Condensed Consolidating Financial Information (Tables)

3 Months Ended

May 02, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Consolidating Balance Sheet [Table Text Block]

Condensed Consolidating Balance Sheet

As of May 3, 2014

(millions)

	Parent		Subsidiary Issuer		Other Subsidiaries		Consolidating Adjustments			Consolidated
ASSETS:
Current Assets:
Cash and cash equivalents	$	1,425	$	129	$	324	$	—		$	1,878
Receivables	—		58		217		—			275
Merchandise inventories	—		3,023		2,874		—			5,897
Prepaid expenses and other current assets	—		94		360		—			454
Income taxes	9		—		—		(9		)	—
Total Current Assets	1,434		3,304		3,775		(9		)	8,504
Property and Equipment – net	—		4,481		3,311		—			7,792
Goodwill	—		3,315		428		—			3,743
Other Intangible Assets – net	—		91		428		—			519
Other Assets	4		95		648		—			747
Deferred Income Taxes	20		—		—		(20		)	—
Intercompany Receivable	28		—		3,306		(3,334		)	—
Investment in Subsidiaries	4,687		3,225		—		(7,912		)	—
Total Assets	$	6,173	$	14,511	$	11,896	$	(11,275	)	$	21,305
LIABILITIES AND SHAREHOLDERS’ EQUITY:
Current Liabilities:
Short-term debt	$	—	$	6	$	2	$	—		$	8
Merchandise accounts payable	—		1,086		1,304		—			2,390
Accounts payable and accrued liabilities	7		980		1,233		—			2,220
Income taxes	—		36		78		(9		)	105
Deferred income taxes	—		301		80		—			381
Total Current Liabilities	7		2,409		2,697		(9		)	5,104
Long-Term Debt	—		7,141		21		—			7,162
Intercompany Payable	—		3,330		4		(3,334		)	—
Deferred Income Taxes	—		576		748		(20		)	1,304
Other Liabilities	66		489		1,080		—			1,635
Shareholders' Equity (Deficit)	6,100		566		7,346		(7,912		)	6,100
Total Liabilities and Shareholders' Equity	$	6,173	$	14,511	$	11,896	$	(11,275	)	$	21,305

Condensed Consolidating Balance Sheet

As of May 2, 2015

(millions)

	Parent		Subsidiary Issuer		Other Subsidiaries		Consolidating Adjustments			Consolidated
ASSETS:
Current Assets:
Cash and cash equivalents	$	1,078	$	115	$	316	$	—		$	1,509
Receivables	—		48		211		—			259
Merchandise inventories	—		3,029		3,026		—			6,055
Prepaid expenses and other current assets	—		101		370		—			471
Income taxes	43		—		—		(43		)	—
Total Current Assets	1,121		3,293		3,923		(43		)	8,294
Property and Equipment – net	—		4,250		3,462		—			7,712
Goodwill	—		3,315		582		—			3,897
Other Intangible Assets – net	—		68		463		—			531
Other Assets	1		75		665		—			741
Deferred Income Taxes	22		—		—		(22		)	—
Intercompany Receivable	—		—		3,588		(3,588		)	—
Investment in Subsidiaries	4,701		3,549		—		(8,250		)	—
Total Assets	$	5,845	$	14,550	$	12,683	$	(11,903	)	$	21,175
LIABILITIES AND SHAREHOLDERS’ EQUITY:
Current Liabilities:
Short-term debt	$	—	$	75	$	1	$	—		$	76
Merchandise accounts payable	—		1,207		1,305		—			2,512
Accounts payable and accrued liabilities	13		1,043		1,355		—			2,411
Income taxes	—		10		107		(43		)	74
Deferred income taxes	—		304		66		—			370
Total Current Liabilities	13		2,639		2,834		(43		)	5,443
Long-Term Debt	—		7,240		20		—			7,260
Intercompany Payable	564		3,024				(3,588		)	—
Deferred Income Taxes	—		440		668		(22		)	1,086
Other Liabilities	61		543		1,575		—			2,179
Shareholders' Equity	5,207		664		7,586		(8,250		)	5,207
Total Liabilities and Shareholders' Equity	$	5,845	$	14,550	$	12,683	$	(11,903	)	$	21,175

