Fair Value Measurements (Tables)

12 Months Ended

Feb. 01, 2020

Carrying Value And Fair Value Of Long Term Debt, Disclosure

The following table provides a summary of the principal value and estimated fair value of outstanding publicly traded debt as of February 1, 2020 and February 2, 2019:

	February 1, 2020		February 2, 2019
	(in millions)
Principal Value	$	5,458	$	5,722
Fair Value, Estimated (a)	5,555		5,340

________________

(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 820, Fair Value Measurement. 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 1, 2020 and February 2, 2019:

 

	Level 1		Level 2		Level 3		Total
	(in millions)
As of February 1, 2020
Assets:
Cash and Cash Equivalents	$	1,499	$	—	$	—	$	1,499
Foreign Currency Cash Flow Hedges	—		1		—		1
Liabilities:
Foreign Currency Cash Flow Hedges	—		1		—		1
As of February 2, 2019
Assets:
Cash and Cash Equivalents	$	1,413	$	—	$	—	$	1,413
Marketable Equity Securities	11		—		—		11
Foreign Currency Cash Flow Hedges	—		2		—		2