Financing (Tables)

12 Months Ended

Feb. 01, 2020

Debt Disclosure [Abstract]

Schedule of Company Debt

The Company’s debt is as follows:

 

	February 1, 2020			February 2, 2019
	(millions)
Short-term debt:
8.5% Senior debentures due 2019	$	—		$	36
3.45% Senior notes due 2021	500			—
10.25% Senior debentures due 2021	33			—
Capital lease and current portion of other long-term obligations (a)	6			7
	$	539		$	43
Long-term debt:
2.875% Senior notes due 2023	$	640		$	750
3.875% Senior notes due 2022	450			550
4.5% Senior notes due 2034	367			367
3.45% Senior notes due 2021	—			500
3.625% Senior notes due 2024	500			500
4.375% Senior notes due 2023	210			400
5.125% Senior debentures due 2042	250			250
4.3% Senior notes due 2043	250			250
6.7% Senior debentures due 2034	201			201
6.9% Senior debentures due 2029	79			192
6.375% Senior notes due 2037	192			192
6.65% Senior debentures due 2024	122			122
7.0% Senior debentures due 2028	105			117
6.7% Senior debentures due 2028	103			103
6.79% Senior debentures due 2027	71			71
6.9% Senior debentures due 2032	17			17
10.25% Senior debentures due 2021	—			33
7.6% Senior debentures due 2025	24			24
8.75% Senior debentures due 2029	13			13
7.875% Senior debentures due 2030	10			10
9.5% amortizing debentures due 2021	2			6
9.75% amortizing debentures due 2021	1			3
Unamortized debt issue costs	(13		)	(18		)
Unamortized debt discount	(7		)	(9		)
Premium on acquired debt, using an effective interest yield of 5.542% to 7.144%	34			39
Capital lease and other long-term obligations (a)	—			25
	$	3,621		$	4,708

(a) As a result of the adoption of ASU 2016-02 on February 3, 2019, capital, or finance, leases were reclassed to lease liabilities within accounts payable and accrued liabilities and long-term lease liabilities on the Consolidated Balance Sheet. See Note 4 for information on leases.

Schedule of Interest Expense and Losses (Gains) on Early Retirement of Debt

Interest expense and losses (gains) on early retirement of debt are as follows:

	2019			2018			2017
	(millions)
Interest on debt	$	211		$	269		$	332
Amortization of debt premium	(5		)	(7		)	(9		)
Amortization of financing costs and debt discount	6			7			7
Interest on capitalized leases	2			2			2
	214			271			332
Less interest capitalized on construction	9			10			11
Interest expense	$	205		$	261		$	321
Losses (gains) on early retirement of debt	$	30		$	33		$	(10	)

Future Maturities of Long-term Debt

Future maturities of long-term debt are shown below:

	(millions)
Fiscal year
2021	$	453
2022	—
2023	850
2024	622
2025	24
After 2025	1,658

Detail of Debt Repayments

The following table shows the detail of debt repayments:

	2019		2018		2017
	(millions)
6.9% Senior debentures due 2029	$	113	$	204	$	3
4.5% Senior notes due 2034	—		183		—
7.0% Senior debentures due 2028	12		182		2
4.375% Senior notes due 2023	190		—		—
3.875% Senior notes due 2022	100		—		—
2.875% Senior notes due 2023	110		—		—
6.65% Senior debentures due 2024	—		175		4
7.45% Senior debentures due 2017	—		—		300
6.7% Senior debentures due 2028	—		94		3
6.79% Senior debentures due 2027	—		94		—
6.375% Senior notes due 2037	—		77		231
6.7% Senior debentures due 2034	—		63		136
6.9% Senior debentures due 2032	—		15		219
8.75% Senior debentures due 2029	—		5		43
7.875% Senior debentures due 2030	—		2		6
8.5% Senior debentures due 2019	36		—		—
9.5% amortizing debentures due 2021	4		4		4
9.75% amortizing debentures due 2021	2		2		2
Capital leases and other obligations (a)	—		1		1
	$	567	$	1,101	$	954