XML 57 R34.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Retirement Plans (Tables) | 12 Months Ended
--- | ---
Feb. 03, 2018
Schedule of Costs of Retirement Plans | Retirement expenses, excluding settlement charges, included the following components:
| 2017 |  | 2016 |  | 2015
| (millions)
401(k) Qualified Defined Contribution Plan | $ | 93 |  |  | $ | 94 |  |  | $ | 88 |
Non-Qualified Defined Contribution Plan | 1 |  |  | 2 |  |  | 2 |
Pension Plan | (82 | ) |  | (83 | ) |  | (54 | )
Supplementary Retirement Plan | 31 |  |  | 31 |  |  | 41 |
| $ | 43 |  |  | $ | 44 |  |  | $ | 77 |
Pension Plan [Member] |
Reconciliation of Benefit Obligations, Plan Assets, and Funded Status Pension Plan | The following provides a reconciliation of benefit obligations, plan assets, and funded status of the Pension Plan as of February 3, 2018 and January 28, 2017:
| 2017 |  | 2016
| (millions)
Change in projected benefit obligation |  |  |
Projected benefit obligation, beginning of year | $ | 3,469 |  |  | $ | 3,585 |
Service cost | 6 |  |  | 5 |
Interest cost | 104 |  |  | 108 |
Actuarial loss | 82 |  |  | 55 |
Benefits paid | (390 | ) |  | (284 | )
Projected benefit obligation, end of year | 3,271 |  |  | 3,469 |
Changes in plan assets |  |  |
Fair value of plan assets, beginning of year | 3,374 |  |  | 3,256 |
Actual return on plan assets | 425 |  |  | 402 |
Company contributions | — |  |  | — |
Benefits paid | (390 | ) |  | (284 | )
Fair value of plan assets, end of year | 3,409 |  |  | 3,374 |
Funded status at end of year | $ | 138 |  |  | $ | (95 | )
Amounts recognized in the Consolidated Balance Sheets at February 3, 2018 and January 28, 2017 |  |  |
Other assets (liabilities) | $ | 138 |  |  | $ | (95 | )
Amounts recognized in accumulated other comprehensive loss at February 3, 2018 and January 28, 2017 |  |  |
Net actuarial loss | $ | 992 |  |  | $ | 1,232 |
Schedule of Net Periodic Benefit Costs | Net pension costs, settlement charges and other amounts recognized in other comprehensive loss for the Pension Plan included the following actuarially determined components:
| 2017 |  | 2016 |  | 2015
| (millions)
Net Periodic Pension Cost |  |  |  |  |
Service cost | $ | 6 |  |  | $ | 5 |  |  | $ | 6 |
Interest cost | 104 |  |  | 108 |  |  | 137 |
Expected return on assets | (223 | ) |  | (227 | ) |  | (235 | )
Amortization of net actuarial loss | 31 |  |  | 31 |  |  | 38 |
Amortization of prior service credit | — |  |  | — |  |  | — |
| (82 | ) |  | (83 | ) |  | (54 | )
Settlement charges | 89 |  |  | 68 |  |  | — |
Other Changes in Plan Assets and Projected Benefit Obligation Recognized in Other Comprehensive Loss |  |  |  |  |
Net actuarial (gain) loss | (120 | ) |  | (120 | ) |  | 92 |
Amortization of net actuarial loss | (31 | ) |  | (31 | ) |  | (38 | )
Amortization of prior service credit | — |  |  | — |  |  | — |
Settlement charges | (89 | ) |  | (68 | ) |  | — |
| (240 | ) |  | (219 | ) |  | 54 |
Total recognized | $ | (233 | ) |  | $ | (234 | ) |  | $ | — |
Weighted Average Assumptions | The following weighted average assumptions were used to determine the net periodic pension cost for the Pension Plan:
| 2017 |  | 2016 |  | 2015
Discount rate used to measure service cost | 3.75% - 4.06% |  |  | 3.79% - 4.26% |  |  | 3.55 | %
Discount rate used to measure interest cost | 3.12% - 3.31% |  |  | 2.96% - 3.30% |  |  | 3.55 | %
Expected long-term return on plan assets | 7.00 | % |  | 7.00 | % |  | 7.00 | %
Rate of compensation increases | 4.10 | % |  | 4.10 | % |  | 4.10 | %
The following weighted average assumptions were used to determine the projected benefit obligations for the Pension Plan at February 3, 2018 and January 28, 2017:
