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Fair Value Measurements (Tables)
12 Months Ended
Jan. 30, 2021
Fair Value Measurements [Abstract]  
Fair Value, Assets and Liabilities Measured on Recurring Basis

Fair Value at

Balance Sheet Location(1)

Fair Value Hierarchy

January 30, 2021

February 1, 2020

Assets

Money market funds(2)

Cash and cash equivalents

Level 1

$

1,575 

$

524 

Commercial paper(2)

Cash and cash equivalents

Level 2

-

75 

Time deposits(3)

Cash and cash equivalents

Level 2

865 

185 

Time deposits(3)

Other current assets

Level 2

65 

101 

Marketable securities that fund deferred compensation(4)

Other assets

Level 1

53 

48 

Interest rate swap derivative instruments(5)

Other assets

Level 2

91 

89 

(1)Balance sheet location is determined by the length to maturity from the current period-end date.

(2)Valued at quoted market prices in active markets for same (Level 1) or similar (Level 2) instruments.

(3)Valued at face value plus accrued interest, which approximates fair value.

(4)Valued using select mutual fund performance that trade with sufficient frequency and volume to obtain pricing information on an ongoing basis.

(5)Valued using readily observable market inputs. These instruments are custom, over-the-counter contracts with various bank counterparties that are not traded on an active market. Refer to Note 6, Derivative Instruments, for additional information.

Fair Value of Financial Instruments

January 30, 2021

February 1, 2020

Fair Value

Carrying Value

Fair Value

Carrying Value

Long-term debt(1)

$

1,331 

$

1,241 

$

1,322 

$

1,239 

(1)Excludes debt discounts, issuance costs and finance lease obligations