Fair Value Measurements (Tables)

12 Months Ended

Feb. 01, 2014

Carrying Value And Fair Value Of Long Term Debt, Disclosure

The following table provides a summary of the carrying value and fair value of long-term debt as of February 1, 2014 and February 2, 2013:

	February 1, 2014		February 2, 2013
	(in millions)
Carrying Value	$	4,976	$	4,477
Fair Value (a)	5,333		5,023

________________

(a) The estimated fair value of the Company’s publicly traded debt is based on reported transaction prices which are considered Level 2 inputs in accordance with ASC Topic 820, Fair Value Measurements and Disclosure. The estimates presented are not necessarily indicative of the amounts that the Company could realize in a current market exchange.

Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table provides a summary of assets and liabilities measured in the consolidated financial statements at fair value on a recurring basis as of February 1, 2014 and February 2, 2013:

	Level 1		Level 2		Level 3		Total
	(in millions)
As of February 1, 2014
Assets:
Cash and Cash Equivalents	$	1,519	$	—	$	—	$	1,519
Interest Rate Designated Fair Value Hedges	—		5		—		5
Liabilities:
Cross-currency Cash Flow Hedges	—		13		—		13
Lease Guarantees	—		—		1		1
As of February 2, 2013
Assets:
Cash and Cash Equivalents	$	773	$	—	$	—	$	773
Liabilities:
Cross-currency Cash Flow Hedges	—		59		—		59
Lease Guarantees	—		—		2		2

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table provides a reconciliation of the Company’s lease guarantees measured at fair value on a recurring basis using unobservable inputs (Level 3) for 2013 and 2012:

	2013			2012
	(in millions)
Beginning Balance	$	2		$	4
Change in Estimated Fair Value Reported in Earnings	(1		)	(2		)
Ending Balance	$	1		$	2