Fair Value Measurements (Tables)

12 Months Ended

Jan. 30, 2016

Carrying Value And Fair Value Of Long Term Debt, Disclosure

The following table provides a summary of the principal value and fair value of long-term debt as of January 30, 2016 and January 31, 2015:

	January 30, 2016		January 31, 2015
	(in millions)
Principal Value	$	5,750	$	4,750
Fair Value (a)	6,209		5,305

________________

(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 January 30, 2016 and January 31, 2015:

	Level 1		Level 2		Level 3		Total
	(in millions)
As of January 30, 2016
Assets:
Cash and Cash Equivalents	$	2,548	$	—	$	—	$	2,548
Marketable Securities	22		—		—		22
Interest Rate Designated Fair Value Hedges	—		11		—		11
Cross-currency Cash Flow Hedges	—		27		—		27
As of January 31, 2015
Assets:
Cash and Cash Equivalents	$	1,681	$	—	$	—	$	1,681
Interest Rate Designated Fair Value Hedges	—		12		—		12
Cross-currency Cash Flow Hedges	—		21		—		21
Liabilities:
Lease Guarantees	—		—		1		1

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 2015 and 2014:

	2015			2014
	(in millions)
Beginning Balance	$	1		$	1
Change in Estimated Fair Value Reported in Earnings	(1		)	—
Ending Balance	$	—		$	1