Condensed Consolidating Financial Information (Tables)

6 Months Ended

Aug. 01, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Consolidating Balance Sheet [Table Text Block]

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	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 Balance Sheet

As of August 2, 2014

(millions)

	Parent		Subsidiary Issuer		Other Subsidiaries		Consolidating Adjustments			Consolidated
ASSETS:
Current Assets:
Cash and cash equivalents	$	1,287	$	85	$	258	$	—		$	1,630
Receivables	—		91		261		—			352
Merchandise inventories	—		2,799		2,617		—			5,416
Prepaid expenses and other current assets	6		94		299		—			399
Income taxes	34		—		—		(34		)	—
Total Current Assets	1,327		3,069		3,435		(34		)	7,797
Property and Equipment – net	—		4,438		3,333		—			7,771
Goodwill	—		3,315		428		—			3,743
Other Intangible Assets – net	—		85		427		—			512
Other Assets	4		110		669		—			783
Deferred Income Taxes	20		—		—		(20		)	—
Intercompany Receivable	—		—		3,412		(3,412		)	—
Investment in Subsidiaries	4,832		3,340		—		(8,172		)	—
Total Assets	$	6,183	$	14,357	$	11,704	$	(11,638	)	$	20,606
LIABILITIES AND SHAREHOLDERS’ EQUITY:
Current Liabilities:
Short-term debt	$	—	$	481	$	2	$	—		$	483
Merchandise accounts payable	—		926		1,064		—			1,990
Accounts payable and accrued liabilities	122		951		1,077		—			2,150
Income taxes	—		45		109		(34		)	120
Deferred income taxes	—		305		88		—			393
Total Current Liabilities	122		2,708		2,340		(34		)	5,136
Long-Term Debt	—		6,709		20		—			6,729
Intercompany Payable	188		3,224		—		(3,412		)	—
Deferred Income Taxes	—		568		739		(20		)	1,287
Other Liabilities	66		482		1,099		—			1,647
Shareholders' Equity	5,807		666		7,506		(8,172		)	5,807
Total Liabilities and Shareholders' Equity	$	6,183	$	14,357	$	11,704	$	(11,638	)	$	20,606

Condensed Consolidating Balance Sheet

As of August 1, 2015

(millions)

	Parent		Subsidiary Issuer		Other Subsidiaries		Consolidating Adjustments			Consolidated
ASSETS:
Current Assets:
Cash and cash equivalents	$	511	$	76	$	256	$	—		$	843
Receivables	—		85		249		—			334
Merchandise inventories	—		2,780		2,842		—			5,622
Prepaid expenses and other current assets	—		104		333		—			437
Income taxes	98		—		—		(98		)	—
Total Current Assets	609		3,045		3,680		(98		)	7,236
Property and Equipment – net	—		4,230		3,474		—			7,704
Goodwill	—		3,315		582		—			3,897
Other Intangible Assets – net	—		62		461		—			523
Other Assets	2		74		680		—			756
Deferred Income Taxes	24		—		—		(24		)	—
Intercompany Receivable	—		—		3,634		(3,634		)	—
Investment in Subsidiaries	4,779		3,640		—		(8,419		)	—
Total Assets	$	5,414	$	14,366	$	12,511	$	(12,175	)	$	20,116
LIABILITIES AND SHAREHOLDERS’ EQUITY:
Current Liabilities:
Short-term debt	$	—	$	82	$	1	$	—		$	83
Merchandise accounts payable	—		997		1,070		—			2,067
Accounts payable and accrued liabilities	23		981		1,274		—			2,278
Income taxes	—		10		152		(98		)	64
Deferred income taxes	—		301		66		—			367
Total Current Liabilities	23		2,371		2,563		(98		)	4,859
Long-Term Debt	—		7,162		19		—			7,181
Intercompany Payable	483		3,151		—		(3,634		)	—
Deferred Income Taxes	—		435		671		(24		)	1,082
Other Liabilities	64		551		1,535		—			2,150
Shareholders' Equity	4,844		696		7,723		(8,419		)	4,844
Total Liabilities and Shareholders' Equity	$	5,414	$	14,366	$	12,511	$	(12,175	)	$	20,116

