Derivative Financial Instruments (Tables)

9 Months Ended

Oct. 31, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]

Gains and losses on foreign exchange forward contracts not designated as hedging instruments recorded in the Condensed Consolidated Statements of Income, on a pre-tax basis, are as follows:



	13 Weeks Ended				39 Weeks Ended
($ in millions)	October 31, 2015		November 1, 2014		October 31, 2015		November 1, 2014
Gain (loss) recognized in operating expenses	$	—	$	8	$	—	$	6

Foreign Exchange Forward Contracts Outstanding

We had foreign exchange forward contracts outstanding in the following notional amounts:



(notional amounts in millions)	October 31, 2015		January 31, 2015		November 1, 2014
U.S. dollars (1)	$	1,731	$	1,395	$	1,615
Canadian dollars	C$	45	C$	14	C$	14
Euro	€	2	€	1	€	1
Japanese Yen	¥	850	¥	—	¥	—

__________


(1)	The principal currencies hedged against changes in the U.S. dollar were British pounds, Canadian dollars, Euro, and Japanese yen.

Fair Values of Asset and Liability Derivative Financial Instruments

The fair values of foreign exchange forward contracts are as follows:



($ in millions)	October 31, 2015		January 31, 2015		November 1, 2014
Derivatives designated as cash flow hedges:
Other current assets	$	56	$	115	$	59
Other long-term assets	$	12	$	23	$	23
Accrued expenses and other current liabilities	$	3	$	—	$	1
Lease incentives and other long-term liabilities	$	3	$	—	$	—

Derivatives designated as net investment hedges:
Other current assets	$	—	$	1	$	—
Other long-term assets	$	—	$	—	$	—
Accrued expenses and other current liabilities	$	—	$	—	$	—
Lease incentives and other long-term liabilities	$	—	$	—	$	—

Derivatives not designated as hedging instruments:
Other current assets	$	16	$	18	$	16
Other long-term assets	$	—	$	—	$	—
Accrued expenses and other current liabilities	$	2	$	1	$	1
Lease incentives and other long-term liabilities	$	—	$	—	$	—

Total derivatives in an asset position	$	84	$	157	$	98
Total derivatives in a liability position	$	8	$	1	$	2

Effects of Derivative Financial Instruments on OCI and Condensed Consolidated Statements of Income

The effective portion of gains and losses on foreign exchange forward contracts in cash flow hedging and net investment hedging relationships recorded in other comprehensive income and the Condensed Consolidated Statements of Income, on a pre-tax basis, are as follows:



	13 Weeks Ended					39 Weeks Ended
($ in millions)	October 31, 2015			November 1, 2014		October 31, 2015		November 1, 2014
Derivatives in cash flow hedging relationships:
Gain (loss) recognized in other comprehensive income	$	(8	)	$	86	$	31	$	75
Gain reclassified into cost of goods sold and occupancy expenses	$	45		$	16	$	99	$	26
Gain reclassified into operating expenses	$	2		$	2	$	5	$	4

Derivatives in net investment hedging relationships:
Gain recognized in other comprehensive income	$	—		$	2	$	1	$	2