The Home Depot, Inc. (HD) 10-Q 22 Aug 17 2017 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jul. 30, 2017	Aug. 15, 2017
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jul. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Entity Registrant Name	HOME DEPOT INC
Entity Central Index Key	354,950
Current Fiscal Year End Date	--01-28
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		1,178,817,584

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jul. 30, 2017	Jan. 29, 2017
Current Assets:
Cash and Cash Equivalents	$ 4,830	$ 2,538
Receivables, net	2,187	2,029
Merchandise Inventories	12,868	12,549
Other Current Assets	626	608
Total Current Assets	20,511	17,724
Property and Equipment, at cost	41,405	40,426
Less Accumulated Depreciation and Amortization	19,370	18,512
Net Property and Equipment	22,035	21,914
Goodwill	2,235	2,093
Other Assets	1,178	1,235
Total Assets	45,959	42,966
Current Liabilities:
Short-Term Debt	0	710
Accounts Payable	8,541	7,000
Accrued Salaries and Related Expenses	1,503	1,484
Sales Taxes Payable	711	508
Deferred Revenue	1,931	1,669
Income Taxes Payable	329	25
Current Installments of Long-Term Debt	545	542
Other Accrued Expenses	2,263	2,195
Total Current Liabilities	15,823	14,133
Long-Term Debt, excluding current installments	24,422	22,349
Other Long-Term Liabilities	1,923	1,855
Deferred Income Taxes	237	296
Total Liabilities	42,405	38,633
STOCKHOLDERS' EQUITY
Common Stock, par value $0.05; authorized: 10 billion shares; issued: 1.779 billion shares at July 30, 2017 and 1.776 billion shares at January 29, 2017; outstanding: 1.181 billion shares at July 30, 2017 and 1.203 billion shares at January 29, 2017	89	88
Paid-In Capital	9,958	9,787
Retained Earnings	38,073	35,519
Accumulated Other Comprehensive Loss	(482)	(867)
Treasury Stock, at cost, 598 million shares at July 30, 2017 and 573 million shares at January 29, 2017	(44,084)	(40,194)
Total Stockholders’ Equity	3,554	4,333
Total Liabilities and Stockholders' Equity	$ 45,959	$ 42,966

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Millions	Jul. 30, 2017	Jan. 29, 2017
Statement of Financial Position [Abstract]
Common Stock, par value	$ 0.05	$ 0.05
Common Stock, shares authorized	10,000	10,000
Common Stock, shares issued	1,779	1,776
Common Stock, shares outstanding	1,181	1,203
Treasury Stock, shares	598	573

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 30, 2017	Jul. 31, 2016	Jul. 30, 2017	Jul. 31, 2016
Income Statement [Abstract]
NET SALES	$ 28,108	$ 26,472	$ 51,995	$ 49,234
Cost of Sales	18,647	17,545	34,380	32,516
GROSS PROFIT	9,461	8,927	17,615	16,718
Operating Expenses:
Selling, General and Administrative	4,549	4,388	8,910	8,669
Depreciation and Amortization	449	436	893	869
Total Operating Expenses	4,998	4,824	9,803	9,538
OPERATING INCOME	4,463	4,103	7,812	7,180
Interest and Other (Income) Expense:
Interest and Investment Income	(16)	(8)	(29)	(15)
Interest Expense	265	236	519	480
Interest and Other, net	249	228	490	465
EARNINGS BEFORE PROVISION FOR INCOME TAXES	4,214	3,875	7,322	6,715
Provision for Income Taxes	1,542	1,434	2,636	2,471
NET EARNINGS	$ 2,672	$ 2,441	$ 4,686	$ 4,244
Basic Weighted Average Common Shares	1,183	1,235	1,191	1,242
BASIC EARNINGS PER SHARE	$ 2.26	$ 1.98	$ 3.93	$ 3.42
Diluted Weighted Average Common Shares	1,189	1,240	1,197	1,247
DILUTED EARNINGS PER SHARE	$ 2.25	$ 1.97	$ 3.91	$ 3.40
Dividends Declared per Share	$ 0.89	$ 0.69	$ 1.78	$ 1.38

