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Postretirement Health Care and Life Insurance Benefits (Tables) (Postretirement Benefit Plans [Member])
12 Months Ended
Feb. 02, 2013
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 February 2, 2013 and January 28, 2012:
 
 
2012
 
2011
 
(millions)
Change in accumulated postretirement benefit obligation
 
 
 
Accumulated postretirement benefit obligation, beginning of year
$
266

 
$
278

Service cost

 

Interest cost
12

 
14

Actuarial gain
(4
)
 
(3
)
Medicare Part D subsidy
1

 
2

Benefits paid
(25
)
 
(25
)
Accumulated postretirement benefit obligation, end of year
250

 
266

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
$
(250
)
 
$
(266
)
Amounts recognized in the Consolidated Balance Sheets at
February 2, 2013 and January 28, 2012
 
 
 
Accounts payable and accrued liabilities
$
(28
)
 
$
(29
)
Other liabilities
(222
)
 
(237
)
 
$
(250
)
 
$
(266
)
Amounts recognized in accumulated other comprehensive loss at
February 2, 2013 and January 28, 2012
 
 
 
Net actuarial gain
$
(23
)
 
$
(23
)
Schedule of Net Periodic Benefit Costs
Net postretirement benefit costs and other amounts recognized in other comprehensive loss included the following actuarially determined components:
 
 
2012
 
2011
 
2010
 
(millions)
Net Periodic Postretirement Benefit Cost
 
 
 
 
 
Service cost
$

 
$

 
$

Interest cost
12

 
14

 
15

Amortization of net actuarial gain
(4
)
 
(5
)
 
(5
)
Amortization of prior service cost

 

 

 
8

 
9

 
10

Other Changes in Plan Assets and Projected Benefit Obligation
Recognized in Other Comprehensive Loss
 
 
 
 
 
Net actuarial (gain) loss
(4
)
 
(3
)
 
8

Amortization of net actuarial gain
4

 
5

 
5

Amortization of prior service cost

 

 

 

 
2

 
13

Total recognized in net periodic postretirement benefit cost and other
   comprehensive loss
$
8

 
$
11

 
$
23


Weighted Average Assumptions
The following weighted average assumptions were used to determine the accumulated postretirement benefit obligations at February 2, 2013 and January 28, 2012:
 
 
2012
 
2011
Discount rate
4.15
%
 
4.65
%
The following weighted average assumptions were used to determine the net postretirement benefit costs for the postretirement obligations:
 
 
2012
 
2011
 
2010
Discount rate
4.65
%
 
5.40
%
 
5.65
%
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 February 2, 2013 and January 28, 2012:
 
 
2012
 
2011
Health care cost trend rates assumed for next year
7.52% - 9.50%
 
8.08% - 9.62%
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
2025
 
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
 
 
 
2013
$
27

 
$
1

2014
25

 
1

2015
22

 
1

2016
21

 
1

2017
19

 
1

2018-2022
86

 
4