Condensed Consolidating Balance Sheet

As of January 31, 2015

(millions)

	Parent		Subsidiary Issuer		Other Subsidiaries		Consolidating Adjustments			Consolidated
ASSETS:
Current Assets:
Cash and cash equivalents	$	1,908	$	94	$	244	$	—		$	2,246
Receivables	—		97		327		—			424
Merchandise inventories	—		2,817		2,699		—			5,516
Prepaid expenses and other current assets	—		113		380		—			493
Income taxes	88		—		—		(88		)	—
Total Current Assets	1,996		3,121		3,650		(88		)	8,679
Property and Equipment – net	—		4,315		3,485		—			7,800
Goodwill	—		3,315		428		—			3,743
Other Intangible Assets – net	—		73		423		—			496
Other Assets	1		74		668		—			743
Deferred Income Taxes	10		—		—		(10		)	—
Intercompany Receivable	—		—		4,140		(4,140		)	—
Investment in Subsidiaries	4,655		3,526		—		(8,181		)	—
Total Assets	$	6,662	$	14,424	$	12,794	$	(12,419	)	$	21,461
LIABILITIES AND SHAREHOLDERS’ EQUITY:
Current Liabilities:
Short-term debt	$	—	$	75	$	1	$	—		$	76
Merchandise accounts payable	—		784		909		—			1,693
Accounts payable and accrued liabilities	42		1,360		1,707		—			3,109
Income taxes	—		22		362		(88		)	296
Deferred income taxes	—		295		67		—			362
Total Current Liabilities	42		2,536		3,046		(88		)	5,536
Long-Term Debt	—		7,245		20		—			7,265
Intercompany Payable	1,215		2,925		—		(4,140		)	—
Deferred Income Taxes	—		414		677		(10		)	1,081
Other Liabilities	27		593		1,581		—			2,201
Shareholders' Equity (Deficit)	5,378		711		7,470		(8,181		)	5,378
Total Liabilities and Shareholders' Equity	$	6,662	$	14,424	$	12,794	$	(12,419	)	$	21,461

Condensed Consolidating Statement of Comprehensive Income [Table Text Block]

Condensed Consolidating Statement of Comprehensive Income

For the 13 Weeks EndedMay 2, 2015

(millions)

	Parent			Subsidiary Issuer			Other Subsidiaries			Consolidating Adjustments			Consolidated
Net sales	$	—		$	2,776		$	5,691		$	(2,235	)	$	6,232
Cost of sales	—			(1,809		)	(4,226		)	2,235			(3,800		)
Gross margin	—			967			1,465			—			2,432
Selling, general and administrative expenses	(1		)	(980		)	(1,042		)	—			(2,023		)
Operating income (loss)	(1		)	(13		)	423			—			409
Interest (expense) income, net:
External	—			(95		)	—			—			(95		)
Intercompany	—			(58		)	58			—			—
Equity in earnings of subsidiaries	194			60			—			(254		)	—
Income (loss) before income taxes	193			(106		)	481			(254		)	314
Federal, state and local income tax benefit (expense)	—			37			(158		)	—			(121		)
Net income (loss)	$	193		$	(69	)	$	323		$	(254	)	$	193
Comprehensive income (loss)	$	201		$	(61	)	$	327		$	(266	)	$	201

Condensed Consolidating Statement of Comprehensive Income

For the 13 Weeks EndedMay 3, 2014

(millions)