Condensed Consolidating Statement of Comprehensive Income [Table Text Block]

Condensed Consolidating Statement of Comprehensive Income

For the 13 Weeks EndedAugust 2, 2014

(millions)

	Parent			Subsidiary Issuer			Other Subsidiaries			Consolidating Adjustments			Consolidated
Net sales	$	—		$	2,961		$	4,994		$	(1,688	)	$	6,267
Cost of sales	—			(1,778		)	(3,582		)	1,688			(3,672		)
Gross margin	—			1,183			1,412			—			2,595
Selling, general and administrative expenses	(2		)	(1,044		)	(978		)	—			(2,024		)
Operating income (loss)	(2		)	139			434			—			571
Interest (expense) income, net:
External	—			(100		)	—			—			(100		)
Intercompany	—			(58		)	58			—			—
Equity in earnings of subsidiaries	293			113			—			(406		)	—
Income before income taxes	291			94			492			(406		)	471
Federal, state and local income tax benefit (expense)	1			3			(183		)	—			(179		)
Net income	$	292		$	97		$	309		$	(406	)	$	292
Comprehensive income	$	296		$	101		$	311		$	(412	)	$	296

Condensed Consolidating Statement of Comprehensive Income

For the 26 Weeks EndedAugust 2, 2014

(millions)

	Parent			Subsidiary Issuer			Other Subsidiaries			Consolidating Adjustments			Consolidated
Net sales	$	—		$	5,879		$	10,451		$	(3,784	)	$	12,546
Cost of sales	—			(3,664		)	(7,628		)	3,784			(7,508		)
Gross margin	—			2,215			2,823			—			5,038
Selling, general and administrative expenses	(4		)	(2,052		)	(1,968		)	—			(4,024		)
Operating income (loss)	(4		)	163			855			—			1,014
Interest (expense) income, net:
External	—			(200		)	—			—			(200		)
Intercompany	—			(116		)	116			—			—
Equity in earnings of subsidiaries	518			179			—			(697		)	—
Income before income taxes	514			26			971			(697		)	814
Federal, state and local income tax benefit (expense)	2			41			(341		)	—			(298		)
Net income	$	516		$	67		$	630		$	(697	)	$	516
Comprehensive income	$	524		$	75		$	634		$	(709	)	$	524

Condensed Consolidating Statement of Comprehensive Income

For the 13 Weeks EndedAugust 1, 2015

(millions)

	Parent		Subsidiary Issuer			Other Subsidiaries			Consolidating Adjustments			Consolidated
Net sales	$	—	$	2,761		$	5,049		$	(1,706	)	$	6,104
Cost of sales	—		(1,688		)	(3,628		)	1,706			(3,610		)
Gross margin	—		1,073			1,421			—			2,494
Selling, general and administrative expenses	—		(1,025		)	(1,033		)	—			(2,058		)
Operating income	—		48			388			—			436
Interest (expense) income, net:
External	—		(93		)	—			—			(93		)
Intercompany	—		(57		)	57			—			—
Equity in earnings of subsidiaries	217		86			—			(303		)	—
Income (loss) before income taxes	217		(16		)	445			(303		)	343
Federal, state and local income tax benefit (expense)	—		42			(168		)	—			(126		)
Net income	$	217	$	26		$	277		$	(303	)	$	217
Comprehensive income	$	224	$	33		$	282		$	(315	)	$	224

Condensed Consolidating Statement of Comprehensive Income

For the 26 Weeks EndedAugust 1, 2015

(millions)

