Target (TGT) 10-Q 20 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Oct. 28, 2017	Nov. 14, 2017
Document and Entity Information
Entity Registrant Name	TARGET CORP
Entity Central Index Key	27,419
Document Type	10-Q
Document Period End Date	Oct. 28, 2017
Amendment Flag	false
Current Fiscal Year End Date	--02-03
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		543,572,649
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions		3 Months Ended		9 Months Ended
		Oct. 28, 2017	Oct. 29, 2016	Oct. 28, 2017	Oct. 29, 2016
Income Statement [Abstract]
Sales		$ 16,667	$ 16,441	$ 49,113	$ 48,805
Cost of sales (a)	[1]	11,712	11,536	34,330	33,957
Gross margin		4,955	4,905	14,783	14,848
Selling, general and administrative expenses		3,512	3,339	10,027	9,741
Depreciation and amortization (exclusive of depreciation included in cost of sales) (a)		574	505	1,596	1,486
Earnings from continuing operations before interest expense and income taxes		869	1,061	3,160	3,621
Net interest expense		254	142	532	864
Earnings from continuing operations before income taxes		615	919	2,628	2,757
Provision for income taxes		137	311	802	910
Net earnings from continuing operations		478	608	1,826	1,847
Discontinued operations, net of tax		2	0	7	73
Net earnings		$ 480	$ 608	$ 1,833	$ 1,920
Basic earnings per share
Continuing operations (in dollars per share)		$ 0.88	$ 1.07	$ 3.33	$ 3.16
Discontinued operations (in dollars per share)		0	0	0.01	0.12
Net earnings per share (in dollars per share)		0.88	1.07	3.34	3.29
Diluted earnings per share
Continuing operations (in dollars per share)		0.87	1.06	3.31	3.14
Discontinued operations (in dollars per share)		0	0	0.01	0.12
Net earnings per share (in dollars per share)		$ 0.88	$ 1.06	$ 3.32	$ 3.26
Weighted average common shares outstanding
Basic (in shares)		544.5	570.1	548.7	583.5
Dilutive impact of share-based awards (in shares)		3.4	4.7	3.1	5
Diluted (in shares)		547.9	574.8	551.8	588.5
Antidilutive shares (in shares)		4.5	0.2	4.1	0.1
Dividends declared per share (in dollars per share)		$ 0.62	$ 0.6	$ 1.84	$ 1.76
[1]	Refer to Note 3 for information about a reclassification of supply chain-related depreciation expense to cost of sales.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 28, 2017	Oct. 29, 2016	Oct. 28, 2017	Oct. 29, 2016
Statement of Comprehensive Income [Abstract]
Net earnings	$ 480	$ 608	$ 1,833	$ 1,920
Other comprehensive income
Pension and other benefit liabilities, net of taxes of $5, $3, $15 and $11	8	6	22	17
Currency translation adjustment and cash flow hedges, net of taxes of $1, $1, $2, and $2	(2)	0	6	5
Other comprehensive income	6	6	28	22
Comprehensive income	$ 486	$ 614	$ 1,861	$ 1,942

Consolidated Statements of Com4

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 28, 2017	Oct. 29, 2016	Oct. 28, 2017	Oct. 29, 2016
Statement of Comprehensive Income [Abstract]
Pension and other benefit liabilities, taxes	$ 5	$ 3	$ 15	$ 11
Currency translation adjustment and cash flow hedges, taxes	$ 1	$ 1	$ 2	$ 2

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($) $ in Millions	Oct. 28, 2017	Jan. 28, 2017	Oct. 29, 2016
Assets
Cash and cash equivalents	$ 2,725	$ 2,512	$ 1,231
Inventory	10,586	8,309	10,057
Assets of discontinued operations	6	69	62
Other current assets	1,392	1,100	1,492
Total current assets	14,709	11,990	12,842
Property and equipment
Land	6,087	6,106	6,106
Buildings and improvements	28,310	27,611	27,518
Fixtures and equipment	5,548	5,503	5,467
Computer hardware and software	2,658	2,651	2,538
Construction-in-progress	389	200	219
Accumulated depreciation	(17,880)	(17,413)	(16,946)
Property and equipment, net	25,112	24,658	24,902
Noncurrent assets of discontinued operations	9	12	17
Other noncurrent assets	878	771	842
Total assets	40,708	37,431	38,603
Liabilities and shareholders’ investment
Accounts payable	9,986	7,252	8,250
Accrued and other current liabilities	4,036	3,737	3,662
Current portion of long-term debt and other borrowings	1,354	1,718	729
Total current liabilities	15,376	12,707	12,641
Long-term debt and other borrowings	11,277	11,031	12,097
Deferred income taxes	944	861	920
Liabilities of discontinued operations	11	19	19
Other noncurrent liabilities	1,963	1,860	1,857
Total noncurrent liabilities	14,195	13,771	14,893
Shareholders’ investment
Common stock	45	46	47
Additional paid-in capital	5,762	5,661	5,598
Retained earnings	5,940	5,884	6,031
Accumulated other comprehensive loss	(610)	(638)	(607)
Total shareholders’ investment	11,137	10,953	11,069
Total liabilities and shareholders’ investment	$ 40,708	$ 37,431	$ 38,603

