Debt And Credit Facilities

9 Months Ended

Oct. 29, 2016

DEBT AND CREDIT FACILITIES

Debt

A summary of our long-term debt, including capital leases, is as follows:



	October 29, 2016			January 30, 2016			October 31, 2015
Secured
Mortgage payable, 7.68%, due April 2020		$26			$30			$32
Other	3			5			5
Total secured debt	29			35			37

Unsecured
Net of unamortized discount:
Senior notes, 6.25%, due January 2018	650			649			649
Senior notes, 4.75%, due May 2020	499			499			499
Senior notes, 4.00%, due October 2021	500			500			499
Senior debentures, 6.95%, due March 2028	300			300			300
Senior notes, 7.00%, due January 2038	146			146			146
Senior notes, 5.00%, due January 2044	602			600			600
Other	52			76			79
Total unsecured debt	2,749			2,770			2,772

Total long-term debt	2,778			2,805			2,809
Less: current portion	(11		)	(10		)	(9		)
Total due beyond one year		$2,767			$2,795			$2,800

Credit Facilities

As of October 29, 2016, we had total short-term borrowing capacity of $800 under our senior unsecured revolving credit facility (“revolver”) that expires in April 2020, with an option to extend for an additional year. Under the terms of our revolver, we pay a variable rate of interest and a commitment fee based on our debt rating. The revolver is available for working capital, capital expenditures and general corporate purposes. We have the option to increase the revolving commitment by up to $200, to a total of $1,000, provided that we obtain written consent from the lenders. As of October 29, 2016, we had no issuances outstanding under our commercial paper program and no borrowings outstanding under our revolver.

The revolver requires that we maintain an adjusted debt to earnings before interest, income taxes, depreciation, amortization and rent (“EBITDAR”) leverage ratio of less than four times. As of October 29, 2016, we were in compliance with this covenant.