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RETIREMENT AND BENEFIT PLANS (Tables)
 12 Months Ended
Feb. 04, 2018
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Changes in Accumulated and Projected Benefit Obligations [Table Text Block]
Reconciliations of the changes in the projected benefit obligation (Pension Plans and SERP Plans) and the accumulated benefit obligation (Postretirement Plans) for each of the last two years were as follows:

 
Pension Plans
 
SERP Plans
 
Postretirement Plans
(In millions)
2017
 
2016
 
2017
 
2016
 
2017
 
2016
Balance at beginning of year
$
627.5

 
$
651.7

 
$
87.6

 
$
88.6

 
$
11.4

 
$
15.8

Service cost
26.3

 
24.4

 
4.5

 
4.3

 
—

 
—

Interest cost
25.7

 
29.8

 
3.8

 
3.9

 
0.4

 
0.5

Benefit payments
(29.4
)
 
(75.6
)
 
(5.1
)
 
(8.5
)
 
—

 
—

Benefit payments, net of retiree contributions
—

 
—

 
—

 
—

 
(1.6
)
 
(1.9
)
Plan curtailments
(0.3
)
 
—

 
—

 
—

 
—

 
—

Plan settlements
(65.3
)
 
—

 
—

 
—

 
—

 
—

Medicare subsidy
—

 
—

 
—

 
—

 
0.0

 
0.0

Actuarial loss (gain)
63.5

 
(2.8
)
 
6.1

 
(0.7
)
 
0.3

 
(3.0
)
Balance at end of year
$
648.0

 
$
627.5

 
$
96.9

 
$
87.6

 
$
10.5

 
$
11.4



The actuarial losses in 2017 were due principally to decreases in the discount rates.

In 2017, the Company completed the purchase of a group annuity using assets from the Pension Plans. Under the group annuity, the accrued pension obligations for approximately 4,000 retiree participants who had deferred vested benefits under the Pension Plans were transferred to an insurer. As a result, the Company recognized a loss of $9.4 million, which was recorded in SG&A expenses in the Company’s Consolidated Income Statement for 2017. The amount of the pension benefit obligation settled was $65.3 million.

In 2016, benefit payments from the Pension Plans included lump sum payments, as certain vested participants, whose employment had been terminated, were offered an opportunity to elect a lump sum payment of their accrued pension benefit from the Pension Plans. Such payments totaling $44.8 million were made in 2016 using assets from the Pension Plans and satisfied the Company’s remaining benefit obligations for these participants.
Schedule of Changes in Fair Value of Plan Assets [Table Text Block]
Reconciliations of the fair value of the assets held by the Pension Plans and the funded status for each of the last two years were as follows:
(In millions)
2017
 
2016
Fair value of plan assets at beginning of year
$
659.5

 
$
567.4

Actual return, net of plan expenses
95.5

 
67.7

Benefit payments
(29.4
)
 
(75.6
)
Plan settlements
(65.3
)
 
—

Company contributions
0.3

 
100.0

Fair value of plan assets at end of year
$
660.6

 
$
659.5

Funded status at end of year
$
12.6

 
$
32.0
Schedule of Amounts Recognized in Balance Sheet [Table Text Block]
Amounts recognized in the Company’s Consolidated Balance Sheets were as follows:
 
Pension Plans
 
SERP Plans
 
Postretirement Plans
(In millions)
2017
 
2016
 
2017
 
2016
 
2017
 
2016
Non-current assets
$
19.1

 
$
32.6

 
$
—

 
$
—

 
$
—

 
$
—

Current liabilities
—

 
—

 
(7.4
)
 
(8.5
)
 
(1.4
)
 
(1.5
)
Non-current liabilities
(6.5
)
 
(0.6
)
 
(89.5
)
 
(79.1
)
 
(9.1
)
 
(9.9
)
Net amount recognized
$
12.6

 
$
32.0

 
$
(96.9
)
 
$
(87.6
)
 
$
(10.5
)
 
$
(11.4
)
Schedule of Net Benefit Costs [Table Text Block]
The components of net benefit cost recognized in SG&A expenses in each of the last three years were as follows:
 
 
Pension Plans
 
SERP Plans
 
Postretirement Plans
(In millions)
 
