Macy's (M) 10-Q 28 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - Aug. 01, 2015 - shares	Total
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Aug. 1, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Trading Symbol	M
Entity Registrant Name	Macy's, Inc.
Entity Central Index Key	794,367
Current Fiscal Year End Date	--01-30
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	330,982,967

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 01, 2015	Aug. 02, 2014	Aug. 01, 2015	Aug. 02, 2014
Income Statement [Abstract]
Net sales	$ 6,104	$ 6,267	$ 12,336	$ 12,546
Cost of sales	(3,610)	(3,672)	(7,410)	(7,508)
Gross margin	2,494	2,595	4,926	5,038
Selling, general and administrative expenses	(2,058)	(2,024)	(4,081)	(4,024)
Operating income (loss)	436	571	845	1,014
Interest expense	(94)	(101)	(189)	(201)
Interest income	1	1	1	1
Income (loss) before income taxes	343	471	657	814
Federal, state and local income tax expense	(126)	(179)	(247)	(298)
Net income (loss)	$ 217	$ 292	$ 410	$ 516
Basic earnings per share	$ 0.65	$ 0.81	$ 1.21	$ 1.42
Diluted earnings per share	$ 0.64	$ 0.80	$ 1.19	$ 1.40

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 01, 2015	Aug. 02, 2014	Aug. 01, 2015	Aug. 02, 2014
Net income (loss)	$ 217	$ 292	$ 410	$ 516
Amortization of net actuarial loss on post employment and postretirement benefit plans, before tax	11	7	24	13
Tax effect related to items of other comprehensive income	4	3	9	5
Total other comprehensive income, net of tax effect	7	4	15	8
Comprehensive income (loss)	$ 224	$ 296	$ 425	$ 524

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Aug. 01, 2015	Jan. 31, 2015	Aug. 02, 2014	Feb. 01, 2014
Current Assets:
Cash and cash equivalents	$ 843	$ 2,246	$ 1,630	$ 2,273
Receivables	334	424	352
Merchandise inventories	5,622	5,516	5,416
Prepaid expenses and other current assets	437	493	399
Total Current Assets	7,236	8,679	7,797
Property and Equipment - net	7,704	7,800	7,771
Goodwill	3,897	3,743	3,743
Other Intangible Assets - net	523	496	512
Other Assets	756	743	783
Total Assets	20,116	21,461	20,606
Current Liabilities:
Short-term debt	83	76	483
Merchandise accounts payable	2,067	1,693	1,990
Accounts payable and accrued liabilities	2,278	3,109	2,150
Income taxes	64	296	120
Deferred income taxes	367	362	393
Total Current Liabilities	4,859	5,536	5,136
Long-Term Debt	7,181	7,265	6,729
Deferred Income Taxes	1,082	1,081	1,287
Other Liabilities	2,150	2,201	1,647
Shareholders' Equity (Deficit)	4,844	5,378	5,807
Total Liabilities and Shareholders' Equity	$ 20,116	$ 21,461	$ 20,606

Consolidated Balance Sheets (pa

Consolidated Balance Sheets (parenthetical) - USD ($) $ in Millions	Aug. 01, 2015	Jan. 31, 2015	Aug. 02, 2014
Accumulated depreciation	$ 5,974	$ 5,594	$ 6,453

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Aug. 01, 2015	Aug. 02, 2014
Net income (loss)	$ 410	$ 516
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	520	507
Stock-based compensation expense	47	38
Amortization of financing costs and premium on acquired debt	(2)	(3)
Changes in assets and liabilities:
Decrease in receivables	92	86
(Increase) decrease in merchandise inventories	(77)	141
Increase in prepaid expenses and other current assets	(29)	(14)
Increase in other assets not separately identified	0	(31)
Increase in merchandise accounts payable	340	276
Decrease in accounts payable, accrued liabilities and other items not separately identified	(625)	(531)
Decrease in current income taxes	(232)	(242)
Increase (decrease) in deferred income taxes	(20)	2
Decrease in other liabilities not separately identified	(26)	(9)
Net cash provided (used) by operating activities	398	736
Cash flows from investing activities:
Purchase of property and equipment	(367)	(335)
Capitalized software	(144)	(116)
Acquisition of Bluemercury, Inc., net of cash acquired	(212)	0
Disposition of property and equipment	4	24
Other, net	104	49
Net cash used by investing activities	(615)	(378)
Cash flows from financing activities:
Debt issued	0	500
Financing costs	0	(4)
Debt repaid	(72)	(459)
Dividends paid	(227)	(204)
Decrease in outstanding checks	(136)	(61)
Acquisition of treasury stock	(909)	(922)
Issuance of common stock	158	149
Net cash provided (used) by financing activities	(1,186)	(1,001)
Net increase (decrease) in cash and cash equivalents	(1,403)	(643)
Cash and cash equivalents beginning of period	2,246	2,273
Cash and cash equivalents end of period	843	1,630
Supplemental cash flow information:
Interest paid	194	202
Interest received	1	1
Income taxes paid (net of refunds received)	$ 450	$ 495