Consolidated Statements of Fin6

Consolidated Statements of Financial Position (Parenthetical) - $ / shares	Oct. 28, 2017	Jan. 28, 2017	Oct. 29, 2016
Statement of Financial Position [Abstract]
Common stock, shares authorized	6,000,000,000	6,000,000,000	6,000,000,000
Common stock, par value (in dollars per share)	$ 0.0833	$ 0.0833	$ 0.0833
Common stock, shares issued	543,913,318	556,156,228	563,676,785
Common stock, shares outstanding	543,913,318	556,156,228	563,676,785
Preferred stock, shares authorized	5,000,000	5,000,000	5,000,000
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Preferred stock, shares issued	0	0	0
Preferred stock, shares outstanding	0	0	0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Oct. 28, 2017	Oct. 29, 2016
Operating activities
Net earnings	$ 1,833	$ 1,920
Earnings from discontinued operations, net of tax	7	73
Net earnings from continuing operations	1,826	1,847
Adjustments to reconcile net earnings to cash provided by operations
Depreciation and amortization	1,784	1,686
Share-based compensation expense	81	85
Deferred income taxes	37	83
Loss on debt extinguishment	123	422
Noncash losses / (gains) and other, net	189	(5)
Changes in operating accounts
Inventory	(2,277)	(1,455)
Other assets	(89)	(14)
Accounts payable	2,738	832
Accrued and other liabilities	2	(711)
Cash provided by operating activities—continuing operations	4,414	2,770
Cash provided by operating activities—discontinued operations	75	111
Cash provided by operations	4,489	2,881
Investing activities
Expenditures for property and equipment	(2,049)	(1,184)
Proceeds from disposal of property and equipment	27	23
Other investments	(62)	23
Cash required for investing activities	(2,084)	(1,138)
Financing activities
Change in commercial paper, net	0	89
Additions to long-term debt	739	1,977
Reductions of long-term debt	(1,087)	(2,625)
Dividends paid	(1,001)	(1,011)
Repurchase of stock	(757)	(3,034)
Prepayment of accelerated share repurchase	111	120
Stock option exercises	25	166
Cash required for financing activities	(2,192)	(4,558)
Net increase / (decrease) in cash and cash equivalents	213	(2,815)
Cash and cash equivalents at beginning of period	2,512	4,046
Cash and cash equivalents at end of period	$ 2,725	$ 1,231

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Investment - USD ($) $ in Millions	3 Months Ended	9 Months Ended		12 Months Ended
	Oct. 28, 2017	Oct. 28, 2017	Oct. 29, 2016	Jan. 28, 2017
Increase (Decrease) in Shareholders' Investment
Beginning balance (in shares)		556,156,228
Beginning balance		$ 10,953	$ 12,957	$ 12,957
Net earnings	$ 480	1,833	1,920	2,737
Other comprehensive loss	$ 6	28	$ 22	(9)
Dividends declared		(1,016)		(1,359)
Repurchase of stock		(751)		(3,686)
Stock to be received upon settlement of ASR		(11)
Stock options and awards		$ 101		$ 313
Ending balance (in shares)	543,913,318	543,913,318	563,676,785	556,156,228
Ending balance	$ 11,137	$ 11,137	$ 11,069	$ 10,953
Common Stock
Increase (Decrease) in Shareholders' Investment
Beginning balance (in shares)		556,200,000	602,200,000	602,200,000
Beginning balance		$ 46	$ 50	$ 50
Repurchase of stock (in shares)		(13,300,000)		(50,900,000)
Repurchase of stock		$ (1)		$ (4)
Stock options and awards (in shares)		1,000,000		4,900,000
Stock options and awards		$ 0		$ 0
Ending balance (in shares)	543,900,000	543,900,000		556,200,000
Ending balance	$ 45	$ 45		$ 46
Additional Paid-in Capital
Increase (Decrease) in Shareholders' Investment
Beginning balance		5,661	5,348	5,348
Stock options and awards		101		313
Ending balance	5,762	5,762		5,661
Retained Earnings
Increase (Decrease) in Shareholders' Investment
Beginning balance		5,884	8,188	8,188
Net earnings		1,833		2,737
Dividends declared		(1,016)		(1,359)
Repurchase of stock		(750)		(3,682)
Stock to be received upon settlement of ASR		(11)
Ending balance	5,940	5,940		5,884
Accumulated Other Comprehensive(Loss)/Income
Increase (Decrease) in Shareholders' Investment
Beginning balance		(638)	$ (629)	(629)
Other comprehensive loss		28		(9)
Ending balance	$ (610)	$ (610)		$ (638)

Accounting Policies

Accounting Policies	9 Months Ended
	Oct. 28, 2017
Accounting Policies [Abstract]
Accounting Policies	Accounting Policies These financial statements should be read in conjunction with the financial statement disclosures in our 2016 Form 10-K. We use the same accounting policies in preparing quarterly and annual financial statements. All adjustments necessary for a fair presentation of quarterly operating results are reflected herein and are of a normal, recurring nature. Certain prior-year amounts have been reclassified to conform to the current year presentation. Note 3 provides more information about a reclassification of supply chain-related depreciation expense to cost of sales. Unless otherwise noted, amounts presented within the Notes to Consolidated Financial Statements refer to our continuing operations. Due to the seasonal nature of our business, quarterly revenues, expenses, earnings, and cash flows are not necessarily indicative of the results that may be expected for the full year.

Revenues

Revenues	9 Months Ended
	Oct. 28, 2017
Accounting Changes and Error Corrections [Abstract]
Revenues	Revenues In May 2014, the FASB issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers (Topic 606). We plan to adopt the standard in the first quarter of fiscal 2018 using the full retrospective approach. We do not expect the standard to materially affect our consolidated net earnings, financial position, or cash flows. We expect minor changes to the timing of recognition of revenues related to promotional gift cards. We are nearly complete with our evaluation of the impact the standard has on our determination of whether we act as principal or agent in certain vendor arrangements where the purchase and sale of inventory are virtually simultaneous. We record revenue and related costs on a gross basis for the vast majority of these arrangements, which represent approximately 3 percent of our consolidated sales. We expect to conclude that we should continue to record these transactions on a gross basis. We expect to present certain other income streams, including credit card profit sharing income, in an other revenue line on our Consolidated Statements of Operations upon adoption.

