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Derivative Financial Instruments
 9 Months Ended
Nov. 02, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments
Derivative Financial Instruments
 
We use interest rate swaps to mitigate interest-rate risk. As a result of our use of derivative instruments, we have counterparty credit risk with large global financial institutions. We monitor this concentration of counterparty credit risk on an ongoing basis. See Note 3 for a description of the fair value measurement of our derivative instruments and their classification on the Consolidated Statements of Financial Position.
 
As of November 2, 2013 and October 27, 2012, one swap was designated as a fair value hedge for accounting purposes, and no ineffectiveness was recognized during the three and nine months ended November 2, 2013 or October 27, 2012.
 
Periodic payments, valuation adjustments and amortization of gains or losses on our derivative contracts had the following effect on our Consolidated Statements of Operations:
 
Derivative Contracts - Effect on Results of Operations
(millions)
Three Months Ended
 
Nine Months Ended
Type of Contract
 
Classification of Income/(Expense)
November 2,
2013

 
October 27,
2012

 
November 2,
2013

 
October 27,
2012

Interest rate swaps
 
Net interest expense
$
6

 
$
12

 
$
21

 
$
32


 
The amount remaining on unamortized hedged debt valuation gains from terminated or de-designated interest rate swaps that will be amortized into earnings over the remaining lives of the underlying debt totaled $59 million, $75 million and $84 million, at November 2, 2013, February 2, 2013 and October 27, 2012, respectively.