Leases (Tables)

9 Months Ended

Nov. 02, 2019

Leases [Abstract]

Lessee Lease [Table Text Block]

ROU assets and lease liabilities consist of:

		November 2, 2019
	Classification	(millions)
Assets
Finance lease assets (a)	Right of Use Assets	$	11
Operating lease assets (b)	Right of Use Assets	2,585
Total lease assets		$	2,596
Liabilities
Current
Finance	Accounts payable and accrued liabilities	$	1
Operating (b)	Accounts payable and accrued liabilities	313
Noncurrent
Finance	Long-Term Lease Liabilities	24
Operating (b)	Long-Term Lease Liabilities	2,795
Total lease liabilities		$	3,133

(a) Finance lease assets are recorded net of accumulated amortization of $12 million as of November 2, 2019.

Lease, Cost [Table Text Block]

The components of net lease expense are disclosed below. For the 13 and 39 weeks ended November 2, 2019, expense related to non-lease components was $20 million and $61 million, respectively, and variable lease expense was $3 million and $10 million, respectively.

		13 Weeks Ended			39 Weeks Ended
		November 2, 2019			November 2, 2019
	Classification	(millions)
Operating lease expense (c)	Selling, general and administrative expenses	$	106		$	319
Sublease income	Selling, general and administrative expenses	(1		)	(2		)
Net lease expense		$	105		$	317

(c) Certain supply chain operating lease expense amounts are included in cost of sales.

Finance Lease, Liability, Maturity [Table Text Block]

As of November 2, 2019, the maturity of lease liabilities is as follows:

 

	Finance Leases (d)		Operating Leases (e and f)		Total
	(millions)
Fiscal year
2019	$	1	$	90	$	91
2020	3		334		337
2021	3		335		338
2022	3		313		316
2023	3		308		311
After 2023	31		5,384		5,415
Total undiscounted lease payments	44		6,764		6,808
Less amount representing interest	19		3,656		3,675
Total lease liabilities	$	25	$	3,108	$	3,133

(d) Finance lease payments include $12 million related to options to extend lease terms that are reasonably certain of being exercised.

(e) Operating lease payments include $3,272 million related to options to extend lease terms that are reasonably certain of being exercised and exclude $965 million of legally binding minimum lease payments for leases signed but not yet commenced.

(f) Operating lease payments include $1,159 million related to non-lease component payments, with $841 million related to options to extend lease terms that are reasonably certain of being exercised.

Operating Lease Liability, Maturity [Table Text Block]

As of November 2, 2019, the maturity of lease liabilities is as follows:

 

	Finance Leases (d)		Operating Leases (e and f)		Total
	(millions)
Fiscal year
2019	$	1	$	90	$	91
2020	3		334		337
2021	3		335		338
2022	3		313		316
2023	3		308		311
After 2023	31		5,384		5,415
Total undiscounted lease payments	44		6,764		6,808
Less amount representing interest	19		3,656		3,675
Total lease liabilities	$	25	$	3,108	$	3,133

(d) Finance lease payments include $12 million related to options to extend lease terms that are reasonably certain of being exercised.

(e) Operating lease payments include $3,272 million related to options to extend lease terms that are reasonably certain of being exercised and exclude $965 million of legally binding minimum lease payments for leases signed but not yet commenced.

(f) Operating lease payments include $1,159 million related to non-lease component payments, with $841 million related to options to extend lease terms that are reasonably certain of being exercised.

Schedule of Supplemental Information for Lease Assumptions and Cash Flows [Table Text Block]

Additional supplemental information regarding assumptions and cash flows for operating and finance leases is as follows:

	November 2, 2019
Lease Term and Discount Rate	(millions)
Weighted-average remaining lease term (years)
Finance leases	17.9
Operating leases	23.6
Weighted-average discount rate
Finance leases	6.64	%
Operating leases	6.70	%

	39 Weeks Ended
	November 2, 2019
Other Information
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used from operating leases	$	272
Financing cash flows used from financing leases	2
Leased assets obtained in exchange for new operating lease liabilities	48

Prior Period Disclosure: Schedule of Future Minimum Payments for Capital and Operating Leases [Table Text Block]

As of February 2, 2019, as disclosed in the 2018 10-K, minimum rental commitments for noncancellable leases, including executed leases not yet commenced, were as follows:

	Capitalized Leases (g)		Operating Leases		Total
	(millions)
Fiscal year
2019	$	3	$	325	$	328
2020	3		315		318
2021	3		309		312
2022	3		283		286
2023	3		264		267
After 2023	31		2,758		2,789
Total minimum lease payments	46		$	4,254	$	4,300
Less amount representing interest	20
Present value of net minimum capitalized lease payments	$	26

(g) For purposes of the disclosure, capitalized lease is used interchangeably with finance lease.