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Pension and Postretirement Health Care Plans (Tables)
 12 Months Ended
Feb. 01, 2014
Compensation and Retirement Disclosure [Abstract]  
Schedule of change in projected benefit obligation
Change in Projected Benefit Obligation
Pension Benefits
 
Postretirement
Health Care Benefits
 
Qualified Plans
 
Nonqualified Plans
 
(millions)
2013

2012

 
2013

2012

 
2013

2012

Benefit obligation at beginning of period
$
3,164

$
3,015

 
$
37

$
38

 
$
121

$
100

Service cost
117

120

 
1

1

 
6

10

Interest cost
136

137

 
1

2

 
2

3

Actuarial (gain)/loss
(125
)
107

 
—

—

 
(3
)
18

Participant contributions
1

1

 
—

—

 
5

5

Benefits paid
(122
)
(126
)
 
(4
)
(3
)
 
(14
)
(12
)
Plan amendments
2

(90
)
 
—

(1
)
 
(44
)
(3
)
Benefit obligation at end of period
$
3,173

$
3,164

 
$
35

$
37

 
$
73

$
121
Schedule of change in plan assets
Change in Plan Assets
Pension Benefits
 
Postretirement
Health Care Benefits
 
Qualified Plans
 
Nonqualified Plans
 
(millions)
2013

2012

 
2013

2012

 
2013

2012

Fair value of plan assets at beginning of period
$
3,223

$
2,921

 
$
—

$
—

 
$
—

$
—

Actual return on plan assets
161

305

 
—

—

 
—

—

Employer contributions
4

122

 
4

3

 
9

7

Participant contributions
1

1

 
—

—

 
5

5

Benefits paid
(122
)
(126
)
 
(4
)
(3
)
 
(14
)
(12
)
Fair value of plan assets at end of period
3,267

3,223

 
—

—

 
—

—

Benefit obligation at end of period
3,173

3,164

 
35

37

 
73

121

Funded/(underfunded) status
$
94

$
59

 
$
(35
)
$
(37
)
 
$
(73
)
$
(121
)
Amounts recognized in Balance Sheet
Recognition of Funded/(Underfunded) Status
Qualified Plans
 
Nonqualified Plans (a)
(millions)
2013

2012

 
2013

2012

Other noncurrent assets
$
112

$
81

 
$
—

$
—

Accrued and other current liabilities
(2
)
(1
)
 
(9
)
(9
)
Other noncurrent liabilities
(16
)
(21
)
 
(99
)
(149
)
Net amounts recognized
$
94

$
59

 
$
(108
)
$
(158
)
(a) 
Includes postretirement health care benefits.
Amounts recorded in accumulated other comprehensive income, not yet recognized as component of net periodic benefit expense
The following table summarizes the amounts recorded in accumulated other comprehensive income, which have not yet been recognized as a component of net periodic benefit expense:

Amounts in Accumulated Other Comprehensive Income
Pension Plans
 
Postretirement
Health Care Plans
 
(millions)
2013

2012

 
2013

2012

Net actuarial loss
$
792

$
947

 
$
49

$
58

Prior service credits
(80
)
(91
)
 
(62
)
(34
)
Amounts in accumulated other comprehensive income
$
712

$
856

 
$
(13
)
$
24
Changes in AOCI, Pension and Other Post Retirement Plans
The following table summarizes the changes in accumulated other comprehensive income for the years ended February 1, 2014 and February 2, 2013, related to our pension and postretirement health care plans:

Change in Accumulated Other Comprehensive Income
Pension Benefits
 
Postretirement
Health Care Benefits
 
(millions)
Pretax

Net of Tax

 
Pretax

Net of Tax

January 28, 2012
$
1,027

$
623

 
$
3

$
2

Net actuarial loss
23

13

 
18

11

Amortization of net actuarial losses
(103
)
(63
)
 
(4
)
(2
)
Amortization of prior service costs and transition
—

—

 
10

6

Plan amendments
(91
)
(56
)
 
(3
)
(2
)
February 2, 2013
856

517

 
24

15

Net actuarial gain
(52
)
(32
)
 
(3
)
(2
)
Amortization of net actuarial losses
(103
)
(62
)
 
(6
)
(4
)
Amortization of prior service costs and transition
11

7

 
16

10

Plan amendment
—

—

 
(44
)
(27
)
February 1, 2014
$
712

$
430

 
$
(13
)
$
(8
)
Amounts in accumulated other comprehensive income expected to be amortized and recognized as a component of net periodic benefit expense in 2013
The following table summarizes the amounts in accumulated other comprehensive income expected to be amortized and recognized as a component of net periodic benefit expense in 2014:

Expected Amortization of Amounts in Accumulated Other Comprehensive Income
(millions)
Pretax

Net of Tax

Net actuarial loss
$
70

$
43

Prior service credits
(27
)
(16
)
Total amortization expense
$
43

$
27
Net Pension and Postretirement Health Care Benefits Expense
The following table summarizes our net pension and postretirement health care benefits expense for the years 2013, 2012 and 2011:

Net Pension and Postretirement Health Care 
Benefits Expense
Pension Benefits
 
Postretirement
Health Care Benefits
 
(millions)
2013

2012

2011

 
2013

2012

2011

Service cost benefits earned during the period
$
118

$
121

$
117

 
$
6

$
10

$
10

Interest cost on projected benefit obligation
137

139

137

 
2

3

4

Expected return on assets
(235
)
(220
)
(206
)
 
