	8.3	$53
Granted	3.9	16
Exercised	(0.2)	34
Forfeited or cancelled	(1.0)	53
Outstanding, end of year	11.0	$40	6	$52
Vested, end of year	6.3	$54	3	$117
Vested or expected to vest, end of year	10.9	$40	6	$51

Fiscal year		2020	2019	2018
Aggregate intrinsic value of options exercised		$1	$5	$67
Fair value of stock options vested		$8	$17	$22

Restricted stock units [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary Of Restricted Stock Unit Activity

A summary of restricted stock unit activity for 2020 is presented below:


Fiscal year	2020
	Shares	Weighted-average grant date fair value per unit
Outstanding, beginning of year	3.2	$44
Granted	3.6	21
Vested	(1.2)	51
Forfeited or cancelled	(0.8)	31
Outstanding, end of year	4.8	$37

Income Taxes (Tables)

12 Months Ended

Jan. 30, 2021

Income Tax Disclosure [Abstract]

U.S. And Foreign Components Of Earnings Before Income Taxes

U.S. and foreign components of earnings before income taxes were as follows:


Fiscal year	2020	2019	2018
U.S.	($1,210)	$654	$792
Foreign	(18)	28	(59)
(Loss) earnings before income taxes	($1,228)	$682	$733

Components Of Income Tax Expense

Income tax expense consists of the following:


Fiscal year	2020	2019	2018
Current income taxes:
Federal	($501)	$90	$147
State and local	(34)	44	56
Foreign	4	—	—
Total current income tax (benefit) expense	(531)	134	203
Deferred income taxes:
Federal	47	43	(5)
State and local	(57)	3	(3)
Foreign	3	6	(26)
Total deferred income tax (benefit) expense	(7)	52	(34)
Total income tax (benefit) expense	($538)	$186	$169

Reconciliation Of Statutory To Effective Tax Rate

A reconciliation of the statutory federal income tax rate to the effective tax rate on earnings before income taxes is as follows:


Fiscal year	2020		2019		2018
Statutory rate	21.0	%	21.0	%	21.0	%
CARES Act impact	17.6	%	—		—
Tax Act impact	—		—		(0.1	%)
State and local income taxes, net of federal income taxes	6.1	%	5.4	%	5.8	%
Federal credits	0.5	%	(0.9	%)	(1.5	%)
Valuation allowance release	—		—		(1.2	%)
Other, net	(1.4	%)	1.8	%	(0.9	%)
Effective tax rate	43.8	%	27.3	%	23.1	%

Components Of Deferred Tax Assets And Liabilities

The components of deferred tax assets and liabilities are as follows:


	January 30, 2021	February 1, 2020
Deferred tax assets:
Lease liabilities	$505	$555
Compensation and benefits accruals	139	145
Allowance for sales returns	43	47
Accrued expenses	28	29
Merchandise inventories	22	20
Gift cards	10	39
The Nordy Club loyalty program	19	10
Net operating losses	72	33
Other	23	5
Total deferred tax assets	861	883
Valuation allowance	(24)	(41)
Total net deferred tax assets	837	842
Deferred tax liabilities:
ROU assets	(337)	(377)
Land, property and equipment	(341)	(312)
Debt exchange premium	(12)	(13)
Total deferred tax liabilities	(690)	(702)
Net deferred tax assets	$147	$140

Information On Approximate Net Operating Loss Carryforwards

The following sets forth information on approximate net operating loss carryforwards for income tax purposes:


	January 30, 2021	February 1, 2020
State	$1,036	$25
Foreign	54	102

Reconciliation Of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:


Fiscal year	2020	2019	2018
Unrecognized tax benefit at beginning of year	$22	$30	$31
Gross increase to tax positions in prior periods	4	—	9
Gross decrease to tax positions in prior periods	—	—	(14)
Gross increase to tax positions in current period	6	3	6
Lapses in statute	—	(1)	(2)
Settlements	—	(10)	—
Unrecognized tax benefit at end of year	$32	$22	$30

Earnings Per Share (Tables)

12 Months Ended

Jan. 30, 2021

Earnings Per Share [Abstract]

Computation Of Earnings Per Share

The computation of earnings per share is as follows:


Fiscal year	2020	2019	2018
Net (loss) earnings	($690)	$496	$564

Basic shares	157.2	155.2	167.3
Dilutive effect of common stock equivalents	—	0.9	2.7
Diluted shares	157.2	156.1	170.0

(Loss) earnings per basic share	($4.39)	$3.20	$3.37
(Loss) earnings per diluted share	($4.39)	$3.18	$3.32

Anti-dilutive common stock equivalents	13.5	10.0	5.2

Segment Reporting (Tables)

12 Months Ended

Jan. 30, 2021

Segment Reporting [Abstract]

Information By Reportable Segment

The following table sets forth information for our reportable segment:


	Retail	Corporate/Other	Total
Fiscal year 2020
Net sales	$10,357	$—	$10,357
Credit card revenues, net	—	358	358
Loss before interest and income taxes	(924)	(123)	(1,047)
Interest expense, net	—	(181)	(181)
Loss before income taxes	(924)	(304)	(1,228)
Capital expenditures	(175)	(210)	(385)
Depreciation and amortization	(404)	(267)	(671)
Assets	6,100	3,438	9,538

Fiscal year 2019
Net sales	$15,132	$—	$15,132
Credit card revenues, net	—	392	392
Earnings (loss) before interest and income taxes	1,028	(244)	784
Interest expense, net	—	(102)	(102)
Earnings (loss) before income taxes	1,028	(346)	682
Capital expenditures	(726)	(209)	(935)
Depreciation and amortization	(428)	(233)	(661)
Assets1	6,831	2,906	9,737

Fiscal year 2018
Net sales	$15,480	$—	$15,480
Credit card revenues, net	—	380	380
Earnings (loss) before interest and income taxes	1,059	(222)	837
Interest expense, net	—	(104)	(104)
Earnings (loss) before income taxes	1,059	(326)	733
Capital expenditures	(415)	(239)	(654)
Depreciation and amortization	(436)	(233)	(669)
Assets	5,300	2,586	7,886

1 In 2019, we adopted the Lease Standard using the transition method provided in ASU 2018-11. See Note 3: Leases for further information.