Cost of Sales and Selling, Gene

Cost of Sales and Selling, General and Administrative Expenses	9 Months Ended
	Oct. 28, 2017
Accounting Changes and Error Corrections [Abstract]
Cost of Sales and Selling, General and Administrative Expenses	Cost of Sales and Selling, General and Administrative Expenses Beginning in the second quarter of 2017, we reclassified supply chain-related depreciation expense to cost of sales whereas it was previously included in depreciation and amortization on our Consolidated Statements of Operations. We reclassified prior year amounts to reflect this change. This reclassification increased cost of sales by $60 million and $189 million for the three and nine months ended October 28, 2017, respectively, and $65 million and $200 million for the three and nine months ended October 29, 2016, respectively, with equal and offsetting decreases to depreciation and amortization. This reclassification had no impact on sales, earnings before interest expense and income taxes, net earnings or earnings per share. The following table illustrates the primary items classified in each major expense category: Cost of Sales Selling, General and Administrative Expenses Total cost of products sold including: Compensation and benefit costs for stores and Advertising, offset by vendor income that is a rd party bank issued Note: The classification of these expenses varies across the retail industry.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Oct. 28, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value measurements are reported in one of three levels reflecting the valuation techniques used to determine fair value. Fair Value Measurements - Recurring Basis Fair Value at (millions) Pricing Category October 28, January 28, October 29, Assets Cash and cash equivalents Short-term investments held by U.S. entities Level 1 $ 953 $ 1,110 $ — Short-term investments held by entities located outside the U.S. (a) Level 1 1,050 762 514 Other current assets Prepaid forward contracts Level 1 30 26 28 Beneficial interest asset Level 3 3 12 10 Interest rate swaps (b) Level 2 — 1 — Other noncurrent assets Interest rate swaps (b) Level 2 1 4 19 Beneficial interest asset Level 3 — — 5 (a) Amounts may be subject to tax if repatriated. (b) See Note 8 for additional information on interest rate swaps. Significant Financial Instruments not Measured at Fair Value (a) (millions) October 28, 2017 January 28, 2017 October 29, 2016 Carrying Amount Fair Value Carrying Amount Fair Value Carrying Amount Fair Value Debt (b) $ 11,522 $ 12,403 $ 11,715 $ 12,545 $ 11,802 $ 13,171 (a) The carrying amounts of certain other current assets, accounts payable, and certain accrued and other current liabilities approximate fair value due to their short-term nature. (b) The carrying amount and estimated fair value of debt exclude unamortized swap valuation adjustments and capital lease obligations.

Cash and Cash Equivalents

Cash and Cash Equivalents	9 Months Ended
	Oct. 28, 2017
Cash and Cash Equivalents [Abstract]
Cash and Cash Equivalents	Cash and Cash Equivalents Cash equivalents include highly liquid investments with an original maturity of three months or less from the time of purchase. Cash equivalents also include amounts due from third-party financial institutions for credit and debit card transactions, which typically settle in 5 days or less. (millions) October 28, January 28, October 29, Cash held by U.S. entities $ 242 $ 257 $ 247 Cash held by entities located outside the U.S. (a) 34 17 35 Short-term investments held by U.S. entities 953 1,110 — Short-term investments held by entities located outside the U.S. (a) 1,050 762 514 Receivables from third-party financial institutions for credit and debit card transactions 446 366 435 Cash and cash equivalents $ 2,725 $ 2,512 $ 1,231 (a) Amounts may be subject to tax if repatriated.

Property and Equipment

Property and Equipment	9 Months Ended
	Oct. 28, 2017
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment We review long-lived assets for impairment when events or changes in circumstances—such as a decision to relocate or close a store or distribution center, make significant software changes or discontinue projects—indicate that the asset’s carrying value may not be recoverable. We recognized impairment losses of $1 million and $89 million during the three and nine months ended October 28, 2017 , respectively, primarily resulting from planned or completed store closures and supply chain changes for the nine month period. Storm-related write-offs of property and equipment, net of insurance recoveries, were immaterial. We recognized impairment losses of $9 million and $37 million during the three and nine months ended October 29, 2016 , respectively, primarily resulting from planned or completed store closures. The impairments are recorded in selling, general and administrative expense on the Consolidated Statements of Operations and are included in segment results.

Notes Payable and Long-Term Deb

Notes Payable and Long-Term Debt	9 Months Ended
	Oct. 28, 2017
Debt Disclosure [Abstract]
Notes Payable and Long-Term Debt	Notes Payable and Long-Term Debt In October 2017, we issued unsecured fixed rate debt of $750 million at 3.9% that matures in November 2047. During the three months ended October 28, 2017, we repurchased $344 million of debt before its maturity at a market value of $463 million . We recognized a loss on early retirement of approximately $123 million , which was recorded in net interest expense in our Consolidated Statements of Operations. In May 2017, we used cash on hand to repay $598 million of debt at its maturity. In April 2016, we issued unsecured fixed rate debt of $1 billion at 2.5% that matures in April 2026 and $1 billion at 3.625% that matures in April 2046. During the first and second quarter of 2016, we repurchased $565 million and $824 million of debt, respectively, before its maturity at a market value of $820 million and $981 million , respectively. We recognized a loss on early retirement of approximately $261 million and $161 million in first and second quarter of 2016, respectively, which was recorded in net interest expense in our Consolidated Statements of Operations.

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Oct. 28, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments Our derivative instruments primarily consist of interest rate swaps, which we use to mitigate interest rate risk. As a result of our use of derivative instruments, we have counterparty credit exposure to large global financial institutions. We monitor this concentration of counterparty credit risk on an ongoing basis. See Note 4 for a description of the fair value measurement of our derivative instruments and their classification on the Consolidated Statements of Financial Position. As of October 28, 2017 and October 29, 2016 , interest rate swaps with notional amounts totaling $1,000 million were designated fair value hedges. No ineffectiveness was recognized during the three and nine months ended October 28, 2017 or October 29, 2016 . As of October 28, 2017 and October 29, 2016 , one interest rate swap with a notional amount of $250 million was not designated a fair value hedge because it was de-designated concurrent with the repurchase of debt during the first half of 2016. We recorded income of $2 million and $8 million during the three and nine months ended October 28, 2017 , respectively, and $5 million and $21 million during the three and nine months ended October 29, 2016 , respectively, within net interest expense on our Consolidated Statements of Operations related to periodic payments, valuation adjustments, and amortization of gains or losses on our interest rate swaps.

Leases

Leases	9 Months Ended
	Oct. 28, 2017
Accounting Changes and Error Corrections [Abstract]
Leases	Leases In February 2016, the FASB issued ASU No. 2016-02, Leases. The new standard requires lessees to record assets and liabilities on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. We must adopt the standard no later than the first quarter of 2019, which begins on February 3, 2019. A modified retrospective transition approach is required for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. We plan to adopt the standard in the first quarter of 2018. We will take advantage of the transition package of practical expedients permitted within the new standard, which among other things, allows us to carryforward the historical lease classification. In addition, we are electing the hindsight practical expedient to determine the reasonably certain lease term for existing leases. While lease classification will remain unchanged, hindsight will result in generally shorter accounting lease terms and useful lives of the corresponding leasehold improvements. We will make an accounting policy election that will keep leases with an initial term of 12 months or less off of the balance sheet and will result in recognizing those lease payments in the Consolidated Statements of Operations on a straight-line basis over the lease term. While we are continuing to assess all potential impacts of the standard, we expect total liabilities to increase by $1.3 - $1.5 billion , with an offsetting increase to leased assets of $1.2 - $1.4 billion as of the date of adoption. The difference between these amounts will be recorded as an adjustment to retained earnings. We do not believe the standard will materially affect our consolidated net earnings. These estimates — based on our current lease portfolio — may change as we continue to evaluate the new standard and as we implement a new lease accounting information system. The estimates could also change due to changes in the lease portfolio, which could include (a) lease volume, (b) lease commencement dates, and (c) renewal option and lease termination expectations. We will update our estimates each quarter as changes occur. We do not believe the new standard will have a notable impact on our liquidity. The standard will have no impact on our debt-covenant compliance under our current agreements.