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Aug. 01, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Nature of Operations Macy's, Inc. and subsidiaries (the "Company") is an omnichannel retail organization operating stores, websites and mobile applications under three brands (Macy's, Bloomingdale's and Bluemercury) that sell a wide range of merchandise, including apparel and accessories (men's, women's and children's), cosmetics, home furnishings and other consumer goods. The Company's operations include approximately 885 stores in 45 states, the District of Columbia, Guam and Puerto Rico, as well as macys.com, bloomingdales.com and bluemercury.com. In addition, Bloomingdale's in Dubai, United Arab Emirates is operated under a license agreement with Al Tayer Insignia, a company of Al Tayer Group, LLC. A description of the Company's significant accounting policies is included in the Company's Annual Report on Form 10-K for the fiscal year ended January 31, 2015 (the "2014 10-K"). The accompanying Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto in the 2014 10-K. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Such estimates and assumptions are subject to inherent uncertainties, which may result in actual amounts differing from reported amounts. The Consolidated Financial Statements for the 13 and 26 weeks ended August 1, 2015 and August 2, 2014 , in the opinion of management, include all adjustments (consisting only of normal recurring adjustments) considered necessary to present fairly, in all material respects, the consolidated financial position and results of operations of the Company. Seasonality Because of the seasonal nature of the retail business, the results of operations for the 13 and 26 weeks ended August 1, 2015 and August 2, 2014 (which do not include the Christmas season) are not necessarily indicative of such results for the full fiscal year. Reclassifications Certain reclassifications were made to prior years’ amounts to conform with the classifications of such amounts for the most recent fiscal period. Comprehensive Income Total comprehensive income represents the change in equity during a period from sources other than transactions with shareholders and, as such, includes net income. For the Company, the only other component of total comprehensive income for the 13 and 26 weeks ended August 1, 2015 and August 2, 2014 is the amortization of post employment and postretirement plan items. These reclassifications out of accumulated other comprehensive loss are included in the computation of net periodic benefit cost (income) and are included in selling, general and administrative expenses on the Consolidated Statements of Income. See Note 4, "Benefit Plans," for further information.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Aug. 01, 2015
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following tables set forth the computation of basic and diluted earnings per share: 13 Weeks Ended August 1, 2015 August 2, 2014 Net Income Shares Net Income Shares (millions, except per share data) Net income and average number of shares outstanding $ 217 334.9 $ 292 358.3 Shares to be issued under deferred 0.8 0.9 $ 217 335.7 $ 292 359.2 Basic earnings per share $ .65 $ .81 Effect of dilutive securities: Stock options, restricted stock and restricted stock units 5.3 6.2 $ 217 341.0 $ 292 365.4 Diluted earnings per share $ .64 $ .80 26 Weeks Ended August 1, 2015 August 2, 2014 Net Income Shares Net Income Shares (millions, except per share data) Net income and average number of shares outstanding $ 410 337.3 $ 516 361.5 Shares to be issued under deferred 0.9 1.0 $ 410 338.2 $ 516 362.5 Basic earnings per share $ 1.21 $ 1.42 Effect of dilutive securities: Stock options, restricted stock and restricted stock units 5.5 6.5 $ 410 343.7 $ 516 369.0 Diluted earnings per share $ 1.19 $ 1.40 In addition to the stock options, restricted stock and restricted stock units reflected in the foregoing tables, stock options to purchase 3.4 million shares of common stock and restricted stock units relating to 1.1 million shares of common stock were outstanding at August 1, 2015 , but were not included in the computation of diluted earnings per share for the 13 or 26 weeks ended August 1, 2015 because their inclusion would have been antidilutive or they were subject to performance conditions that had not been met. In addition to the stock options, restricted stock and restricted stock units reflected in the foregoing tables, stock options to purchase 3.2 million shares of common stock and restricted stock units relating to 1.0 million shares of common stock were outstanding at August 2, 2014 , but were not included in the computation of diluted earnings per share for the 13 or 26 weeks ended August 2, 2014 because their inclusion would have been antidilutive or they were subject to performance conditions that had not been met.

Financing Activities

Financing Activities	6 Months Ended
	Aug. 01, 2015
Financing Activities [Abstract]
Financing Activities	Financing Activities The following table shows the detail of debt repayments: 26 Weeks Ended August 1, 2015 August 2, 2014 (millions) 7.5% Senior debentures due 2015 $ 69 $ — 5.75% Senior notes due 2014 — 453 9.5% amortizing debentures due 2021 2 2 9.75% amortizing debentures due 2021 1 1 Capital leases and other obligations — 3 $ 72 $ 459 On June 1, 2015 , the Company repaid $69 million of 7.5% senior debentures at maturity. On May 23, 2014 , the Company issued $500 million aggregate principal amount of 3.625% senior unsecured notes due 2024 . On July 15, 2014 , the Company repaid $453 million of 5.75% senior unsecured notes at maturity. On August 17, 2015, the Company redeemed at par the principal amount of $76 million of 8.125% senior debentures due 2035, pursuant to the terms of the debentures. Interest expense in the third quarter of 2015 will be lower due to the recognition of unamortized debt premium associated with this debt. During the 26 weeks ended August 1, 2015 , the Company repurchased approximately 13.9 million shares of its common stock pursuant to existing stock purchase authorizations for a total of approximately $937 million . As of August 1, 2015 , the Company had $1,595 million of authorization remaining under its share repurchase program. The Company may continue or, from time to time, suspend repurchases of shares under its share repurchase program, depending on prevailing market conditions, alternate uses of capital and other factors.

