GUARANTOR/NON-GUARANTOR SUBSIDIARY FINANCIAL INFORMATION (Tables)

6 Months Ended

Aug. 04, 2018

Condensed Financial Information Disclosure [Abstract]

Condensed Consolidating Balance Sheet

Condensed Consolidating Balance Sheet

August 4, 2018

millions	Parent			Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Consolidated
Current assets
Cash and cash equivalents	$	—		$	159	$	34	$	—		$	193
Restricted cash	248			—		—		—			248
Intercompany receivables	—			—		29,162		(29,162		)	—
Accounts receivable	2			301		24		—			327
Merchandise inventories	—			2,714		—		—			2,714
Prepaid expenses and other current assets	234			866		690		(1,404		)	386
Total current assets	484			4,040		29,910		(30,566		)	3,868
Total property and equipment, net	—			847		597		—			1,444
Goodwill and intangible assets	—			337		1,120		(98		)	1,359
Other assets	185			1,320		962		(2,201		)	266
Investment in subsidiaries	8,356			28,136		—		(36,492		)	—
TOTAL ASSETS	$	9,025		$	34,680	$	32,589	$	(69,357	)	$	6,937
Current liabilities
Short-term borrowings	$	—		$	1,440	$	24	$	(210	)	$	1,254
Current portion of long-term debt and capitalized lease obligations	89			477		—		(370		)	196
Merchandise payables	—			487		—		—			487
Intercompany payables	11,094			18,068		—		(29,162		)	—
Other current liabilities	15			1,871		1,313		(859		)	2,340
Total current liabilities	11,198			22,343		1,337		(30,601		)	4,277
Long-term debt and capitalized lease obligations	2,608			2,644		499		(2,247		)	3,504
Pension and postretirement benefits	—			1,162		2		—			1,164
Deferred gain on sale-leaseback	—			290		15		—			305
Sale-leaseback financing obligation	—			128		219		—			347
Long-term deferred tax liabilities	—			—		350		(231		)	119
Unearned revenues	—			603		415		(165		)	853
Other long-term liabilities	—			703		67		—			770
Total Liabilities	13,806			27,873		2,904		(33,244		)	11,339
EQUITY (DEFICIT)
Shareholder's equity (deficit)	(4,781		)	6,807		29,685		(36,113		)	(4,402		)
Total Equity (Deficit)	(4,781		)	6,807		29,685		(36,113		)	(4,402		)
TOTAL LIABILITIES AND EQUITY (DEFICIT)	$	9,025		$	34,680	$	32,589	$	(69,357	)	$	6,937

Condensed Consolidating Balance Sheet

July 29, 2017

millions	Parent			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Consolidated
Current assets
Cash and cash equivalents	$	—		$	180	$	32		$	—		$	212
Restricted cash	230			—		—			—			230
Intercompany receivables	—			—		27,871			(27,871		)	—
Accounts receivable	—			350		20			—			370
Merchandise inventories	—			3,433		—			—			3,433
Prepaid expenses and other current assets	31			677		432			(806		)	334
Total current assets	261			4,640		28,355			(28,677		)	4,579
Total property and equipment, net	—			1,262		707			—			1,969
Goodwill and intangible assets	—			355		1,261			(98		)	1,518
Other assets	405			1,304		1,532			(2,940		)	301
Investment in subsidiaries	9,302			27,717		—			(37,019		)	—
TOTAL ASSETS	$	9,968		$	35,278	$	31,855		$	(68,734	)	$	8,367
Current liabilities
Short-term borrowings	$	—		$	689	$	—		$	(143	)	$	546
Current portion of long-term debt and capitalized lease obligations	—			1,052		—			—			1,052
Merchandise payables	—			672		(2		)	—			670
Intercompany payables	11,416			16,455		—			(27,871		)	—
Other current liabilities	37			2,147		1,133			(611		)	2,706
Total current liabilities	11,453			21,015		1,131			(28,625		)	4,974
Long-term debt and capitalized lease obligations	2,130			3,036		—			(2,761		)	2,405
Pension and postretirement benefits	—			1,727		4			—			1,731
Deferred gain on sale-leaseback	—			455		—			—			455
Sale-leaseback financing obligation	—			141		89			—			230
Long-term deferred tax liabilities	48			—		738			(143		)	643
Unearned revenues	—			305		481			(193		)	593
Other long-term liabilities	—			913		79			—			992
Total Liabilities	13,631			27,592		2,522			(31,722		)	12,023
EQUITY (DEFICIT)
Shareholder's equity (deficit)	(3,663		)	7,686		29,333			(37,012		)	(3,656		)
Noncontrolling interest	—			—		—			—			—
Total Equity (Deficit)	(3,663		)	7,686		29,333			(37,012		)	(3,656		)
TOTAL LIABILITIES AND EQUITY (DEFICIT)	$	9,968		$	35,278	$	31,855		$	(68,734	)	$	8,367

