Financing (Tables)

12 Months Ended

Jan. 28, 2012

Debt Disclosure [Abstract]

Schedule of Company Debt

The Company’s debt is as follows:

	January 28, 2012		January 29, 2011
	(millions)
Short-term debt:
5.35% Senior notes due 2012	$	616	$	—
5.875% Senior notes due 2013	298		—
8.0% Senior debentures due 2012	173		—
6.625% Senior notes due 2011	—		330
7.45% Senior debentures due 2011	—		109
Capital lease and current portion of other long-term obligations	16		15
	$	1,103	$	454
Long-term debt:
5.9% Senior notes due 2016	$	977	$	977
7.875% Senior notes due 2015 *	612		612
3.875% Senior notes due 2022	550		—
6.375% Senior notes due 2037	500		500
5.75% Senior notes due 2014	453		453
6.9% Senior debentures due 2029	400		400
6.7% Senior debentures due 2034	400		400
7.45% Senior debentures due 2017	300		300
6.65% Senior debentures due 2024	300		300
7.0% Senior debentures due 2028	300		300
6.9% Senior debentures due 2032	250		250
5.125% Senior debentures due 2042	250		—
6.7% Senior debentures due 2028	200		200
6.79% Senior debentures due 2027	165		165
7.45% Senior debentures due 2016	123		123
7.625% Senior debentures due 2013	109		109
7.875% Senior debentures due 2036	108		108
7.5% Senior debentures due 2015	100		100
8.125% Senior debentures due 2035	76		76
8.75% Senior debentures due 2029	61		61
8.5% Senior debentures due 2019	36		36
9.5% amortizing debentures due 2021	33		37
10.25% Senior debentures due 2021	33		33
7.6% Senior debentures due 2025	24		24
9.75% amortizing debentures due 2021	18		20
7.875% Senior debentures due 2030	18		18
5.35% Senior notes due 2012	—		616
5.875% Senior notes due 2013	—		298
8.0% Senior debentures due 2012	—		173
Premium on acquired debt, using an effective    interest yield of 5.017% to 6.165%	216		239
Capital lease and other long-term obligations	43		43
	$	6,655	$	6,971

 ________________

* The rate of interest payable in respect of these senior notes was increased by one percent per annum to 8.875% in April 2009 as a result of a downgrade of the notes by specified rating agencies, was decreased by 0.50 percent per annum to 8.375% effective in May 2010 as a result of an upgrade of the notes by specified rating agencies, was decreased by 0.25 percent per annum to 8.125% effective in May 2011 as a result of an upgrade of the notes by specified rating agencies, and was decreased by 0.25 percent per annum to 7.875%, its stated interest rate, effective in January 2012 as a result of an upgrade of the notes by specified rating agencies. The rate of interest payable in respect of these senior notes could increase by up to 2.0% per annum from its current level in the event of one or more downgrades of the notes by specified rating agencies.

Schedule of Interest Expense

Interest expense is as follows:

	2011			2010			2009
	(millions)
Interest on debt	$	467		$	535		$	587
Premium on early retirement of long-term debt	—			66			—
Amortization of debt premium	(23		)	(31		)	(33		)
Amortization of financing costs	8			11			10
Interest on capitalized leases	3			3			3
	455			584			567
Less interest capitalized on construction	8			5			5
	$	447		$	579		$	562

Future Maturities of Long-term Debt

Future maturities of long-term debt, other than capitalized leases and premium on acquired debt, are shown below:

	(millions)
Fiscal year:
2013	$	121
2014	461
2015	718
2016	1,105
2017	306
After 2017	3,693

Detail of Debt Repayments

The following table shows the detail of debt repayments:

	2011		2010		2009
	(millions)
6.625% Senior notes due 2011	$	330	$	170	$	—
7.45% Senior debentures due 2011	109		41		—
5.35% Senior notes due 2012	—		484		—
8.0% Senior debentures due 2012	—		27		—
5.875% Senior notes due 2013	—		52		—
7.625% Senior debentures due 2013	—		16		—
5.75% Senior notes due 2014	—		47		—
7.875% Senior notes due 2015	—		38		—
5.90% Senior notes due 2016	—		123		—
7.45% Senior debentures due 2016	—		2		—
10.625% Senior debentures due 2010	—		150		—
8.5% Senior notes due 2010	—		76		—
4.8% Senior notes due 2009	—		—		600
6.3% Senior notes due 2009	—		—		350
9.5% amortizing debentures due 2021	4		4		4
9.75% amortizing debentures due 2021	2		2		2
Capital leases and other obligations	9		13		10
	$	454	$	1,245	$	966