Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income

v3.22.2.2
Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jul. 30, 2022
Jul. 31, 2021
Jul. 30, 2022
Jul. 31, 2021
Income Statement [Abstract]        
Net sales $ 5,600 $ 5,647 $ 10,948 $ 10,353
Credit card revenues, net 204 197 395 356
Cost of sales (3,422) (3,353) (6,652) (6,242)
Selling, general and administrative expenses (1,981) (1,898) (3,861) (3,646)
Gains on sale of real estate 0 6 42 12
Impairment, restructuring and other costs (2) (2) (10) (21)
Operating income 399 597 862 812
Benefit plan income, net 7 17 14 32
Settlement charges 0 (81) 0 (81)
Interest expense (43) (80) (91) (159)
Losses on early retirement of debt 0 (3) (31) (14)
Interest income 1 0 2 0
Income before income taxes 364 450 756 590
Federal, state and local income tax expense (89) (105) (195) (142)
Net income $ 275 $ 345 $ 561 $ 448
Basic earnings per share $ 1.01 $ 1.11 $ 2.02 $ 1.44
Diluted earnings per share $ 0.99 $ 1.08 $ 1.97 $ 1.41