Commitments and Contingencies

12 Months Ended

Jan. 30, 2016

Commitments And Contingencies [Abstract]

Commitments and Contingencies

Commitments and Contingencies

The Company is subject to various claims and contingencies related to lawsuits, taxes, insurance, regulatory and other matters arising out of the normal course of business. Actions filed against the Company from time to time include commercial, tort, intellectual property, customer, employment, data privacy, securities and other claims, including purported class action lawsuits. Management believes that the ultimate liability arising from such claims and contingencies, if any, is not likely to have a material adverse effect on the Company’s results of operations, financial condition or cash flows.

Guarantees

In connection with the disposition of certain businesses, the Company has remaining guarantees of approximately $24 million related to lease payments of Express, Limited Stores and Dick’s Sporting Goods under the current terms of noncancelable leases expiring at various dates through 2021. These guarantees include minimum rent and additional payments covering taxes, common area costs and certain other expenses and relate to leases that commenced prior to the disposition of the businesses. In certain instances, the Company’s guarantee may remain in effect if the term of a lease is extended.

The Company’s guarantees related to Express and Limited Stores required fair value accounting in accordance with GAAP in effect at the time of these divestitures. The Company’s guarantees related to Dick’s Sporting Goods were not subject to fair value accounting, but require that a loss be accrued when probable and reasonably estimable based on GAAP in effect at the time of that divestiture. A liability of $1 million was recorded for these guarantees as of January 31, 2015, and is included in Other Long-term Liabilities on the Consolidated Balance Sheet. The Company had no liability recorded with respect to any of these guarantee obligations as of January 30, 2016 as it concluded that payments under these guarantees were not probable.

In 2015, in connection with the Company's investment in ETC, the Company provided a guarantee of payment to an interest rate swap counterparty for amounts owed by ETC, if any, upon settlement in February 2017. The Company has not recorded a liability with respect to this guarantee obligation as it concluded that payment under this guarantee was not probable as of January 30, 2016. For additional information, see Note 7, "Equity Investments and Other."

In 2015, in connection with the sale and leaseback under noncancellable operating leases of certain assets, the Company provided residual value guarantees to the lessor if the leased assets cannot be sold for an amount in excess of a specified minimum value at the conclusion of the lease term. The leases expire in 2020, and the total amount of the guarantees is approximately $105 million. The Company recorded a liability of $3 million related to these guarantee obligations as of January 30, 2016, included in Other Long-term Liabilities on the Consolidated Balance Sheet.