Derivative Instruments Derivative Instruments (Tables)

6 Months Ended

Aug. 04, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Gross fair values of outstanding derivative instruments

The following tables present the gross fair values of our outstanding derivative instruments and the corresponding classification at August 4, 2018, February 3, 2018, and July 29, 2017 ($ in millions):

		Assets
Contract Type	Balance Sheet Location	August 4, 2018		February 3, 2018		July 29, 2017
Derivatives designated as net investment hedges	Other current assets	$	5	$	2	$	—
Derivatives designated as interest rate swaps	Other current assets and Other assets	—		—		16
Total		$	5	$	2	$	16

		Liabilities
Contract Type	Balance Sheet Location	August 4, 2018		February 3, 2018		July 29, 2017
Derivatives designated as net investment hedges	Accrued liabilities	$	—	$	7	$	13
Derivatives designated as interest rate swaps	Accrued liabilities and Long-term liabilities	7		5		—
No hedge designation (foreign exchange forward contracts)	Accrued liabilities	—		1		2
Total		$	7	$	13	$	15

Effects of derivative instruments on OCI and earnings

The following table presents the effects of derivative instruments on other comprehensive income ("OCI") for the three and six months ended August 4, 2018, and July 29, 2017 ($ in millions):

	Three Months Ended					Six Months Ended
Derivatives designated as net investment hedges	August 4, 2018		July 29, 2017			August 4, 2018		July 29, 2017
Pre-tax gain(loss) recognized in OCI	$	3	$	(19	)	$	19	$	(11	)

Effects of derivatives not designated as hedging instruments on earnings

The following table presents the effects of derivatives not designated as hedging instruments on our Condensed Consolidated Statements of Earnings for the three and six months ended August 4, 2018, and July 29, 2017 ($ in millions):

		Gain (Loss) Recognized
		Three Months Ended					Six Months Ended
Contract Type	Location of Gain (Loss) Recognized	August 4, 2018		July 29, 2017			August 4, 2018		July 29, 2017
No hedge designation (foreign exchange contracts)	SG&A	$	1	$	(4	)	$	1	$	(3	)

Effects of interest rate derivatives and adjustments to LTD on earnings

The following table presents the effects of interest rate derivatives and adjustments to the carrying value of long-term debt on our Condensed Consolidated Statements of Earnings for the three and six months ended August 4, 2018, and July 29, 2017 ($ in millions):

		Gain (Loss) Recognized
		Three Months Ended						Six Months Ended
Contract Type	Location of Gain (Loss) Recognized	August 4, 2018			July 29, 2017			August 4, 2018			July 29, 2017
Interest rate swap contracts	Interest expense	$	3		$	14		$	(1	)	$	3
Adjustments to carrying value of long-term debt	Interest expense	(3		)	(14		)	1			(3		)
Total		$	—		$	—		$	—		$	—

Notional amount of derivative instruments

The following table presents the notional amounts of our derivative instruments at August 4, 2018, February 3, 2018, and July 29, 2017 ($ in millions):

	Notional Amount
Contract Type	August 4, 2018		February 3, 2018		July 29, 2017
Derivatives designated as net investment hedges	$	59	$	462	$	205
Derivatives designated as interest rate swap contracts	650		1,150		1,000
No hedge designation (foreign exchange forward contracts)	41		33		48
Total	$	750	$	1,645	$	1,253