Nature Of Operations And Summary Of Significant Accounting Policies (Vendor Allowances) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 30, 2021	Feb. 01, 2020	Feb. 02, 2019
Nature Of Retail Operations [Line Items]
Total vendor allowances	$ 240	$ 418	$ 450
Purchase price adjustments [Member]
Nature Of Retail Operations [Line Items]
Total vendor allowances	77	171	180
Beauty expenses [Member]
Nature Of Retail Operations [Line Items]
Total vendor allowances	79	140	149
Advertising [Member]
Nature Of Retail Operations [Line Items]
Total vendor allowances	82	101	115
Other [Member]
Nature Of Retail Operations [Line Items]
Total vendor allowances	$ 2	$ 6	$ 6

Nature Of Operations And Summary Of Significant Accounting Policies (Estimated Useful Life of Land, Property And Equipment By Asset Category) (Details)	12 Months Ended
	Jan. 30, 2021
Buildings and improvements [Member] \| Minimum [Member]
Land, Property and Equipment [Line Items]
Estimated useful life (in years)	5 years
Buildings and improvements [Member] \| Maximum [Member]
Land, Property and Equipment [Line Items]
Estimated useful life (in years)	40 years
Store fixtures and equipment [Member] \| Minimum [Member]
Land, Property and Equipment [Line Items]
Estimated useful life (in years)	3 years
Store fixtures and equipment [Member] \| Maximum [Member]
Land, Property and Equipment [Line Items]
Estimated useful life (in years)	15 years
Leasehold improvements [Member] \| Minimum [Member]
Land, Property and Equipment [Line Items]
Estimated useful life (in years)	5 years
Leasehold improvements [Member] \| Maximum [Member]
Land, Property and Equipment [Line Items]
Estimated useful life (in years)	40 years
Capitalized software [Member] \| Minimum [Member]
Land, Property and Equipment [Line Items]
Estimated useful life (in years)	2 years
Capitalized software [Member] \| Maximum [Member]
Land, Property and Equipment [Line Items]
Estimated useful life (in years)	7 years

Nature Of Operations And Summary Of Significant Accounting Policies (COVID-19 Related Asset Impairment Charges) (Details)
$ in Millions

12 Months Ended

Jan. 30, 2021

USD ($)

Land, Property and Equipment [Line Items]

Long-lived asset impairment

$ 96

^[1]

Operating lease ROU asset impairment

^[1]

Total asset impairment

137

Applicable long-lived assets [Member]

Land, Property and Equipment [Line Items]

Carrying value of applicable assets after impairment

Applicable operating lease ROU assets [Member]

Land, Property and Equipment [Line Items]

Carrying value of applicable assets after impairment

$ 3

[1]	As of January 30, 2021, the carrying value of the applicable long-lived and operating lease ROU assets after impairment was $13 and $3.

Nature Of Operations And Summary Of Significant Accounting Policies (Narrative) (Details)	3 Months Ended	11 Months Ended	12 Months Ended
	Nov. 02, 2019 USD ($)	Dec. 31, 2017	Jan. 30, 2021 USD ($) state province store	Feb. 01, 2020 USD ($)	Feb. 02, 2019 USD ($)	Feb. 04, 2018 USD ($)
Nature Of Retail Operations [Line Items]
Number of states in which company operates \| state			40
Number of provinces in which the company operates \| province			3
Contract liabilities			$ 478,000,000	$ 576,000,000		$ 548,000,000
Gift card breakage income			81,000,000	17,000,000	$ 14,000,000
Restructuring costs			88,000,000
Estimated Nordstrom cardmembers to receive a refund	4.00%
Amount of customer refund or credit	$ 100
Advertising expense, net of vendor allowances			283,000,000	299,000,000	246,000,000
Selling, general and administrative expenses			$ 4,162,000,000	$ 4,808,000,000	$ 4,868,000,000
U.S. federal corporate income tax statutory rate		35.00%	21.00%	21.00%	21.00%
Income taxes receivable			$ 560,000,000
Employee retention payroll tax credits			69,000,000
Checks not yet presented for payment drawn in excess of bank deposit balances			106,000,000	$ 110,000,000
Amortization expense of intangible assets				7,000,000	$ 11,000,000
Impairment of intangible assets				11,000,000
No future amortization expense will be recorded				0
Goodwill			249,000,000	249,000,000
Goodwill impairment			0	0	0
Pre-Tax [Member]
Nature Of Retail Operations [Line Items]
Pre-tax dollar impact of Estimated Non-recurring Charge	72,000,000
Post-Tax [Member]
Nature Of Retail Operations [Line Items]
Pre-tax dollar impact of Estimated Non-recurring Charge	$ 49,000,000
Cost of sales and related buying and occupancy costs [Member]
Nature Of Retail Operations [Line Items]
Restructuring costs			25,000,000
SG&A expenses [Member]
Nature Of Retail Operations [Line Items]
Restructuring costs			63,000,000
Shipping and handling [Member]
Nature Of Retail Operations [Line Items]
Selling, general and administrative expenses			828,000,000	627,000,000	$ 589,000,000
Nordstrom Rewards [Member]
Nature Of Retail Operations [Line Items]
Contract liabilities			137,000,000	162,000,000
Gift Cards [Member]
Nature Of Retail Operations [Line Items]
Contract liabilities			$ 341,000,000	414,000,000
Loyalty Program, Nordstrom Notes [Member]
Nature Of Retail Operations [Line Items]
Breakage rate			10.00%
Average period between issuance and redemption			11 months
Loyalty Program, Points [Member]
Nature Of Retail Operations [Line Items]
Breakage rate			8.00%
Gift Cards [Member]
Nature Of Retail Operations [Line Items]
Breakage rate			3.00%
Average period between issuance and redemption			2 years
Accounting Standards Update 2014-09 [Member]
Nature Of Retail Operations [Line Items]
Cumulative effect of adopted accounting standards				$ 55,000,000
Nordstrom - U.S. [Member]
Nature Of Retail Operations [Line Items]
Number of retail channels \| store			94
Nordstrom - U.S. [Member] \| Facility Closing
Nature Of Retail Operations [Line Items]
Number of retail channels \| store			16
Nordstrom Canada [Member]
Nature Of Retail Operations [Line Items]
Number of retail channels \| store			6
Canadian Nordstrom Rack [Member]
Nature Of Retail Operations [Line Items]
Number of retail channels \| store			7
Nordstrom Local [Member]
Nature Of Retail Operations [Line Items]
Number of retail channels \| store			7
Nordstrom Rack [Member]
Nature Of Retail Operations [Line Items]
Number of retail channels \| store			242
Last Chance [Member]
Nature Of Retail Operations [Line Items]
Number of retail channels \| store			2
Trunk Club [Member] \| Facility Closing
Nature Of Retail Operations [Line Items]
Number of retail channels \| store			6
Jeffrey Boutiques \| Facility Closing
Nature Of Retail Operations [Line Items]
Number of retail channels \| store			3