—

—

—

Amortization of losses
103

103

67

 
6

3

4

Amortization of prior service cost
(11
)
—

(2
)
 
(16
)
(10
)
(10
)
Settlement and Special Termination Charges
3

—

—

 
—

—

—

Total
$
115

$
143

$
113

 
$
(2
)
$
6

$
8
Defined Benefit Pension Plan Information
Defined Benefit Pension Plan Information
(millions)
2013

 
2012

Accumulated benefit obligation (ABO) for all plans (a)
$
3,149

 
$
3,140

Projected benefit obligation for pension plans with an ABO in excess of plan assets (b)
54

 
59

Total ABO for pension plans with an ABO in excess of plan assets
48

 
53

(a) 
The present value of benefits earned to date assuming no future salary growth.
(b) 
The present value of benefits earned to date by plan participants, including the effect of assumed future salary increases.
Benefit Obligation Weighted Average Assumptions
Benefit Obligation Weighted Average Assumptions
Pension Benefits
 
Postretirement
Health Care Benefits
 
2013

2012

 
2013

2012

Discount rate
4.77
%
4.40
%
 
3.30
%
2.75
%
Average assumed rate of compensation increase
3.00

3.00

 
n/a

n/a
Net Periodic Benefit Expense Weighted Average Assumptions
Net Periodic Benefit Expense Weighted Average Assumptions
 Pension Benefits
 
Postretirement
Health Care Benefits
 
 
2013

2012

2011

 
2013

2012

2011

Discount rate
4.40
%
4.65
%
5.50
%
 
2.75
%
3.60
%
4.35
%
Expected long-term rate of return on plan assets
8.00

8.00

8.00

 
n/a

n/a

n/a

Average assumed rate of compensation increase
3.00

3.50

4.00

 
n/a

n/a

n/a
Effect of a one percent change in assumed health care cost trend rates
Health Care Cost Trend Rates – 1% Change
(millions)
1% Increase

1% Decrease

Effect on total of service and interest cost components of net periodic postretirement health care benefit expense
$
1

$
(1
)
Effect on the health care component of the accumulated postretirement benefit obligation
5

(5
)
Target and actual allocation of defined benefit Plan Assets
Asset Category
Current Targeted

Actual Allocation
 
Allocation

2013

2012

Domestic equity securities (a)
19
%
21
%
20
%
International equity securities
12

12

11

Debt securities
25

26

27

Balanced funds
30

28

29

Other (b)
14

13

13

Total
100
%
100
%
100
%
(a) 
Equity securities include our common stock in amounts substantially less than 1 percent of total plan assets as of February 1, 2014 and February 2, 2013.
(b) 
Other assets include private equity, mezzanine and high-yield debt, natural resources and timberland funds, multi-strategy hedge funds, derivative instruments and a 5 percent allocation to real estate.
Fair value of pension plan assets, by asset category
Fair Value Measurements
 
Fair Value at February 1, 2014
 
Fair Value at February 2, 2013
(millions)
Total

Level 1

Level 2

Level 3

Total

Level 1

Level 2

Level 3

Cash and cash equivalents
$
150

$
6

$
144

$
—

$
174

$
5

$
169

$
—

Common collective trusts (a)
1,000

—

1,000

—

878

—

878

—

Government securities (b)
282

—

282

—

296

—

296

—

Fixed income (c)
541

—

541

—

560

—

560

—

Balanced funds (d)
903

—

903

—

925

—

925

—

Private equity funds (e)
221

—

—

221

236

—

—

236

Other (f)
170

—

43

127

154

—

32

122

Total plan assets
$
3,267

$
6

$
2,913

$
348

$
3,223

$
5

$
2,860

$
358

(a) 
Passively managed index funds with holdings in domestic and international equities.
(b) 
Investments in government securities and passively managed index funds with holdings in long-term government bonds.
(c) 
Investments in corporate bonds, mortgage-backed securities and passively managed index funds with holdings in long-term corporate bonds.
(d) 
Investments in equities, nominal and inflation-linked fixed income securities, commodities and public real estate.
(e) 
Includes investments in venture capital, mezzanine and high-yield debt, natural resources and timberland funds.
(f) 
Investments in multi-strategy hedge funds (including domestic and international equity securities, convertible bonds and other alternative investments), real estate and derivative investments.
Reconciliation of assets' fair value using significant unobservable inputs (Level 3)
Level 3 Reconciliation
Actual Return on Plan Assets (a)
 
 
 
(millions)
Balance at
Beginning of
Period

Relating to
Assets Still Held
at the Reporting
Date

Relating to
Assets Sold
During the
Period

Purchases,
Sales and
Settlements

Transfer in
and/or out 
of Level 3

Balance at
End of 
Period

2012
 
 
 
 
 
 
Private equity funds
$
283

$
17

$
25

$
(89
)
$
—

$
236

Other
115

4

—

3

—

122

2013
 
 
 
 
 
 
Private equity funds
$
236

$
7

$
26

$
(48
)
$
—

$
221

Other
122

14

1

(10
)
—

127

(a) 
Represents realized and unrealized gains (losses) from changes in values of those financial instruments only for the period in which the instruments were classified as Level 3.
Estimated Future Benefit Payments
Estimated Future Benefit Payments

Benefit payments by the plans, which reflect expected future service as appropriate, are expected to be paid as follows:

Estimated Future Benefit Payments
(millions)
Pension
Benefits

Postretirement
Health Care Benefits

2014
$
152

$
6

2015
159

6

2016
169

7

2017
178

8

2018
188

8

2019-2023
1,058

45