Condensed Consolidating Balance Sheet

February 3, 2018

millions	Parent			Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Consolidated
Current assets
Cash and cash equivalents	$	—		$	152	$	30	$	—		$	182
Restricted cash	154			—		—		—			154
Intercompany receivables	—			—		27,993		(27,993		)	—
Accounts receivable	—			322		21		—			343
Merchandise inventories	—			2,798		—		—			2,798
Prepaid expenses and other current assets	309			910		478		(1,351		)	346
Total current assets	463			4,182		28,522		(29,344		)	3,823
Total property and equipment, net	—			1,043		686		—			1,729
Goodwill and intangible assets	—			346		1,189		(98		)	1,437
Other assets	179			1,331		1,159		(2,385		)	284
Investment in subsidiaries	8,787			27,774		—		(36,561		)	—
TOTAL ASSETS	$	9,429		$	34,676	$	31,556	$	(68,388	)	$	7,273
Current liabilities
Short-term borrowings	$	144		$	937	$	—	$	(166	)	$	915
Current portion of long-term debt and capitalized lease obligations	303			897		—		(232		)	968
Merchandise payables	—			576		—		—			576
Intercompany payables	11,099			16,894		—		(27,993		)	—
Other current liabilities	16			1,970		1,426		(949		)	2,463
Total current liabilities	11,562			21,274		1,426		(29,340		)	4,922
Long-term debt and capitalized lease obligations	1,991			2,734		—		(2,476		)	2,249
Pension and postretirement benefits	—			1,616		3		—			1,619
Deferred gain on sale-leaseback	—			360		2		—			362
Sale-leaseback financing obligation	—			158		89		—			247
Long-term deferred tax liabilities	—			—		349		(223		)	126
Unearned revenues	—			271		446		(178		)	539
Other long-term liabilities	—			867		68		—			935
Total Liabilities	13,553			27,280		2,383		(32,217		)	10,999
EQUITY (DEFICIT)
Shareholder's equity (deficit)	(4,124		)	7,396		29,173		(36,171		)	(3,726		)
Noncontrolling interest	—			—		—		—			—
Total Equity (Deficit)	(4,124		)	7,396		29,173		(36,171		)	(3,726		)
TOTAL LIABILITIES AND EQUITY (DEFICIT)	$	9,429		$	34,676	$	31,556	$	(68,388	)	$	7,273

Condensed Consolidating Statement of Operations

Condensed Consolidating Statement of Operations

For the 13 Weeks Ended August 4, 2018

millions	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Merchandise sales	$	—		$	2,416		$	—		$	12		$	2,428
Services and other	1			766			528			(541		)	754
Total revenues	1			3,182			528			(529		)	3,182
Cost of sales, buying and occupancy - merchandise sales	1			2,028			—			26			2,055
Cost of sales and occupancy - services and other	—			521			215			(311		)	425
Total cost of sales, buying and occupancy	1			2,549			215			(285		)	2,480
Selling and administrative	3			918			187			(244		)	864
Depreciation and amortization	—			53			13			—			66
Impairment charges	—			—			77			—			77
Gain on sales of assets	—			(80		)	(23		)	—			(103		)
Total costs and expenses	4			3,440			469			(529		)	3,384
Operating income (loss)	(3		)	(258		)	59			—			(202		)
Interest expense	(205		)	(278		)	(75		)	370			(188		)
Interest and investment income	56			117			218			(389		)	2
Other loss	—			(139		)	—			—			(139		)
Income (loss) before income taxes	(152		)	(558		)	202			(19		)	(527		)
Income tax (expense) benefit	—			27			(8		)	—			19
Equity (deficit) in earnings in subsidiaries	(337		)	98			—			239			—
NET INCOME (LOSS) ATTRIBUTABLE TO HOLDINGS' SHAREHOLDERS	$	(489	)	$	(433	)	$	194		$	220		$	(508	)