Revenue (Summary Of Contract Liabilities) (Details) - USD ($) $ in Millions	Jan. 30, 2021	Feb. 01, 2020	Feb. 04, 2018
Revenue from Contract with Customer [Abstract]
Contract liabilities	$ 478	$ 576	$ 548

Revenue (Disaggregated Net Sales) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 30, 2021	Feb. 01, 2020	Feb. 02, 2019
Disaggregation of Revenue [Line Items]
Net sales	$ 10,357	$ 15,132	$ 15,480
% of net sales	100.00%	100.00%	100.00%
Digital Sales [Member]
Disaggregation of Revenue [Line Items]
% of net sales	55.00%	33.00%	30.00%
Nordstrom
Disaggregation of Revenue [Line Items]
Net sales	$ 6,997	$ 9,943	$ 10,299
Nordstrom Rack
Disaggregation of Revenue [Line Items]
Net sales	$ 3,360	$ 5,189	$ 5,181

Revenue (Percent Of Net Sales By Merchandise Category Summary) (Details)	12 Months Ended
	Jan. 30, 2021	Feb. 01, 2020	Feb. 02, 2019
Disaggregation of Revenue [Line Items]
% of net sales	100.00%	100.00%	100.00%
Women's Apparel [Member]
Disaggregation of Revenue [Line Items]
% of net sales	29.00%	31.00%	32.00%
Shoes [Member]
Disaggregation of Revenue [Line Items]
% of net sales	26.00%	24.00%	24.00%
Women's Accessories [Member]
Disaggregation of Revenue [Line Items]
% of net sales	14.00%	11.00%	11.00%
Men's Apparel [Member]
Disaggregation of Revenue [Line Items]
% of net sales	12.00%	16.00%	16.00%
Beauty [Member]
Disaggregation of Revenue [Line Items]
% of net sales	12.00%	11.00%	11.00%
Kids' Apparel [Member]
Disaggregation of Revenue [Line Items]
% of net sales	4.00%	4.00%	4.00%
Other [Member]
Disaggregation of Revenue [Line Items]
% of net sales	3.00%	3.00%	2.00%

Revenue (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
Revenue (Narrative) (Details) - USD ($) $ in Millions	Jan. 30, 2021	Feb. 01, 2020
Revenue from Contract with Customer [Abstract]
Revenue recognized from beginning contract liability balance	$ 261	$ 313

Leases (Components Of Lease Cost) (Details) - USD ($)
$ in Millions

12 Months Ended

Jan. 30, 2021

Feb. 01, 2020

Leases [Abstract]

Operating Lease Cost

$ 263

$ 278

Variable lease cost

^[1]

100

105

Sublease income

(19)

(9)

Total lease cost, net

$ 344

$ 374

[1]	Variable lease cost includes short-term lease cost, which was immaterial in 2020 and 2019.

Leases (Future Lease Payments) (Details)
$ in Millions

Jan. 30, 2021

USD ($)

Leases [Abstract]

$ 344

338

312

265

217

985

2,461

Less: amount representing interest

(514)

Present value of net lease payments

1,947

^[1]

Lease payments for operating leases that have not yet commenced

$ 0

[1]	None of our payments for operating leases were signed but not yet commenced as of January 30, 2021.

