Annual report pursuant to Section 13 and 15(d)

Accounts Payable and Accrued Liabilities

v3.21.1
Accounts Payable and Accrued Liabilities
12 Months Ended
Jan. 30, 2021
Accounts Payable And Accrued Liabilities Current [Abstract]  
Accounts Payable and Accrued Liabilities

 

8.

Accounts Payable and Accrued Liabilities

 

 

 

January 30,

 

 

February 1,

 

 

 

2021

 

 

2020

 

 

 

(millions)

 

Accounts payable

 

$

878

 

 

$

977

 

Gift cards and customer rewards

 

 

616

 

 

 

839

 

Lease related liabilities

 

 

285

 

 

 

399

 

Taxes other than income taxes

 

 

265

 

 

 

145

 

Accrued wages and vacation

 

 

201

 

 

 

194

 

Allowance for future sales returns

 

 

159

 

 

 

213

 

Current portion of post employment and postretirement benefits

 

 

142

 

 

 

180

 

Current portion of workers’ compensation and general liability reserves

 

 

97

 

 

 

105

 

Accrued interest

 

 

54

 

 

 

41

 

Restructuring accruals, including severance

 

 

27

 

 

 

113

 

Other

 

 

203

 

 

 

242

 

 

 

$

2,927

 

 

$

3,448

 

Changes in workers’ compensation and general liability reserves, including the current portion, are as follows:

 

 

 

2020

 

 

2019

 

 

2018

 

 

 

(millions)

 

Balance, beginning of year

 

$

462

 

 

$

487

 

 

$

497

 

Charged to costs and expenses

 

 

88

 

 

 

120

 

 

 

130

 

Payments, net of recoveries

 

 

(134

)

 

 

(145

)

 

 

(140

)

Balance, end of year

 

$

416

 

 

$

462

 

 

$

487

 

 

The non-current portion of workers’ compensation and general liability reserves is included in other liabilities on the Consolidated Balance Sheets. At January 30, 2021 and February 1, 2020, workers’ compensation and general liability reserves included $106 million and $110 million, respectively, which are covered by deposits and receivables included in current assets on the Consolidated Balance Sheets.