| 2017 |  | 2016
Discount rate | 3.74 | % |  | 4.00 | %
Rate of compensation increases | 4.00 | % |  | 4.10 | %
Fair Values of Plan Assets | The fair values of the Pension Plan assets as of February 3, 2018, excluding interest and dividend receivables and pending investment purchases and sales, by asset category are as follows:
| Fair Value Measurements
| Total |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
| (millions)
Short term investments | $ | 5 |  |  | $ | — |  |  | $ | 5 |  |  | $ | — |
Money market funds | 35 |  |  | 35 |  |  | — |  |  | — |
Equity securities: |  |  |  |  |  |  |
U.S. stocks | 157 |  |  | 157 |  |  | — |  |  | — |
U.S. pooled funds | 481 |  |  | 481 |  |  | — |  |  | — |
International pooled funds (a) | 447 |  |  | 114 |  |  | — |  |  | — |
Fixed income securities: |  |  |  |  |  |  |
U. S. Treasury bonds | 44 |  |  | — |  |  | 44 |  |  | — |
Other Government bonds | 59 |  |  | — |  |  | 59 |  |  | — |
Agency backed bonds | 13 |  |  | — |  |  | 13 |  |  | — |
Corporate bonds | 538 |  |  | — |  |  | 538 |  |  | — |
Mortgage-backed securities | 15 |  |  | — |  |  | 15 |  |  | — |
Asset-backed securities | 6 |  |  | — |  |  | 6 |  |  | — |
Pooled funds | 1,310 |  |  | 1,310 |  |  | — |  |  | — |
Other types of investments: |  |  |  |  |  |  |
Real estate (a) | 148 |  |  | — |  |  | — |  |  | — |
Private equity (a) | 183 |  |  | — |  |  | — |  |  | — |
Derivatives in a positive position | 9 |  |  | — |  |  | 9 |  |  | — |
Derivatives in a negative position | (3 | ) |  | — |  |  | (3 | ) |  | — |
Total | $ | 3,447 |  |  | $ | 2,097 |  |  | $ | 686 |  |  | $ | — |
(a) Certain investments that are measured at fair value using the net asset value per share as a practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in these tables are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the fair value of plan assets. The fair values of the Pension Plan assets as of January 28, 2017, excluding interest and dividend receivables and pending investment purchases and sales, by asset category are as follows:
| Fair Value Measurements
| Total |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
| (millions)
Short term investments | $ | 14 |  |  | $ | — |  |  | $ | 14 |  |  | $ | — |
Money market funds | 74 |  |  | 74 |  |  | — |  |  | — |
Equity securities: |  |  |  |  |  |  |  |
U.S. stocks | 309 |  |  | 309 |  |  | — |  |  | — |
U.S. pooled funds (a) | 654 |  |  | 446 |  |  | — |  |  | — |
International pooled funds (a) | 649 |  |  | 131 |  |  | — |  |  | — |
Fixed income securities: |  |  |  |  |  |  |  |
U. S. Treasury bonds | 194 |  |  | — |  |  | 194 |  |  | — |
Other Government bonds | 40 |  |  | — |  |  | 40 |  |  | — |
Agency backed bonds | 24 |  |  | — |  |  | 24 |  |  | — |
Corporate bonds | 453 |  |  | — |  |  | 453 |  |  | — |
Mortgage-backed securities | 85 |  |  | — |  |  | 85 |  |  | — |
Asset-backed securities | 17 |  |  | — |  |  | 17 |  |  | — |
Pooled funds | 461 |  |  | 461 |  |  | — |  |  | — |
Other types of investments: |  |  |  |  |  |  |  |
Real estate (a) | 223 |  |  | — |  |  | — |  |  | — |
Private equity (a) | 186 |  |  | — |  |  | — |  |  | — |
Derivatives in a positive position | 13 |  |  | — |  |  | 13 |  |  | — |
Derivatives in a negative position | (19 | ) |  | — |  |  | (19 | ) |  | — |
Total | $ | 3,377 |  |  | $ | 1,421 |  |  | $ | 821 |  |  | $ | — |
(a) Certain investments that are measured at fair value using the net asset value per share as a practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in these tables are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the fair value of plan assets.