Benefit Plans

Benefit Plans	6 Months Ended
	Aug. 01, 2015
Pension and Other Postretirement Benefit Expense [Abstract]
Benefit Plans	Benefit Plans The Company has defined contribution plans which cover substantially all employees who work 1,000 hours or more in a year. In addition, the Company has a funded defined benefit plan ("Pension Plan") and an unfunded defined benefit supplementary retirement plan ("SERP"), which provides benefits, for certain employees, in excess of qualified plan limitations. Effective January 1, 2012, the Pension Plan was closed to new participants, with limited exceptions, and effective January 2, 2012, the SERP was closed to new participants. In February 2013, the Company announced changes to the Pension Plan and SERP whereby eligible employees no longer earn future pension service credits after December 31, 2013, with limited exceptions. All retirement benefits attributable to service in subsequent periods are provided through defined contribution plans. In addition, certain retired employees currently are provided with specified health care and life insurance benefits ("Postretirement Obligations"). Eligibility requirements for such benefits vary, but generally state that benefits are available to eligible employees who were hired prior to a certain date and retire after a certain age with specified years of service. Certain employees are subject to having such benefits modified or terminated. The defined contribution plan expense and actuarially determined components of the net periodic benefit cost (income) associated with the defined benefit plans are as follows: 13 Weeks Ended 26 Weeks Ended August 1, 2015 August 2, 2014 August 1, 2015 August 2, 2014 (millions) 401(k) Defined Contribution Plan $ 24 $ 25 $ 47 $ 50 Pension Plan Service cost $ 1 $ 1 $ 3 $ 3 Interest cost 34 37 68 75 Expected return on assets (58 ) (62 ) (117 ) (123 ) Recognition of net actuarial loss 9 7 19 13 Amortization of prior service credit — — — — $ (14 ) $ (17 ) $ (27 ) $ (32 ) Supplementary Retirement Plan Service cost $ — $ — $ — $ — Interest cost 8 9 16 17 Recognition of net actuarial loss 2 1 5 2 Amortization of prior service cost — — — — $ 10 $ 10 $ 21 $ 19 Total Retirement Expense $ 20 $ 18 $ 41 $ 37 Postretirement Obligations Service cost $ — $ — $ — $ — Interest cost 2 2 4 4 Recognition of net actuarial gain — (1 ) — (2 ) Amortization of prior service cost — — — — $ 2 $ 1 $ 4 $ 2

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Aug. 01, 2015
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract]
Fair Value Measurements	Fair Value Measurements The following table shows the Company's financial assets that are required to be measured at fair value on a recurring basis, by level within the hierarchy as defined by applicable accounting standards: August 1, 2015 August 2, 2014 Fair Value Measurements Fair Value Measurements Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (millions) Marketable equity and debt securities $ 101 $ — $ 101 $ — $ 91 $ — $ 91 $ — Other financial instruments not measured at fair value on a recurring basis include cash and cash equivalents, receivables, short-term debt, merchandise accounts payable, accounts payable and accrued liabilities and long-term debt. With the exception of long-term debt, the carrying amount approximates fair value because of the short maturity of these instruments. The fair values of long-term debt, excluding capitalized leases, are generally estimated based on quoted market prices for identical or similar instruments, and are classified as Level 2 measurements within the hierarchy as defined by applicable accounting standards. The following table shows the estimated fair value of the Company's long-term debt: August 1, 2015 August 2, 2014 Notional Amount Carrying Amount Fair Value Notional Amount Carrying Amount Fair Value (millions) Long-term debt $ 6,994 $ 7,153 $ 7,585 $ 6,544 $ 6,713 $ 7,375 The Company reviews the carrying value of its goodwill and other intangible assets with indefinite lives at least annually for possible impairment in accordance with ASC Topic 350, “Intangibles - Goodwill and Other.” Goodwill and other intangible assets with indefinite lives have been assigned to reporting units for purposes of impairment testing. The reporting units are the Company's retail operations. Goodwill and other intangible assets with indefinite lives are tested for impairment annually at the end of the fiscal month of May. During the second quarter of fiscal 2015, the Company completed its annual impairment test of goodwill and indefinite lived intangible assets and determined that goodwill and indefinite lived intangible assets were not impaired as of May 30, 2015. The use of different assumptions, estimates or judgments in the testing process, including with respect to the analysis of macroeconomic conditions, industry, market and other economic considerations and actual and expected financial performance, the estimated future cash flows and the discount rates used to discount such estimated cash flows to their net present values, could materially increase or decrease the estimated fair values and, accordingly, could impact the results of the annual impairment tests.

