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Retirement Plans (Tables)
 12 Months Ended
Feb. 03, 2018
Schedule of Costs of Retirement Plans
Retirement expenses, excluding settlement charges, included the following components:
 
2017
 
2016
 
2015
 
(millions)
401(k) Qualified Defined Contribution Plan
$
93

 
$
94

 
$
88

Non-Qualified Defined Contribution Plan
1

 
2

 
2

Pension Plan
(82
)
 
(83
)
 
(54
)
Supplementary Retirement Plan
31

 
31

 
41

 
$
43

 
$
44

 
$
77
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 3, 2018 and January 28, 2017:
 
 
2017
 
2016
 
(millions)
Change in projected benefit obligation
 
 
 
Projected benefit obligation, beginning of year
$
3,469

 
$
3,585

Service cost
6

 
5

Interest cost
104

 
108

Actuarial loss
82

 
55

Benefits paid
(390
)
 
(284
)
Projected benefit obligation, end of year
3,271

 
3,469

Changes in plan assets
 
 
 
Fair value of plan assets, beginning of year
3,374

 
3,256

Actual return on plan assets
425

 
402

Company contributions
—

 
—

Benefits paid
(390
)
 
(284
)
Fair value of plan assets, end of year
3,409

 
3,374

Funded status at end of year
$
138

 
$
(95
)
Amounts recognized in the Consolidated Balance Sheets at
February 3, 2018 and January 28, 2017
 
 
 
Other assets (liabilities)
$
138

 
$
(95
)
 

 

Amounts recognized in accumulated other comprehensive loss at
February 3, 2018 and January 28, 2017
 
 
 
Net actuarial loss
$
992

 
$
1,232
Schedule of Net Periodic Benefit Costs
Net pension costs, settlement charges and other amounts recognized in other comprehensive loss for the Pension Plan included the following actuarially determined components:
 
 
2017
 
2016
 
2015
 
(millions)
Net Periodic Pension Cost
 
 
 
 
 
Service cost
$
6

 
$
5

 
$
6

Interest cost
104

 
108

 
137

Expected return on assets
(223
)
 
(227
)
 
(235
)
Amortization of net actuarial loss
31

 
31

 
38

Amortization of prior service credit
—

 
—

 
—

 
(82
)
 
(83
)
 
(54
)
 
 
 
 
 
 
Settlement charges
89

 
68

 
—

 
 
 
 
 
 
Other Changes in Plan Assets and Projected Benefit Obligation
Recognized in Other Comprehensive Loss
 
 
 
 
 
Net actuarial (gain) loss
(120
)
 
(120
)
 
92

Amortization of net actuarial loss
(31
)
 
(31
)
 
(38
)
Amortization of prior service credit
—

 
—

 
—

Settlement charges
(89
)
 
(68
)
 
—

 
(240
)
 
(219
)
 
54

Total recognized
$
(233
)
 
$
(234
)
 
$
—
Weighted Average Assumptions
The following weighted average assumptions were used to determine the net periodic pension cost for the Pension Plan:
 
 
2017
 
2016
 
2015
Discount rate used to measure service cost
3.75% - 4.06%

 
3.79% - 4.26%

 
3.55
%
Discount rate used to measure interest cost
3.12% - 3.31%

 
2.96% - 3.30%

 
3.55
%
Expected long-term return on plan assets
7.00
%
 
7.00
%
 
7.00
%
Rate of compensation increases
4.10
%
 
4.10
%
 
4.10
%
The following weighted average assumptions were used to determine the projected benefit obligations for the Pension Plan at February 3, 2018 and January 28, 2017:
 
 
2017
 
2016
Discount rate
3.74
%
 
4.00
%
Rate of compensation increases
4.00
%
 
4.10
%
Fair Values of Plan Assets
The fair values of the Pension Plan assets as of February 3, 2018, 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)
Short term investments
$
5

 
$
—

 
$
5

 
$
—

Money market funds
35

 
35

 
—

 
—

Equity securities:
 
 
 
 
 
 
 
U.S. stocks
157

 
157

 
—

 
—

U.S. pooled funds
481

 
481

 
—

 
—

International pooled funds (a)
447

 
114

 
—

 
—

Fixed income securities:
 
 
 
 
 
 
 
U. S. Treasury bonds
44

 
—

 
44

 
—

Other Government bonds
59

 
—

 
59

 
—

Agency backed bonds
13

 
—

 
13

 
—

Corporate bonds
538

 
—

 
538

 
—

Mortgage-backed securities
15

 
—

 
15

 
—

Asset-backed securities
6

 
—

 
6

 
—

Pooled funds
1,310

 
1,310

 
—

 
—

Other types of investments:
 
 
 
 
 
 
 
Real estate (a)
148

 
—

 
—

 
—

Private equity (a)
183

 
—

 
—

 
—

Derivatives in a positive position
9

 
—

 
9

 
—

Derivatives in a negative position
(3
)
 
—

 
(3
)
 
—

Total
$
3,447

 
$
2,097

 
$
686

 
$
—

(a) Certain investments that are measured at fair value using the net asset value per share as a practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in these tables are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the fair value of plan assets.

