Retirement Plans and Other Benefits (Tables)

12 Months Ended

Jan. 28, 2017

Defined Benefit Plan Disclosure [Line Items]

Changes in Benefit Obligations and Plan Assets, Funded Status, and Amounts Recognized in Consolidated Balance Sheets

The following tables set forth the plans’ changes in benefit obligations and plan assets, funded status, and amounts recognized in the Consolidated Balance Sheets, as of January 28, 2017 and January 30, 2016:

	Pension Benefits				Postretirement Benefits
	2016		2015		2016		2015
	($ in millions)
Change in benefit obligation
Benefit obligation at beginning of year	$	667	$	722	$	14	$	19
Service cost		16		17		—		—
Interest cost		26		24		1		1
Plan participants’ contributions		—		—		1		1
Actuarial loss (gain)		7		(39)		1		(5)
Foreign currency translation adjustments		4		(6)		—		—
Benefits paid		(54)		(51)		(2)		(2)
Benefit obligation at end of year	$	666	$	667	$	15	$	14
Change in plan assets
Fair value of plan assets at beginning of year	$	602	$	686
Actual return (loss) on plan assets		55		(34)
Employer contributions		40		8
Foreign currency translation adjustments		4		(7)
Benefits paid		(54)		(51)
Fair value of plan assets at end of year	$	647	$	602
Funded status	$	(19)	$	(65)	$	(15)	$	(14)
Amounts recognized on the balance sheet:
Other assets	$	10	$	8	$	—	$	—
Accrued and other liabilities		(3)		(4)		(1)		(1)
Other liabilities		(26)		(69)		(14)		(13)
	$	(19)	$	(65)	$	(15)	$	(14)
Amounts recognized in accumulated other
comprehensive loss, pre-tax:
Net loss (gain)	$	387	$	410	$	(7)	$	(10)
Prior service cost		1		1		—		—
	$	388	$	411	$	(7)	$	(10)

Information for Pension Plans with Accumulated Benefit Obligation in Excess of Plan Assets

As of January 28, 2017 and January 30, 2016, the Canadian qualified pension plan’s assets exceeded its accumulated benefit obligation. Information for those pension plans with an accumulated benefit obligation in excess of plan assets is as follows:

	2016		2015
	($ in millions)
Projected benefit obligation	$	617	$	617
Accumulated benefit obligation		617		617
Fair value of plan assets		589		544

Changes in Accumulated Other Comprehensive Loss (Pre-Tax)

The following tables set forth the changes in accumulated other comprehensive loss (pre-tax) at January 28, 2017:

	Pension		Postretirement
	Benefits		Benefits
	($ in millions)
Net actuarial loss (gain) at beginning of year	$	410	$	(10)
Amortization of net (loss) gain		(14)		2
(Gain) loss arising during the year		(11)		1
Foreign currency fluctuations		2		—
Net actuarial loss (gain) at end of year (1)	$	387	$	(7)
Net prior service cost at end of year (2)		1		—
Total amount recognized	$	388	$	(7)

(1) The amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost (income) during the next year are approximately $13 million and $(2) million related to the pension and postretirement plans, respectively.

(2) The net prior service cost did not change during the year and is not expected to change significantly during the next year.

Assumptions Used in the Calculation of Net Benefit Cost

Assumptions used in the calculation of net benefit cost include the discount rate selected and disclosed at the end of the previous year, as well as other assumptions detailed in the table below:

	Pension Benefits									Postretirement Benefits
	2016			2015			2014			2016			2015			2014
Discount rate		4.1	%		3.4	%		4.3	%		4.1	%		3.4	%		4.2	%
Rate of compensation increase		3.7	%		3.7	%		3.7	%
Expected long-term rate of return on assets		6.1	%		6.1	%		6.3	%

Net Benefit Expense (Income)

The components of net benefit expense (income) are:

	Pension Benefits						Postretirement Benefits
	2016		2015		2014		2016		2015		2014
	($ in millions)
Service cost	$	16	$	17	$	15	$	—	$	—	$	—
Interest cost		26		24		28		1		1		1
Expected return on plan assets		(37)		(39)		(38)		—		—		—
Amortization of net loss (gain)		14		14		15		(2)		(1)		(3)
Net benefit expense (income)	$	19	$	16	$	20	$	(1)	$	—	$	(2)

Assumed Health Care Cost Trend Rates Related to Measurement of SERP Medical Plan

The following initial and ultimate cost trend rate assumptions were used to determine the benefit obligations under the SERP Medical Plan:

