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Postretirement Health Care and Life Insurance Benefits (Tables) (Postretirement Benefit Plans [Member])
12 Months Ended
Jan. 28, 2012
Postretirement Benefit Plans [Member]
 
Reconciliation of Benefit Obligations, Plan Assets, and Funded Status Pension Plan
The following provides a reconciliation of benefit obligations, plan assets, and funded status of the postretirement obligations as of January 28, 2012 and January 29, 2011:
 
 
2011
 
2010
 
(millions)
Change in accumulated postretirement benefit obligation
 
 
 
Accumulated postretirement benefit obligation, beginning of year
$
278

 
$
278

Service cost

 

Interest cost
14

 
15

Actuarial (gain) loss
(3
)
 
8

Medicare Part D subsidy
2

 
2

Benefits paid
(25
)
 
(25
)
Accumulated postretirement benefit obligation, end of year
$
266

 
$
278

Change in plan assets
 
 
 
Fair value of plan assets, beginning of year
$

 
$

Company contributions
25

 
25

Benefits paid
(25
)
 
(25
)
Fair value of plan assets, end of year
$

 
$

Funded status at end of year
$
(266
)
 
$
(278
)
Amounts recognized in the Consolidated Balance Sheets at
January 28, 2012 and January 29, 2011
 
 
 
Accounts payable and accrued liabilities
$
(29
)
 
$
(30
)
Other liabilities
(237
)
 
(248
)
 
$
(266
)
 
$
(278
)
Amounts recognized in accumulated other comprehensive (income) loss at January 28, 2012 and January 29, 2011
 
 
 
Net actuarial gain
$
(23
)
 
$
(25
)
Schedule of Net Periodic Benefit Costs
Net postretirement benefit costs and other amounts recognized in other comprehensive income included the following actuarially determined components:
 
 
2011
 
2010
 
2009
 
(millions)
Net Periodic Postretirement Benefit Cost
 
 
 
 
 
Service cost
$

 
$

 
$

Interest cost
14

 
15

 
19

Amortization of net actuarial gain
(5
)
 
(5
)
 
(7
)
Amortization of prior service credit

 

 

 
9

 
10

 
12

Other Changes in Plan Assets and Projected Benefit Obligation
 
 
 
 
 
Recognized in Other Comprehensive Income
 
 
 
 
 
Net actuarial (gain) loss
(3
)
 
8

 
8

Amortization of net actuarial gain
5

 
5

 
7

Amortization of prior service credit

 

 

 
2

 
13

 
15

Total recognized in net periodic postretirement benefit cost and other
   comprehensive income
$
11

 
$
23

 
$
27


Weighted Average Assumption To Determine Projected Benefit Obligations
The following weighted average assumptions were used to determine the accumulated postretirement benefit obligations at January 28, 2012 and January 29, 2011:
 
 
2011
 
2010
Discount rate
4.65
%
 
5.40
%
Schedule of Assumptions Used to Determine Net Periodic Costs
The following weighted average assumptions were used to determine the net postretirement benefit costs for the postretirement obligations:
 
 
2011
 
2010
 
2009
Discount rate
5.40
%
 
5.65
%
 
7.45
%
Schedule of Health Care Cost Trend Rates
The following provides the assumed health care cost trend rates related to the Company’s accumulated postretirement benefit obligations at January 28, 2012 and January 29, 2011:
 
 
2011
 
2010
Health care cost trend rates assumed for next year
8.08% - 9.62%
 
8.38% – 10.08%
Rates to which the cost trend rate is assumed to decline (the ultimate trend rate)
5.0%
 
5.0%
Year that the rate reaches the ultimate trend rate
2022
 
2022
Schedule Of Effect Of One Percentage Point Change In Assumed Health Care Cost Trend Rates
A one-percentage-point change in the assumed health care cost trend rates would have the following effects:
 
 
1 – Percentage
Point Increase
 
1 – Percentage
Point Decrease
 
(millions)
Effect on total of service and interest cost
$1
 
$(1)
Effect on accumulated postretirement benefit obligations
$15
 
$(13)
Estimated Future Benefit Payments
The following table reflects the benefit payments estimated to be funded by the Company and paid from the accumulated postretirement benefit obligations and estimated federal subsidies expected to be received under the Medicare Prescription Drug Improvement and Modernization Act of 2003:
 
 
Expected
Benefit
Payments
 
Expected
Federal
Subsidy
 
(millions)
Fiscal Year:
 
 
 
2012
$
28

 
$
1

2013
27

 
1

2014
25

 
1

2015
22

 
1

2016
21

 
1

2017-2021
95

 
4