Belk (BLKIA) 10-Q 10 Jun 14 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	3-May-14	Jun. 03, 2014	Jun. 03, 2014
		Class A Common Stock [Member]	Class B Common Stock [Member]
Document Information [Line Items]	'	'	'
Document Type	'10-Q	'	'
Amendment Flag	'false	'	'
Document Period End Date	3-May-14	'	'
Document Fiscal Year Focus	'2015	'	'
Document Fiscal Period Focus	'Q1	'	'
Entity Registrant Name	'BELK INC	'	'
Entity Central Index Key	'0001051771	'	'
Current Fiscal Year End Date	'--02-01	'	'
Entity Filer Category	'Accelerated Filer	'	'
Entity Common Stock, Shares Outstanding	'	38,351,481	912,922

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Income (Unaudited) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	3-May-14	4-May-13
Income Statement [Abstract]	'	'
Revenues	$955,142	$955,834
Cost of goods sold (including occupancy, distribution and buying expenses)	646,118	645,268
Selling, general and administrative expenses	267,756	255,900
Gain on sale of property and equipment	587	522
Asset impairment and exit costs	788	743
Operating income	41,067	54,445
Interest expense, net	-11,542	-10,754
Income before income taxes	29,525	43,691
Income tax expense	10,201	15,500
Net income	$19,324	$28,191
Basic net income per share	$0.47	$0.66
Diluted net income per share	$0.47	$0.65
Weighted average shares outstanding:	'	'
Basic	41,084,853	42,815,418
Diluted	41,260,122	43,220,337

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	3-May-14	4-May-13
Statement Of Income And Comprehensive Income [Abstract]	'	'
Net income	$19,324	$28,191
Other comprehensive income:	'	'
Defined benefit plan adjustments, net of $992 and $1,224 income taxes for the three months ended May 3, 2014 and May 4, 2013, respectively.	1,672	2,062
Total other comprehensive income	1,672	2,062
Total comprehensive income	$20,996	$30,253

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	3-May-14	4-May-13
Statement Of Income And Comprehensive Income [Abstract]	'	'
Net of income taxes on defined benefit plan adjustments	$992	$1,224

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (Unaudited) (USD $)	3-May-14	Feb. 01, 2014
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$219,416	$295,334
Accounts receivable, net	59,456	55,340
Merchandise inventory	1,047,755	987,778
Prepaid income taxes, expenses and other current assets	31,063	28,964
Total current assets	1,357,690	1,367,416
Property and equipment, net of accumulated depreciation and amortization of $1,517,769 and $1,487,140 as of May 3, 2014 and February 1, 2014, respectively.	1,180,740	1,158,066
Other assets	42,270	39,156
Total assets	2,580,700	2,564,638
Current liabilities:	'	'
Accounts payable	318,381	291,948
Accrued liabilities	245,704	239,658
Accrued income taxes	9,567	13,652
Deferred income taxes	34,918	33,422
Current installments of long-term debt and capital lease obligations	8,009	8,084
Total current liabilities	616,579	586,764
Deferred income taxes	15,673	16,613
Long-term debt and capital lease obligations, excluding current installments	383,738	385,673
Retirement obligations and other noncurrent liabilities	215,425	217,343
Total liabilities	1,231,415	1,206,393
Stockholders' equity:	'	'
Preferred stock	'	'
Common stock, 400 million shares authorized and 41.2 and 41.0 million shares issued and outstanding as of May 3, 2014 and February 1, 2014, respectively.	412	410
Paid-in capital	181,368	178,362
Retained earnings	1,302,156	1,315,796
Accumulated other comprehensive loss	-134,651	-136,323
Total stockholders' equity	1,349,285	1,358,245
Total liabilities and stockholders' equity	$2,580,700	$2,564,638

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $)	3-May-14	Feb. 01, 2014
In Thousands, except Share data, unless otherwise specified
Statement Of Financial Position [Abstract]	'	'
Accumulated depreciation and amortization on property and equipment	$1,517,769	$1,487,140
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	41,205,000	40,991,000
Common stock, shares outstanding	41,205,000	40,991,000

Condensed_Consolidated_Stateme3

Condensed Consolidated Statement of Changes in Stockholders' Equity (Unaudited) (USD $)	Total	Common Stock [Member]	Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
In Thousands
Balance at Feb. 01, 2014	$1,358,245	$410	$178,362	$1,315,796	($136,323)
Balance, shares at Feb. 01, 2014	'	40,991	'	'	'
Net income	19,324	'	'	19,324	'
Other comprehensive income	1,672	'	'	'	1,672
Cash dividends	-32,964	'	'	-32,964	'
Issuance of stock-based compensation	934	'	934	'	'
Stock-based compensation expense	2,072	'	2,072	'	'
Common stock issued	2	2	'	'	'
Common stock issued, shares	'	214	'	'	'
Balance at May. 03, 2014	$1,349,285	$412	$181,368	$1,302,156	($134,651)
Balance, shares at May. 03, 2014	'	41,205	'	'	'

