STORE CLOSING COSTS, IMPAIRMENTS AND REAL ESTATE TRANSACTIONS (Tables)

3 Months Ended

May 04, 2013

Store Closing Costs, Impairments and Real Estate Transactions [Abstract]

Store closing costs recorded for the 13-week periods ended May 4, 2013 and April 28, 2012 were as follows:



millions	Markdowns⁽¹⁾		Severance Costs⁽²⁾		Lease Termination Costs⁽²⁾			Other Charges⁽²⁾		Impairment and Accelerated Depreciation⁽³⁾		Total Store Closing Costs
Kmart	$	5	$	1	$	(1	)	$	3	$	1	$	9
Sears Domestic	3		1		(3		)	2		8		11
Sears Canada	—		2		—			—		—		2
Total for the 13-week period ended May 4, 2013	$	8	$	4	$	(4	)	$	5	$	9	$	22

Kmart	$	—	$	—	$	3		$	—	$	—	$	3
Sears Domestic	—		—		31			—		—		31
Total for the 13-week period ended April 28, 2012	$	—	$	—	$	34		$	—	$	—	$	34


⁽¹⁾	Recorded within Cost of sales, buying and occupancy on the Condensed Consolidated Statements of Operations.


⁽²⁾	Recorded within Selling and administrative on the Condensed Consolidated Statements of Operations. Lease termination costs are net of estimated sublease income, and include the reversal of closed store reserves for which the lease agreement has been terminated and the reversal of deferred rent balances related to closed stores.


⁽³⁾	Costs for the 13-week period ended May 4, 2013 include $8 million recorded within Impairment charges and $1 million recorded within Depreciation and amortization on the Condensed Consolidated Statements of Operations.

Store Closing Cost Accruals

Store closing cost accruals of $169 million, $155 million and $193 million at May 4, 2013, April 28, 2012 and February 2, 2013, respectively, were as follows:



millions	Severance Costs			Lease Termination Costs			Other Charges			Total
Balance at April 28, 2012	$	32		$	97		$	26		$	155
Store closing costs	31			52			7			90
Store closing capital lease obligations	—			9			—			9
Payments/utilizations	(22		)	(20		)	(19		)	(61		)
Balance at February 2, 2013	41			138			14			193
Store closing costs	4			(4		)	5			5
Payments/utilizations	(19		)	(7		)	(3		)	(29		)
Balance at May 4, 2013	$	26		$	127		$	16		$	169

- Definition

Tabular disclosure of restructuring and related costs by type of restructuring including the description of the restructuring costs, such as the expected cost; the costs incurred during the period; the cumulative costs incurred as of the balance sheet date; the income statement caption within which the restructuring charges recognized for the period are included; and changes to an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost.

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- Definition

Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

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