	Parent			Subsidiary Issuer			Other Subsidiaries			Consolidating Adjustments			Consolidated
Net sales	$	—		$	2,918		$	5,457		$	(2,096	)	$	6,279
Cost of sales	—			(1,886		)	(4,046		)	2,096			(3,836		)
Gross margin	—			1,032			1,411			—			2,443
Selling, general and administrative expenses	(2		)	(1,008		)	(990		)	—			(2,000		)
Operating income (loss)	(2		)	24			421			—			443
Interest (expense) income, net:
External	—			(100		)	—			—			(100		)
Intercompany	—			(58		)	58			—			—
Equity in earnings of subsidiaries	225			66			—			(291		)	—
Income (loss) before income taxes	223			(68		)	479			(291		)	343
Federal, state and local income tax benefit (expense)	1			38			(158		)	—			(119		)
Net income (loss)	$	224		$	(30	)	$	321		$	(291	)	$	224
Comprehensive income (loss)	$	228		$	(26	)	$	323		$	(297	)	$	228

Condensed Consolidating Statement of Cash Flows [Table Text Block]

Condensed Consolidating Statement of Cash Flows

For the 13 Weeks EndedMay 2, 2015

(millions)

	Parent			Subsidiary Issuer			Other Subsidiaries			Consolidating Adjustments			Consolidated
Cash flows from operating activities:
Net income (loss)	$	193		$	(69	)	$	323		$	(254	)	$	193
Equity in earnings of subsidiaries	(194		)	(60		)	—			254			—
Dividends received from subsidiaries	191						—			(191		)	—
Depreciation and amortization	—			106			153			—			259
(Increase) decrease in working capital	43			16			(461		)	—			(402		)
Other, net	24			(6		)	(15		)	—			3
Net cash provided (used) by operating activities	257			(13		)	—			(191		)	53
Cash flows from investing activities:
Purchase of property and equipment and capitalized software, net	—			(69		)	(170		)	—			(239		)
Other, net	—			7			(149		)	—			(142		)
Net cash used by investing activities	—			(62		)	(319		)	—			(381		)
Cash flows from financing activities:
Debt repaid	—			(3		)	—			—			(3		)
Dividends paid	(106		)	—			(191		)	191			(106		)
Common stock acquired, net of issuance of common stock	(259		)	—			—			—			(259		)
Intercompany activity, net	(669		)	146			523			—			—
Other, net	(53		)	(47		)	59			—			(41		)
Net cash provided (used) by financing activities	(1,087		)	96			391			191			(409		)
Net increase (decrease) in cash and cash equivalents	(830		)	21			72			—			(737		)
Cash and cash equivalents at beginning of period	1,908			94			244			—			2,246
Cash and cash equivalents at end of period	$	1,078		$	115		$	316		$	—		$	1,509

Condensed Consolidating Statement of Cash Flows

For the 13 Weeks EndedMay 3, 2014

(millions)

	Parent			Subsidiary Issuer			Other Subsidiaries			Consolidating Adjustments			Consolidated
Cash flows from operating activities:
Net income (loss)	$	224		$	(30	)	$	321		$	(291	)	$	224
Equity in earnings of subsidiaries	(225		)	(66		)	—			291			—
Dividends received from subsidiaries	167			—			—			(167		)	—
Depreciation and amortization	—			113			140			—			253
(Increase) decrease in working capital	87			(6		)	(377		)	—			(296		)
Other, net	5			(15		)	3			—			(7		)
Net cash provided (used) by operating activities	258			(4		)	87			(167		)	174
Cash flows from investing activities:
Purchase of property and equipment and capitalized software, net	—			(46		)	(144		)	—			(190		)
Other, net	—			1			5			—			6
Net cash used by investing activities	—			(45		)	(139		)	—			(184		)
Cash flows from financing activities:
Debt repaid	—			(4		)	(1		)	—			(5		)
Dividends paid	(92		)	—			(167		)	167			(92		)
Common stock acquired, net of issuance of common stock	(277		)	—			—			—			(277		)
Intercompany activity, net	(370		)	121			249			—			—
Other, net	(49		)	(23		)	61			—			(11		)
Net cash provided (used) by financing activities	(788		)	94			142			167			(385		)
Net increase (decrease) in cash and cash equivalents	(530		)	45			90			—			(395		)
Cash and cash equivalents at beginning of period	1,955			84			234			—			2,273
Cash and cash equivalents at end of period	$	1,425		$	129		$	324		$	—		$	1,878