Condensed Consolidating Financi

Condensed Consolidating Financial Information	6 Months Ended
	Aug. 01, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Financial Information	Condensed Consolidating Financial Information Certain debt obligations of the Company, which constitute debt obligations of Macy's Retail Holdings, Inc. ("Subsidiary Issuer"), a 100%-owned subsidiary of Macy's, Inc. ("Parent"), are fully and unconditionally guaranteed by Parent. In the following condensed consolidating financial statements, "Other Subsidiaries" includes all other direct subsidiaries of Parent, including Bluemercury, Inc., FDS Bank, West 34th Street Insurance Company and its subsidiary West 34th Street Insurance Company New York, Macy's Merchandising Corporation, Macy's Merchandising Group, Inc. and its subsidiaries Macy's Merchandising Group (Hong Kong) Limited, Macy's Merchandising Group Procurement, LLC, Macy's Merchandising Group International, LLC, and Macy's Merchandising Group International (Hong Kong) Limited. "Subsidiary Issuer" includes operating divisions and non-guarantor subsidiaries of the Subsidiary Issuer on an equity basis. The assets and liabilities and results of operations of the non-guarantor subsidiaries of the Subsidiary Issuer are also reflected in "Other Subsidiaries." Condensed Consolidating Balance Sheets as of August 1, 2015 , August 2, 2014 and January 31, 2015 , the related Condensed Consolidating Statements of Comprehensive Income for the 13 and 26 weeks ended August 1, 2015 and August 2, 2014 , and the related Condensed Consolidating Statements of Cash Flows for the 26 weeks ended August 1, 2015 and August 2, 2014 are presented on the following pages. Condensed Consolidating Balance Sheet As of August 1, 2015 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated ASSETS: Current Assets: Cash and cash equivalents $ 511 $ 76 $ 256 $ — $ 843 Receivables — 85 249 — 334 Merchandise inventories — 2,780 2,842 — 5,622 Prepaid expenses and other current assets — 104 333 — 437 Income taxes 98 — — (98 ) — Total Current Assets 609 3,045 3,680 (98 ) 7,236 Property and Equipment – net — 4,230 3,474 — 7,704 Goodwill — 3,315 582 — 3,897 Other Intangible Assets – net — 62 461 — 523 Other Assets 2 74 680 — 756 Deferred Income Taxes 24 — — (24 ) — Intercompany Receivable — — 3,634 (3,634 ) — Investment in Subsidiaries 4,779 3,640 — (8,419 ) — Total Assets $ 5,414 $ 14,366 $ 12,511 $ (12,175 ) $ 20,116 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current Liabilities: Short-term debt $ — $ 82 $ 1 $ — $ 83 Merchandise accounts payable — 997 1,070 — 2,067 Accounts payable and accrued liabilities 23 981 1,274 — 2,278 Income taxes — 10 152 (98 ) 64 Deferred income taxes — 301 66 — 367 Total Current Liabilities 23 2,371 2,563 (98 ) 4,859 Long-Term Debt — 7,162 19 — 7,181 Intercompany Payable 483 3,151 — (3,634 ) — Deferred Income Taxes — 435 671 (24 ) 1,082 Other Liabilities 64 551 1,535 — 2,150 Shareholders' Equity 4,844 696 7,723 (8,419 ) 4,844 Total Liabilities and Shareholders' Equity $ 5,414 $ 14,366 $ 12,511 $ (12,175 ) $ 20,116 Condensed Consolidating Statement of Comprehensive Income For the 13 Weeks Ended August 1, 2015 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Net sales $ — $ 2,761 $ 5,049 $ (1,706 ) $ 6,104 Cost of sales — (1,688 ) (3,628 ) 1,706 (3,610 ) Gross margin — 1,073 1,421 — 2,494 Selling, general and administrative expenses — (1,025 ) (1,033 ) — (2,058 ) Operating income — 48 388 — 436 Interest (expense) income, net: External — (93 ) — — (93 ) Intercompany — (57 ) 57 — — Equity in earnings of subsidiaries 217 86 — (303 ) — Income (loss) before income taxes 217 (16 ) 445 (303 ) 343 Federal, state and local income — 42 (168 ) — (126 ) Net income $ 217 $ 26 $ 277 $ (303 ) $ 217 Comprehensive income $ 224 $ 33 $ 282 $ (315 ) $ 224 Condensed Consolidating Statement of Comprehensive Income For the 26 Weeks Ended August 1, 2015 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Net sales $ — $ 5,537 $ 10,740 $ (3,941 ) $ 12,336 Cost of sales — (3,497 ) (7,854 ) 3,941 (7,410 ) Gross margin — 2,040 2,886 — 4,926 Selling, general and administrative expenses (1 ) (2,005 ) (2,075 ) — (4,081 ) Operating income (loss) (1 ) 35 811 — 845 Interest (expense) income, net: External — (188 ) — — (188 ) Intercompany — (115 ) 115 — — Equity in earnings of subsidiaries 411 146 — (557 ) — Income (loss) before income taxes 410 (122 ) 926 (557 ) 657 Federal, state and local income — 79 (326 ) — (247 ) Net income (loss) $ 410 $ (43 ) $ 600 $ (557 ) $ 410 Comprehensive income (loss) $ 425 $ (28 ) $ 609 $ (581 ) $ 425 Condensed Consolidating Statement of Cash Flows For the 26 Weeks Ended August 1, 2015 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Cash flows from operating activities: Net income (loss) $ 410 $ (43 ) $ 600 $ (557 ) $ 410 Equity in earnings of subsidiaries (411 ) (146 ) — 557 — Dividends received from subsidiaries 337 — — (337 ) — Depreciation and amortization — 214 306 — 520 Increase in working capital (11 ) (17 ) (503 ) — (531 ) Other, net 24 2 (27 ) — (1 ) Net cash provided by operating activities 349 10 376 (337 ) 398 Cash flows from investing activities: Purchase of property and equipment and capitalized software, net — (158 ) (349 ) — (507 ) Other, net — 9 (117 ) — (108 ) Net cash used by investing activities — (149 ) (466 ) — (615 ) Cash flows from financing activities: Debt repaid — (72 ) — — (72 ) Dividends paid (227 ) — (337 ) 337 (227 ) Common stock acquired, net of (751 ) — — — (751 ) Intercompany activity, net (722 ) 262 460 — — Other, net (46 ) (69 ) (21 ) — (136 ) Net cash provided (used) by (1,746 ) 121 102 337 (1,186 ) Net increase (decrease) in cash (1,397 ) (18 ) 