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Derivative Instruments
12 Months Ended
Jan. 29, 2022
Derivative Instruments [Abstract]  
Derivative Instruments 6.   Derivative Instruments We manage our economic and transaction exposure to certain risks by using foreign exchange forward contracts to hedge against the effect of Canadian dollar exchange rate fluctuations on a portion of our net investment in our Canadian operations, and interest rate swaps to mitigate the effect of interest rate fluctuations on our 2028 Notes. In addition, we use foreign currency forward contracts not designated as hedging instruments to manage the impact of fluctuations in foreign currency exchange rates relative to recognized receivable and payable balances denominated in non-functional currencies. Our derivative instruments designated as net investment hedges and interest rate swaps are recorded on our Consolidated Balance Sheets at fair value. See Note 5, Fair Value Measurements, for gross fair values of our outstanding derivative instruments and corresponding fair value classifications. Notional amounts of our derivative instruments were as follows ($ in millions): Notional AmountContract TypeJanuary 29, 2022 January 30, 2021Derivatives designated as net investment hedges$ 155  $ 153  Derivatives designated as interest rate swap contracts 500  500  No hedging designation (foreign exchange forward contracts) 68  51  Total$ 723  $ 704  Effects of our derivative instruments on our Consolidated Statements of Earnings were as follows ($ in millions): Gain (Loss) RecognizedContract TypeStatement of Earnings Location2022 2021Interest rate swap contractsInterest expense$ (41) $ 2  Adjustments to carrying value of long-term debtInterest expense 41  (2) Total $ - $ -