Income Taxes

Income Taxes	9 Months Ended
	Oct. 28, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Three Months Ended Nine Months Ended (dollars in millions) October 28, October 29, October 28, October 29, Income tax expense $ 137 $ 311 $ 802 $ 910 Effective tax rate (a) 22.3 % 33.8 % 30.5 % 33.0 % (a) For the three months ended October 28, 2017, the income tax rate decreased 11.5% compared with the three months ended October 29, 2016. Benefits from our global sourcing operations drove 9.6 percentage points of the decline ( 3.7 percentage points of which is due to lower earnings before income taxes). This includes $55 million of prior-period discrete tax benefits primarily related to our global sourcing operations. For the nine months ended October 28, 2017, the income tax rate decreased 2.5% compared with the nine months ended October 29, 2016. Benefits from our global sourcing operations drove 2.7 percentage points of rate decline. This includes $56 million of prior-period discrete tax benefits primarily related to our global sourcing operations.

Share Repurchase

Share Repurchase	9 Months Ended
	Oct. 28, 2017
Equity [Abstract]
Share Repurchase	Share Repurchase Nine Months Ended (millions, except per share data) October 28, October 29, Total number of shares purchased 10.8 38.5 Average price paid per share $ 56.80 $ 72.87 Total investment $ 611 $ 2,807 Note: Accelerated share repurchase (ASR) activity in 2017 and 2016 is omitted because the transactions were not fully settled as of October 28, 2017 and October 29, 2016. During the third quarter of 2017, we entered into an ASR to repurchase $150 to $250 million of our common stock under the existing $5 billion share repurchase program. Under the agreement, we prepaid $250 million and received an initial delivery of 2.5 million shares, which were retired, resulting in a $139 million reduction to shareholders' investment. As of October 28, 2017, $11 million is included in the Consolidated Statement of Financial Position as an additional reduction to shareholders' investment because the minimum repurchase will be $150 million . The remaining $100 million is included in other current assets. The ASR is not accounted for as a derivative instrument. In November 2017, the ASR settled. We received an additional 0.3 million shares, which were retired, and $89 million for the remaining amount not settled in shares. In total, we repurchased 2.8 million shares under the ASR for a total cash investment of $161 million ( $57.78 per share). During the third quarter of 2016, we entered into an ASR to repurchase $250 to $350 million of our common stock. Under the agreement, we prepaid $350 million and received an initial delivery of 3.4 million shares, which were retired, resulting in a $230 million reduction to shareholders' investment. As of October 29, 2016, $20 million was included in the Consolidated Statement of Financial Position as an additional reduction to shareholders' investment because the minimum repurchase was $250 million . The remaining $100 million was included in other current assets. The ASR was not accounted for as a derivative instrument. In November 2016, the ASR settled. We received an additional 1.3 million shares, which were retired, and $36 million for the remaining amount not settled in shares. In total, we repurchased 4.6 million shares under the ASR for a total cash investment of $314 million ( $67.67 per share).

Pension Benefits

Pension Benefits	9 Months Ended
	Oct. 28, 2017
Compensation and Retirement Disclosure [Abstract]
Pension Benefits	Pension Benefits We provide pension plan benefits to certain eligible team members. Net Pension Benefits Expense Three Months Ended Nine Months Ended (millions) October 28, October 29, October 28, October 29, Service cost $ 21 $ 20 $ 63 $ 61 Interest cost 34 34 103 103 Expected return on assets (61 ) (64 ) (184 ) (193 ) Amortization of losses 15 12 45 37 Amortization of prior service cost (3 ) (2 ) (8 ) (8 ) Total $ 6 $ — $ 19 $ — In March 2017, the FASB issued ASU 2017-07, Compensation – Retirement Benefits (Topic 715) , which requires employers to disaggregate and present separately the current service cost component from the other components of net benefit cost within the Consolidated Statement of Operations. We plan to adopt the standard in the first quarter of fiscal 2018. We expect to reclassify the other components of net benefit cost to an other income and expense line on our Consolidated Statements of Operations upon adoption.

Accumulated Other Comprehensive

Accumulated Other Comprehensive (Loss) / Income	9 Months Ended
	Oct. 28, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive (Loss) / Income	Accumulated Other Comprehensive (Loss) / Income (millions) Cash Flow Hedges Currency Translation Adjustment Pension and Other Benefits Total January 28, 2017 $ (16 ) $ (21 ) $ (601 ) $ (638 ) Other comprehensive income before reclassifications — 3 1 4 Amounts reclassified from AOCI 3 (a) — 21 (b) 24 October 28, 2017 $ (13 ) $ (18 ) $ (579 ) $ (610 ) (a) Represents amortization of gains and losses on cash flow hedges, net of $2 million of taxes. (b) Represents amortization of pension and other benefit liabilities, net of $15 million of taxes.

Segment Reporting

Segment Reporting	9 Months Ended
	Oct. 28, 2017
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting Our segment measure of profit (segment earnings before interest expense and income taxes) is used by management to evaluate performance and make operating decisions. We operate as a single segment that includes all of our continuing operations, which are designed to enable guests to purchase products seamlessly in stores or through our digital channels. Virtually all of our consolidated revenues are generated in the United States. The vast majority of our long–lived assets are located within the United States. Business Segment Results Three Months Ended Nine Months Ended (millions) October 28, October 29, October 28, October 29, Sales $ 16,667 $ 16,441 $ 49,113 $ 48,805 Cost of sales (a) 11,712 11,536 34,330 33,957 Gross margin 4,955 4,905 14,783 14,848 Selling, general, and administrative expenses (c) 3,512 3,343 10,027 9,741 Depreciation and amortization (exclusive of depreciation included in cost of sales) (a) 574 505 1,596 1,486 Segment earnings before interest expense and income taxes 869 1,057 3,160 3,621 Pharmacy Transaction-related costs (b)(c) — 4 — — Earnings from continuing operations before interest expense and income taxes 869 1,061 3,160 3,621 Net interest expense 254 142 532 864 Earnings from continuing operations before income taxes $ 615 $ 919 $ 2,628 $ 2,757 Note: Amounts may not foot due to rounding. (a) Refer to Note 3 for information about the impact of a reclassification of supply chain-related depreciation expense. (b) Represents items related to the December 2015 sale of our former pharmacy and clinic businesses to CVS (Pharmacy Transaction). (c) The sum of segment SG&A expenses and Pharmacy Transaction-related costs equal consolidated SG&A expenses. Reconciliation of Segment Assets to Total Assets (millions) October 28, January 28, October 29, Segment assets $ 40,693 $ 37,350 $ 38,524 Assets of discontinued operations 15 81 79 Total assets $ 40,708 $ 37,431 $ 38,603

