Derivative Instruments Derivative Instruments (Tables)

9 Months Ended

Nov. 03, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Gross fair values of outstanding derivative instruments

The following tables present the gross fair values of our outstanding derivative instruments and the corresponding classification at November 3, 2018, February 3, 2018, and October 28, 2017 ($ in millions):

		Assets
Contract Type	Balance Sheet Location	November 3, 2018		February 3, 2018		October 28, 2017
Derivatives designated as net investment hedges	Other current assets	$	1	$	2	$	3
Derivatives designated as interest rate swaps	Other current assets and Other assets	—		—		3
No hedge designation (foreign exchange forward contracts)	Other current assets	—		—		2
Total		$	1	$	2	$	8

		Liabilities
Contract Type	Balance Sheet Location	November 3, 2018		February 3, 2018		October 28, 2017
Derivatives designated as net investment hedges	Accrued liabilities	$	—	$	7	$	5
Derivatives designated as interest rate swaps	Accrued liabilities and Long-term liabilities	22		5		3
No hedge designation (foreign exchange forward contracts)	Accrued liabilities	—		1		—
Total		$	22	$	13	$	8

Effects of derivative instruments on OCI and earnings

The following table presents the effects of derivative instruments on other comprehensive income ("OCI") for the three and nine months ended November 3, 2018, and October 28, 2017 ($ in millions):

	Three Months Ended				Nine Months Ended
Derivatives designated as net investment hedges	November 3, 2018		October 28, 2017		November 3, 2018		October 28, 2017
Pre-tax gain (loss) recognized in OCI	$	2	$	8	$	21	$	(3	)

Effects of derivatives not designated as hedging instruments on earnings

The following table presents the effects of derivatives not designated as hedging instruments on our Condensed Consolidated Statements of Earnings for the three and nine months ended November 3, 2018, and October 28, 2017 ($ in millions):

		Gain (Loss) Recognized
		Three Months Ended				Nine Months Ended
Contract Type	Statement of Earnings Location	November 3, 2018		October 28, 2017		November 3, 2018		October 28, 2017
No hedge designation (foreign exchange contracts)	SG&A	$	—	$	2	$	2	$	(1	)

Effects of interest rate derivatives and adjustments to LTD on earnings

The following table presents the effects of interest rate derivatives and adjustments to the carrying value of long-term debt on our Condensed Consolidated Statements of Earnings for the three and nine months ended November 3, 2018, and October 28, 2017 ($ in millions):

		Gain (Loss) Recognized
		Three Months Ended						Nine Months Ended
Contract Type	Statement of Earnings Location	November 3, 2018			October 28, 2017			November 3, 2018			October 28, 2017
Interest rate swap contracts	Interest expense	$	(15	)	$	16		$	(16	)	$	13
Adjustments to carrying value of long-term debt	Interest expense	15			(16		)	16			(13		)
Total		$	—		$	—		$	—		$	—

Notional amount of derivative instruments

The following table presents the notional amounts of our derivative instruments at November 3, 2018, February 3, 2018, and October 28, 2017 ($ in millions):

	Notional Amount
Contract Type	November 3, 2018		February 3, 2018		October 28, 2017
Derivatives designated as net investment hedges	$	16	$	462	$	240
Derivatives designated as interest rate swap contracts	1,150		1,150		1,150
No hedge designation (foreign exchange forward contracts)	67		33		64
Total	$	1,233	$	1,645	$	1,454