Estimated Future Benefit Payments | The following benefit payments are estimated to be paid from the Pension Plan:
| (millions)
Fiscal year |
2018 | $ | 335 |
2019 | 318 |
2020 | 257 |
2021 | 247 |
2022 | 233 |
2023-2027 | 1,045 |
Supplemental Employee Retirement Plan |
Reconciliation of Benefit Obligations, Plan Assets, and Funded Status Pension Plan | The following provides a reconciliation of benefit obligations, plan assets and funded status of the supplementary retirement plan as of February 3, 2018 and January 28, 2017:
| 2017 |  | 2016
| (millions)
Change in projected benefit obligation |  |  |
Projected benefit obligation, beginning of year | $ | 747 |  |  | $ | 823 |
Service cost | — |  |  | — |
Interest cost | 22 |  |  | 22 |
Actuarial loss | 20 |  |  | 26 |
Benefits paid | (86 | ) |  | (124 | )
Projected benefit obligation, end of year | 703 |  |  | 747 |
Change in plan assets |  |  |
Fair value of plan assets, beginning of year | — |  |  | — |
Company contributions | 86 |  |  | 124 |
Benefits paid | (86 | ) |  | (124 | )
Fair value of plan assets, end of year | — |  |  | — |
Funded status at end of year | $ | (703 | ) |  | $ | (747 | )
Amounts recognized in the Consolidated Balance Sheets at February 3, 2018 and January 28, 2017 |  |  |
Accounts payable and accrued liabilities | $ | (69 | ) |  | $ | (86 | )
Other liabilities | (634 | ) |  | (661 | )
| $ | (703 | ) |  | $ | (747 | )
Amounts recognized in accumulated other comprehensive loss at February 3, 2018 and January 28, 2017 |  |  |
Net actuarial loss | $ | 244 |  |  | $ | 248 |
Prior service cost | 7 |  |  | 8 |
| $ | 251 |  |  | $ | 256 |
Schedule of Net Periodic Benefit Costs | Net pension costs, settlement charges and other amounts recognized in other comprehensive loss for the supplementary retirement plan included the following actuarially determined components:
| 2017 |  | 2016 |  | 2015
| (millions)
Net Periodic Pension Cost |  |  |  |  |
Service cost | $ | — |  |  | $ | — |  |  | $ | — |
Interest cost | 22 |  |  | 22 |  |  | 31 |
Amortization of net actuarial loss | 8 |  |  | 9 |  |  | 10 |
Amortization of prior service cost | 1 |  |  | — |  |  | — |
| 31 |  |  | 31 |  |  | 41 |
Settlement charges | 16 |  |  | 30 |  |  | — |
Other Changes in Plan Assets and Projected Benefit Obligation Recognized in Other Comprehensive Loss |  |  |  |  |
Net actuarial (gain) loss | 20 |  |  | 26 |  |  | (70 | )
Prior service cost | — |  |  | — |  |  | — |
Amortization of net actuarial loss | (8 | ) |  | (9 | ) |  | (10 | )
Amortization of prior service cost | (1 | ) |  | — |  |  | — |
Settlement charges | (16 | ) |  | (30 | ) |  | — |
| (5 | ) |  | (13 | ) |  | (80 | )
Total recognized | $ | 42 |  |  | $ | 48 |  |  | $ | (39 | )
Weighted Average Assumptions | The following weighted average assumption was used to determine the projected benefit obligations for the supplementary retirement plan at February 3, 2018 and January 28, 2017:
| 2017 |  | 2016
Discount rate | 3.78 | % |  | 4.07 | %
The following weighted average assumption was used to determine net pension costs for the supplementary retirement plan:
| 2017 |  | 2016 |  | 2015
Discount rate used to measure interest cost | 3.10% - 3.26% |  | 2.65% - 3.16% |  | 3.55 | %
Estimated Future Benefit Payments | The following benefit payments are estimated to be funded by the Company and paid from the supplementary retirement plan:
| (millions)
Fiscal year |
2018 | $ | 69 |
2019 | 49 |
2020 | 48 |
2021 | 49 |
2022 | 48 |
2023-2027 | 223 |

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the aggregate benefit obligation and aggregate fair value of plan assets for pension plans and/or other employee benefit plans with benefit obligations in excess of plan assets as of the measurement date. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e2417-114920 + Details
Name: | us-gaap_ScheduleOfBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the costs related to the various types of retirement plans including defined benefit pension plan cost, defined contribution plan cost, other postretirement benefit plan cost, and net periodic benefit cost. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfCostsOfRetirementPlansTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_RetirementPlanTypeAxis=us-gaap_PensionPlansDefinedBenefitMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RetirementPlanTypeAxis=us-gaap_SupplementalEmployeeRetirementPlanDefinedBenefitMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |