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Fair Value Measurements (Tables)
 9 Months Ended
Nov. 02, 2018
Fair Value Measurements  
Fair value measurements - recurring basis
The following table presents the Company’s financial assets measured at fair value on a recurring basis as of November 2, 2018, November 3, 2017, and February 2, 2018. The fair values of these instruments approximated amortized costs.
 
 
 
Fair Value Measurements at
(In millions)
Measurement Level
 
November 2, 2018
 
November 3, 2017
 
February 2, 2018
Short-term investments:
 
 
 
 
 
 
 
Available-for-sale securities
 
 
 
 
 
 
 
Money market funds
Level 1
 
$
181

 
$
70

 
$
86

Certificates of deposit
Level 1
 
17

 
15

 
16

Agency securities
Level 2
 
10

 
—

 
—

Total short-term investments
 
 
$
208

 
$
85

 
$
102

Long-term investments:
 
 
 
 
 
 
 
Available-for-sale securities
 
 
 
 
 
 
 
Corporate debt securities
Level 2
 
$
224

 
$
—

 
$
—

Agency securities
Level 2
 
66

 
—

 
—

Municipal floating rate obligations
Level 2
 
—

 
368

 
407

Certificates of deposit
Level 1
 
—

 
2

 
1

Total long-term investments
 
 
$
290

 
$
370

 
$
408
Fair value measurements - nonrecurring basis
The following table presents the Company’s non-financial assets measured at estimated fair value on a nonrecurring basis and the resulting long-lived asset impairment losses included in earnings. Because assets subject to long-lived asset impairment are not measured at fair value on a recurring basis, certain fair value measurements presented in the table may reflect values at earlier measurement dates and may no longer represent the fair values at November 2, 2018.

 
Fair Value Measurements

 
Impairment Losses
(In millions)
November 2, 2018

 
Three Months Ended November 2, 2018

 
Nine Months Ended November 2, 2018

Assets-held-for-use:
 
 
 
 
 
Operating locations
$
473

 
$
(112
)
 
$
(329
)
Total
$
473

 
$
(112
)
 
$
(329
)
Fair value of financial instruments
Carrying amounts and the related estimated fair value of the Company’s long-term debt, excluding capitalized lease obligations, are as follows:
 
November 2, 2018
 
November 3, 2017
 
February 2, 2018
(In millions)
Carrying Amount

 
Fair Value

 
Carrying Amount

 
Fair Value

 
Carrying Amount

 
Fair Value

Unsecured notes (Level 1)
$
14,718

 
$
14,430

 
$
14,958

 
$
15,974

 
$
14,961

 
$
15,608

Mortgage notes (Level 2)
6

 
6

 
7

 
7

 
6

 
7

Long-term debt (excluding capitalized lease obligations)
$
14,724

 
$
14,436

 
$
14,965

 
$
15,981

 
$
14,967

 
$
15,615