Fair Value Measurements (Tables)

12 Months Ended

Jan. 31, 2019

Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]

Information for the cost basis, carrying value and fair value of the Company's investment in JD is 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 January 31, 2019
Investment in JD measured using Level 1 inputs	$	1,901	$	3,547	$	3,547	⁽¹⁾	$	1,791
Investment in JD measured using Level 2 inputs	1,490		1,490		3,559		⁽²⁾	1,792
Total	$	3,391	$	5,037	$	7,106		$	3,583	⁽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 decreases in fair value from February 1, 2018 to January 31, 2019 of $3.5 billion was recognized in net income and included in other gains and losses in the Company's Consolidated Statements of Income.

Notional amounts and fair values of derivatives

As of January 31, 2019 and January 31, 2018, the notional amounts and fair values of these derivatives were as follows:



	January 31, 2019					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	$	(78	)	$	4,000	$	(91	)
Receive fixed-rate, pay fixed-rate cross-currency swaps designated as net investment hedges	2,250		334			2,250		208
Receive fixed-rate, pay fixed-rate cross-currency swaps designated as cash flow hedges	4,173		(272		)	4,523		205
Total	$	10,423	$	(16	)	$	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 January 31, 2019 and 2018, are as follows:



	January 31, 2019				January 31, 2018
(Amounts in millions)	Carrying Value		Fair Value		Carrying Value		Fair Value
Long-term debt, including amounts due within one year	$	45,396	$	49,570	$	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.

+ References + Details

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

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