2017
 
2016
 
2015
 
2017
 
2016
 
2015
 
2017
 
2016
 
2015
Service cost, including plan expenses
 
$
27.3

 
$
25.2

 
$
30.6

 
$
4.5

 
$
4.4

 
$
5.6

 
$
—

 
$
—

 
$
—

Interest cost
 
25.7

 
29.8

 
27.8

 
3.8

 
3.9

 
3.7

 
0.4

 
0.5

 
0.6

Actuarial (gain) loss
 
(3.9
)
 
(35.4
)
 
(10.1
)
 
6.1

 
(0.7
)
 
(9.1
)
 
0.3

 
(3.0
)
 
(1.0
)
Expected return on plan assets
 
(38.6
)
 
(35.9
)
 
(42.5
)
 
—

 
—

 
—

 
—

 
—

 
—

Amortization of prior service cost (credit)
 
0.1

 
0.0

 
0.0

 
(0.0
)
 
(0.1
)
 
(0.1
)
 
—

 
(0.3
)
 
(0.4
)
Curtailment gain
 
(0.3
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Settlement loss
 
9.4

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Total
 
$
19.7

 
$
(16.3
)
 
$
5.8

 
$
14.4

 
$
7.5

 
$
0.1

 
$
0.7

 
$
(2.8
)
 
$
(0.8
)

The actuarial losses in 2017 were due principally to decreases in the discount rates. For the Pension Plans, these losses were more than offset by the actuarial gain as a result of the difference between the actual and expected returns on plan assets.
Schedule of Accumulated Benefit Obligations [Table Text Block]
The accumulated benefit obligation (Pension Plans and SERP Plans) for each of the last two years were as follows:
 
Pension Plans
 
SERP Plans
(In millions)
2017
 
2016
 
2017
 
2016
Accumulated benefit obligation
$
595.6

 
$
586.0

 
$
79.6

 
$
71.9
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]
In 2017, two of the Company’s Pension Plans had projected benefit obligations and accumulated benefit obligations in excess of plan assets. In 2016, two of the Company’s Pension Plans had projected benefit obligations in excess of plan assets and one of the Company’s Pension Plans had an accumulated benefit obligation in excess of plan assets. The balances were as follows:
(In millions, except plan count)
2017
 
2016
Number of plans with projected benefit obligations in excess of plan assets
2

 
2

Aggregate projected benefit obligation
$
41.6

 
$
34.6

Aggregate fair value of related plan assets
$
35.1

 
$
34.0

 
 
 
 
Number of plans with accumulated benefit obligations in excess of plan assets
2

 
1

Aggregate accumulated benefit obligation
$
37.4

 
$
3.3

Aggregate fair value of related plan assets
$
35.1

 
$
3.1


In 2017 and 2016, all of the Company’s SERP Plans had projected benefit obligations and accumulated benefit obligations in excess of plan assets as the plans are unfunded.
Schedule of Assumptions Used [Table Text Block]
Significant weighted average rate assumptions used in determining the projected and accumulated benefit obligations at the end of each year and benefit cost in the following year were as follows:
 
2017
 
2016
 
2015
Discount rate (applies to Pension Plans and SERP Plans)
4.08
%
 
4.59
%
 
4.72
%
Discount rate (applies to Postretirement Plans)

3.91
%
 
4.04
%
 
4.28
%
Rate of increase in compensation levels (applies to Pension Plans)
4.24
%
 
4.27
%
 
4.22
%
Expected long-term rate of return on assets (applies to Pension Plans)
6.00
%
 
6.50
%
 
6.50
%

To develop the expected long-term rate of return on assets assumption, the Company considered the historical level of the risk premium associated with the asset classes in which the portfolio is invested and the expectations for future returns of each asset class. The expected return for each asset class was then weighted based on the target asset allocation.
Schedule of Allocation of Plan Assets [Table Text Block]
In accordance with the fair value hierarchy described in Note 11, “Fair Value Measurements,” the following tables show the fair value of the total assets of the Pension Plans for each major category as of February 4, 2018 and January 29, 2017:
(In millions)
 
 
 
Fair Value Measurements as of
February 4, 2018(1) 
Asset Category
 
Total
 
Quoted Prices
In Active
Markets for
Identical Assets
(Level 1)
 
Observable
Inputs
(Level 2)
 
Unobservable
Inputs
(Level 3)
Equity securities:
 
 
 
 
 
 
 
 
United States equities(2)
 
$
179.8

 
$
179.8

 
$
—

 
$
—

International equities(2)
 