Leases (Supplemental Lease Information) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 30, 2021	Feb. 01, 2020
Leases [Line Items]
Cash paid related to operating lease liabilities	$ 332	$ 360
Operating lease interest	95	101
Operating lease liabilities arising from the commencement of lease agreements	$ 79	$ 150
Weighted-average remaining lease term	9 years	10 years
Weighted-average discount rate	4.70%	4.70%
Accounting Standards Update 2016-02 [Member] \| Lease liabilities [Member]
Leases [Line Items]
Impact of adopting the Lease Standard	$ 0	$ 2,224

Leases (Schedule Of Rent Expense) (Details) $ in Millions	12 Months Ended
Leases (Schedule Of Rent Expense) (Details) $ in Millions	Feb. 02, 2019 USD ($)
Leases [Abstract]
Minimum rent	$ 321
Percentage rent	9
Property incentives	(79)
Total rent expense	$ 251

- Definition

The increases or decreases in lease payments that result from changes occurring after the inception of the lease in the factors (other than the passage of time) on which lease payments are based, except that any escalation of minimum lease payments relating to increases in construction or acquisition cost of the leased property or for increases in some measure of cost or value during the construction or preconstruction period, are excluded from contingent rentals. Contingent rentals also may include amounts for which the triggering events have not yet occurred or the specified targets for which have not yet been achieved (such as sales based percentage rent), but which events are considered probable of occurring or which specified targets are considered probable of being achieved.

+ References + Details

Leases (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
Leases (Narrative) (Details) - USD ($) $ in Millions	Feb. 01, 2020	Jan. 30, 2021
Leases [Line Items]
Charges not included in rent expense	$ 138
Nordstrom [Member] \| Minimum [Member]
Leases [Line Items]
Lease terms		15 years
Nordstrom [Member] \| Maximum [Member]
Leases [Line Items]
Lease terms		30 years
Nordstrom Rack [Member]
Leases [Line Items]
Lease terms		10 years
Other facilities [Member] \| Minimum [Member]
Leases [Line Items]
Lease terms		5 years
Other facilities [Member] \| Maximum [Member]
Leases [Line Items]
Lease terms		20 years

Land, Property And Equipment (Schedule Of Land, Property And Equipment) (Details) - USD ($) $ in Millions	Jan. 30, 2021	Feb. 01, 2020
Land, Property and Equipment [Line Items]
Land, property and equipment	$ 10,891	$ 11,174
Less: accumulated depreciation and amortization	(7,159)	(6,995)
Land, property and equipment, net	3,732	4,179
Land and land improvements [Member]
Land, Property and Equipment [Line Items]
Land, property and equipment	285	288
Buildings and building improvements [Member]
Land, Property and Equipment [Line Items]
Land, property and equipment	1,446	1,591
Leasehold improvements [Member]
Land, Property and Equipment [Line Items]
Land, property and equipment	3,212	3,263
Store fixtures and equipment [Member]
Land, Property and Equipment [Line Items]
Land, property and equipment	3,993	4,015
Capitalized software [Member]
Land, Property and Equipment [Line Items]
Land, property and equipment	1,724	1,547
Construction in progress [Member]
Land, Property and Equipment [Line Items]
Land, property and equipment	$ 231	$ 470

Land, Property And Equipment (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 30, 2021	Feb. 01, 2020	Feb. 02, 2019
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 671	$ 654	$ 661
Non-cash investing activities for accruals for capital expenditures	$ (48)	$ 60

Self-Insurance (Summary Of Self-Insurance Reserves) (Details) - USD ($) $ in Millions	Jan. 30, 2021	Feb. 01, 2020
Self-insurance reserve [Line Items]
Total self-insurance reserve	$ 114	$ 118
Workers' compensation [Member]
Self-insurance reserve [Line Items]
Total self-insurance reserve	74	79
Employee health and welfare [Member]
Self-insurance reserve [Line Items]
Total self-insurance reserve	25	25
Other liability [Member]
Self-insurance reserve [Line Items]
Total self-insurance reserve	$ 15	$ 14

Self-Insurance (Narrative) (Details) $ in Millions	12 Months Ended
Self-Insurance (Narrative) (Details) $ in Millions	Jan. 30, 2021 USD ($)
Workers' compensation [Member]
Self-insurance reserve [Line Items]
Self-insurance policy retention per claim	$ 1
Workers' compensation policy limit	0
Employment practices liability [Member]
Self-insurance reserve [Line Items]
Self-insurance policy limit	30
Commercial general liability [Member]
Self-insurance reserve [Line Items]
Self-insurance policy limit	101
Other liability [Member]
Self-insurance reserve [Line Items]
Self-insurance policy retention per claim	$ 3

401(k) Plan (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
401(k) Plan (Narrative) (Details) - USD ($) $ in Millions	Jan. 30, 2021	Feb. 01, 2020	Feb. 02, 2019
Four Zero One K Plan [Abstract]
Expense related to Company 401(k) plan contributions	$ 0	$ 85	$ 102

Postretirement Benefits (Benefit Obligations And Funded Status) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 30, 2021	Feb. 01, 2020
Postretirement Benefits Disclosure [Line Items]
Underfunded status at end of year	$ (229)	$ (224)
Change In Benefit Obligation [Member]
Postretirement Benefits Disclosure [Line Items]
Benefit obligation at beginning of year	224	190
Participant service cost	2	2
Interest cost	6	7
Benefits paid	(10)	(9)
Actuarial loss	7	34
Benefit obligation at end of year	229	224
Change In Plan Assets [Member]
Postretirement Benefits Disclosure [Line Items]
Fair value of plan assets at beginning of year	0	0
Employer contribution	10	9
Benefits paid	(10)	(9)
Fair value of plan assets at end of year	$ 0	$ 0

