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Debt | 12 Months Ended
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Feb. 01, 2020
Debt Disclosure [Abstract] |
Debt | 2. Debt Long-term debt includes the following unsecured senior debt:
|  |  |  |  |  |  |  | Outstanding
| Maturity (Dollars in Millions) | Effective Rate | Coupon Rate | Feb 1, 2020 | Feb 2, 2019
| 2023 |  | 3.25 | % |  | 3.25 | % | $ | 350 |  | $ | 350 |
| 2023 |  | 4.78 | % |  | 4.75 | % |  | 184 |  |  | 184 |
| 2025 |  | 4.25 | % |  | 4.25 | % |  | 650 |  |  | 650 |
| 2029 |  | 7.36 | % |  | 7.25 | % |  | 42 |  |  | 42 |
| 2033 |  | 6.05 | % |  | 6.00 | % |  | 113 |  |  | 113 |
| 2037 |  | 6.89 | % |  | 6.88 | % |  | 101 |  |  | 101 |
| 2045 |  | 5.57 | % |  | 5.55 | % |  | 427 |  |  | 433 |
| Outstanding long-term debt |  |  |  |  |  |  |  | 1,867 |  |  | 1,873 |
| Unamortized debt discounts and deferred financing costs |  |  |  |  |  |  |  | (11 | ) |  | (12 | )
| Long-term debt |  |  |  |  |  |  | $ | 1,856 |  | $ | 1,861 |
| Effective interest rate |  |  |  |  |  |  |  | 4.74 | % |  | 4.74 | %
The estimated fair value of our long-term debt was $2.0 billion at February 1, 2020 and $1.8 billion at February 2, 2019, and would be classified as Level 1, financial instruments with unadjusted, quoted prices listed on active market exchanges. In 2019, we amended and extended our existing credit facility with various lenders which provides for a $1.0 billion senior unsecured five-year revolving credit facility that will mature in July 2024. No amounts were outstanding on the credit facility at February 2, 2020 or February 1, 2019. We also reduced our outstanding debt by $6 million through repurchases of our notes on the open market. Our various debt agreements contain covenants including limitations on additional indebtedness and certain financial tests. As of February 1, 2020, we were in compliance with all covenants of the various debt agreements. We also had outstanding trade letters of credit totaling approximately $50 million at February 1, 2020 issued under uncommitted lines with two banks.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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