	Medical Trend Rate						Dental Trend Rate
	2016		2015		2014		2016		2015		2014
Initial cost trend rate	7.0	%	7.0	%	7.0	%	5.0	%	5.0	%	5.0	%
Ultimate cost trend rate	5.0	%	5.0	%	5.0	%	5.0	%	5.0	%	5.0	%
Year that the ultimate cost trend rate is reached	2021		2021		2019		2017		2016		2015

The following initial and ultimate cost trend rate assumptions were used to determine the net periodic cost under the SERP Medical Plan:

	Medical Trend Rate						Dental Trend Rate
	2016		2015		2014		2016		2015		2014
Initial cost trend rate	7.0	%	7.0	%	7.0	%	5.0	%	5.0	%	5.0	%
Ultimate cost trend rate	5.0	%	5.0	%	5.0	%	5.0	%	5.0	%	5.0	%
Year that the ultimate cost trend rate is reached	2021		2019		2018		2016		2015		2014

Effect of One Percentage-Point Change in Assumed Health Care Cost Trend Rates

A one percentage-point change in the assumed health care cost trend rates would have the following effects on the SERP Medical Plan:

	1% Increase		1% (Decrease)
	($ in millions)
Effect on total service and interest cost components	$	—	$	—
Effect on accumulated postretirement benefit obligation		2		(2)

Estimated Future Benefit Payments

Estimated future benefit payments for each of the next five years and the five years thereafter are as follows:

	Pension		Postretirement
	Benefits		Benefits
	($ in millions)
2017	$	70	$	1
2018		53		1
2019		52		1
2020		51		1
2021		50		1
2022–2026		229		3

U.S. Qualified Pension Plan [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair Value of Pension Plan Assets

The fair values of the Company’s U.S. pension plan assets at January 28, 2017 and January 30, 2016 were as follows:

	Level 1		Level 2			Level 3		2016 Total		2015 Total*
		($ in millions)
Cash and cash equivalents	$	—	$	4		$	—	$	4	$	1
Equity securities:
U.S. large-cap (1)		—		103			—		103		93
U.S. mid-cap (1)		—		31			—		31		26
International (2)		—		70			—		70		61
Corporate stock (3)		27		—			—		27		27
Fixed-income securities:
Long duration corporate and government bonds (4)		—		231			—		231		217
Intermediate duration corporate and government bonds (5)		—		103			—		103		99
Other types of investments:
Real estate securities (6)		—		19			—		19		17
Insurance contracts		—		1			—		1		1
Other (7)		—		—			—		—		2
Total assets at fair value	$	27	$	562	—	$	—	$	589	$	544

*Each category of plan assets is classified within the same level of the fair value hierarchy for 2016 and 2015.

(1)	These categories consist of various managed funds that invest primarily in common stocks, as well as other equity securities and a combination of other funds.
(2)	This category comprises three managed funds that invest primarily in international common stocks, as well as other equity securities and a combination of other funds.
(3)	This category consists of the Company’s common stock.
(4)	This category consists of various fixed-income funds that invest primarily in long-term bonds, as well as a combination of other funds, that together are designed to exceed the performance of related long-term market indices.
(5)	This category consists of two fixed-income funds that invest primarily in intermediate duration bonds, as well as a combination of other funds, that together are designed to exceed the performance of related indices.
(6)	This category consists of one fund that invests in global real estate securities.
(7)	This category consists primarily of cash related to net pending trade purchases and sales.

Canadian Qualified Pension Plan [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair Value of Pension Plan Assets

The fair values of the Company’s Canadian pension plan assets at January 28, 2017 and January 30, 2016 were as follows:

	Level 1		Level 2		Level 3		2016 Total		2015 Total*
	($ in millions)
Cash and cash equivalents	$	—	$	1	$	—	$	1	$	2
Equity securities:
Canadian and international (1)		3		—		—		3		4
Fixed-income securities:
Cash matched bonds (2)		—		54		—		54		52
Total assets at fair value	$	3	$	55	$	—	$	58	$	58

*Each category of plan assets is classified within the same level of the fair value hierarchy for 2016 and 2015.

(1)	This category comprises one mutual fund that invests primarily in a diverse portfolio of Canadian securities.
(2)	This category consists of fixed-income securities, including strips and coupons, issued or guaranteed by the Government of Canada, provinces or municipalities of Canada including their agencies and crown corporations, as well as other governmental bonds and corporate bonds.

Benefit Obligations [Member]

Defined Benefit Plan Disclosure [Line Items]

Assumptions Used in the Calculation of Net Benefit Cost

The following weighted-average assumptions were used to determine the benefit obligations under the plans:

	Pension Benefits						Postretirement Benefits
	2016			2015			2016			2015
Discount rate		4.0	%		4.1	%		4.0	%		4.1	%
Rate of compensation increase		3.7	%		3.7	%