Fair Value Measurements (Tables)

3 Months Ended

Apr. 30, 2018

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

The investment in JD cost basis, fair value at April 30, 2018 and February 1, 2018, and carrying value at January 31, 2018, are as follows:



(Amounts in millions)	Cost Basis		Carrying Value as of January 31, 2018		Fair Value as of February 1, 2018			Fair Value as of April 30, 2018
Investment in JD measured using Level 1 inputs	$	1,901	$	3,547	$	3,547	⁽¹⁾	$	2,631
Investment in JD measured using Level 2 inputs	1,490		1,490		3,559		⁽²⁾	2,637
Total	$	3,391	$	5,037	$	7,106		$	5,268	⁽³⁾

(1) Fair value was already recognized on the balance sheet. Upon adoption of the new financial instrument standard on February 1, 2018, the excess of fair value over cost was reclassified from accumulated other comprehensive loss to retained earnings.

(2) Upon adoption of the new financial instrument standard on February 1, 2018, the excess of fair value over cost was recognized by increasing the carrying value of the asset and retained earnings.

(3) The decrease in fair value from February 1, 2018 to April 30, 2018 of $1.8 billion was recognized in net income and included in unrealized gains and losses on the Condensed Consolidated Statements of Income.

Notional amounts and fair values of derivatives

As of April 30, 2018 and January 31, 2018, the notional amounts and fair values of these derivatives were as follows:



	April 30, 2018					January 31, 2018
(Amounts in millions)	Notional Amount		Fair Value			Notional Amount		Fair Value
Receive fixed-rate, pay variable-rate interest rate swaps designated as fair value hedges	$	4,000	$	(145	)	$	4,000	$	(91	)
Receive fixed-rate, pay fixed-rate cross-currency swaps designated as net investment hedges	2,250		217			2,250		208
Receive fixed-rate, pay fixed-rate cross-currency swaps designated as cash flow hedges	4,395		131			4,523		205
Total	$	10,645	$	203		$	10,773	$	322

Carrying value and fair value of long-term debt

The carrying value and fair value of the Company's long-term debt as of April 30, 2018 and January 31, 2018, are as follows:



	April 30, 2018				January 31, 2018
(Amounts in millions)	Carrying Value		Fair Value		Carrying Value		Fair Value
Long-term debt, including amounts due within one year	$	31,053	$	34,770	$	33,783	$	38,766

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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