Gap, Inc. (The) (GPS) Financial Statements (2024 and earlier)

Company Profile

Business Address TWO FOLSOM STREET
SAN FRANCISCO, CA 94105
State of Incorp. DE
Fiscal Year End January 31
Industry (SIC) 5651 - Family Clothing Stores (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

10/31/2023
Q3
7/31/2023
Q2
4/30/2023
Q1
1/31/2023
Q4
10/31/2022
Q3
7/31/2022
Q2
4/30/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,3501,1701,215679708845
Cash and cash equivalents1,3501,1701,215679708845
Restricted cash and investments   321  
Receivables   340   
Prepaid expense   256   
Derivative instruments and hedges, assets   11   
Other current assets6638141,0131,3161,106991
Other undisclosed current assets2,2262,2991,7503,0423,1353,169
Total current assets:4,2394,2834,6175,0384,9495,005
Noncurrent Assets
Operating lease, right-of-use asset3,1133,1233,1733,3413,5323,587
Property, plant and equipment2,5952,6462,6882,7882,8092,791
Other noncurrent assets903880908833881874
Total noncurrent assets:6,6116,6496,7696,9627,2227,252
TOTAL ASSETS:10,85010,93211,38612,00012,17112,257
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities2,4132,2502,5892,6902,8972,755
Taxes payable50574129
Accounts payable1,4061,1991,3201,3881,6401,599
Accrued liabilities1,0071,0511,2191,2451,2161,127
Derivative instruments and hedges, liabilities   20   
Disposal group, including discontinued operation   126   
Customer refund liability   84   
Other undisclosed current liabilities594668437691717717
Total current liabilities:3,0072,9183,2563,3813,6143,472
Noncurrent Liabilities
Long-term debt and lease obligation1,4871,4871,4865,1595,3425,406
Long-term debt, excluding current maturities1,4871,4871,4861,4861,4851,485
Liabilities, other than long-term debt, including:3,4333,45360 6060
Deferred rent credit   27   
Asset retirement obligations   38   
Liability for uncertainty in income taxes   327   
Other liabilities   152   
Operating lease, liability3,4333,4533,5173,6733,8573,921
Other undisclosed liabilities, other than long-term debt   (4,001) 6060
Other undisclosed noncurrent liabilities6608894,351(2,784)850865
Total noncurrent liabilities:5,5805,8295,8976,0486,2526,331
Total liabilities:8,5878,7479,1539,4299,8669,803
Equity
Equity, attributable to parent2,2632,1852,2332,5712,3052,454
Common stock181818181819
Additional paid in capital73472716  
Accumulated other comprehensive income445348694646
Retained earnings2,1282,0672,1402,4682,2412,389
Total equity:2,2632,1852,2332,5712,3052,454
TOTAL LIABILITIES AND EQUITY:10,85010,93211,38612,00012,17112,257

Income Statement (P&L) ($ in millions)

10/31/2023
Q3
7/31/2023
Q2
4/30/2023
Q1
1/31/2023
Q4
10/31/2022
Q3
7/31/2022
Q2
4/30/2022
Q1
Revenues3,5483,2764,2434,0393,8573,477
Cost of revenue
(Cost of Goods and Services Sold)
(2,215)(2,062)(2,819)(2,530)(2,527)(2,381)
Gross profit:1,3331,2141,4241,5091,3301,096
Operating expenses(1,227)(1,224)(1,454)(1,323)(1,358)(1,293)
Operating income (loss):106(10)(30)186(28)(197)
Nonoperating income
(Investment Income, Nonoperating)
171312411
Interest and debt expense(15)(23)(25)(22)(21)(20)
Income (loss) from continuing operations before income taxes:108(20)(43)168(48)(216)
Income tax expense (benefit)92(230)114(1)54
Income (loss) from continuing operations:117(18)(273)282(49)(162)
Income (loss) before gain (loss) on sale of properties:282(49)(162)
Net income (loss) available to common stockholders, diluted:117(18)(273)282(49)(162)

Comprehensive Income ($ in millions)

10/31/2023
Q3
7/31/2023
Q2
4/30/2023
Q1
1/31/2023
Q4
10/31/2022
Q3
7/31/2022
Q2
4/30/2022
Q1
Net income (loss):117(18)(273)282(49)(162)
Other comprehensive income (loss)(9)5(21)23 8
Comprehensive income (loss), net of tax, attributable to parent:108(13)(294)305(49)(154)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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