Accounting Policies (Policies)

Accounting Policies (Policies)	9 Months Ended
	Oct. 28, 2017
Accounting Policies [Abstract]
New Accounting Pronouncements	In May 2014, the FASB issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers (Topic 606). We plan to adopt the standard in the first quarter of fiscal 2018 using the full retrospective approach. We do not expect the standard to materially affect our consolidated net earnings, financial position, or cash flows. We expect minor changes to the timing of recognition of revenues related to promotional gift cards. We are nearly complete with our evaluation of the impact the standard has on our determination of whether we act as principal or agent in certain vendor arrangements where the purchase and sale of inventory are virtually simultaneous. We record revenue and related costs on a gross basis for the vast majority of these arrangements, which represent approximately 3 percent of our consolidated sales. We expect to conclude that we should continue to record these transactions on a gross basis. We expect to present certain other income streams, including credit card profit sharing income, in an other revenue line on our Consolidated Statements of Operations upon adoption. In February 2016, the FASB issued ASU No. 2016-02, Leases. The new standard requires lessees to record assets and liabilities on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. We must adopt the standard no later than the first quarter of 2019, which begins on February 3, 2019. A modified retrospective transition approach is required for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. We plan to adopt the standard in the first quarter of 2018. We will take advantage of the transition package of practical expedients permitted within the new standard, which among other things, allows us to carryforward the historical lease classification. In addition, we are electing the hindsight practical expedient to determine the reasonably certain lease term for existing leases. While lease classification will remain unchanged, hindsight will result in generally shorter accounting lease terms and useful lives of the corresponding leasehold improvements. We will make an accounting policy election that will keep leases with an initial term of 12 months or less off of the balance sheet and will result in recognizing those lease payments in the Consolidated Statements of Operations on a straight-line basis over the lease term. While we are continuing to assess all potential impacts of the standard, we expect total liabilities to increase by $1.3 - $1.5 billion , with an offsetting increase to leased assets of $1.2 - $1.4 billion as of the date of adoption. The difference between these amounts will be recorded as an adjustment to retained earnings. We do not believe the standard will materially affect our consolidated net earnings. These estimates — based on our current lease portfolio — may change as we continue to evaluate the new standard and as we implement a new lease accounting information system. The estimates could also change due to changes in the lease portfolio, which could include (a) lease volume, (b) lease commencement dates, and (c) renewal option and lease termination expectations. We will update our estimates each quarter as changes occur. We do not believe the new standard will have a notable impact on our liquidity. The standard will have no impact on our debt-covenant compliance under our current agreements. In March 2017, the FASB issued ASU 2017-07, Compensation – Retirement Benefits (Topic 715) , which requires employers to disaggregate and present separately the current service cost component from the other components of net benefit cost within the Consolidated Statement of Operations. We plan to adopt the standard in the first quarter of fiscal 2018. We expect to reclassify the other components of net benefit cost to an other income and expense line on our Consolidated Statements of Operations upon adoption.

Cost of Sales and Selling, Ge24

Cost of Sales and Selling, General and Administrative Expenses (Tables)	9 Months Ended
	Oct. 28, 2017
Accounting Changes and Error Corrections [Abstract]
Schedule of Major Expense Category Classification	The following table illustrates the primary items classified in each major expense category: Cost of Sales Selling, General and Administrative Expenses Total cost of products sold including: Compensation and benefit costs for stores and Advertising, offset by vendor income that is a rd party bank issued Note: The classification of these expenses varies across the retail industry.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Oct. 28, 2017
Fair Value Disclosures [Abstract]
Schedule of Fair Value Measurements - Recurring Basis	Fair value measurements are reported in one of three levels reflecting the valuation techniques used to determine fair value. Fair Value Measurements - Recurring Basis Fair Value at (millions) Pricing Category October 28, January 28, October 29, Assets Cash and cash equivalents Short-term investments held by U.S. entities Level 1 $ 953 $ 1,110 $ — Short-term investments held by entities located outside the U.S. (a) Level 1 1,050 762 514 Other current assets Prepaid forward contracts Level 1 30 26 28 Beneficial interest asset Level 3 3 12 10 Interest rate swaps (b) Level 2 — 1 — Other noncurrent assets Interest rate swaps (b) Level 2 1 4 19 Beneficial interest asset Level 3 — — 5 (a) Amounts may be subject to tax if repatriated. (b) See Note 8 for additional information on interest rate swaps.
Schedule of Significant Financial Instruments not Measured at Fair Value	Significant Financial Instruments not Measured at Fair Value (a) (millions) October 28, 2017 January 28, 2017 October 29, 2016 Carrying Amount Fair Value Carrying Amount Fair Value Carrying Amount Fair Value Debt (b) $ 11,522 $ 12,403 $ 11,715 $ 12,545 $ 11,802 $ 13,171 (a) The carrying amounts of certain other current assets, accounts payable, and certain accrued and other current liabilities approximate fair value due to their short-term nature. (b) The carrying amount and estimated fair value of debt exclude unamortized swap valuation adjustments and capital lease obligations.