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 30, 2017	Jul. 31, 2016	Jul. 30, 2017	Jul. 31, 2016
Statement of Comprehensive Income [Abstract]
Net Earnings	$ 2,672	$ 2,441	$ 4,686	$ 4,244
Other Comprehensive Income (Loss):
Foreign Currency Translation Adjustments	419	(192)	389	117
Cash Flow Hedges, net of tax	22	(9)	(3)	2
Other	0	1	(1)	1
Total Other Comprehensive Income (Loss)	441	(200)	385	120
COMPREHENSIVE INCOME	$ 3,113	$ 2,241	$ 5,071	$ 4,364

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jul. 30, 2017	Jul. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Earnings	$ 4,686	$ 4,244
Reconciliation of Net Earnings to Net Cash Provided by Operating Activities:
Depreciation and Amortization	1,015	978
Stock-Based Compensation Expense	148	133
Changes in Assets and Liabilities, net of the effects of acquisitions:
Receivables, net	(96)	(91)
Merchandise Inventories	(188)	(495)
Other Current Assets	0	(38)
Accounts Payable and Accrued Expenses	1,714	1,773
Deferred Revenue	254	94
Income Taxes Payable	299	389
Deferred Income Taxes	(79)	(86)
Other, net	109	(24)
Net Cash Provided by Operating Activities	7,862	6,877
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital Expenditures	(846)	(697)
Payments for Business Acquired, net	(268)	0
Proceeds from Sales of Property and Equipment	23	23
Net Cash Used in Investing Activities	(1,091)	(674)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of Short-Term Debt, net	(710)	(350)
Proceeds from Long-Term Debt, net of discounts	1,994	2,989
Repayments of Long-Term Debt	(21)	(3,023)
Repurchases of Common Stock	(3,921)	(2,441)
Proceeds from Sales of Common Stock	137	121
Cash Dividends Paid to Stockholders	(2,130)	(1,718)
Other Financing Activities	2	1
Net Cash Used in Financing Activities	(4,649)	(4,421)
Change in Cash and Cash Equivalents	2,122	1,782
Effect of Exchange Rate Changes on Cash and Cash Equivalents	170	20
Cash and Cash Equivalents at Beginning of Period	2,538	2,216
Cash and Cash Equivalents at End of Period	$ 4,830	$ 4,018

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jul. 30, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying Consolidated Financial Statements of The Home Depot, Inc. and Subsidiaries (the "Company") have been prepared in accordance with the instructions to Form 10-Q and do not include all of the information and footnotes required by U.S. generally accepted accounting principles ("GAAP") for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Results of operations for interim periods are not necessarily indicative of results for the entire year. As a result, these statements should be read in conjunction with the Consolidated Financial Statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended January 29, 2017 , as filed with the Securities and Exchange Commission on March 23, 2017 (the "2016 Form 10-K"). Valuation Reserves As of July 30, 2017 and January 29, 2017 , the valuation allowances for Merchandise Inventories and uncollectible Receivables were not material. Recent Accounting Pronouncements There have been no material changes to the Company’s position regarding recent accounting pronouncements pending adoption as disclosed in the 2016 Form 10-K, except as set forth below. In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, "Revenue from Contracts with Customers (Topic 606)", which requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which it expects to be entitled in exchange for those goods or services. In addition, ASU No. 2014-09 requires disclosures of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. ASU No. 2014-09 supersedes most existing U.S. GAAP revenue recognition principles, and it permits the use of either the retrospective or modified retrospective transition method. ASU No. 2014-09 is effective for annual reporting periods beginning after December 15, 2017, including interim periods within those annual periods. The Company continues to evaluate the effect that ASU No. 2014-09 will have on its Consolidated Financial Statements and related disclosures and controls. Based on its preliminary assessment, the Company has determined that the adoption of ASU No. 2014-09 could impact the timing of revenue recognition through its services, gift card and various incentive programs. ASU No. 2014-09 will impact the Company’s method of recognizing gift card breakage income, which is currently recognized based upon historical redemption patterns. ASU No. 2014-09 requires gift card breakage income to be recognized in proportion to the pattern of rights exercised by the customer when the Company expects to be entitled to breakage. The Company is also evaluating the principal versus agent considerations as it relates to certain arrangements with third parties that could impact the presentation of gross or net revenue reporting. Other areas which could be impacted may be identified as the Company continues its evaluation of ASU No. 2014-09. The Company plans to adopt ASU No. 2014-09 on January 29, 2018 using the modified retrospective transition method. Recent accounting pronouncements pending adoption not discussed above or in the 2016 Form 10-K are either not applicable or will not have or are not expected to have a material impact on the Company.