12 — (1,403 ) Cash and cash equivalents at beginning of period 1,908 94 244 — 2,246 Cash and cash equivalents at end of period $ 511 $ 76 $ 256 $ — $ 843 Condensed Consolidating Balance Sheet As of August 2, 2014 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated ASSETS: Current Assets: Cash and cash equivalents $ 1,287 $ 85 $ 258 $ — $ 1,630 Receivables — 91 261 — 352 Merchandise inventories — 2,799 2,617 — 5,416 Prepaid expenses and other current assets 6 94 299 — 399 Income taxes 34 — — (34 ) — Total Current Assets 1,327 3,069 3,435 (34 ) 7,797 Property and Equipment – net — 4,438 3,333 — 7,771 Goodwill — 3,315 428 — 3,743 Other Intangible Assets – net — 85 427 — 512 Other Assets 4 110 669 — 783 Deferred Income Taxes 20 — — (20 ) — Intercompany Receivable — — 3,412 (3,412 ) — Investment in Subsidiaries 4,832 3,340 — (8,172 ) — Total Assets $ 6,183 $ 14,357 $ 11,704 $ (11,638 ) $ 20,606 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current Liabilities: Short-term debt $ — $ 481 $ 2 $ — $ 483 Merchandise accounts payable — 926 1,064 — 1,990 Accounts payable and accrued liabilities 122 951 1,077 — 2,150 Income taxes — 45 109 (34 ) 120 Deferred income taxes — 305 88 — 393 Total Current Liabilities 122 2,708 2,340 (34 ) 5,136 Long-Term Debt — 6,709 20 — 6,729 Intercompany Payable 188 3,224 — (3,412 ) — Deferred Income Taxes — 568 739 (20 ) 1,287 Other Liabilities 66 482 1,099 — 1,647 Shareholders' Equity 5,807 666 7,506 (8,172 ) 5,807 Total Liabilities and Shareholders' Equity $ 6,183 $ 14,357 $ 11,704 $ (11,638 ) $ 20,606 Condensed Consolidating Statement of Comprehensive Income For the 13 Weeks Ended August 2, 2014 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Net sales $ — $ 2,961 $ 4,994 $ (1,688 ) $ 6,267 Cost of sales — (1,778 ) (3,582 ) 1,688 (3,672 ) Gross margin — 1,183 1,412 — 2,595 Selling, general and administrative expenses (2 ) (1,044 ) (978 ) — (2,024 ) Operating income (loss) (2 ) 139 434 — 571 Interest (expense) income, net: External — (100 ) — — (100 ) Intercompany — (58 ) 58 — — Equity in earnings of subsidiaries 293 113 — (406 ) — Income before income taxes 291 94 492 (406 ) 471 Federal, state and local income 1 3 (183 ) — (179 ) Net income $ 292 $ 97 $ 309 $ (406 ) $ 292 Comprehensive income $ 296 $ 101 $ 311 $ (412 ) $ 296 Condensed Consolidating Statement of Comprehensive Income For the 26 Weeks Ended August 2, 2014 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Net sales $ — $ 5,879 $ 10,451 $ (3,784 ) $ 12,546 Cost of sales — (3,664 ) (7,628 ) 3,784 (7,508 ) Gross margin — 2,215 2,823 — 5,038 Selling, general and administrative expenses (4 ) (2,052 ) (1,968 ) — (4,024 ) Operating income (loss) (4 ) 163 855 — 1,014 Interest (expense) income, net: External — (200 ) — — (200 ) Intercompany — (116 ) 116 — — Equity in earnings of subsidiaries 518 179 — (697 ) — Income before income taxes 514 26 971 (697 ) 814 Federal, state and local income 2 41 (341 ) — (298 ) Net income $ 516 $ 67 $ 630 $ (697 ) $ 516 Comprehensive income $ 524 $ 75 $ 634 $ (709 ) $ 524 Condensed Consolidating Statement of Cash Flows For the 26 Weeks Ended August 2, 2014 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Cash flows from operating activities: Net income $ 516 $ 67 $ 630 $ (697 ) $ 516 Equity in earnings of subsidiaries (518 ) (179 ) — 697 — Dividends received from subsidiaries 319 — — (319 ) — Depreciation and amortization — 225 282 — 507 (Increase) decrease in working capital 55 8 (347 ) — (284 ) Other, net 6 (27 ) 18 — (3 ) Net cash provided by operating activities 378 94 583 (319 ) 736 Cash flows from investing activities: Purchase of property and equipment and capitalized software, net — (117 ) (310 ) — (427 ) Other, net — 6 43 — 49 Net cash used by investing activities — (111 ) (267 ) — (378 ) Cash flows from financing activities: Debt issued, net of debt repaid — 42 (1 ) — 41 Dividends paid (204 ) — (319 ) 319 (204 ) Common stock acquired, net of (773 ) — — — (773 ) Intercompany activity, net (137 ) 8 129 — — Other, net 68 (32 ) (101 ) — (65 ) Net cash provided (used) by (1,046 ) 18 (292 ) 319 (1,001 ) Net increase (decrease) in cash and (668 ) 1 24 — (643 ) Cash and cash equivalents at beginning of period 1,955 84 234 — 2,273 Cash and cash equivalents at end of period $ 1,287 $ 85 $ 258 $ — $ 1,630 Condensed Consolidating Balance Sheet As of January 31, 2015 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated ASSETS: Current Assets: Cash and cash equivalents $ 1,908 $ 94 $ 244 $ — $ 2,246 Receivables — 97 327 — 424 Merchandise inventories — 2,817 2,699 — 5,516 Prepaid expenses and other current assets — 113 380 — 493 Income taxes 88 — — (88 ) — Total Current Assets 1,996 3,121 3,650 (88 ) 8,679 Property and Equipment – net — 4,315 3,485 — 7,800 Goodwill — 3,315 428 — 3,743 Other Intangible Assets – net — 73 423 — 496 Other Assets 1 74 668 — 743 Deferred Income Taxes 10 — — (10 ) — Intercompany Receivable — — 4,140 (4,140 ) — Investment in Subsidiaries 4,655 3,526 — (8,181 ) — Total Assets $ 6,662 $ 14,424 $ 12,794 $ (12,419 ) $ 21,461 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current Liabilities: Short-term debt $ — $ 75 $ 1 $ — $ 76 Merchandise accounts payable — 784 909 — 1,693 Accounts payable and accrued liabilities 42 1,360 1,707 — 3,109 Income taxes — 22 362 (88 ) 296 Deferred income taxes — 295 67 — 362 Total Current Liabilities 42 2,536 3,046 (88 ) 5,536 Long-Term Debt — 7,245 20 — 7,265 Intercompany Payable 1,215 2,925 — (4,140 ) — Deferred Income Taxes — 414 677 (10 ) 1,081 Other Liabilities 27 593 1,581 — 2,201 Shareholders' Equity 5,378 711 7,470 (8,181 ) 5,378 Total Liabilities and Shareholders' Equity $ 6,662 $ 14,424 $ 12,794 $ (12,419 ) $ 21,461