Condensed Consolidating Statement of Operations

For the 13 Weeks Ended July 29, 2017

millions	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Merchandise sales	$	—		$	3,406		$	—		$	8		$	3,414
Services and other	—			885			563			(584		)	864
Total revenues	—			4,291			563			(576		)	4,278
Cost of sales, buying and occupancy - merchandise sales	—			2,795			—			20			2,815
Cost of sales and occupancy - services and other	—			584			220			(313		)	491
Total cost of sales, buying and occupancy	—			3,379			220			(293		)	3,306
Selling and administrative	(33		)	1,229			210			(283		)	1,123
Depreciation and amortization	—			67			16			—			83
Impairment charges	—			5			—			—			5
(Gain) loss on sales of assets	6			(386		)	—			—			(380		)
Total costs and expenses	(27		)	4,294			446			(576		)	4,137
Operating income (loss)	27			(3		)	117			—			141
Interest expense	(154		)	(237		)	(4		)	272			(123		)
Interest and investment income (loss)	28			64			168			(272		)	(12		)
Other loss	—			(246		)	—			—			(246		)
Income (loss) before income taxes	(99		)	(422		)	281			—			(240		)
Income tax (expense) benefit	—			21			(31		)	—			(10		)
Equity (deficit) in earnings in subsidiaries	(151		)	176			—			(25		)	—
NET INCOME (LOSS) ATTRIBUTABLE TO HOLDINGS' SHAREHOLDERS	$	(250	)	$	(225	)	$	250		$	(25	)	$	(250	)

Condensed Consolidating Statement of Operations

For the 26 Weeks Ended August 4, 2018

millions	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Merchandise sales	$	—		$	4,619		$	—		$	21		$	4,640
Services and other	1			1,446			1,045			(1,059		)	1,433
Total revenues	1			6,065			1,045			(1,038		)	6,073
Cost of sales, buying and occupancy - merchandise sales	1			3,894			—			59			3,954
Cost of sales and occupancy - services and other	—			998			427			(613		)	812
Total cost of sales, buying and occupancy	1			4,892			427			(554		)	4,766
Selling and administrative	6			1,873			375			(484		)	1,770
Depreciation and amortization	—			106			27			—			133
Impairment charges	—			11			80			—			91
Gain on sales of assets	—			(187		)	(81		)	—			(268		)
Total costs and expenses	7			6,695			828			(1,038		)	6,492
Operating income (loss)	(6		)	(630		)	217			—			(419		)
Interest expense	(387		)	(564		)	(91		)	688			(354		)
Interest and investment income	89			176			445			(707		)	3
Other loss	—			(172		)	—			—			(172		)
Income (loss) before income taxes	(304		)	(1,190		)	571			(19		)	(942		)
Income tax (expense) benefit	—			61			(51		)	—			10
Equity (deficit) in earnings in subsidiaries	(609		)	357			—			252			—
NET INCOME (LOSS) ATTRIBUTABLE TO HOLDINGS' SHAREHOLDERS	$	(913	)	$	(772	)	$	520		$	233		$	(932	)

Condensed Consolidating Statement of Operations

For the 26 Weeks Ended July 29, 2017

millions	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Merchandise sales	$	—		$	6,730		$	—		$	13		$	6,743
Services and other	—			1,756			1,161			(1,183		)	1,734
Total revenues	—			8,486			1,161			(1,170		)	8,477
Cost of sales, buying and occupancy - merchandise sales	—			5,547			—			47			5,594
Cost of sales and occupancy - services and other	—			1,188			443			(651		)	980
Total cost of sales, buying and occupancy	—			6,735			443			(604		)	6,574
Selling and administrative	(32		)	2,515			427			(566		)	2,344
Depreciation and amortization	—			138			32			—			170
Impairment charges	—			20			—			—			20
Gain on sales of assets	(486		)	(635		)	—			—			(1,121		)
Total costs and expenses	(518		)	8,773			902			(1,170		)	7,987
Operating income (loss)	518			(287		)	259			—			490
Interest expense	(271		)	(458		)	(8		)	486			(251		)
Interest and investment income (loss)	38			103			331			(486		)	(14		)
Other loss	—			(292		)	—			—			(292		)
Income (loss) before income taxes	285			(934		)	582			—			(67		)
Income tax (expense) benefit	—			150			(88		)	—			62
Equity (deficit) in earnings in subsidiaries	(290		)	349			—			(59		)	—
NET INCOME (LOSS) ATTRIBUTABLE TO HOLDINGS' SHAREHOLDERS	$	(5	)	$	(435	)	$	494		$	(59	)	$	(5	)

Condensed Consolidating Statement of Comprehensive Income (Loss)

Condensed Consolidating Statement of Comprehensive Income (Loss)

For the 13 Weeks Ended August 4, 2018

millions	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations		Consolidated
Net income (loss)	$	(489	)	$	(433	)	$	194		$	220	$	(508	)
Other comprehensive income (loss)
Pension and postretirement adjustments, net of tax	—			218			—			—		218
Currency translation adjustments, net of tax	—			—			(1		)	—		(1		)
Unrealized net loss, net of tax	(8		)	—			—			8		—
Total other comprehensive income (loss)	(8		)	218			(1		)	8		217
Comprehensive income (loss) attributable to Holdings' shareholders	$	(497	)	$	(215	)	$	193		$	228	$	(291	)