Condensed_Consolidated_Stateme4

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	3-May-14	4-May-13
Cash flows from operating activities:	'	'
Net income	$19,324	$28,191
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Asset impairment and exit costs	788	743
Deferred income tax expense	328	3,496
Depreciation and amortization expense	36,689	32,020
Stock-based compensation expense	2,235	4,412
Gain on sale of property and equipment	70	135
Amortization of deferred gain on sale and leaseback	-657	-657
Amortization of deferred debt issuance costs	207	207
Increase in:	'	'
Accounts receivable, net	-4,116	-5,483
Merchandise inventory	-59,977	-25,921
Prepaid income taxes, expenses and other assets	-5,986	-10,088
Increase (decrease) in:	'	'
Accounts payable and accrued liabilities	32,026	27,102
Accrued income taxes	-4,085	-12,614
Retirement obligations and other liabilities	809	-25,406
Net cash provided by operating activities	17,655	16,137
Cash flows from investing activities:	'	'
Purchases of property and equipment	-52,657	-49,688
Proceeds from sales of property and equipment	50	64
Net cash used by investing activities	-52,607	-49,624
Cash flows from financing activities:	'	'
Principal payments on long-term debt and capital lease obligations	-2,010	-2,068
Dividends paid	-32,964	'
Stock compensation tax benefit	357	1,644
Cash paid for withholding taxes in lieu of stock-based compensation shares	-6,349	-8,970
Net cash used by financing activities	-40,966	-9,394
Net decrease in cash and cash equivalents	-75,918	-42,881
Cash and cash equivalents at beginning of period	295,334	269,177
Cash and cash equivalents at end of period	219,416	226,296
Supplemental disclosures of cash flow information:	'	'
Income taxes paid	14,854	24,361
Interest paid, net of capitalized interest	4,492	4,529
Supplemental schedule of noncash investing activities:	'	'
Increase in property and equipment through accrued purchases	$5,970	$9,089

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	3-May-14
Accounting Policies [Abstract]	'
Basis of Presentation	'
	(1) Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements of Belk, Inc. and subsidiaries (the “Company”) have been prepared in accordance with the instructions to Form 10-Q promulgated by the United States Securities and Exchange Commission (“SEC”) and should be read in conjunction with our Annual Report on Form 10-K for the fiscal year ended February 1, 2014. In the opinion of management, this information is fairly presented and all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation of the results for the interim periods have been included; however, certain items are included in these statements based on estimates for the entire year. Also, operating results for the three months ended May 3, 2014 may not be indicative of the operating results that may be expected for the full fiscal year.

New_Accounting_Pronouncements

New Accounting Pronouncements	3 Months Ended
	3-May-14
Accounting Changes And Error Corrections [Abstract]	'
New Accounting Pronouncements	'
	(2) New Accounting Pronouncements
	In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2013-11, “Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (a consensus of the FASB Emerging Issues Task Force),” which requires presentation in the financial statements of an unrecognized tax benefit, or a portion of an unrecognized tax benefit as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. To the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The Company adopted this guidance beginning in the first quarter of fiscal year 2015 when it was required. The adoption of this update did not have a material effect on the Company’s condensed consolidated results of operations, financial position or cash flows.
	In January 2013, the FASB issued Accounting Standards Update No. 2013-04, “Liabilities (Topic 405): Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation is Fixed at the Reporting Date (a consensus of the FASB Emerging Issues Task Force),” which requires measurement of obligations within the scope of this guidance to be the sum of the amount agreed to pay on the basis of arrangement among co-obligors and any additional amounts expected to pay on behalf of co-obligors, in addition to disclosure of the nature and amount of the obligation. The Company adopted this guidance beginning in the first quarter of fiscal year 2015 when it was required. The adoption of this update did not have a material effect on the Company’s condensed consolidated results of operations, financial position or cash flows.