Summary of Significant Accoun13

Summary of Significant Accounting Policies (Policy)	6 Months Ended
	Aug. 01, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature Of Operations	Nature of Operations Macy's, Inc. and subsidiaries (the "Company") is an omnichannel retail organization operating stores, websites and mobile applications under three brands (Macy's, Bloomingdale's and Bluemercury) that sell a wide range of merchandise, including apparel and accessories (men's, women's and children's), cosmetics, home furnishings and other consumer goods. The Company's operations include approximately 885 stores in 45 states, the District of Columbia, Guam and Puerto Rico, as well as macys.com, bloomingdales.com and bluemercury.com. In addition, Bloomingdale's in Dubai, United Arab Emirates is operated under a license agreement with Al Tayer Insignia, a company of Al Tayer Group, LLC.
Use Of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Such estimates and assumptions are subject to inherent uncertainties, which may result in actual amounts differing from reported amounts. The Consolidated Financial Statements for the 13 and 26 weeks ended August 1, 2015 and August 2, 2014 , in the opinion of management, include all adjustments (consisting only of normal recurring adjustments) considered necessary to present fairly, in all material respects, the consolidated financial position and results of operations of the Company.
Reclassifications	Reclassifications Certain reclassifications were made to prior years’ amounts to conform with the classifications of such amounts for the most recent fiscal period.
Comprehensive Income	Comprehensive Income Total comprehensive income represents the change in equity during a period from sources other than transactions with shareholders and, as such, includes net income. For the Company, the only other component of total comprehensive income for the 13 and 26 weeks ended August 1, 2015 and August 2, 2014 is the amortization of post employment and postretirement plan items. These reclassifications out of accumulated other comprehensive loss are included in the computation of net periodic benefit cost (income) and are included in selling, general and administrative expenses on the Consolidated Statements of Income. See Note 4, "Benefit Plans," for further information.