Condensed Consolidating Statement of Comprehensive Income (Loss)

For the 13 Weeks Ended July 29, 2017

millions	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries		Eliminations			Consolidated
Net income (loss)	$	(250	)	$	(225	)	$	250	$	(25	)	$	(250	)
Other comprehensive income
Pension and postretirement adjustments, net of tax	—			127			—		—			127
Total other comprehensive income	—			127			—		—			127
Comprehensive income (loss) attributable to Holdings' shareholders	$	(250	)	$	(98	)	$	250	$	(25	)	$	(123	)

Condensed Consolidating Statement of Comprehensive Income (Loss)

For the 26 Weeks Ended August 4, 2018

millions	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries		Eliminations		Consolidated
Net income (loss)	$	(913	)	$	(772	)	$	520	$	233	$	(932	)
Other comprehensive income (loss)
Pension and postretirement adjustments, net of tax	—			254			—		—		254
Currency translation adjustments, net of tax	—			—			—		—		—
Unrealized net gain (loss), net of tax	(8		)	—			3		5		—
Total other comprehensive income (loss)	(8		)	254			3		5		254
Comprehensive income (loss) attributable to Holdings' shareholders	$	(921	)	$	(518	)	$	523	$	238	$	(678	)

Condensed Consolidating Statement of Comprehensive Income (Loss)

For the 26 Weeks Ended July 29, 2017

millions	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries		Eliminations			Consolidated
Net income (loss)	$	(5	)	$	(435	)	$	494	$	(59	)	$	(5	)
Other comprehensive income
Pension and postretirement adjustments, net of tax	—			177			—		—			177
Currency translation adjustments, net of tax	—			—			1		—			1
Unrealized net gain, net of tax	—			—			26		(26		)	—
Total other comprehensive income	—			177			27		(26		)	178
Comprehensive income (loss) attributable to Holdings' shareholders	$	(5	)	$	(258	)	$	521	$	(85	)	$	173

Condensed Consolidating Statement of Cash Flows

Condensed Consolidating Statement of Cash Flows

For the 26 Weeks Ended August 4, 2018

millions	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Net cash provided by (used in) operating activities	$	8		$	(1,170	)	$	126		$	—		$	(1,036	)
Proceeds from sales of property and investments	—			160			162			—			322
Purchases of property and equipment	—			(28		)	(4		)	—			(32		)
Net investing with Affiliates	(245		)	(94		)	(795		)	1,134			—
Net cash provided by (used in) investing activities	(245		)	38			(637		)	1,134			290
Proceeds from debt issuances	327			195			713			—			1,235
Repayments of long-term debt	(88		)	(611		)	(170		)	—			(869		)
Increase in short-term borrowings, primarily 90 days or less	—			389			—			—			389
Proceeds from sale-leaseback financing	—			130			—			—			130
Debt issuance costs	(2		)	(4		)	(28		)	—			(34		)
Net borrowing with Affiliates	94			1,040			—			(1,134		)	—
Net cash provided by financing activities	331			1,139			515			(1,134		)	851
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	94			7			4			—			105
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH BEGINNING OF YEAR	154			152			30			—			336
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH END OF PERIOD	$	248		$	159		$	34		$	—		$	441

Condensed Consolidating Statement of Cash Flows

For the 26 Weeks EndedJuly 29, 2017

millions	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Net cash provided by (used in) operating activities	$	(11	)	$	(1,436	)	$	309		$	—		$	(1,138	)
Proceeds from sales of property and investments	—			569			—			—			569
Proceeds from Craftsman sale	572			—			—			—			572
Proceeds from sales of receivables	293			—			—			—			293
Purchases of property and equipment	—			(36		)	(5		)	—			(41		)
Net investing with Affiliates	(582		)	—			(298		)	880			—
Net cash provided by (used in) investing activities	283			533			(303		)	880			1,393
Proceeds from debt issuances	—			330			—			—			330
Repayments of long-term debt	(39		)	(678		)	—			—			(717		)
Increase in short-term borrowings, primarily 90 days or less	—			216			—			—			216
Proceeds from sale-leaseback financing	—			89			—			—			89
Debt issuance costs	(3		)	(14		)	—			—			(17		)
Net borrowing with Affiliates	—			880			—			(880		)	—
Net cash provided by (used in) financing activities	(42		)	823			—			(880		)	(99		)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	230			(80		)	6			—			156
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH BEGINNING OF YEAR	—			260			26			—			286
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH END OF PERIOD	$	230		$	180		$	32		$	—		$	442