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Loss	3 Months Ended
	3-May-14
Equity [Abstract]	'
Accumulated Other Comprehensive Loss	'
	(3) Accumulated Other Comprehensive Loss
	As of May 3, 2014 and February 1, 2014, the accumulated other comprehensive loss for defined benefit plans was $134.7 million and $136.3 million, respectively. These amounts are net of income taxes of $81.3 million and $82.3 million at May 3, 2014 and February 1, 2014, respectively.
	As of May 3, 2014 and May 4, 2013, the Company reclassified $1.7 million and $2.1 million of amortization of defined benefit plan liabilities from accumulated comprehensive income to selling, general and administrative expenses on the condensed consolidated statements of income, respectively. These amounts are net of income taxes of $1.0 million and $1.2 million at May 3, 2014 and May 4, 2013, respectively.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	3-May-14
Fair Value Disclosures [Abstract]	'
Fair Value Measurements	'
	(4) Fair Value Measurements
	Fair value is the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants on the measurement date. The Company uses a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets for identical assets and liabilities; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.
	The Company has equity and fixed income investments related to its company-owned life insurance. The fair value of the investments is the estimated amount that the Company would receive if the policy was terminated, taking into consideration the current creditworthiness of the insurer. The fair value of the company-owned life insurance is considered Level 2, as it is determined by inputs that are readily available in public markets or can be derived from information available in publicly quoted markets. Additionally, the change in the fair value of the company-owned life insurance is marked to market through income.
	As of May 3, 2014 and February 1, 2014, the Company held company-owned life insurance measured at fair value on a recurring basis of $31.7 million and $27.3 million, respectively. These amounts are presented net of loans that are secured by some of these policies of $157.9 million at both May 3, 2014 and February 1, 2014, respectively. Total gross company-owned life insurance assets were $189.6 million and $185.2 million at May 3, 2014 and February 1, 2014, respectively.
	Certain long-lived assets are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments only in certain circumstances (for example, when there is evidence of impairment). The fair value measurements related to long-lived assets are determined using expected future cash flow analyses. The Company estimates future cash flows based on historical experience and its expectation of future performance. The analyses use discounted cash flows and take into consideration any anticipated salvage value or sales price for the store. The analyses also assume available option periods through 20 years unless there is a real estate related event which would either increase or decrease the time period. The Company classifies these measurements as Level 3. There were no significant impairments of long-lived assets for the three months ended May 3, 2014 and May 4, 2013.
	As of May 3, 2014 and February 1, 2014, the fair value of fixed rate long-term debt, including the current portion and excluding capitalized leases, was $396.5 million and $393.1 million, respectively. The Company classifies these measurements as Level 2. The fair value of the Company’s fixed rate long-term debt is estimated based on the current rates offered for debt of the same remaining maturities and credit ratings. The total carrying value of long-term debt, including the current portion and excluding capitalized leases, was $375.0 million as of May 3, 2014 and February 1, 2014.

Income_Taxes

Income Taxes	3 Months Ended
	3-May-14
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	(5) Income Taxes
	Income tax expense for the three months ended May 3, 2014 was $10.2 million, or 34.6% of pre-tax income, compared to $15.5 million, or 35.5% of pre-tax income, for the three months ended May 4, 2013. The decrease in income tax expense was due primarily to the decrease in income before income taxes for the three months ended May 3, 2014.

Pension_SERP_and_Postretiremen

Pension, SERP and Postretirement Benefits	3 Months Ended
	3-May-14
Compensation And Retirement Disclosure [Abstract]	'
Pension, SERP and Postretirement Benefits	'
	(6) Pension, SERP and Postretirement Benefits
	The Company has a defined benefit pension plan, the Belk Pension Plan, which prior to fiscal year 2010 had been partially frozen and closed to new participants. Pension benefits were suspended for fiscal year 2010, and effective December 31, 2009, the Pension Plan was frozen for those remaining participants whose benefits were not previously frozen.
	The Company has a non-qualified defined benefit Supplemental Executive Retirement Plan, (“Old SERP”), which provides retirement and death benefits to certain qualified executives. Old SERP has been closed to new executives and has been replaced by the 2004 Supplemental Executive Retirement Plan (“2004 SERP”), a non-qualified defined contribution plan.
	The Company also provides postretirement medical and life insurance benefits to certain employees, and was closed to new participants in 2002. The Company accounts for postretirement benefits by recognizing the cost of these benefits over an employee’s estimated term of service with the Company, in accordance with ASC 715, “Compensation – Retirement Benefits.”
	The components of net periodic benefit expense for these plans are as follows:
		Three Months Ended
		Pension Plan						Old SERP Plan				Postretirement Plan
		May 3,			May 4,			May 3,		May 4,		May 3,			May 4,
		2014			2013			2014		2013		2014			2013
								(in thousands)
	Service cost	$	—		$	—		$	39	$	41	$	19		$	30
	Interest cost		5,986			5,691			133		129		206			228
	Expected return on plan assets		(7,530	)		(7,138	)		—		—		—			—
	Amortization of net loss (gain)		2,547			3,123			127		132		(10	)		31
	Net periodic benefit expense	$	1,003		$	1,676		$	299	$	302	$	215		$	289
	The Company does not expect to make contributions to the Pension Plan during fiscal year 2015. During the three months ended May 4, 2013, the Company made a discretionary contribution to its Pension Plan of $25.0 million.