13.0

 
13.0

 
—

 
—

United States equity fund(3)
 
58.9

 
—

 
58.9

 
—

International equity funds(4)
 
140.0

 
65.6

 
74.4

 
—

Fixed income securities:
 
 

 
 

 
 

 
 

Government securities(5)
 
58.1

 
—

 
58.1

 
—

Corporate securities(5)
 
183.3

 
—

 
183.3

 
—

Short-term investment funds(6)
 
18.4

 
—

 
18.4

 
—

Total return mutual fund(7)
 
6.6

 
6.6

 
—

 
—

Subtotal
 
$
658.1

 
$
265.0

 
$
393.1

 
$
—

Other assets and liabilities(8)
 
2.5

 
 

 
 

 
 

Total
 
$
660.6

 
 

 
 

 
 



(In millions)
 
 
 
Fair Value Measurements as of
January 29, 2017(1)
Asset Category
 
Total
 
Quoted Prices
In Active
Markets for
Identical Assets
(Level 1)
 

Observable
Inputs
(Level 2)
 
Unobservable
Inputs
(Level 3)
Equity securities:
 
 
 
 
 
 
 
 
United States equities(2)
 
$
193.0

 
$
193.0

 
$
—

 
$
—

International equities(2)
 
12.2

 
12.2

 
—

 
—

United States equity fund(3)
 
51.6

 
—

 
51.6

 
—

International equity funds(4)
 
130.5

 
70.4

 
60.1

 
—

Fixed income securities:
 
 

 
 

 
 

 
 

Government securities(5)
 
63.3

 
—

 
63.3

 
—

Corporate securities(5)
 
181.0

 
—

 
181.0

 
—

Short-term investment funds(6)
 
18.9

 
—

 
18.9

 
—

Total return mutual fund(7)
 
5.6

 
5.6

 
—

 
—

Subtotal
 
$
656.1

 
$
281.2

 
$
374.9

 
$
—

Other assets and liabilities(8)
 
3.4

 
 

 
 

 
 

Total
 
$
659.5

 
 

 
 

 
 

(1) 
The Company uses third party pricing services to determine the fair values of the financial instruments held by the Pension Plans. The Company obtains an understanding of the pricing services’ valuation methodologies and related inputs and validates a sample of prices provided by the pricing services by reviewing prices from other pricing sources and analyzing pricing data in certain instances. The Company has not adjusted any prices received from the third party pricing services.
(2) 
Valued at the closing price or unadjusted quoted price in the active market in which the individual securities are traded.
(3) 
Valued at the net asset value of the fund, as determined by a pricing vendor or the fund family. The Company has the ability to redeem this investment at net asset value within the near term and therefore classifies this investment within Level 2. This commingled fund invests in United States large cap equities that track the Russell 1000 Index.
(4) 
Valued at the net asset value of the fund, either as determined by the closing price in the active market in which the individual fund is traded and classified within Level 1, or as determined by a pricing vendor or the fund family and classified within Level 2. This category includes funds that invest in equities of companies outside of the United States.
(5) 
Valued with bid evaluation pricing where the inputs are based on actual trades in active markets, when available, as well as observable market inputs that include actual and comparable trade data, market benchmarks, broker quotes, trading spreads and/or other applicable data.
(6) 
Valued at the net asset value of the funds, as determined by a pricing vendor or the fund family. The Company has the ability to redeem these investments at net asset value within the near term and therefore classifies these investments within Level 2. These funds invest in high-grade, short-term, money market instruments.
(7) 
Valued at the net asset value of the fund, as determined by the closing price in the active market in which the individual fund is traded. This mutual fund invests in both equity securities and fixed income securities.
(8) 
This category includes other pension assets and liabilities such as pending trades and accrued income.
Schedule of Expected Benefit Payments [Table Text Block]
The expected benefit payments associated with the Pension Plans and SERP Plans, and expected benefit payments, net of retiree contributions, associated with the Postretirement Plans are as follows:
(In millions)
 
 
 
 
 
 
Fiscal Year
 
Pension Plans
 
SERP Plans
 
Postretirement Plans
2018
 
$
24.7

 
$
7.4

 
$
1.4

2019
 
25.3

 
7.3

 
1.3

2020
 
26.0

 
8.1

 
1.2

2021
 
26.9

 
8.4

 
1.1

2022
 
28.0

 
11.0

 
1.0

2023-2027
 
157.1

 
48.0

 
3.8