ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

4 Months Ended

May 20, 2017

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

8.ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following table represents the changes in AOCI by component for the first quarters of 2016 and 2017:

					Pension and
	Cash Flow				Postretirement
	Hedging		Available for sale		Defined Benefit
	Activities(1)		Securities(1)		Plans(1)		Total(1)
Balance at January 30, 2016	$	(51)	$	20	$	(649)	$	(680)
OCI before reclassifications(2)		(27)		(6)		—		(33)
Amounts reclassified out of AOCI(3)		1		—		9		10
Net current-period OCI		(26)		(6)		9		(23)
Balance at May 21, 2016	$	(77)	$	14	$	(640)	$	(703)
Balance at January 28, 2017	$	(2)	$	—	$	(713)	$	(715)
OCI before reclassifications(2)		(36)		—		—		(36)
Amounts reclassified out of AOCI(3)		—		—		13		13
Net current-period OCI		(36)		—		13		(23)
Balance at May 20, 2017	$	(38)	$	—	$	(700)	$	(738)

(1) All amounts are net of tax.

(2) Net of tax of $(15) and $(3) for cash flow hedging activities and available for sale securities, respectively, for the first quarter of 2016. Net of tax of $(21) for cash flow hedging activities for the first quarter of 2017.

(3) Net of tax of $5 for pension and postretirement defined benefit plans for the first quarter of 2016.  Net of tax of $8 for pension and postretirement defined benefit plans for the first quarter of 2017.

The following table represents the items reclassified out of AOCI and the related tax effects for the first quarters of 2017 and 2016:

	First Quarter Ended
	May 20,		May 21,
	2017		2016
Cash flow hedging activity items
Amortization of gains and losses on cash flow hedging activities(1)	$	—	$	1
Tax expense		—		—
Net of tax		—		1
Pension and postretirement defined benefit plan items
Amortization of amounts included in net periodic pension expense(2)		21		14
Tax expense		(8)		(5)
Net of tax		13		9
Total reclassifications, net of tax	$	13	$	10

(1) Reclassified from AOCI into interest expense.

(2) Reclassified from AOCI into merchandise costs and operating, general and administrative expense.  These components are included in the computation of net periodic pension expense (see Note 3 for additional details).