Earnings_Per_Share

Earnings Per Share	3 Months Ended
	3-May-14
Earnings Per Share [Abstract]	'
Earnings Per Share	'
	(7) Earnings per Share
	Basic earnings per share (“EPS”) is computed by dividing net income by the weighted-average number of shares of common stock outstanding for the period. The diluted EPS calculation includes the effect of contingently issuable stock-based compensation awards with remaining service vesting conditions as being outstanding at the beginning of the period in which all vesting conditions are met.
	If all necessary conditions have not been satisfied by the end of the period, the contingently issuable shares included in diluted EPS are based on the number of dilutive shares that would be issuable at the end of the contingency period. Contingently-issuable non-vested share awards are included in the diluted EPS calculation as of the beginning of the period (or as of the date of the contingent share agreement, if later).
	The reconciliation of basic and diluted shares for the three months ended May 3, 2014 and May 4, 2013, are as follows:
		Three Months Ended
		May 3,		May 4,
		2014		2013
	Basic Shares		41,084,853		42,815,418
	Dilutive contingently-issuable non-vested share awards		174,601		404,588
	Dilutive contingently-issuable vested share awards		668		331
	Diluted Shares		41,260,122		43,220,337

Repurchase_of_Common_Stock

Repurchase of Common Stock	3 Months Ended
	3-May-14
Text Block [Abstract]	'
Repurchase of Common Stock	'
	(8) Repurchase of Common Stock
	On March 26, 2014, the Company’s Board of Directors approved a self-tender offer to purchase up to 1,500,000 shares of Class A and 580,000 shares of Class B common stock at a price of $48.10 per share. The tender offer was initiated on April 24, 2014 and completed on May 21, 2014 when the Company accepted for purchase 1,704,754 shares of Class A and 256,257 shares of Class B common stock for $94.3 million.

New_Accounting_Pronouncements_

New Accounting Pronouncements (Policies)	3 Months Ended
	3-May-14
Accounting Changes And Error Corrections [Abstract]	'
New Accounting Pronouncements	'
	In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2013-11, “Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (a consensus of the FASB Emerging Issues Task Force),” which requires presentation in the financial statements of an unrecognized tax benefit, or a portion of an unrecognized tax benefit as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. To the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The Company adopted this guidance beginning in the first quarter of fiscal year 2015 when it was required. The adoption of this update did not have a material effect on the Company’s condensed consolidated results of operations, financial position or cash flows.
	In January 2013, the FASB issued Accounting Standards Update No. 2013-04, “Liabilities (Topic 405): Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation is Fixed at the Reporting Date (a consensus of the FASB Emerging Issues Task Force),” which requires measurement of obligations within the scope of this guidance to be the sum of the amount agreed to pay on the basis of arrangement among co-obligors and any additional amounts expected to pay on behalf of co-obligors, in addition to disclosure of the nature and amount of the obligation. The Company adopted this guidance beginning in the first quarter of fiscal year 2015 when it was required. The adoption of this update did not have a material effect on the Company’s condensed consolidated results of operations, financial position or cash flows.

Pension_SERP_and_Postretiremen1

Pension, SERP and Postretirement Benefits (Tables)	3 Months Ended
	3-May-14
Compensation And Retirement Disclosure [Abstract]	'
Schedule of Net Periodic Benefit Expense	'
	The components of net periodic benefit expense for these plans are as follows:
		Three Months Ended
		Pension Plan						Old SERP Plan				Postretirement Plan
		May 3,			May 4,			May 3,		May 4,		May 3,			May 4,
		2014			2013			2014		2013		2014			2013
								(in thousands)
	Service cost	$	—		$	—		$	39	$	41	$	19		$	30
	Interest cost		5,986			5,691			133		129		206			228
	Expected return on plan assets		(7,530	)		(7,138	)		—		—		—			—
	Amortization of net loss (gain)		2,547			3,123			127		132		(10	)		31
	Net periodic benefit expense	$	1,003		$	1,676		$	299	$	302	$	215		$	289