	Parent			Subsidiary Issuer			Other Subsidiaries			Consolidating Adjustments			Consolidated
Net sales	$	—		$	5,537		$	10,740		$	(3,941	)	$	12,336
Cost of sales	—			(3,497		)	(7,854		)	3,941			(7,410		)
Gross margin	—			2,040			2,886			—			4,926
Selling, general and administrative expenses	(1		)	(2,005		)	(2,075		)	—			(4,081		)
Operating income (loss)	(1		)	35			811			—			845
Interest (expense) income, net:
External	—			(188		)	—			—			(188		)
Intercompany	—			(115		)	115			—			—
Equity in earnings of subsidiaries	411			146			—			(557		)	—
Income (loss) before income taxes	410			(122		)	926			(557		)	657
Federal, state and local income tax benefit (expense)	—			79			(326		)	—			(247		)
Net income (loss)	$	410		$	(43	)	$	600		$	(557	)	$	410
Comprehensive income (loss)	$	425		$	(28	)	$	609		$	(581	)	$	425

Condensed Consolidating Statement of Cash Flows [Table Text Block]

Condensed Consolidating Statement of Cash Flows

For the 26 Weeks EndedAugust 1, 2015

(millions)

	Parent			Subsidiary Issuer			Other Subsidiaries			Consolidating Adjustments			Consolidated
Cash flows from operating activities:
Net income (loss)	$	410		$	(43	)	$	600		$	(557	)	$	410
Equity in earnings of subsidiaries	(411		)	(146		)	—			557			—
Dividends received from subsidiaries	337			—			—			(337		)	—
Depreciation and amortization	—			214			306			—			520
Increase in working capital	(11		)	(17		)	(503		)	—			(531		)
Other, net	24			2			(27		)	—			(1		)
Net cash provided by operating activities	349			10			376			(337		)	398
Cash flows from investing activities:
Purchase of property and equipment and capitalized software, net	—			(158		)	(349		)	—			(507		)
Other, net	—			9			(117		)	—			(108		)
Net cash used by investing activities	—			(149		)	(466		)	—			(615		)
Cash flows from financing activities:
Debt repaid	—			(72		)	—			—			(72		)
Dividends paid	(227		)	—			(337		)	337			(227		)
Common stock acquired, net of issuance of common stock	(751		)	—			—			—			(751		)
Intercompany activity, net	(722		)	262			460			—			—
Other, net	(46		)	(69		)	(21		)	—			(136		)
Net cash provided (used) by financing activities	(1,746		)	121			102			337			(1,186		)
Net increase (decrease) in cash and cash equivalents	(1,397		)	(18		)	12			—			(1,403		)
Cash and cash equivalents at beginning of period	1,908			94			244			—			2,246
Cash and cash equivalents at end of period	$	511		$	76		$	256		$	—		$	843

Condensed Consolidating Statement of Cash Flows

For the 26 Weeks EndedAugust 2, 2014

(millions)

	Parent			Subsidiary Issuer			Other Subsidiaries			Consolidating Adjustments			Consolidated
Cash flows from operating activities:
Net income	$	516		$	67		$	630		$	(697	)	$	516
Equity in earnings of subsidiaries	(518		)	(179		)	—			697			—
Dividends received from subsidiaries	319			—			—			(319		)	—
Depreciation and amortization	—			225			282			—			507
(Increase) decrease in working capital	55			8			(347		)	—			(284		)
Other, net	6			(27		)	18			—			(3		)
Net cash provided by operating activities	378			94			583			(319		)	736
Cash flows from investing activities:
Purchase of property and equipment and capitalized software, net	—			(117		)	(310		)	—			(427		)
Other, net	—			6			43			—			49
Net cash used by investing activities	—			(111		)	(267		)	—			(378		)
Cash flows from financing activities:
Debt issued, net of debt repaid	—			42			(1		)	—			41
Dividends paid	(204		)	—			(319		)	319			(204		)
Common stock acquired, net of issuance of common stock	(773		)	—			—			—			(773		)
Intercompany activity, net	(137		)	8			129			—			—
Other, net	68			(32		)	(101		)	—			(65		)
Net cash provided (used) by financing activities	(1,046		)	18			(292		)	319			(1,001		)
Net increase (decrease) in cash and cash equivalents	(668		)	1			24			—			(643		)
Cash and cash equivalents at beginning of period	1,955			84			234			—			2,273
Cash and cash equivalents at end of period	$	1,287		$	85		$	258		$	—		$	1,630