Cash and Cash Equivalents (Tabl

Cash and Cash Equivalents (Tables)	9 Months Ended
	Oct. 28, 2017
Cash and Cash Equivalents [Abstract]
Cash, Cash Equivalents and Investments	Cash equivalents include highly liquid investments with an original maturity of three months or less from the time of purchase. Cash equivalents also include amounts due from third-party financial institutions for credit and debit card transactions, which typically settle in 5 days or less. (millions) October 28, January 28, October 29, Cash held by U.S. entities $ 242 $ 257 $ 247 Cash held by entities located outside the U.S. (a) 34 17 35 Short-term investments held by U.S. entities 953 1,110 — Short-term investments held by entities located outside the U.S. (a) 1,050 762 514 Receivables from third-party financial institutions for credit and debit card transactions 446 366 435 Cash and cash equivalents $ 2,725 $ 2,512 $ 1,231 (a) Amounts may be subject to tax if repatriated.

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Oct. 28, 2017
Income Tax Disclosure [Abstract]
Schedule of Provision for Income Taxes	Three Months Ended Nine Months Ended (dollars in millions) October 28, October 29, October 28, October 29, Income tax expense $ 137 $ 311 $ 802 $ 910 Effective tax rate (a) 22.3 % 33.8 % 30.5 % 33.0 % (a) For the three months ended October 28, 2017, the income tax rate decreased 11.5% compared with the three months ended October 29, 2016. Benefits from our global sourcing operations drove 9.6 percentage points of the decline ( 3.7 percentage points of which is due to lower earnings before income taxes). This includes $55 million of prior-period discrete tax benefits primarily related to our global sourcing operations. For the nine months ended October 28, 2017, the income tax rate decreased 2.5% compared with the nine months ended October 29, 2016. Benefits from our global sourcing operations drove 2.7 percentage points of rate decline. This includes $56 million of prior-period discrete tax benefits primarily related to our global sourcing operations.

Share Repurchase (Tables)

Share Repurchase (Tables)	9 Months Ended
	Oct. 28, 2017
Equity [Abstract]
Schedule of Share Repurchase (excluding ASR)	Nine Months Ended (millions, except per share data) October 28, October 29, Total number of shares purchased 10.8 38.5 Average price paid per share $ 56.80 $ 72.87 Total investment $ 611 $ 2,807 Note: Accelerated share repurchase (ASR) activity in 2017 and 2016 is omitted because the transactions were not fully settled as of October 28, 2017 and October 29, 2016.

Pension Benefits (Tables)

Pension Benefits (Tables)	9 Months Ended
	Oct. 28, 2017
Compensation and Retirement Disclosure [Abstract]
Schedule of Net Pension and Postretirement Health Care Benefits Expense	We provide pension plan benefits to certain eligible team members. Net Pension Benefits Expense Three Months Ended Nine Months Ended (millions) October 28, October 29, October 28, October 29, Service cost $ 21 $ 20 $ 63 $ 61 Interest cost 34 34 103 103 Expected return on assets (61 ) (64 ) (184 ) (193 ) Amortization of losses 15 12 45 37 Amortization of prior service cost (3 ) (2 ) (8 ) (8 ) Total $ 6 $ — $ 19 $ —

Accumulated Other Comprehensi30

Accumulated Other Comprehensive (Loss) / Income (Tables)	9 Months Ended
	Oct. 28, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Summary of the Changes in Accumulated Other Comprehensive Income (AOCI) by Component	(millions) Cash Flow Hedges Currency Translation Adjustment Pension and Other Benefits Total January 28, 2017 $ (16 ) $ (21 ) $ (601 ) $ (638 ) Other comprehensive income before reclassifications — 3 1 4 Amounts reclassified from AOCI 3 (a) — 21 (b) 24 October 28, 2017 $ (13 ) $ (18 ) $ (579 ) $ (610 ) (a) Represents amortization of gains and losses on cash flow hedges, net of $2 million of taxes. (b) Represents amortization of pension and other benefit liabilities, net of $15 million of taxes.

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Oct. 28, 2017
Segment Reporting [Abstract]
Schedule of Business Segment Results and Reconciliation of Segment Assets to Total Assets	We operate as a single segment that includes all of our continuing operations, which are designed to enable guests to purchase products seamlessly in stores or through our digital channels. Virtually all of our consolidated revenues are generated in the United States. The vast majority of our long–lived assets are located within the United States. Business Segment Results Three Months Ended Nine Months Ended (millions) October 28, October 29, October 28, October 29, Sales $ 16,667 $ 16,441 $ 49,113 $ 48,805 Cost of sales (a) 11,712 11,536 34,330 33,957 Gross margin 4,955 4,905 14,783 14,848 Selling, general, and administrative expenses (c) 3,512 3,343 10,027 9,741 Depreciation and amortization (exclusive of depreciation included in cost of sales) (a) 574 505 1,596 1,486 Segment earnings before interest expense and income taxes 869 1,057 3,160 3,621 Pharmacy Transaction-related costs (b)(c) — 4 — — Earnings from continuing operations before interest expense and income taxes 869 1,061 3,160 3,621 Net interest expense 254 142 532 864 Earnings from continuing operations before income taxes $ 615 $ 919 $ 2,628 $ 2,757 Note: Amounts may not foot due to rounding. (a) Refer to Note 3 for information about the impact of a reclassification of supply chain-related depreciation expense. (b) Represents items related to the December 2015 sale of our former pharmacy and clinic businesses to CVS (Pharmacy Transaction). (c) The sum of segment SG&A expenses and Pharmacy Transaction-related costs equal consolidated SG&A expenses. Reconciliation of Segment Assets to Total Assets (millions) October 28, January 28, October 29, Segment assets $ 40,693 $ 37,350 $ 38,524 Assets of discontinued operations 15 81 79 Total assets $ 40,708 $ 37,431 $ 38,603

Revenues (Details)

Revenues (Details)	9 Months Ended
	Oct. 28, 2017
Accounting Changes and Error Corrections [Abstract]
Percentage of sales accounted for as vendor sales to customers	3.00%

Cost of Sales and Selling, Ge33

Cost of Sales and Selling, General and Administrative Expenses (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Oct. 28, 2017	Oct. 29, 2016	Oct. 28, 2017	Oct. 29, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cost of sales (a)	[1]	$ 11,712	$ 11,536	$ 34,330	$ 33,957
Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cost of sales (a)		$ 60	$ 65	$ 189	$ 200
[1]	Refer to Note 3 for information about a reclassification of supply chain-related depreciation expense to cost of sales.