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	3 Months Ended
	3-May-14
Earnings Per Share [Abstract]	'
Reconciliation of Basic and Diluted Shares	'
	The reconciliation of basic and diluted shares for the three months ended May 3, 2014 and May 4, 2013, are as follows:
		Three Months Ended
		May 3,		May 4,
		2014		2013
	Basic Shares		41,084,853		42,815,418
	Dilutive contingently-issuable non-vested share awards		174,601		404,588
	Dilutive contingently-issuable vested share awards		668		331
	Diluted Shares		41,260,122		43,220,337

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Loss - Additional Information (Detail) (USD $)	3 Months Ended
In Millions, unless otherwise specified	3-May-14	4-May-13	Feb. 01, 2014
Equity [Abstract]	'	'	'
Accumulated other comprehensive loss for defined benefit plans	$134.70	'	$136.30
Income taxes on accumulated other comprehensive loss for defined benefit plans	81.3	'	82.3
Amount reclassified from accumulated comprehensive income	1.7	2.1	'
Amount reclassified from accumulated comprehensive income, tax effect	$1	$1.20	'

Fair_Value_Measurements_Additi

Fair Value Measurements - Additional Information (Detail) (USD $)	3 Months Ended
In Millions, unless otherwise specified	3-May-14	4-May-13	Feb. 01, 2014
Fair Value Disclosures [Abstract]	'	'	'
Life Insurance Corporate or Bank Owned Fair Value Amount	$31.70	'	$27.30
Loans secured by company-owned life insurance	157.9	'	157.9
Company-owned life insurance assets, gross	189.6	'	185.2
Available option period	'20 years	'	'
Impairment charges related to retail location	0	0	'
Fair value of fixed rate long-term debt	396.5	'	393.1
Carrying value of long-term debt	$375	'	$375

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	3-May-14	4-May-13
Income Tax Disclosure [Abstract]	'	'
Income tax expense	$10,201	$15,500
Income tax expense, percentage	34.60%	35.50%

Pension_SERP_and_Postretiremen2

Pension, SERP and Postretirement Benefits - Schedule of Net Periodic Benefit Expense (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	3-May-14	4-May-13
Pension Plan [Member]	'	'
Defined Benefit Plan Disclosure [Line Items]	'	'
Interest cost	$5,986	$5,691
Expected return on plan assets	-7,530	-7,138
Amortization of net loss (gain)	2,547	3,123
Net periodic benefit expense	1,003	1,676
Old SERP Plan [Member]	'	'
Defined Benefit Plan Disclosure [Line Items]	'	'
Service cost	39	41
Interest cost	133	129
Amortization of net loss (gain)	127	132
Net periodic benefit expense	299	302
Postretirement Plan [Member]	'	'
Defined Benefit Plan Disclosure [Line Items]	'	'
Service cost	19	30
Interest cost	206	228
Amortization of net loss (gain)	-10	31
Net periodic benefit expense	$215	$289

Pension_SERP_and_Postretiremen3

Pension, SERP and Postretirement Benefits - Additional Information (Detail) (Pension Plan [Member], USD $)	3 Months Ended
In Millions, unless otherwise specified	4-May-13
Pension Plan [Member]	'
Defined Benefit Plan Disclosure [Line Items]	'
Employer contribution to Pension Plan	$25

Earnings_Per_Share_Reconciliat

Earnings Per Share - Reconciliation of Basic and Diluted Shares (Detail)	3 Months Ended
	3-May-14	4-May-13
Earnings Per Share [Abstract]	'	'
Basic Shares	41,084,853	42,815,418
Dilutive contingently-issuable non-vested share awards	174,601	404,588
Dilutive contingently-issuable vested share awards	668	331
Diluted Shares	41,260,122	43,220,337

Repurchase_of_Common_Stock_Add

Repurchase of Common Stock - Additional Information (Detail) (USD $)	Mar. 26, 2014	21-May-14	Mar. 26, 2014	21-May-14	Mar. 26, 2014	21-May-14
In Millions, except Share data, unless otherwise specified	Common Stock [Member]	Subsequent Event [Member]	Class A Common Stock [Member]	Class A Common Stock [Member]	Class B Common Stock [Member]	Class B Common Stock [Member]
				Subsequent Event [Member]		Subsequent Event [Member]
Self tender offer to repurchase, maximum	'	'	1,500,000	'	580,000	'
Price per share of shares purchased under self-tender offer	$48.10	'	'	'	'	'
Purchase of common shares	'	'	'	1,704,754	'	256,257
Stock repurchase cost	'	$94.30	'	'	'	'