The fair values of the Pension Plan assets as of January 28, 2017, 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)
Short term investments
$
14

 
$
—

 
$
14

 
$
—

Money market funds
74

 
74

 
—

 
—

Equity securities:


 
 
 
 
 
 
U.S. stocks
309

 
309

 
—

 
—

U.S. pooled funds (a)
654

 
446

 
—

 
—

International pooled funds (a)
649

 
131

 
—

 
—

Fixed income securities:


 
 
 
 
 
 
U. S. Treasury bonds
194

 
—

 
194

 
—

Other Government bonds
40

 
—

 
40

 
—

Agency backed bonds
24

 
—

 
24

 
—

Corporate bonds
453

 
—

 
453

 
—

Mortgage-backed securities
85

 
—

 
85

 
—

Asset-backed securities
17

 
—

 
17

 
—

Pooled funds
461

 
461

 
—

 
—

Other types of investments:


 
 
 
 
 
 
Real estate (a)
223

 
—

 
—

 
—

Private equity (a)
186

 
—

 
—

 
—

Derivatives in a positive position
13

 
—

 
13

 
—

Derivatives in a negative position
(19
)
 
—

 
(19
)
 
—

Total
$
3,377

 
$
1,421

 
$
821

 
$
—

(a) Certain investments that are measured at fair value using the net asset value per share as a practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in these tables are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the fair value of plan assets.
Estimated Future Benefit Payments
The following benefit payments are estimated to be paid from the Pension Plan:
 
 
(millions)
Fiscal year
 
2018
$
335

2019
318

2020
257

2021
247

2022
233

2023-2027
1,045
Supplemental Employee Retirement Plan  
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 3, 2018 and January 28, 2017:
 
 
2017
 
2016
 
(millions)
Change in projected benefit obligation
 
 
 
Projected benefit obligation, beginning of year
$
747

 
$
823

Service cost
—

 
—

Interest cost
22

 
22

Actuarial loss
20

 
26

Benefits paid
(86
)
 
(124
)
Projected benefit obligation, end of year
703

 
747

Change in plan assets
 
 
 
Fair value of plan assets, beginning of year
—

 
—

Company contributions
86

 
124

Benefits paid
(86
)
 
(124
)
Fair value of plan assets, end of year
—

 
—

Funded status at end of year
$
(703
)
 
$
(747
)
Amounts recognized in the Consolidated Balance Sheets at
February 3, 2018 and January 28, 2017
 
 
 
Accounts payable and accrued liabilities
$
(69
)
 
$
(86
)
Other liabilities
(634
)
 
(661
)
 
$
(703
)
 
$
(747
)
Amounts recognized in accumulated other comprehensive loss at
February 3, 2018 and January 28, 2017
 
 
 
Net actuarial loss
$
244

 
$
248

Prior service cost
7

 
8

 
$
251

 
$
256
Schedule of Net Periodic Benefit Costs
Net pension costs, settlement charges and other amounts recognized in other comprehensive loss for the supplementary retirement plan included the following actuarially determined components:
 
 
2017
 
2016
 
2015
 
(millions)
Net Periodic Pension Cost
 
 
 
 
 
Service cost
$
—

 
$
—

 
$
—

Interest cost
22

 
22

 
31

Amortization of net actuarial loss
8

 
9

 
10

Amortization of prior service cost
1

 
—

 
—

 
31

 
31

 
41

 
 
 
 
 
 
Settlement charges
16

 
30

 
—

 
 
 
 
 
 
Other Changes in Plan Assets and Projected Benefit Obligation
Recognized in Other Comprehensive Loss
 
 
 
 
 
Net actuarial (gain) loss
20

 
26

 
(70
)
Prior service cost
—

 
—

 
—

Amortization of net actuarial loss
(8
)
 
(9
)
 
(10
)
Amortization of prior service cost
(1
)
 
—

 
—

Settlement charges
(16
)
 
(30
)
 
—

 
(5
)
 
(13
)
 
(80
)
Total recognized
$
42

 
$
48

 
$
(39
)
Weighted Average Assumptions
The following weighted average assumption was used to determine the projected benefit obligations for the supplementary retirement plan at February 3, 2018 and January 28, 2017:
 
 
2017
 
2016
Discount rate
3.78
%
 
4.07
%
The following weighted average assumption was used to determine net pension costs for the supplementary retirement plan:
 
 
2017
 
2016
 
2015
Discount rate used to measure interest cost
3.10% - 3.26%
 
2.65% - 3.16%
 
3.55
%
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
 
2018
$
69

2019
49

2020
48

2021
49

2022
48

2023-2027
223