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value Measurements - Recurring Basis (Details) - USD ($) $ in Millions	Oct. 28, 2017	Jan. 28, 2017	Oct. 29, 2016
Other current assets
Other current assets	$ 1,392	$ 1,100	$ 1,492
Other noncurrent assets
Other noncurrent assets	878	771	842
Short term investments held by US entities
Cash and cash equivalents
Short-term investments held by U.S. entities	953	1,110	0
Short term investments held by entities outside of US
Cash and cash equivalents
Short-term investments held by U.S. entities	1,050	762	514
Fair value measured on recurring basis | Level 1 | Prepaid forward contracts
Other current assets
Other current assets	30	26	28
Fair value measured on recurring basis | Level 1 | Short-term investments | Short term investments held by US entities
Cash and cash equivalents
Short-term investments held by U.S. entities	953	1,110	0
Fair value measured on recurring basis | Level 1 | Short-term investments | Short term investments held by entities outside of US
Cash and cash equivalents
Short-term investments held by U.S. entities	1,050	762	514
Fair value measured on recurring basis | Level 2 | Interest rate swaps
Other current assets
Other current assets	0	1	0
Other noncurrent assets
Other noncurrent assets	1	4	19
Fair value measured on recurring basis | Level 3 | Beneficial interest asset
Other current assets
Other current assets	3	12	10
Other noncurrent assets
Other noncurrent assets	$ 0	$ 0	$ 5

Fair Value Measurements - Sch35

Fair Value Measurements - Schedule of Significant Financial Instruments not Measured at Fair Value (Details) - USD ($) $ in Millions	Oct. 28, 2017	Jan. 28, 2017	Oct. 29, 2016
Carrying Amount
Financial Instruments, Balance Sheet Groupings
Debt	$ 11,522	$ 11,715	$ 11,802
Fair Value
Financial Instruments, Balance Sheet Groupings
Debt	$ 12,403	$ 12,545	$ 13,171

Cash and Cash Equivalents (Deta

Cash and Cash Equivalents (Details) - USD ($) $ in Millions	9 Months Ended
	Oct. 28, 2017	Jan. 28, 2017	Oct. 29, 2016	Jan. 30, 2016
Cash and Cash Equivalents [Line Items]
Cash equivalents credit and debit card transactions due period maximum	5 days
Receivables from third-party financial institutions for credit and debit card transactions	$ 446	$ 366	$ 435
Cash and cash equivalents	2,725	2,512	1,231	$ 4,046
Held by US entities
Cash and Cash Equivalents [Line Items]
Cash held	242	257	247
Short-term investments held by U.S. entities	953	1,110	0
Held by entities outside of US
Cash and Cash Equivalents [Line Items]
Cash held	34	17	35
Short-term investments held by U.S. entities	$ 1,050	$ 762	$ 514

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 28, 2017	Oct. 29, 2016	Oct. 28, 2017	Oct. 29, 2016
Property, Plant and Equipment [Abstract]
Long-lived asset impairments	$ 1	$ 9	$ 89	$ 37

Notes Payable and Long-Term D38

Notes Payable and Long-Term Debt (Details) - USD ($)	May 01, 2017	Oct. 28, 2017	Oct. 29, 2016	Apr. 30, 2016	Oct. 29, 2016
Unsecured Debt
Debt Instrument [Line Items]
Repurchased amount		$ 344,000,000	$ 824,000,000	$ 565,000,000	$ 824,000,000
Market value		463,000,000	981,000,000	820,000,000	981,000,000
Loss on early retirement		123,000,000	161,000,000	261,000,000
Repayments of debt	$ 598,000,000
Unsecured Debt | Unsecured Fixed Rate 3.9 % Debt Maturing November 2047
Debt Instrument [Line Items]
Unsecured fixed rate debt		$ 750,000,000
Interest rate		3.90%
Unsecured Debt | Unsecured Fixed Rate 2.5 % Debt Maturing April 2026
Debt Instrument [Line Items]
Unsecured fixed rate debt				$ 1,000,000,000
Interest rate				2.50%
Unsecured Debt | Unsecured Fixed Rate 3.625 % Debt Maturing April 2046
Debt Instrument [Line Items]
Unsecured fixed rate debt				$ 1,000,000,000
Interest rate				3.625%
Commercial Paper
Debt Instrument [Line Items]
Amount outstanding		$ 0	89,000,000		89,000,000
Maximum amount outstanding during period			89,000,000		89,000,000
Average outstanding amount during period			$ 3,000,000		$ 1,000,000
Weighted average interest rate			0.43%		0.43%

Derivative Financial Instrume39

Derivative Financial Instruments - Narrative (Details) - Interest Rate Swaps	3 Months Ended		9 Months Ended
	Oct. 28, 2017USD ($)instrument	Oct. 29, 2016USD ($)instrument	Oct. 28, 2017USD ($)instrument	Oct. 29, 2016USD ($)instrument
Derivative Contracts - Effect on Results of Operations (millions)
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ (2,000,000)	$ (5,000,000)	$ (8,000,000)	$ (21,000,000)
Designated as Hedging Instrument
Derivative Contracts - Effect on Results of Operations (millions)
Notional amount	1,000,000,000	1,000,000,000	1,000,000,000	1,000,000,000
Amount of ineffectiveness recognized	0	0	0	0
Not Designated as Hedging Instrument
Derivative Contracts - Effect on Results of Operations (millions)
Notional amount	$ 250,000,000	$ 250,000,000	$ 250,000,000	$ 250,000,000
Number of derivative instruments | instrument	1	1	1	1

Leases (Details)

Leases (Details) - ASU 2016-02 - Forecast $ in Billions	May 05, 2018USD ($)
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lease liabilities	$ 1.3
Lease assets	1.2
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lease liabilities	1.5
Lease assets	$ 1.4

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 28, 2017	Oct. 29, 2016	Oct. 28, 2017	Oct. 29, 2016
Income Tax Disclosure [Abstract]
Income tax expense	$ 137	$ 311	$ 802	$ 910
Effective tax rate	22.30%	33.80%	30.50%	33.00%
Change in effective income tax rate from prior year period	11.50%		2.50%
Change in effective income tax rate from prior year period due to global sourcing operations	9.60%		2.70%
Change in effective income tax rate from prior year period due to lower EBT	3.70%
Prior-period discrete tax benefit related to global sourcing operations	$ 55		$ 56

Share Repurchase - Schedule of

Share Repurchase - Schedule of Share Repurchases (excluding ASR) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	9 Months Ended
	Oct. 28, 2017	Oct. 29, 2016
Equity [Abstract]
Total number of shares purchased	10.8	38.5
Average price paid per share (in dollars per share)	$ 56.80	$ 72.87
Total investment	$ 611	$ 2,807

