XML 50 R31.htm IDEA: XBRL DOCUMENT v3.3.1.900
Fair Value Measurements (Tables)
 12 Months Ended
Jan. 29, 2016
Fair Value Measurements  
Fair value measurements - recurring basis
The following table presents the Company’s financial assets measured at fair value on a recurring basis. The fair values of these instruments approximated amortized costs.
 
 
 
Fair Value Measurements at
(In millions)
Measurement Level
 
January 29, 2016

 
January 30, 2015

Available-for-sale securities:
 
 
 
 
 
Money market funds
Level 1
 
$
192

 
$
81

Certificates of deposit
Level 1
 
56

 
17

Municipal obligations
Level 2
 
38

 
21

Municipal floating rate obligations
Level 2
 
21

 
6

Total short-term investments
 
 
$
307

 
$
125

Available-for-sale securities:
 
 
 

 
 

Municipal floating rate obligations
Level 2
 
$
212

 
$
348

Municipal obligations
Level 2
 
5

 
2

Certificates of deposit
Level 1
 
5

 
4

Total long-term investments
 
 
$
222

 
$
354


There were no transfers between Levels 1, 2 or 3 during any of the periods presented.
Fair value measurements - nonrecurring basis
The following table presents the Company’s assets measured at estimated fair value on a nonrecurring basis and the resulting impairment losses included in earnings, excluding costs to sell for excess properties held-for-sale. Because these assets subject to impairment were not measured at fair value on a recurring basis, certain fair value measurements presented in the table may reflect values at earlier measurement dates and may no longer represent the fair values at January 29, 2016 and January 30, 2015.

Fair Value Measurements - Nonrecurring Basis
 
January 29, 2016
 
January 30, 2015
(In millions)
Fair Value Measurements

 
Impairment Losses

 
Fair Value Measurements

 
Impairment Losses

Assets-held-for-use:
 
 
 
 
 
 
 
Operating locations
$
4

 
$
(8
)
 
$
9

 
$
(26
)
Excess properties
4

 
(2
)
 
11

 
(2
)
Other assets:
 
 
 
 
 
 
 
Equity method investments
393

 
(530
)
 
N/A

 
N/A

Total
$
401

 
$
(540
)
 
$
20

 
$
(28
)
Fair value of financial instruments
Carrying amounts and the related estimated fair value of the Company’s long-term debt, excluding capitalized lease obligations, are as follows:
 
January 29, 2016
 
January 30, 2015
(In millions)
Carrying Amount

 
Fair Value

 
Carrying Amount

 
Fair Value

Unsecured notes (Level 1) 1
$
12,073

 
$
13,292

 
$
10,850

 
$
12,739

Mortgage notes (Level 2)
7

 
8

 
16

 
17

Long-term debt (excluding capitalized lease obligations)
$
12,080

 
$
13,300

 
$
10,866

 
$
12,756

1 
Prior period balances have been retrospectively adjusted as a result of the Company’s adoption of ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs. The adoption of the accounting standard required reclassification of debt issuance costs from other assets to long-term debt.