Fair Value Measurements (Tables)

12 Months Ended

Feb. 02, 2013

Carrying Value And Fair Value Of Long Term Debt, Disclosure

The following table provides a summary of the carrying value and fair value of long-term debt as of February 2, 2013 and January 28, 2012:

	February 2, 2013		January 28, 2012
	(in millions)
Carrying Value	$	4,477	$	3,538
Fair Value (a)	5,023		3,849

________________

(a) The estimated fair value of the Company’s publicly traded debt is based on reported transaction prices which are considered Level 2 inputs in accordance with ASC Topic 820, Fair Value Measurements and Disclosure. The estimates presented are not necessarily indicative of the amounts that the Company could realize in a current market exchange.

Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table provides a summary of assets and liabilities measured in the consolidated financial statements at fair value on a recurring basis as of February 2, 2013 and January 28, 2012:

	Level 1		Level 2		Level 3		Total
	(in millions)
As of February 2, 2013
Assets:
Cash and Cash Equivalents	$	773	$	—	$	—	$	773
Liabilities:
Cross-currency Cash Flow Hedges	—		59		—		59
Lease Guarantees	—		—		2		2
As of January 28, 2012
Assets:
Cash and Cash Equivalents	$	935	$	—	$	—	$	935
Interest Rate Designated Fair Value Hedges	—		14		—		14
Liabilities:
Cross-currency Cash Flow Hedges	—		60		—		60
Lease Guarantees	—		—		4		4

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table provides a reconciliation of the Company’s lease guarantees measured at fair value on a recurring basis using unobservable inputs (Level 3) for 2012 and 2011:

	2012			2011
	(in millions)
Beginning Balance	$	4		$	6
Change in Estimated Fair Value Reported in Earnings	(2		)	(2		)
Ending Balance	$	2		$	4