Postretirement Benefits (Amounts Recognized As Liabilities In The Consolidated Balance Sheets) (Details) - USD ($) $ in Millions	Jan. 30, 2021	Feb. 01, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Accrued salaries, wages and related benefits	$ 11	$ 11
Other liabilities (noncurrent)	218	213
Net amount recognized	$ 229	$ 224

Postretirement Benefits (Components Of SERP Expense Recognized In The Consolidated Statements Of Earnings) (Details) - Components of SERP expense [Member] - USD ($) $ in Millions	12 Months Ended
	Jan. 30, 2021	Feb. 01, 2020	Feb. 02, 2019
Postretirement Benefits Disclosure [Line Items]
Participant service cost	$ 2	$ 2	$ 2
Interest cost	6	7	7
Amortization of net loss and other	9	1	5
Total SERP expense	$ 17	$ 10	$ 14

Postretirement Benefits (Amounts Not Yet Reflected In SERP Expense And Included In Accumulated Other Comprehensive Loss (Pre-tax)) (Details) - USD ($) $ in Millions	Jan. 30, 2021	Feb. 01, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Accumulated loss	$ (61)	$ (62)
Prior service credit	0	0
Total accumulated other comprehensive loss	$ (61)	$ (62)

Postretirement Benefits (Weighted-Average Assumptions Used To Determine Benefit Obligations And SERP Expense) (Details)	12 Months Ended
	Jan. 30, 2021	Feb. 01, 2020	Feb. 02, 2019
Assumptions used to determine benefit obligation:
Discount rate	2.62%	2.97%	4.27%
Rate of compensation increase	2.50%	2.50%	2.50%
Assumptions used to determine SERP expense:
Discount rate	2.97%	4.27%	3.95%
Rate of compensation increase	2.50%	2.50%	3.00%

Postretirement Benefits (Expected Future Benefit Payments Including Benefits Attributable To Estimated Future Employee Service) (Details) $ in Millions	Jan. 30, 2021 USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
2021	$ 11
2022	11
2023	12
2024	12
2025	12
2026 – 2030	$ 62

Postretirement Benefits (Narrative) (Details) $ in Millions	Jan. 30, 2021 USD ($) participant officer retiree beneficiary	Feb. 01, 2020 USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Number of total participants in SERP benefits plan \| participant	57
Number of officers and select employees eligible for SERP benefits \| officer	8
Number of retirees eligible for SERP benefits \| retiree	46
Number of beneficiaries eligible for SERP benefits \| beneficiary	3
Accumulated benefit obligation \| $	$ 227	$ 222

Debt And Credit Facilities (Summary Of Long-Term Debt) (Details) - USD ($) $ in Millions	Jan. 30, 2021	Feb. 01, 2020
Debt Instrument [Line Items]
Long-term debt, net of unamortized discount	$ 3,269	$ 2,676
Deferred bond issuance costs	(27)	(17)
Less: current portion	(500)	0
Total due beyond one year	2,769	2,676
Senior notes, 4.00%, due October 2021, net of unamortized discount [Member]
Debt Instrument [Line Items]
Long-term debt, net of unamortized discount	$ 500	$ 500
Debt instrument interest rate	4.00%	4.00%
Senior notes, 8.75%, due May 2025, net of unamortized discount [Member]
Debt Instrument [Line Items]
Long-term debt, net of unamortized discount	$ 600	$ 0
Debt instrument interest rate	8.75%
Senior notes, 4.00%, due March 2027, net of unamortized discount [Member]
Debt Instrument [Line Items]
Long-term debt, net of unamortized discount	$ 349	$ 349
Debt instrument interest rate	4.00%	4.00%
Senior debentures, 6.95%, due March 2028, net of unamortized discount [Member]
Debt Instrument [Line Items]
Long-term debt, net of unamortized discount	$ 300	$ 300
Debt instrument interest rate	6.95%	6.95%
Senior notes, 4.375%, due April 2030, net of unamortized discount [Member]
Debt Instrument [Line Items]
Long-term debt, net of unamortized discount	$ 500	$ 500
Debt instrument interest rate	4.375%	4.375%
Senior notes, 7.00%, due January 2038, net of unamortized discount [Member]
Debt Instrument [Line Items]
Long-term debt, net of unamortized discount	$ 147	$ 147
Debt instrument interest rate	7.00%	7.00%
Senior notes, 5.00%, due January 2044, net of unamortized discount [Member]
Debt Instrument [Line Items]
Long-term debt, net of unamortized discount	$ 900	$ 897
Debt instrument interest rate	5.00%	5.00%

Debt And Credit Facilities (Schedule Of Required Principal Payments On Long-Term Debt) (Details) $ in Millions	Jan. 30, 2021 USD ($)
Debt Disclosure [Abstract]
2021	$ 500
2022	0
2023	0
2024	0
2025	600
Thereafter	$ 2,264

Debt And Credit Facilities (Components Of Interest Expense, Net) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 30, 2021	Feb. 01, 2020	Feb. 02, 2019
Debt Disclosure [Abstract]
Interest on long-term debt and short-term borrowings	$ 199	$ 151	$ 146
Less:
Interest income	(3)	(10)	(15)
Capitalized interest	(15)	(39)	(27)
Interest expense, net	$ 181	$ 102	$ 104

