XML 24 R26.htm IDEA: XBRL DOCUMENT v2.4.0.8
Segment Reporting (Tables)
 9 Months Ended
Nov. 02, 2013
Segment Reporting [Abstract]  
Business Segment Results and Total Assets by Segment
Business Segment Results
Three Months Ended November 2, 2013
 
Three Months Ended October 27, 2012
(millions)
U.S.

 
Canadian

 
Total

 
U.S.

 
Canadian

 
Total

Sales
$
16,925

 
$
333

 
$
17,258

 
$
16,601

 
$
—

 
$
16,601

Cost of sales
11,849

 
284

 
12,133

 
11,569

 
—

 
11,569

Selling, general and administrative expenses(a)
3,595

 
221

 
3,817

 
3,409

 
72

 
3,482

Depreciation and amortization
504

 
66

 
569

 
519

 
24

 
542

Segment profit
$
977

 
$
(238
)
 
$
739

 
$
1,104

 
$
(96
)
 
$
1,008

Gain on receivables transaction(b)
 

 
 

 
—

 
 

 
 

 
156

Reduction of beneficial interest asset(a)
 

 
 

 
(36
)
 
 

 
 

 
—

Earnings before interest expense and income taxes
 

 
 

 
703

 
 

 
 

 
1,164

Net interest expense
 

 
 

 
165

 
 

 
 

 
192

Earnings before income taxes
 

 
 

 
$
538

 
 

 
 

 
$
972

 
Business Segment Results
Nine Months Ended November 2, 2013
 
Nine Months Ended October 27, 2012
(millions)
U.S.

 
Canadian

 
Total

 
U.S.

 
Canadian

 
Total

Sales
$
50,387

 
$
694

 
$
51,081

 
$
49,589

 
$
—

 
$
49,589

Cost of sales
34,916

 
525

 
35,441

 
34,406

 
—

 
34,406

Selling, general and administrative expenses(a)
10,437

 
621

 
11,058

 
9,879

 
154

 
10,033

Depreciation and amortization
1,488

 
160

 
1,648

 
1,537

 
67

 
1,603

Segment profit
3,546

 
(612
)
 
2,934

 
3,767

 
(221
)
 
3,547

Gain on receivables transaction(b)
 

 
 

 
391

 
 

 
 

 
156

Reduction of beneficial interest asset(a)
 

 
 

 
(82
)
 
 

 
 

 
—

Earnings before interest expense and income taxes
 

 
 

 
3,243

 
 

 
 

 
3,703

Net interest expense
 

 
 

 
965

 
 

 
 

 
558

Earnings before income taxes
 

 
 

 
$
2,278

 
 

 
 

 
$
3,145

Note: The sum of the segment amounts may not equal the total amounts due to rounding.
Note: Through fiscal 2012, we operated as three business segments: U.S. Retail, U.S. Credit Card and Canadian. Following the sale of our credit card receivables portfolio described in Note 2, we operate as two segments: U.S. and Canadian. Prior period segment results have been revised to reflect the combination of our historical U.S. Retail Segment and U.S. Credit Card Segment into one U.S. Segment.
(a) Our U.S. Segment includes all TD profit-sharing amounts in segment EBIT; however, under GAAP, some amounts received from TD reduce the beneficial interest asset and are not recorded in consolidated earnings.  Segment SG&A expenses plus these amounts equal consolidated SG&A expenses.
(b) Refer to Note 2 for more information on our credit card receivables transaction.
Total Assets by Segment
 (millions)
November 2,
2013

 
February 2,
2013

 
October 27,
2012

U.S.
$
39,747

 
$
43,289

 
$
45,453

Canadian
6,483

 
4,722

 
3,970

Total segment assets
46,230

 
48,011

 
49,423

Unallocated assets(a)
143

 
152

 
156

Total assets
$
46,373

 
$
48,163

 
$
49,579

Note: Prior period segment results have been revised to reflect the combination of our historical U.S. Retail Segment and U.S. Credit Card Segment into one U.S. Segment.
(a) Represents the beneficial interest asset for the period ended November 2, 2013. For the periods ended February 2, 2013, and October 27, 2012, represents the net adjustment to eliminate our allowance for doubtful accounts and record our credit card receivables at lower of cost (par) or fair value.