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Fair Value Measurements (Details) (USD $) In Millions, unless otherwise specified | 6 Months Ended | 12 Months Ended
--- | --- | ---
Aug. 02, 2014 | Aug. 03, 2013 | Feb. 01, 2014
Financial assets and liabilities measured at fair value on a recurring basis |  |  |  |  |  |
Other current assets | $ 1,833 |  | $ 1,944 |  | $ 2,112 |
Other noncurrent assets | 1,706 |  | 1,354 |  | 1,602 |
Other noncurrent liabilities | 1,517 |  | 1,540 |  | 1,490 |
Effect of 1% change in forecasted credit EBIT yield on estimated fair value | 14 |  | 0 |  | 0 |
Effect of 1% change in forecasted discount rate on estimated fair value | 3 |  | 0 |  | 0 |
Company-owned life insurance investments | Fair value measured on recurring basis |  |  |  |  |  |
Financial assets and liabilities measured at fair value on a recurring basis |  |  |  |  |  |
Company-owned life insurance investments | 806 |  | 787 |  | 790 |
Level 1 | Fair value measured on recurring basis |  |  |  |  |  |
Financial assets and liabilities measured at fair value on a recurring basis |  |  |  |  |  |
Total | 43 |  | 322 |  | 76 |
Level 1 | Short-term investments | Fair value measured on recurring basis |  |  |  |  |  |
Financial assets and liabilities measured at fair value on a recurring basis |  |  |  |  |  |
Cash and cash equivalents | 3 |  | 249 |  | 3 |
Level 1 | Prepaid forward contracts | Fair value measured on recurring basis |  |  |  |  |  |
Financial assets and liabilities measured at fair value on a recurring basis |  |  |  |  |  |
Other current assets | 40 |  | 73 |  | 73 |
Level 2 | Fair value measured on recurring basis |  |  |  |  |  |
Financial assets and liabilities measured at fair value on a recurring basis |  |  |  |  |  |
Total | 365 |  | 371 |  | 368 |
Total | 31 |  | 45 |  | 39 |
Level 2 | Company-owned life insurance investments | Fair value measured on recurring basis |  |  |  |  |  |
Financial assets and liabilities measured at fair value on a recurring basis |  |  |  |  |  |
Other noncurrent assets | 314 | [1] | 297 | [1] | 305 | [1]
Level 2 | Interest rate swaps | Fair value measured on recurring basis |  |  |  |  |  |
Financial assets and liabilities measured at fair value on a recurring basis |  |  |  |  |  |
Other current assets | 0 | [2] | 0 | [2] | 1 | [2]
Other noncurrent assets | 51 | [2] | 74 | [2] | 62 | [2]
Other noncurrent liabilities | 31 | [2] | 45 | [2] | 39 | [2]
Level 3 | Fair value measured on recurring basis |  |  |  |  |  |
Financial assets and liabilities measured at fair value on a recurring basis |  |  |  |  |  |
Total | 98 |  | 180 |  | 127 |
Level 3 | Beneficial interest asset | Fair value measured on recurring basis |  |  |  |  |  |
Financial assets and liabilities measured at fair value on a recurring basis |  |  |  |  |  |
Other current assets | 56 | [3] | 91 | [3] | 71 | [3]
Other noncurrent assets | $ 41 | [3] | $ 89 | [3] | $ 56 | [3]
[1] | Company-owned life insurance investments consist of equity index funds and fixed income assets. Amounts are presented net of nonrecourse loans that are secured by some of these policies. These loan amounts totaled $806 million at August 2, 2014, $790 million at February 1, 2014 and $787 million at August 3, 2013.
[2] | See Note 7 for additional information on interest rate swaps.
[3] | Note 3 includes a rollforward of the Level 3 beneficial interest asset.

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- Definition Amount before allowance of loans made to policy and contract holders using their life insurance contracts' cash value or separate accounts as collateral. Includes deferred interest and fees, undisbursed portion of loan balance, unamortized costs and premiums over and discounts from face amounts. Excludes loans and leases covered under loss sharing agreements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.7(a)(7)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.1(e)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 1 -Subparagraph e -Article 7 + Details
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