Fair value measurements (Tables)

9 Months Ended

Oct. 28, 2017

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The tables below present our assets and liabilities measured at fair value on a recurring basis as of October 28, 2017, January 28, 2017 and October 29, 2016, aggregated by level in the fair value hierarchy within which those measurements fall.



(In millions)	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance at October 28, 2017
Assets
Derivative financial instruments:
Interest rate contracts	$	—	$	—	$	—	$	—
Foreign exchange contracts	—		1		—		1
Total assets	$	—	$	1	$	—	$	1
Liabilities
Derivative financial instruments:
Foreign exchange contracts	$	—	$	4	$	—	$	4
Total liabilities	$	—	$	4	$	—	$	4



(In millions)	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance at January 28, 2017
Assets
Derivative financial instruments:
Interest rate contracts	$	—	$	1	$	—	$	1
Foreign exchange contracts	—		7		—		7
Total assets	$	—	$	8	$	—	$	8
Liabilities
Derivative financial instruments:
Foreign exchange contracts	$	—	$	2	$	—	$	2
Total liabilities	$	—	$	2	$	—	$	2



(In millions)	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance at October 29, 2016
Assets
Derivative financial instruments:
Interest rate contracts	$	—	$	—	$	—	$	—
Foreign exchange contracts	—		7		—		7
Total assets	$	—	$	7	$	—	$	7
Liabilities
Derivative financial instruments:
Interest rate contracts	$	—	$	—	$	—	$	—
Foreign exchange contracts	—		5		—		5
Total liabilities	$	—	$	5	$	—	$	5

Fair Value Measurements, Nonrecurring

The tables below present our long-lived assets evaluated for impairment and measured at fair value on a nonrecurring basis for the thirteen and thirty-nine weeks ended October 28, 2017 and October 29, 2016, aggregated by level in the fair value hierarchy within which those measurements fall. Because these assets are not measured at fair value on a recurring basis, certain carrying amounts and fair value measurements presented in the table may reflect values at earlier measurement dates and may no longer represent their fair values at October 28, 2017 and October 29, 2016. As of October 28, 2017 and October 29, 2016, we did not have any long-lived assets classified as Level 1 or 2 within the fair value hierarchy.



(In millions)	Carrying Value Prior to Impairment		Significant Unobservable Inputs (Level 3)		Impairment Losses
Long-lived assets held and used	$	—	$	—	$	—
Balance, April 29, 2017	—		—		—
Long-lived assets held and used	3		1		2
Balance, July 29, 2017	3		1		2
Long-lived assets held and used	—		—		—
Balance, October 28, 2017	$	3	$	1	$	2



(In millions)	Carrying Value Prior to Impairment		Significant Unobservable Inputs (Level 3)		Impairment Losses
Long-lived assets held and used	$	—	$	—	$	—
Balance, April 30, 2016	—		—		—
Long-lived assets held and used	1		—		1
Balance, July 30, 2016	1		—		1
Long-lived assets held and used	4		2		2
Balance, October 29, 2016	$	5	$	2	$	3

Fair value, Long-term Debt

The table below presents the carrying values and fair values of our Long-term debt including current portion as of October 28, 2017, January 28, 2017 and October 29, 2016, aggregated by level in the fair value hierarchy within which those measurements fall.



	Long-term Debt
(In millions)	Carrying Value		Fair Value		Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
October 28, 2017	$	5,689	$	4,917	$	—	$	2,747	$	2,170
Long-term debt	2,939		2,839		—		1,404		1,435
Debt subject to compromise	2,750		2,078		85		1,258		735
January 28, 2017	4,761		4,560		204		2,679		1,677
October 29, 2016	5,563		5,515		1,526		2,252		1,737