Fair Value Measurements Impairm

Fair Value Measurements Impairment Policy (Policies)	6 Months Ended
	Aug. 01, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Impairment Review	The Company reviews the carrying value of its goodwill and other intangible assets with indefinite lives at least annually for possible impairment in accordance with ASC Topic 350, “Intangibles - Goodwill and Other.” Goodwill and other intangible assets with indefinite lives have been assigned to reporting units for purposes of impairment testing. The reporting units are the Company's retail operations. Goodwill and other intangible assets with indefinite lives are tested for impairment annually at the end of the fiscal month of May. During the second quarter of fiscal 2015, the Company completed its annual impairment test of goodwill and indefinite lived intangible assets and determined that goodwill and indefinite lived intangible assets were not impaired as of May 30, 2015. The use of different assumptions, estimates or judgments in the testing process, including with respect to the analysis of macroeconomic conditions, industry, market and other economic considerations and actual and expected financial performance, the estimated future cash flows and the discount rates used to discount such estimated cash flows to their net present values, could materially increase or decrease the estimated fair values and, accordingly, could impact the results of the annual impairment tests.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Aug. 01, 2015
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following tables set forth the computation of basic and diluted earnings per share: 13 Weeks Ended August 1, 2015 August 2, 2014 Net Income Shares Net Income Shares (millions, except per share data) Net income and average number of shares outstanding $ 217 334.9 $ 292 358.3 Shares to be issued under deferred 0.8 0.9 $ 217 335.7 $ 292 359.2 Basic earnings per share $ .65 $ .81 Effect of dilutive securities: Stock options, restricted stock and restricted stock units 5.3 6.2 $ 217 341.0 $ 292 365.4 Diluted earnings per share $ .64 $ .80 26 Weeks Ended August 1, 2015 August 2, 2014 Net Income Shares Net Income Shares (millions, except per share data) Net income and average number of shares outstanding $ 410 337.3 $ 516 361.5 Shares to be issued under deferred 0.9 1.0 $ 410 338.2 $ 516 362.5 Basic earnings per share $ 1.21 $ 1.42 Effect of dilutive securities: Stock options, restricted stock and restricted stock units 5.5 6.5 $ 410 343.7 $ 516 369.0 Diluted earnings per share $ 1.19 $ 1.40

Financing Activities Financing

Financing Activities Financing Activites (Tables)	6 Months Ended
	Aug. 01, 2015
Extinguishment of Debt [Line Items]
Detail of Debt Repayments	The following table shows the detail of debt repayments: 26 Weeks Ended August 1, 2015 August 2, 2014 (millions) 7.5% Senior debentures due 2015 $ 69 $ — 5.75% Senior notes due 2014 — 453 9.5% amortizing debentures due 2021 2 2 9.75% amortizing debentures due 2021 1 1 Capital leases and other obligations — 3 $ 72 $ 459

Benefit Plans (Tables)

Benefit Plans (Tables)	6 Months Ended
	Aug. 01, 2015
Pension and Other Postretirement Benefit Expense [Abstract]
Schedule of Costs of Retirement Plans	The defined contribution plan expense and actuarially determined components of the net periodic benefit cost (income) associated with the defined benefit plans are as follows: 13 Weeks Ended 26 Weeks Ended August 1, 2015 August 2, 2014 August 1, 2015 August 2, 2014 (millions) 401(k) Defined Contribution Plan $ 24 $ 25 $ 47 $ 50 Pension Plan Service cost $ 1 $ 1 $ 3 $ 3 Interest cost 34 37 68 75 Expected return on assets (58 ) (62 ) (117 ) (123 ) Recognition of net actuarial loss 9 7 19 13 Amortization of prior service credit — — — — $ (14 ) $ (17 ) $ (27 ) $ (32 ) Supplementary Retirement Plan Service cost $ — $ — $ — $ — Interest cost 8 9 16 17 Recognition of net actuarial loss 2 1 5 2 Amortization of prior service cost — — — — $ 10 $ 10 $ 21 $ 19 Total Retirement Expense $ 20 $ 18 $ 41 $ 37 Postretirement Obligations Service cost $ — $ — $ — $ — Interest cost 2 2 4 4 Recognition of net actuarial gain — (1 ) — (2 ) Amortization of prior service cost — — — — $ 2 $ 1 $ 4 $ 2

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Aug. 01, 2015
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract]
Fair Value of Assets Measured on a Recurring Basis	The following table shows the Company's financial assets that are required to be measured at fair value on a recurring basis, by level within the hierarchy as defined by applicable accounting standards: August 1, 2015 August 2, 2014 Fair Value Measurements Fair Value Measurements Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (millions) Marketable equity and debt securities $ 101 $ — $ 101 $ — $ 91 $ — $ 91 $ —
Estimated Fair Values of Company's Long Term Debt	The following table shows the estimated fair value of the Company's long-term debt: August 1, 2015 August 2, 2014 Notional Amount Carrying Amount Fair Value Notional Amount Carrying Amount Fair Value (millions) Long-term debt $ 6,994 $ 7,153 $ 7,585 $ 6,544 $ 6,713 $ 7,375

