Financing Activities

9 Months Ended

Nov. 03, 2018

The following table shows the detail of debt repayments:



	39 Weeks Ended
	November 3, 2018		October 28, 2017
	(millions)
7.45% Senior debentures due 2017	$	—	$	300
6.9% Senior debentures due 2029	90		3
4.5% Senior notes due 2034	80		—
6.7% Senior notes due 2028	60		3
6.375% Senior notes due 2037	43		135
6.7% Senior debentures due 2034	28		28
7.0% Senior debentures due 2028	27		2
6.65% Senior debentures due 2024	11		4
6.9% Senior debentures due 2032	5		72
9.5% Amortizing debentures due 2021	4		4
9.75% Amortizing debentures due 2021	2		2
Capital leases and other obligations	1		1
	$	351	$	554

During the 39 weeks ended November 3, 2018, the Company repurchased $344 million face value of senior notes and debentures. The debt repurchases were made in the open market for a total cost of $354 million, including expenses and other fees related to the transactions. Such repurchases resulted in the recognition of expense of $5 million during the 39 weeks ended November 3, 2018 presented as losses on early retirement of debt on the Consolidated Statements of Income.

During the 39 weeks ended October 28, 2017, the Company repurchased $247 million face value of senior notes and debentures. The debt repurchases were made in the open market for a total cost of $257 million, including expenses and other fees related to the transactions. Such repurchases resulted in the recognition of expense of $1 million during the 39 weeks ended October 28, 2017 presented as losses on early retirement of debt on the Consolidated Statements of Income.

During the 39 weeks ended October 28, 2017, the Company also repaid, at maturity, $300 million of 7.45% Senior debentures due July 2017.

On November 28, 2018, the Company commenced a cash tender offer ("tender offer") to purchase up to $600 million in aggregate principal amount of certain senior unsecured notes and debentures, with stated interest rates ranging from 2.875% to 8.75% and maturities ranging from fiscal years 2023 to 2042. The tender offer expires on December 26, 2018, with an early tender date on December 11, 2018.