Debt And Credit Facilities (Narrative) (Details)	3 Months Ended	12 Months Ended
Debt And Credit Facilities (Narrative) (Details)	May 02, 2020 USD ($)	Jan. 30, 2021 USD ($)	Feb. 01, 2020 USD ($)	Feb. 02, 2019 USD ($)
Debt Instrument [Line Items]
Proceeds from long-term borrowings		$ 600,000,000	$ 499,000,000	$ 0
Proceeds from revolving line of credit		800,000,000	0	$ 0
Commercial Paper [Member]
Debt Instrument [Line Items]
Borrowing capacity of current facility		800,000,000
Outstanding borrowings or issuances		$ 0	0
Senior notes, 8.75%, due May 2025, net of unamortized discount [Member]
Debt Instrument [Line Items]
Proceeds from long-term borrowings	$ 600,000,000
Debt instrument interest rate		8.75%
Maturity date		May 2025
Unsecured revolving credit facility [Member]
Debt Instrument [Line Items]
Proceeds from revolving line of credit		$ 800
Debt covenant leverage ratio		4
Option to increase the maximum capacity of revolving credit facility		$ 200,000,000
Maximum borrowing capacity		$ 1,000,000,000
Number of options to extend revolver		2
Outstanding borrowings or issuances		$ 0	$ 0
Puerto Rico unsecured borrowing facility [Member]
Debt Instrument [Line Items]
Full repayment of outstanding Puerto Rico unsecured borrowing facility		$ 47,000,000

Fair Value Measurements (Summary Of Carrying Value And Fair Value Estimate Of Long-Term Debt, Including Current Maturities) (Details) - USD ($) $ in Millions	Jan. 30, 2021	Feb. 01, 2020
Fair Value Measurements, Long-term Debt [Line Items]
Carrying value of long-term debt	$ 3,269	$ 2,676
Level 2 [Member]
Fair Value Measurements, Long-term Debt [Line Items]
Fair value of long-term debt	$ 3,430	$ 2,905

Commitments And Contingencies (Narrative) (Details) $ in Millions	Jan. 30, 2021 USD ($)
Long-term purchase commitment [Line Items]
Purchase obligations, capital expenditure contractual commitments and inventory purchase orders	$ 2,035
Installment Payments Remaining	1
Outstanding trade letters of credit [Member]
Long-term purchase commitment [Line Items]
Outstanding trade letters of credit amount	$ 0

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Shareholders' Equity (Summary Of Share Repurchase Program Activity) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Jan. 30, 2021	Feb. 01, 2020	Feb. 02, 2019
Share Repurchase Program [Line Items]
Capacity beginning balance	$ 707	$ 893	$ 414
Shares repurchased (in shares)	0.0	4.1	14.3
Shares repurchased, average price per share (in dollars per share)	$ 0	$ 45	$ 49
Capacity ending balance	$ 707	$ 707	$ 893
2018 Program [Member]
Share Repurchase Program [Line Items]
Share repurchase authorization			1,500
2017 Program [Member]
Share Repurchase Program [Line Items]
Expiration of unused capacity			(319)
Accumulated deficit [Member]
Share Repurchase Program [Line Items]
Shares repurchased (amount)	$ 0	$ (186)	$ (702)

Shareholders' Equity (Narrative) (Details)	12 Months Ended
Shareholders' Equity (Narrative) (Details)	Jan. 30, 2021 $ / shares	Feb. 01, 2020 $ / shares	Feb. 02, 2019 $ / shares
Retained Earnings Adjustments [Line Items]
Dividends (in dollars per share)	$ 0.37	$ 1.48	$ 1.48
Unsecured revolving credit facility [Member]
Retained Earnings Adjustments [Line Items]
Debt covenant leverage ratio	4

Stock-Based Compensation (Summary Of Stock-Based Compensation Expense) (Details) - USD ($)
$ in Millions

12 Months Ended

Jan. 30, 2021

Feb. 01, 2020

Feb. 02, 2019

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Total stock-based compensation expense, before income tax benefit

$ 67

$ 69

$ 90

Income tax benefit

(26)

(18)

(23)

Total stock-based compensation expense, net of income tax benefit

Restricted stock units [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Total stock-based compensation expense, before income tax benefit

Stock options [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Total stock-based compensation expense, before income tax benefit

Other [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Total stock-based compensation expense, before income tax benefit

^[1]

$ 2

$ 9

$ 7

[1]	Other stock-based compensation expense includes PSUs, ESPP and nonemployee director stock awards.

Stock-Based Compensation (Stock-Based Compensation Expense Before Income Tax Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 30, 2021	Feb. 01, 2020	Feb. 02, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense, before income tax benefit	$ 67	$ 69	$ 90
Cost of sales and related buying and occupancy costs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense, before income tax benefit	16	20	28
SG&A expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense, before income tax benefit	$ 51	$ 49	$ 62

Stock-Based Compensation (Summary Of Restricted Stock Unit Activity) (Details) - Restricted stock units [Member] shares in Millions	12 Months Ended
	Jan. 30, 2021 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, beginning of year (in shares or units) \| shares	3.2
Outstanding, beginning of year (in dollars per share) \| $ / shares	$ 44
Granted (in shares or units) \| shares	3.6
Granted (in dollars per share) \| $ / shares	$ 21
Vested (in shares or units) \| shares	(1.2)
Vested (in dollars per share) \| $ / shares	$ 51
Forfeited or cancelled (in shares or units) \| shares	(0.8)
Forfeited or cancelled (in dollars per share) \| $ / shares	$ 31
Outstanding, end of year (in shares or units) \| shares	4.8
Outstanding, end of year (in dollars per share) \| $ / shares	$ 37

Stock-Based Compensation (Assumptions To Estimate The Fair Value For Stock Options At Grant Date) (Details) - $ / shares
shares in Millions

12 Months Ended

Jan. 30, 2021

Feb. 01, 2020

Feb. 02, 2019

Assumptions

Weighted-average volatility

60.10%

34.60%

Weighted-average expected dividend yield

3.40%

1.90%

Expected life in years

7 years 8 months 12 days

6 years 9 months 18 days

Grant Date Information

Weighted-average fair value per option

^[1]

$ 7

$ 15

Exercise price per option

^[1]

$ 17

$ 45

Stock options granted (in shares)

0.0

Minimum [Member]

Assumptions

Risk-free interest rate

0.20%

2.50%

Maximum [Member]

Assumptions

Risk-free interest rate

0.60%

2.70%

[1]	There were no stock options granted in 2018.

