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Retirement Plans (Tables)
 12 Months Ended
Feb. 01, 2025
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]  
Schedule of Costs of Retirement Plans
Retirement expenses (income), excluding settlement charges, included the following components:
202420232022
(millions)
401(k) Qualified Defined Contribution Plan$89 $85 $86 
Non-Qualified Defined Contribution Plan1 1 1 
Pension Plan(40)(38)(42)
Supplementary Retirement Plan28 30 26 
Postretirement Obligations(4)(3)(4)
$74 $75 $67 
Schedule of Reconciliation of Benefit Obligations, Plan Assets, and Funded Status Pension Plan and SERP
The following provides a reconciliation of benefit obligations, plan assets, and funded status of the Pension Plan and SERP as of February 1, 2025 and February 3, 2024:
Pension Plan SERP
2024202320242023
(millions)
Change in projected benefit obligation
Projected benefit obligation, beginning of year$1,556 $1,979 $467 $508 
Interest cost73 83 22 23 
Actuarial gain(57)(65)(17)(19)
Benefits paid(181)(441)(47)(45)
Projected benefit obligation, end of year1,391 1,556 425 467 
Changes in plan assets    
Fair value of plan assets, beginning of year2,011 2,389 — — 
Actual return on plan assets51 63 — — 
Company contributions— — 47 45 
Benefits paid(181)(441)(47)(45)
Fair value of plan assets, end of year1,881 2,011 — — 
Funded status at end of year$490 $455 $(425)$(467)
Amounts recognized in the Consolidated Balance Sheets at February 1, 2025 and February 3, 2024
    
Other assets$490 $455 $— $— 
Accounts payable and accrued liabilities— — (43)(53)
Other liabilities— — (382)(414)
$490 $455 $(425)$(467)
Amounts recognized in accumulated other comprehensive loss at February 1, 2025 and February 3, 2024
    
Net actuarial loss$521 $563 $126 $149 
Prior service cost— — 4 4 
$521 $563 $130 $153 
Schedule of Net Periodic Benefit Costs
Net pension costs, settlement charges and other amounts recognized in other comprehensive loss for the Pension Plan and SERP included the following actuarially determined components:
Pension Plan SERP
202420232022202420232022
(millions)
Net Periodic Pension Cost
Interest cost$73 $83 $68 $22 $23 $15 
Expected return on assets(116)(125)(122)— — — 
Amortization of net actuarial loss3 4 12 6 7 11 
(40)(38)(42)28 30 26 
      
Settlement charges46 134 39 — — — 
Other Changes in Plan Assets and Projected Benefit Obligation Recognized in Other Comprehensive Income (Loss)      
Net actuarial (gain) loss7 (3)138 (17)(19)(71)
Amortization of net actuarial loss(3)(4)(12)(6)(7)(11)
Settlement charges(46)(134)(39)— — — 
(42)(141)87 (23)(26)(82)
Total recognized$(36)$(45)$84 $5 $4 $(56)
Schedule of Weighted Average Assumptions
The following weighted average assumptions were used to determine the projected benefit obligations for the Pension Plan and SERP at February 1, 2025 and February 3, 2024:
Pension Plan SERP
2024202320242023
Discount rate5.52 %5.06 %5.54 %5.08 %
Rate of compensation increases3.00 %3.50 %— — 
Cash balance plan interest crediting rate5.00 %5.00 %— — 
The following weighted average assumptions were used to determine the net periodic pension cost for the Pension Plan and SERP:
Pension Plan SERP
202420232022202420232022
Discount rate used to measure service cost5.24 %
4.88% - 6.27%
3.35% - 5.76%
— — — 
Discount rate used to measure interest cost4.98 %
4.72% - 5.96%
2.55% - 5.49%
4.96 %4.71 %2.53 %
Expected long-term return on plan assets5.30 %5.30 %4.60 %— — — 
Rate of compensation increases3.50 %3.50 %3.50 %— — — 
Cash balance plan interest crediting rate5.00 %5.00 %5.00 %— — — 
Schedule of Fair Values of Plan Assets
The fair values of the Pension Plan assets as of February 1, 2025 and February 3, 2024, excluding interest and dividend receivables and pending investment purchases and sales, by asset category are as follows:
Fair Value Category20242023
(millions)
Money market fundsLevel 1$154 $82 
Equity securities:   
U.S. pooled fundsLevel 165 62 
International pooled fundsLevel 126 27 
Fixed income securities:   
U.S. Treasury bondsLevel 236 20 
Other Government bondsLevel 255 58 
Agency backed bondsLevel 22 — 
Corporate bondsLevel 21,080 1,270 
Mortgage-backed securitiesLevel 240 33 
Asset-backed securitiesLevel 21 1 
Pooled fundsLevel 139 37 
Other types of investments:   
Derivatives in a positive positionLevel 213 9 
Derivatives in a negative positionLevel 2(3)(2)
Pooled funds (a)273 274 
Real estate (a)12 15 
Private equity (a)81 114 
Total$1,874 $2,000 
(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.
Schedule of Estimated Future Benefit Payments
The following benefit payments are estimated to be paid from the Pension Plan and from the SERP:
Pension PlanSERP
(millions)
Fiscal year
2025$159 $43 
2026146 47 
2027141 38 
2028137 42 
2029132 38 
2030-2034546 165