Recently Adopted Accounting Pro

Recently Adopted Accounting Pronouncements	6 Months Ended
	Jul. 30, 2017
Prospective Adoption of New Accounting Pronouncements [Abstract]
Recently Adopted Accounting Pronouncements	RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS On January 30, 2017, the Company adopted ASU No. 2016-09, "Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting". Upon adoption of this update, all excess tax benefits or deficiencies related to share-based payment awards are recognized in the provision for income taxes in the period in which they occur. Previously these amounts were reflected in paid-in capital. In addition, upon adoption these amounts are classified as an operating activity in the consolidated statements of cash flows in the period in which they occur. Previously, these amounts were reflected as a financing activity. Cash paid by the Company to tax authorities when directly withholding shares for tax withholding purposes will continue to be classified as a financing activity in the consolidated statements of cash flows. Stock-based compensation expense will continue to reflect estimated forfeitures of share-based awards. The Company has adopted the applicable provisions of ASU No. 2016-09 prospectively. As a result of the adoption of ASU No. 2016-09, the Company recognized $20 million and $85 million of excess tax benefits related to share-based payment awards in its provision for income taxes during the second quarter and first six months of fiscal 2017, respectively. The recognition of these benefits contributed $0.02 and $0.07 to Diluted Earnings per Share for the second quarter and first six months of fiscal 2017, respectively.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jul. 30, 2017
Debt Disclosure [Abstract]
Long-Term Debt	LONG-TERM DEBT In June 2017, the Company issued $500 million of floating rate senior notes due June 5, 2020 (the "2020 floating rate notes"); $750 million of 1.80% senior notes due June 5, 2020 (the "2020 notes") at a discount of $1 million ; and $750 million of 3.90% senior notes due June 15, 2047 (the "2047 notes") at a discount of $5 million (together, the “June 2017 issuance”). The 2020 floating rate notes bear interest at a variable rate determined quarterly equal to the three-month London Interbank Offered Rate ("LIBOR") plus 15 basis points. Interest on the 2020 floating rate notes is due quarterly on March 5, June 5, September 5, and December 5 of each year, beginning September 5, 2017. Interest on the 2020 notes is due semi-annually on June 5 and December 5 of each year, beginning December 5, 2017. Interest on the 2047 notes is due semi-annually on June 15 and December 15 of each year, beginning December 15, 2017. Interest payments for the 2020 notes and 2047 notes will include accrued interest from and including June 5, 2017. The $6 million discount associated with the 2020 notes and the 2047 notes is being amortized over the term of the notes using the effective interest rate method. Issuance costs of $12 million associated with the June 2017 issuance were recorded as a direct deduction to the senior notes and are being amortized over the term of the notes. The net proceeds of the June 2017 issuance will be used for general corporate purposes, including repurchases of the Company's common stock. All of the Company's senior notes, other than its outstanding floating rate notes, may be redeemed by the Company at any time, in whole or in part, at the redemption price plus accrued interest up to the redemption date. The redemption price is equal to the greater of (1) 100% of the principal amount of the notes to be redeemed, or (2) the sum of the present values of the remaining scheduled payments of principal and interest to the Par Call Date, as defined in the respective notes. Additionally, if a Change in Control Triggering Event occurs, as defined in the notes, holders of all notes have the right to require the Company to redeem those notes at 101% of the aggregate principal amount of the notes plus accrued interest up to the redemption date. The Company is generally not limited under the indentures governing the notes in its ability to incur additional indebtedness or required to maintain financial ratios or specified levels of net worth or liquidity. The indentures governing the notes contain various customary covenants; however, none are expected to impact the Company's liquidity or capital resources.

