Retirement Plans (Tables)

12 Months Ended

Feb. 01, 2014

Pension Plan [Member]

Reconciliation of Benefit Obligations, Plan Assets, and Funded Status Pension Plan

The following provides a reconciliation of benefit obligations, plan assets, and funded status of the Pension Plan as of February 1, 2014 and February 2, 2013:

	2013			2012
	(millions)
Change in projected benefit obligation
Projected benefit obligation, beginning of year	$	3,555		$	3,458
Service cost	112			117
Interest cost	143			157
Actuarial (gain) loss	(117		)	283
Benefits paid	(220		)	(206		)
Actuarial gain due to curtailment	—			(254		)
Projected benefit obligation, end of year	3,473			3,555
Changes in plan assets
Fair value of plan assets, beginning of year	3,387			3,069
Actual return on plan assets	379			374
Company contributions	—			150
Benefits paid	(220		)	(206		)
Fair value of plan assets, end of year	3,546			3,387
Funded status at end of year	$	73		$	(168	)
Amounts recognized in the Consolidated Balance Sheets at February 1, 2014 and February 2, 2013
Other assets	$	73		$	—
Other liabilities	—			(168		)
	$	73		$	(168	)
Amounts recognized in accumulated other comprehensive loss at February 1, 2014 and February 2, 2013
Net actuarial loss	$	931		$	1,326

Schedule of Net Periodic Benefit Costs

Net pension costs and other amounts recognized in other comprehensive loss for the Pension Plan included the following actuarially determined components:

	2013			2012			2011
	(millions)
Net Periodic Pension Cost
Service cost	$	112		$	117		$	102
Interest cost	143			157			160
Expected return on assets	(242		)	(253		)	(248		)
Amortization of net actuarial loss	141			141			88
Amortization of prior service credit	—			(1		)	(1		)
	154			161			101
Other Changes in Plan Assets and Projected Benefit Obligation Recognized in Other Comprehensive Loss
Net actuarial (gain) loss	(254		)	(91		)	530
Amortization of net actuarial loss	(141		)	(141		)	(88		)
Amortization of prior service credit	—			1			1
	(395		)	(231		)	443
Total recognized in net periodic pension cost and other comprehensive loss	$	(241	)	$	(70	)	$	544

Weighted Average Assumptions

The following weighted average assumptions were used to determine the projected benefit obligations for the Pension Plan at February 1, 2014 and February 2, 2013:

	2013		2012
Discount rate	4.50	%	4.15	%
Rate of compensation increases	4.10	%	4.50	%

The following weighted average assumptions were used to determine the net periodic pension cost for the Pension Plan:

	2013		2012		2011
Discount rate	4.15	%	4.65	%	5.40	%
Expected long-term return on plan assets	7.50	%	8.00	%	8.00	%
Rate of compensation increases	4.50	%	4.50	%	4.50	%

Fair Values of Plan Assets

The fair values of the Pension Plan assets as of February 1, 2014, excluding interest and dividend receivables and pending investment purchases and sales, by asset category are as follows:

	Fair Value Measurements
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(millions)
Cash and cash equivalents	$	211	$	—	$	211	$	—
Equity securities:
U.S.	834		354		480		—
International	748		—		748		—
Fixed income securities:
U. S. Treasury bonds	221		—		221		—
Other Government bonds	39		—		39		—
Agency backed bonds	22		—		22		—
Corporate bonds	388		—		388		—
Mortgage-backed securities and forwards	95		—		95		—
Asset-backed securities	20		—		20		—
Pooled funds	454		—		454		—
Other types of investments:
Real estate	214		—		—		214
Hedge funds	167		—		—		167
Private equity	167		—		—		167
Total	$	3,580	$	354	$	2,678	$	548

The fair values of the Pension Plan assets as of February 2, 2013, excluding interest and dividend receivables and pending investment purchases and sales, by asset category are as follows:

