Derivative Financial Instruments (Tables)

12 Months Ended

Feb. 02, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Foreign Exchange Forward Contracts Outstanding

As of February 2, 2019 and February 3, 2018, we had foreign exchange forward contracts outstanding in the following notional amounts:

($ in millions)	February 2, 2019		February 3, 2018
Derivatives designated as cash flow hedges	$	774	$	745
Derivatives not designated as hedging instruments	660		577
Total	$	1,434	$	1,322

Fair Values of Asset and Liability Derivative Financial Instruments

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

($ in millions)	February 2, 2019		February 3, 2018
Derivatives designated as cash flow hedges:
Other current assets	$	15	$	11
Other long-term assets	—		—
Accrued expenses and other current liabilities	3		32
Lease incentives and other long-term liabilities	—		—
Derivatives not designated as hedging instruments:
Other current assets	$	5	$	3
Other long-term assets	—		—
Accrued expenses and other current liabilities	8		11
Lease incentives and other long-term liabilities	—		—
Total derivatives in an asset position	$	20	$	14
Total derivatives in a liability position	$	11	$	43

Effects of Derivative Financial Instruments on OCI and 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 OCI and on the Consolidated Statements of Income, on a pre-tax basis, are as follows:

	Fiscal Year
($ in millions)	2018		2017			2016
Derivatives in cash flow hedging relationships:
Gain (loss) recognized in other comprehensive income	$	50	$	(60	)	$	(28	)
Gain reclassified into cost of goods sold and occupancy expenses	13		—			31
Gain (loss) reclassified into operating expenses	1		(1		)	(8		)
Derivatives in net investment hedging relationships:
Loss recognized in other comprehensive income	$	—	$	(1	)	$	(2	)

Derivatives Not Designated as Hedging Instruments [Table Text Block]

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

	Fiscal Year
($ in millions)	2018		2017			2016
Gain (loss) recognized in operating expenses	$	33	$	(29	)	$	18