Accelerated Share Repurchase Ag

Accelerated Share Repurchase Agreements	6 Months Ended
	Jul. 30, 2017
Accelerated Share Repurchase Agreements [Abstract]
Accelerated Share Repurchase Agreements	ACCELERATED SHARE REPURCHASE AGREEMENTS The Company enters into Accelerated Share Repurchase ("ASR") agreements from time to time with third-party financial institutions to repurchase shares of the Company’s common stock. Under an ASR agreement, the Company pays a specified amount to the financial institution and receives an initial delivery of shares. This initial delivery of shares represents the minimum number of shares that the Company may receive under the agreement. Upon settlement of the ASR agreement, the financial institution delivers additional shares, with the final number of shares delivered determined with reference to the volume weighted average price per share of the Company’s common stock over the term of the ASR agreement, less a negotiated discount. The transactions are accounted for as equity transactions and are included in Treasury Stock when the shares are received, at which time there is an immediate reduction in the weighted average common shares calculation for basic and diluted earnings per share. The Company entered into an ASR agreement during the second quarter of fiscal 2017. The terms of the ASR agreement, which follow the structure outlined above, were as follows (amounts in millions): Agreement Date Settlement Date Amount Initial Shares Delivered Additional Shares Delivered Total Shares Delivered Q2 2017 Q2 2017 $ 1,650 9.7 1.1 10.8

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jul. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS The carrying amount of Cash and Cash Equivalents, Receivables and Accounts Payable reported in the Company's Consolidated Balance Sheets approximates fair value due to their short-term maturities. Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table presents the assets and liabilities, if any, of the Company that are measured at fair value on a recurring basis: amounts in millions Fair Value at July 30, 2017 Using Fair Value at January 29, 2017 Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Derivative agreements - assets $ — $ 208 $ — $ — $ 271 $ — The Company uses derivative financial instruments from time to time in the management of its interest rate exposure on certain Long-Term Debt and its exposure to foreign currency fluctuations. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Long-lived assets were analyzed for impairment on a nonrecurring basis using fair value measurements with unobservable inputs (level 3). Impairment charges related to long-lived assets in the first six months of fiscal 2017 and 2016 were not material. The aggregate fair and carrying values of the Company's senior notes were as follows: amounts in millions July 30, 2017 January 29, 2017 Fair Value (Level 1) Carrying Value Fair Value (Level 1) Carrying Value Senior notes $ 26,194 $ 24,005 $ 23,620 $ 22,013

Basic And Diluted Weighted Aver

Basic And Diluted Weighted Average Common Shares	6 Months Ended
	Jul. 30, 2017
Earnings Per Share [Abstract]
Basic And Diluted Weighted Average Common Shares	BASIC AND DILUTED WEIGHTED AVERAGE COMMON SHARES The following table presents the reconciliation of basic to diluted weighted average common shares as well as the effect of anti-dilutive securities excluded from diluted weighted average common shares: Three Months Ended Six Months Ended amounts in millions July 30, July 31, July 30, July 31, Basic Weighted Average Common Shares 1,183 1,235 1,191 1,242 Effect of potentially dilutive securities - stock plans 6 5 6 5 Diluted Weighted Average Common Shares 1,189 1,240 1,197 1,247 Effect of anti-dilutive securities excluded from diluted weighted average common shares 1 1 1 1

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jul. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Data Breach As previously reported, in the third quarter of fiscal 2014, the Company confirmed that its payment data systems were breached, which potentially impacted customers who used payment cards at self-checkout systems in the Company’s U.S. and Canadian stores (the "Data Breach"). Since the end of fiscal 2016, there have been no material changes with respect to the Data Breach, except as discussed below. As reported in the 2016 Form 10-K, in the first quarter of fiscal 2017, the Company agreed to settlement terms that, upon approval of the court, will resolve and dismiss the claims asserted in the financial institutions class actions. In addition, in the first quarter of fiscal 2017, the parties to the two purported shareholder derivative actions agreed to settlement terms that, upon approval of the court, will resolve and dismiss the claims asserted in those actions. As of the end of the first quarter of fiscal 2017, the Company has resolved the most significant claims relating to the Data Breach, and there were no material changes during the first six months of fiscal 2017 to the Company’s loss contingency assessment relating to any remaining matters. The Company does not believe that the ultimate amounts paid with respect to any remaining matters will have a material adverse effect on the Company’s consolidated financial condition, results of operations or cash flows in future periods.