	Fair Value Measurements
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(millions)
Cash and cash equivalents	$	204	$	—	$	204	$	—
Equity securities:
U.S.	832		290		542		—
International	818		—		818		—
Fixed income securities:
U. S. Treasury bonds	136		—		136		—
Other Government bonds	34		—		34		—
Agency backed bonds	6		—		6		—
Corporate bonds	338		—		338		—
Mortgage-backed securities and forwards	102		—		102		—
Asset-backed securities	24		—		24		—
Pooled funds	303		—		303		—
Other types of investments:
Real estate	280		—		—		280
Hedge funds	154		—		—		154
Private equity	160		—		—		160
Total	$	3,391	$	290	$	2,507	$	594

Changes in Fair Value of Level 3 Assets

The following table sets forth a summary of changes in fair value of the Pension Plan’s level 3 assets for 2013 and 2012:

	2013			2012
	(millions)
Balance, beginning of year	$	594		$	533
Actual gain on plan assets:
Relating to assets still held at the reporting date	1			7
Relating to assets sold during the period	48			23
Purchases	77			71
Sales	(172		)	(40		)
Balance, end of year	$	548		$	594

Estimated Future Benefit Payments

The following benefit payments are estimated to be paid from the Pension Plan:

	(millions)
Fiscal year
2014	$	274
2015	256
2016	248
2017	244
2018	240
2019-2023	1,107

Supplementary Retirement Plan [Member]

Reconciliation of Benefit Obligations, Plan Assets, and Funded Status Pension Plan

The following provides a reconciliation of benefit obligations, plan assets and funded status of the supplementary retirement plan as of February 1, 2014 and February 2, 2013:

	2013			2012
	(millions)
Change in projected benefit obligation
Projected benefit obligation, beginning of year	$	795		$	771
Service cost	6			6
Interest cost	32			35
Actuarial (gain) loss	(17		)	76
Plan amendment	8			—
Benefits paid	(54		)	(51		)
Actuarial gain due to curtailment	—			(42		)
Projected benefit obligation, end of year	770			795
Change in plan assets
Fair value of plan assets, beginning of year	—			—
Company contributions	54			51
Benefits paid	(54		)	(51		)
Fair value of plan assets, end of year	—			—
Funded status at end of year	$	(770	)	$	(795	)
Amounts recognized in the Consolidated Balance Sheets at February 1, 2014 and February 2, 2013
Accounts payable and accrued liabilities	$	(59	)	$	(58	)
Other liabilities	(711		)	(737		)
	$	(770	)	$	(795	)
Amounts recognized in accumulated other comprehensive loss at February 1, 2014 and February 2, 2013
Net actuarial loss	$	176		$	212
Prior service cost	8			—
	$	184		$	212

Schedule of Net Periodic Benefit Costs

Net pension costs and other amounts recognized in other comprehensive loss for the supplementary retirement plan included the following actuarially determined components:

	2013			2012			2011
	(millions)
Net Periodic Pension Cost
Service cost	$	6		$	6		$	6
Interest cost	32			35			36
Amortization of net actuarial loss	19			17			8
Amortization of prior service credit	—			(1		)	(1		)
	57			57			49
Other Changes in Plan Assets and Projected Benefit Obligation Recognized in Other Comprehensive Loss
Net actuarial (gain) loss	(17		)	34			90
Prior service cost	8			—			—
Amortization of net actuarial loss	(19		)	(17		)	(8		)
Amortization of prior service credit	—			1			1
	(28		)	18			83
Total recognized in net periodic pension cost and other comprehensive loss	$	29		$	75		$	132

Weighted Average Assumptions

The following weighted average assumptions were used to determine net pension costs for the supplementary retirement plan:

	2013		2012		2011
Discount rate	4.15	%	4.65	%	5.40	%
Rate of compensation increases	4.90	%	4.90	%	4.90	%

The following weighted average assumptions were used to determine the projected benefit obligations for the supplementary retirement plan at February 1, 2014 and February 2, 2013:

	2013		2012
Discount rate	4.50	%	4.15	%
Rate of compensation increases	N/A		4.90	%

Estimated Future Benefit Payments

The following benefit payments are estimated to be funded by the Company and paid from the supplementary retirement plan:

	(millions)
Fiscal year
2014	$	59
2015	63
2016	62
2017	63
2018	59
2019-2023	277