Stock-Based Compensation (Summary Of Stock Option Activity) (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions

12 Months Ended

Jan. 30, 2021

Feb. 01, 2020

Feb. 02, 2019

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Granted (in shares)

0.0

Exercise price at time of grant (in dollars per share)

^[1]

$ 17

$ 45

Stock options [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Outstanding, beginning of year (in shares)

8.3

Outstanding, beginning of year (in dollars per share)

$ 53

Granted (in shares)

3.9

Exercise price at time of grant (in dollars per share)

$ 16

Exercised (in shares)

(0.2)

Exercised (in dollars per share)

$ 34

Forfeited or cancelled (in shares)

(1.0)

Forfeited or cancelled (in dollars per share)

$ 53

Outstanding, end of year (in shares)

11.0

8.3

Outstanding, end of year (in dollars per share)

$ 40

$ 53

Outstanding, end of year, weighted-average remaining contractual life (years)

6 years

Outstanding, end of year, aggregate intrinsic value

$ 52

Vested, end of year (in shares)

6.3

Vested, end of year (in dollars per share)

$ 54

Vested, end of year, weighted-average remaining contractual life (years)

3 years

Vested, end of year, aggregate intrinsic value

$ 117

Vested or expected to vest, end of year (in shares)

10.9

Vested or expected to vest, end of year (in dollars per share)

$ 40

Vested or expected to vest, end of year, weighted-average remaining contractual life (years)

6 years

Vested or expected to vest, end of year, aggregate intrinsic value

$ 51

Aggregate intrinsic value of options exercised

$ 5

$ 67

Fair value of stock options vested

$ 8

$ 17

$ 22

[1]	There were no stock options granted in 2018.

Stock-Based Compensation (Narrative) (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions

12 Months Ended

Jan. 30, 2021

Feb. 01, 2020

Feb. 02, 2019

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Shares of common stock issued under deferred and stock-based compensation plan arrangement

2.2

2.1

4.9

Aggregate number of additional shares authorized to be issued under equity incentive plan

1,000.0

Common stock, shares outstanding

157.8

155.6

ESPP offering period

6 months

Other current liabilities

$ 1,048

$ 1,190

Exercise price at time of grant (in dollars per share)

^[1]

$ 17

$ 45

2019 Equity Incentive Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Shares or units authorized under equity incentive plan

9.5

Aggregate number of additional shares authorized to be issued under equity incentive plan

24.5

Common stock, shares outstanding

16.2

Shares available for grant under equity incentive plan

18.3

Additional Option Grant

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Exercise price at time of grant (in dollars per share)

$ 15

Employee stock purchase plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Maximum percentage of employee payroll deductions under ESPP

10.00%

Percentage of fair market value for purchase of shares of common stock in ESPP

90.00%

Shares authorized under Employee Stock Purchase Plan

12.6

Shares available for issuance under Employee Stock Purchase Plan

3.8

Shares issued under Employee Stock Purchase Plan

1.0

0.5

Other current liabilities

$ 5

Restricted stock units [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting period, in years

4 years

Total fair value of units vested

$ 44

$ 65

$ 54

Total unrecognized stock-based compensation expense related to nonvested share-based awards

$ 74

Weighted-average period that unrecognized stock-based compensation expense is expected to be recognized

25 months

Stock options [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Total unrecognized stock-based compensation expense related to nonvested share-based awards

$ 24

Weighted-average period that unrecognized stock-based compensation expense is expected to be recognized

20 months

Exercise price at time of grant (in dollars per share)

$ 16

Option expiration period, in years

10 years

Stock options [Member] | Maximum [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting period, in years

4 years

Stock options [Member] | Minimum [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting period, in years

2 years

[1]	There were no stock options granted in 2018.

Income Taxes (U.S. And Foreign Components Of Earnings Before Income Taxes) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 30, 2021	Feb. 01, 2020	Feb. 02, 2019
Income Tax Disclosure [Abstract]
U.S.	$ (1,210)	$ 654	$ 792
Foreign	(18)	28	(59)
(Loss) earnings before income taxes	$ (1,228)	$ 682	$ 733

Income Taxes (Components Of Income Tax Expense) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 30, 2021	Feb. 01, 2020	Feb. 02, 2019
Current income taxes:
Federal	$ (501)	$ 90	$ 147
State and local	(34)	44	56
Foreign	4	0	0
Total current income tax (benefit) expense	(531)	134	203
Deferred income taxes:
Federal	47	43	(5)
State and local	(57)	3	(3)
Foreign	3	6	(26)
Total deferred income tax (benefit) expense	(7)	52	(34)
Total income tax (benefit) expense	$ (538)	$ 186	$ 169