Summary of Significant Accoun14

Summary of Significant Accounting Policies (Policy)	6 Months Ended
	Jul. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying Consolidated Financial Statements of The Home Depot, Inc. and Subsidiaries (the "Company") have been prepared in accordance with the instructions to Form 10-Q and do not include all of the information and footnotes required by U.S. generally accepted accounting principles ("GAAP") for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Results of operations for interim periods are not necessarily indicative of results for the entire year. As a result, these statements should be read in conjunction with the Consolidated Financial Statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended January 29, 2017 , as filed with the Securities and Exchange Commission on March 23, 2017 (the "2016 Form 10-K").
Recent Accounting Pronouncements	Recent Accounting Pronouncements There have been no material changes to the Company’s position regarding recent accounting pronouncements pending adoption as disclosed in the 2016 Form 10-K, except as set forth below. In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, "Revenue from Contracts with Customers (Topic 606)", which requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which it expects to be entitled in exchange for those goods or services. In addition, ASU No. 2014-09 requires disclosures of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. ASU No. 2014-09 supersedes most existing U.S. GAAP revenue recognition principles, and it permits the use of either the retrospective or modified retrospective transition method. ASU No. 2014-09 is effective for annual reporting periods beginning after December 15, 2017, including interim periods within those annual periods. The Company continues to evaluate the effect that ASU No. 2014-09 will have on its Consolidated Financial Statements and related disclosures and controls. Based on its preliminary assessment, the Company has determined that the adoption of ASU No. 2014-09 could impact the timing of revenue recognition through its services, gift card and various incentive programs. ASU No. 2014-09 will impact the Company’s method of recognizing gift card breakage income, which is currently recognized based upon historical redemption patterns. ASU No. 2014-09 requires gift card breakage income to be recognized in proportion to the pattern of rights exercised by the customer when the Company expects to be entitled to breakage. The Company is also evaluating the principal versus agent considerations as it relates to certain arrangements with third parties that could impact the presentation of gross or net revenue reporting. Other areas which could be impacted may be identified as the Company continues its evaluation of ASU No. 2014-09. The Company plans to adopt ASU No. 2014-09 on January 29, 2018 using the modified retrospective transition method. On January 30, 2017, the Company adopted ASU No. 2016-09, "Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting". Upon adoption of this update, all excess tax benefits or deficiencies related to share-based payment awards are recognized in the provision for income taxes in the period in which they occur. Previously these amounts were reflected in paid-in capital. In addition, upon adoption these amounts are classified as an operating activity in the consolidated statements of cash flows in the period in which they occur. Previously, these amounts were reflected as a financing activity. Cash paid by the Company to tax authorities when directly withholding shares for tax withholding purposes will continue to be classified as a financing activity in the consolidated statements of cash flows. Stock-based compensation expense will continue to reflect estimated forfeitures of share-based awards. The Company has adopted the applicable provisions of ASU No. 2016-09 prospectively

Accelerated Share Repurchase 15

Accelerated Share Repurchase Agreements (Tables)	6 Months Ended
	Jul. 30, 2017
Accelerated Share Repurchase Agreements [Abstract]
Accelerated Share Repurchase Agreements	The terms of the ASR agreement, which follow the structure outlined above, were as follows (amounts in millions): Agreement Date Settlement Date Amount Initial Shares Delivered Additional Shares Delivered Total Shares Delivered Q2 2017 Q2 2017 $ 1,650 9.7 1.1 10.8

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jul. 30, 2017
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table presents the assets and liabilities, if any, of the Company that are measured at fair value on a recurring basis: amounts in millions Fair Value at July 30, 2017 Using Fair Value at January 29, 2017 Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Derivative agreements - assets $ — $ 208 $ — $ — $ 271 $ —
Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis	The aggregate fair and carrying values of the Company's senior notes were as follows: amounts in millions July 30, 2017 January 29, 2017 Fair Value (Level 1) Carrying Value Fair Value (Level 1) Carrying Value Senior notes $ 26,194 $ 24,005 $ 23,620 $ 22,013

Basic And Diluted Weighted Av17

Basic And Diluted Weighted Average Common Shares (Tables)	6 Months Ended
	Jul. 30, 2017
Earnings Per Share [Abstract]
Schedule of Weighted Average Number of Shares	The following table presents the reconciliation of basic to diluted weighted average common shares as well as the effect of anti-dilutive securities excluded from diluted weighted average common shares: Three Months Ended Six Months Ended amounts in millions July 30, July 31, July 30, July 31, Basic Weighted Average Common Shares 1,183 1,235 1,191 1,242 Effect of potentially dilutive securities - stock plans 6 5 6 5 Diluted Weighted Average Common Shares 1,189 1,240 1,197 1,247
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	Effect of anti-dilutive securities excluded from diluted weighted average common shares 1 1 1 1