Share Repurchase - Narrative (D

Share Repurchase - Narrative (Details) - USD ($) $ / shares in Units, shares in Millions	1 Months Ended		3 Months Ended		4 Months Ended		9 Months Ended		12 Months Ended
	Nov. 30, 2017	Nov. 30, 2016	Oct. 28, 2017	Oct. 29, 2016	Nov. 30, 2017	Nov. 30, 2016	Oct. 28, 2017	Oct. 29, 2016	Jan. 28, 2017
Equity, Class of Treasury Stock [Line Items]
Stock repurchased and retired							$ 751,000,000		$ 3,686,000,000
Number of shares purchased							10.8	38.5
Total investment							$ 611,000,000	$ 2,807,000,000
Share Repurchase Program 2017
Equity, Class of Treasury Stock [Line Items]
Authorized repurchase amount			$ 5,000,000,000				5,000,000,000
Prepaid repurchase amount			$ 250,000,000
Repurchase of stock (in shares)			(2.5)
Stock repurchased and retired			$ 139,000,000
Shares receivable			11,000,000				11,000,000
Stock repurchase balance in other current assets			100,000,000				100,000,000
Share Repurchase Program 2017 | Minimum
Equity, Class of Treasury Stock [Line Items]
Authorized repurchase amount			150,000,000				150,000,000
Share Repurchase Program 2017 | Maximum
Equity, Class of Treasury Stock [Line Items]
Authorized repurchase amount			$ 250,000,000				$ 250,000,000
Repurchase of Share Repurchase Program 2015
Equity, Class of Treasury Stock [Line Items]
Authorized repurchase amount				$ 250,000,000				250,000,000
Prepaid repurchase amount				$ 350,000,000
Repurchase of stock (in shares)		(1.3)		(3.4)
Stock repurchased and retired				$ 230,000,000
Shares receivable				20,000,000				20,000,000
Stock repurchase balance in other current assets				100,000,000				100,000,000
Proceeds from settlement of shares repurchase		$ 36,000,000				$ 36,000,000
Number of shares purchased						4.6
Total investment						$ 314,000,000
Investment price per share						$ 67.67
Repurchase of Share Repurchase Program 2015 | Minimum
Equity, Class of Treasury Stock [Line Items]
Authorized repurchase amount				250,000,000				250,000,000
Repurchase of Share Repurchase Program 2015 | Maximum
Equity, Class of Treasury Stock [Line Items]
Authorized repurchase amount				$ 350,000,000				$ 350,000,000
Subsequent Event | Repurchase of Share Repurchase Program 2015
Equity, Class of Treasury Stock [Line Items]
Repurchase of stock (in shares)	(0.3)
Proceeds from settlement of shares repurchase	$ 89,000,000				$ 89,000,000
Number of shares purchased					2.8
Total investment					$ 161,000,000
Investment price per share					$ 57.78

Pension Benefits - Schedule of

Pension Benefits - Schedule of Net Pension and Postretirement Health Care Benefits Expense (Details) - Pension Plan - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 28, 2017	Oct. 29, 2016	Oct. 28, 2017	Oct. 29, 2016
Net Pension Benefits Expense
Service cost	$ 21	$ 20	$ 63	$ 61
Interest cost	34	34	103	103
Expected return on assets	(61)	(64)	(184)	(193)
Amortization of losses	15	12	45	37
Amortization of prior service cost	(3)	(2)	(8)	(8)
Total	$ 6	$ 0	$ 19	$ 0

Accumulated Other Comprehensi45

Accumulated Other Comprehensive (Loss) / Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 28, 2017	Oct. 29, 2016	Oct. 28, 2017	Oct. 29, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance			$ 10,953	$ 12,957
Ending balance	$ 11,137	$ 11,069	11,137	11,069
Net amount of taxes	137	$ 311	802	910
Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance			(16)
Other comprehensive income before reclassifications			0
Amounts reclassified from AOCI			3
Ending balance	(13)		(13)
Cash Flow Hedges | Amount reclassified from other comprehensive income
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Net amount of taxes			2
Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance			(21)
Other comprehensive income before reclassifications			3
Amounts reclassified from AOCI			0
Ending balance	(18)		(18)
Pension and Other Benefits
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance			(601)
Other comprehensive income before reclassifications			1
Amounts reclassified from AOCI			21
Ending balance	(579)		(579)
Pension and Other Benefits | Amount reclassified from other comprehensive income
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Net amount of taxes			15
Total
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance			(638)	$ (629)
Other comprehensive income before reclassifications			4
Amounts reclassified from AOCI			24
Ending balance	$ (610)		$ (610)

Segment Reporting - Business Se

Segment Reporting - Business Segment Results (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Oct. 28, 2017	Oct. 29, 2016	Oct. 28, 2017	Oct. 29, 2016
Segment Reporting [Abstract]
Sales		$ 16,667	$ 16,441	$ 49,113	$ 48,805
Cost of sales (a)	[1]	11,712	11,536	34,330	33,957
Gross margin		4,955	4,905	14,783	14,848
Selling, general and administrative expenses		3,512	3,343	10,027	9,741
Depreciation and amortization (exclusive of depreciation included in cost of sales) (a)		574	505	1,596	1,486
Segment profit		869	1,057	3,160	3,621
Pharmacy transaction related costs		0	4	0	0
Earnings from continuing operations before interest expense and income taxes		869	1,061	3,160	3,621
Net interest expense		254	142	532	864
Earnings from continuing operations before income taxes		$ 615	$ 919	$ 2,628	$ 2,757
[1]	Refer to Note 3 for information about a reclassification of supply chain-related depreciation expense to cost of sales.

Segment Reporting - Reconciliat

Segment Reporting - Reconciliation of Segment Assets to Total Assets (Details) - USD ($) $ in Millions	Oct. 28, 2017	Jan. 28, 2017	Oct. 29, 2016
Segment Reporting Information 2 [Line Items]
Total assets	$ 40,708	$ 37,431	$ 38,603
Assets of discontinued operations
Segment Reporting Information 2 [Line Items]
Total assets	15	81	79
Segment assets
Segment Reporting Information 2 [Line Items]
Total assets	$ 40,693	$ 37,350	$ 38,524