Income Taxes (Reconciliation Of Statutory To Effective Tax Rate) (Details)	11 Months Ended	12 Months Ended
	Dec. 31, 2017	Jan. 30, 2021	Feb. 01, 2020	Feb. 02, 2019
Tax Credit Carryforward [Line Items]
Statutory rate	35.00%	21.00%	21.00%	21.00%
State and local income taxes, net of federal income taxes		6.10%	5.40%	5.80%
Federal credits		0.50%	(0.90%)	(1.50%)
Valuation allowance release		0.00%	0.00%	(1.20%)
Other, net		(1.40%)	1.80%	(0.90%)
Effective tax rate		43.80%	27.30%	23.10%
Tax Cuts and Jobs Act
Tax Credit Carryforward [Line Items]
Act Impact		0.00%	0.00%	(0.10%)
CARES Act
Tax Credit Carryforward [Line Items]
Act Impact		17.60%	0.00%	0.00%

Income Taxes (Components Of Deferred Tax Assets And Liabilities) (Details) - USD ($) $ in Millions	Jan. 30, 2021	Feb. 01, 2020
Deferred tax assets:
Lease liabilities	$ 505	$ 555
Compensation and benefits accruals	139	145
Allowance for sales returns	43	47
Accrued expenses	28	29
Merchandise inventories	22	20
Gift cards	10	39
The Nordy Club loyalty program	19	10
Net operating losses	72	33
Other	23	5
Total deferred tax assets	861	883
Valuation allowance	(24)	(41)
Total net deferred tax assets	837	842
Deferred tax liabilities:
ROU assets	(337)	(377)
Land, property and equipment	(341)	(312)
Debt exchange premium	(12)	(13)
Total deferred tax liabilities	(690)	(702)
Net deferred tax assets	$ 147	$ 140

Income Taxes (Reconciliation Of Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 30, 2021	Feb. 01, 2020	Feb. 02, 2019
Income Tax Disclosure [Abstract]
Unrecognized tax benefit at beginning of year	$ 22	$ 30	$ 31
Gross increase to tax positions in prior periods	4	0	9
Gross decrease to tax positions in prior periods	0	0	(14)
Gross increase to tax positions in current period	6	3	6
Lapses in statute	0	(1)	(2)
Settlements	0	(10)	0
Unrecognized tax benefit at end of year	$ 32	$ 22	$ 30

Income Taxes (Information On Approximate Net Operating Loss Carryforwards) (Details) - USD ($) $ in Millions	Jan. 30, 2021	Feb. 01, 2020
State [Member]
Income Tax Examination [Line Items]
Approximate net operating loss carryforwards for income tax	$ 1,036	$ 25
Foreign [Member]
Income Tax Examination [Line Items]
Approximate net operating loss carryforwards for income tax	$ 54	$ 102

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Millions	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020	Feb. 02, 2019
Tax Credit Carryforward [Line Items]
Valuation allowance		$ 24	$ 41
Valuation allowance release		17	2
Unrecognized tax benefits that would affect the effective tax rate		30	22
Income Tax Examination, Penalties and Interest Expense		0	0	$ 0
Liability for interest and penalties		4	3
Unrecognized tax benefits related to federal, state and local tax positions		$ 0	$ 1	$ 2
Forecast
Tax Credit Carryforward [Line Items]
Unrecognized tax benefits related to federal, state and local tax positions	$ 18

Earnings Per Share (Computation Of Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Jan. 30, 2021	Feb. 01, 2020	Feb. 02, 2019
Earnings Per Share [Abstract]
Net (loss) earnings	$ (690)	$ 496	$ 564
Basic shares (in shares)	157.2	155.2	167.3
Dilutive effect of common stock equivalents (in shares)	0.0	0.9	2.7
Diluted shares (in shares)	157.2	156.1	170.0
(Loss) earnings per basic share (in dollars per share)	$ (4.39)	$ 3.20	$ 3.37
(Loss) earnings per diluted share (in dollars per share)	$ (4.39)	$ 3.18	$ 3.32
Anti-dilutive common stock equivalents	13.5	10.0	5.2

- Definition

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

- Definition

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.

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Segment Reporting (Information By Reportable Segment) (Details) - USD ($)
$ in Millions

12 Months Ended

Jan. 30, 2021

Feb. 01, 2020

Feb. 02, 2019

Segment Reporting Information [Line Items]

Net sales

$ 10,357

$ 15,132

$ 15,480

Credit card revenues, net

358

392

380

(Loss) earnings before interest and income taxes

(1,047)

784

837

Interest expense, net

(181)

(102)

(104)

(Loss) earnings before income taxes

(1,228)

682

733

Capital expenditures

(385)

(935)

(654)

Depreciation and amortization

(671)

(661)

(669)

Assets

9,538

9,737

7,886

Retail [Member]

Segment Reporting Information [Line Items]

Net sales

10,357

15,132

15,480

Credit card revenues, net

(Loss) earnings before interest and income taxes

(924)

1,028

1,059

Interest expense, net

(Loss) earnings before income taxes

(924)

1,028

1,059

Capital expenditures

(175)

(726)

(415)

Depreciation and amortization

(404)

(428)

(436)

Assets

6,100

6,831

^[1]

5,300

Corporate/Other

Segment Reporting Information [Line Items]

Net sales

Credit card revenues, net

358

392

380

(Loss) earnings before interest and income taxes

(123)

(244)

(222)

Interest expense, net

(181)

(102)

(104)

(Loss) earnings before income taxes

(304)

(346)

(326)

Capital expenditures

(210)

(209)

(239)

Depreciation and amortization

(267)

(233)

Assets

$ 3,438

$ 2,906

^[1]

$ 2,586

[1]	In 2019, we adopted the Lease Standard using the transition method provided in ASU 2018-11. See Note 3: Leases for further information.

Segment Reporting (Narrative) (Details)	12 Months Ended
Segment Reporting (Narrative) (Details)	Jan. 30, 2021 segment
Segment Reporting [Abstract]
Number of reportable segments	1
Number of operating segments	2