Recently Adopted Accounting P18

Recently Adopted Accounting Pronouncements (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 30, 2017	Jul. 31, 2016	Jul. 30, 2017	Jul. 31, 2016
Item Effected [Line Items]
Net Earnings	$ 2,672	$ 2,441	$ 4,686	$ 4,244
Diluted Earnings per Share	$ 2.25	$ 1.97	$ 3.91	$ 3.40
Accounting Standards Update 2016-09 [Member]
Item Effected [Line Items]
Net Earnings	$ 20		$ 85
Diluted Earnings per Share	$ 0.02		$ 0.07

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details) - USD ($) $ in Millions	Jun. 05, 2017	Jul. 30, 2017
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage		100.00%
Debt Instrument, Change of Control, Redemption Price, Percent		101.00%
Floating Rate Senior Notes Due June 5, 2020 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 500
Debt Instrument, Maturity Date	Jun. 5, 2020
Debt Instrument, Frequency of Periodic Payment	quarterly on March 5, June 5, September 5, and December 5
Floating Rate Senior Notes Due June 5, 2020 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.15%
1.80% Senior Notes Due June 5, 2020 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 750
Debt Instrument, Interest Rate, Stated Percentage	1.80%
Debt Instrument, Maturity Date	Jun. 5, 2020
Debt Instrument, Unamortized Discount	$ 1
Debt Instrument, Frequency of Periodic Payment	semi-annually on June 5 and December 5
3.90% Senior Notes Due 2047 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 750
Debt Instrument, Interest Rate, Stated Percentage	3.90%
Debt Instrument, Maturity Date	Jun. 15, 2047
Debt Instrument, Unamortized Discount	$ 5
Debt Instrument, Frequency of Periodic Payment	semi-annually on June 15 and December 15
June 2017 Issuance [Member]
Debt Instrument [Line Items]
Debt Instrument, Unamortized Discount	$ 6
Debt Issuance Costs, Gross	$ 12

Accelerated Share Repurchase 20

Accelerated Share Repurchase Agreements (Details) - USD ($) shares in Millions, $ in Millions	1 Months Ended		2 Months Ended	6 Months Ended
	Jul. 30, 2017	Jul. 11, 2017	Jul. 30, 2017	Jul. 30, 2017	Jul. 31, 2016
Accelerated Share Repurchases [Line Items]
Repurchases of Common Stock				$ 3,921	$ 2,441
Q2 Accelerate Share Repurchase Agreement [Member]
Accelerated Share Repurchases [Line Items]
Repurchases of Common Stock			$ 1,650
Treasury Stock Shares Acquired	1.1	9.7	10.8

Fair Value Measurements (Assets

Fair Value Measurements (Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Millions	Jul. 30, 2017	Jan. 29, 2017
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative agreements - assets	$ 0	$ 0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative agreements - assets	208	271
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative agreements - assets	$ 0	$ 0

Fair Value Measurements (Asse22

Fair Value Measurements (Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis) (Details) - USD ($) $ in Millions	Jul. 30, 2017	Jan. 29, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying value of senior notes	$ 24,005	$ 22,013
Senior Notes [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of senior notes	$ 26,194	$ 23,620

Basic And Diluted Weighted Av23

Basic And Diluted Weighted Average Common Shares (Reconciliation Of Basic to Diluted Weighted Average Common Shares) (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jul. 30, 2017	Jul. 31, 2016	Jul. 30, 2017	Jul. 31, 2016
Reconciliation of Basic to Diluted Weighted Average Common Shares:
Basic Weighted Average Common Shares	1,183	1,235	1,191	1,242
Effect of potentially dilutive securities - stock plans	6	5	6	5
Diluted Weighted Average Common Shares	1,189	1,240	1,197	1,247

Basic And Diluted Weighted Av24

Basic And Diluted Weighted Average Common Shares (Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share) (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jul. 30, 2017	Jul. 31, 2016	Jul. 30, 2017	Jul. 31, 2016
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Effect of anti-dilutive securities excluded from diluted weighted average common shares	1	1	1	1