Retirement Plans and Other Benefits (Tables)

12 Months Ended

Feb. 01, 2020

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:Pension Benefits

Retirement Plans Amounts recognized in accumulated other comprehensive loss, pre-tax [Table Text Block]

	Pension Benefits				Postretirement Benefits
	2019		2018		2019		2018
Amounts recognized in accumulated other
comprehensive loss, pre-tax:
Net loss (gain)	$	392	$	391	$	(5)	$	(6)
Prior service cost		—		1		—		—
	$	392	$	392	$	(5)	$	(6)

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

Accordingly, the table below reflects both the U.S. qualified plan and the non-qualified plans for both 2019 and 2018.2019

Changes in Accumulated Other Comprehensive Loss (Pre-Tax)

The following tables set forth the changes in AOCL (pre-tax) at February 1, 2020:

Pension

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
	2019		2018		2017		2019		2018		2017
Discount rate (1)	4.0	%	4.0	%	4.0	%	4.1	%	3.7	%	4.0	%
Rate of compensation increase	3.6	%	3.6	%	3.6	%
Expected long-term rate of return on assets	5.8	%	5.9	%	5.8	%

(1) The U.S qualified pension plan was remeasured during the second quarter of 2018 in connection with the pension litigation. The discount rate used to determine the benefit obligation in 2018 before the remeasurement was 3.7%.

Net Benefit Expense (Income)

The following are the components of net periodic pension benefit cost and net periodic postretirement benefit income.

	Pension Benefits						Postretirement Benefits
	2019		2018		2017		2019		2018		2017
Service cost	$	20	$	18	$	17	$	—	$	—	$	—
Interest cost		27		29		25		—		—		1
Expected return on plan assets		(37)		(38)		(37)		—		—		—
Amortization of net loss (gain)		12		12		13		(1)		(1)		(2)
Net benefit expense (income)	$	22	$	21	$	18	$	(1)	$	(1)	$	(1)

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
	2019		2018		2017		2019		2018		2017
Initial cost trend rate	6.5	%	6.5	%	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	2025		2025		2025		2020		2019		2018

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
	2019		2018		2017		2019		2018		2017
Initial cost trend rate	6.5	%	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	2025		2025		2021		2019		2018		2017

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	$	1	$	—
Effect on accumulated postretirement benefit obligation		2		(1)

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)
2020	$	103	$	1
2021		52		1
2022		52		1
2023		49		—
2024		46		—
2025-2029		211		2

United States

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 February 1, 2020 and February 2, 2019 were as follows:

	Level 1		Level 2		Level 3		2019 Total		2018 Total*
	($ in millions)
Cash equivalents	$	—	$	3	$	—	$	3	$	3
Equity securities:
U.S. large-cap (1)		—		116		—		116		106
U.S. mid-cap (1)		—		34		—		34		32
International (2)		—		78		—		78		72
Corporate stock (3)		15		—		—		15		22
Fixed-income securities:
Long duration corporate and government bonds (4)		—		273		—		273		234
Intermediate duration corporate and government bonds (5)		—		121		—		121		104
Other types of investments:
Real estate securities (6)		—		23		—		23		20
Insurance contracts		—		1		—		1		—
Total assets at fair value	$	15	$	649	$	—	$	664	$	593

* Each category of plan assets is classified within the same level of the fair value hierarchy for 2019 and 2018.

(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.

CANADA

Defined Benefit Plan Disclosure [Line Items]

Fair Value of Pension Plan Assets

The fair values of the Canadian pension plan assets at February 1, 2020 and February 2, 2019 were as follows:

	Level 1		Level 2		Level 3		2019 Total		2018 Total*
	($ in millions)
Cash equivalents	$	—	$	1	$	—	$	1	$	1
Equity securities:
Canadian and international (1)		2		—		—		2		3
Fixed-income securities:
Cash matched bonds (2)		—		48		—		48		47
Total assets at fair value	$	2	$	49	$	—	$	51	$	51

* Each category of plan assets is classified within the same level of the fair value hierarchy for 2019 and 2018.

(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
	2019		2018		2019		2018
Discount rate	2.9	%	4.0	%	3.0	%	4.1	%
Rate of compensation increase	3.6	%	3.6	%