Condensed Consolidating Finan19

Condensed Consolidating Financial Information (Tables)	6 Months Ended
	Aug. 01, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Balance Sheet [Table Text Block]	Condensed Consolidating Balance Sheet As of January 31, 2015 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated ASSETS: Current Assets: Cash and cash equivalents $ 1,908 $ 94 $ 244 $ — $ 2,246 Receivables — 97 327 — 424 Merchandise inventories — 2,817 2,699 — 5,516 Prepaid expenses and other current assets — 113 380 — 493 Income taxes 88 — — (88 ) — Total Current Assets 1,996 3,121 3,650 (88 ) 8,679 Property and Equipment – net — 4,315 3,485 — 7,800 Goodwill — 3,315 428 — 3,743 Other Intangible Assets – net — 73 423 — 496 Other Assets 1 74 668 — 743 Deferred Income Taxes 10 — — (10 ) — Intercompany Receivable — — 4,140 (4,140 ) — Investment in Subsidiaries 4,655 3,526 — (8,181 ) — Total Assets $ 6,662 $ 14,424 $ 12,794 $ (12,419 ) $ 21,461 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current Liabilities: Short-term debt $ — $ 75 $ 1 $ — $ 76 Merchandise accounts payable — 784 909 — 1,693 Accounts payable and accrued liabilities 42 1,360 1,707 — 3,109 Income taxes — 22 362 (88 ) 296 Deferred income taxes — 295 67 — 362 Total Current Liabilities 42 2,536 3,046 (88 ) 5,536 Long-Term Debt — 7,245 20 — 7,265 Intercompany Payable 1,215 2,925 — (4,140 ) — Deferred Income Taxes — 414 677 (10 ) 1,081 Other Liabilities 27 593 1,581 — 2,201 Shareholders' Equity 5,378 711 7,470 (8,181 ) 5,378 Total Liabilities and Shareholders' Equity $ 6,662 $ 14,424 $ 12,794 $ (12,419 ) $ 21,461 Condensed Consolidating Balance Sheet As of August 2, 2014 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated ASSETS: Current Assets: Cash and cash equivalents $ 1,287 $ 85 $ 258 $ — $ 1,630 Receivables — 91 261 — 352 Merchandise inventories — 2,799 2,617 — 5,416 Prepaid expenses and other current assets 6 94 299 — 399 Income taxes 34 — — (34 ) — Total Current Assets 1,327 3,069 3,435 (34 ) 7,797 Property and Equipment – net — 4,438 3,333 — 7,771 Goodwill — 3,315 428 — 3,743 Other Intangible Assets – net — 85 427 — 512 Other Assets 4 110 669 — 783 Deferred Income Taxes 20 — — (20 ) — Intercompany Receivable — — 3,412 (3,412 ) — Investment in Subsidiaries 4,832 3,340 — (8,172 ) — Total Assets $ 6,183 $ 14,357 $ 11,704 $ (11,638 ) $ 20,606 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current Liabilities: Short-term debt $ — $ 481 $ 2 $ — $ 483 Merchandise accounts payable — 926 1,064 — 1,990 Accounts payable and accrued liabilities 122 951 1,077 — 2,150 Income taxes — 45 109 (34 ) 120 Deferred income taxes — 305 88 — 393 Total Current Liabilities 122 2,708 2,340 (34 ) 5,136 Long-Term Debt — 6,709 20 — 6,729 Intercompany Payable 188 3,224 — (3,412 ) — Deferred Income Taxes — 568 739 (20 ) 1,287 Other Liabilities 66 482 1,099 — 1,647 Shareholders' Equity 5,807 666 7,506 (8,172 ) 5,807 Total Liabilities and Shareholders' Equity $ 6,183 $ 14,357 $ 11,704 $ (11,638 ) $ 20,606 Condensed Consolidating Balance Sheet As of August 1, 2015 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated ASSETS: Current Assets: Cash and cash equivalents $ 511 $ 76 $ 256 $ — $ 843 Receivables — 85 249 — 334 Merchandise inventories — 2,780 2,842 — 5,622 Prepaid expenses and other current assets — 104 333 — 437 Income taxes 98 — — (98 ) — Total Current Assets 609 3,045 3,680 (98 ) 7,236 Property and Equipment – net — 4,230 3,474 — 7,704 Goodwill — 3,315 582 — 3,897 Other Intangible Assets – net — 62 461 — 523 Other Assets 2 74 680 — 756 Deferred Income Taxes 24 — — (24 ) — Intercompany Receivable — — 3,634 (3,634 ) — Investment in Subsidiaries 4,779 3,640 — (8,419 ) — Total Assets $ 5,414 $ 14,366 $ 12,511 $ (12,175 ) $ 20,116 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current Liabilities: Short-term debt $ — $ 82 $ 1 $ — $ 83 Merchandise accounts payable — 997 1,070 — 2,067 Accounts payable and accrued liabilities 23 981 1,274 — 2,278 Income taxes — 10 152 (98 ) 64 Deferred income taxes — 301 66 — 367 Total Current Liabilities 23 2,371 2,563 (98 ) 4,859 Long-Term Debt — 7,162 19 — 7,181 Intercompany Payable 483 3,151 — (3,634 ) — Deferred Income Taxes — 435 671 (24 ) 1,082 Other Liabilities 64 551 1,535 — 2,150 Shareholders' Equity 4,844 696 7,723 (8,419 ) 4,844 Total Liabilities and Shareholders' Equity $ 5,414 $ 14,366 $ 12,511 $ (12,175 ) $ 20,116
Condensed Consolidating Statement of Comprehensive Income [Table Text Block]	Condensed Consolidating Statement of Comprehensive Income For the 13 Weeks Ended August 2, 2014 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Net sales $ — $ 2,961 $ 4,994 $ (1,688 ) $ 6,267 Cost of sales — (1,778 ) (3,582 ) 1,688 (3,672 ) Gross margin — 1,183 1,412 — 2,595 Selling, general and administrative expenses (2 ) (1,044 ) (978 ) — (2,024 ) Operating income (loss) (2 ) 139 434 — 571 Interest (expense) income, net: External — (100 ) — — (100 ) Intercompany — (58 ) 58 — — Equity in earnings of subsidiaries 293 113 — (406 ) — Income before income taxes 291 94 492 (406 ) 471 Federal, state and local income 1 3 (183 ) — (179 ) Net income $ 292 $ 97 $ 309 $ (406 ) $ 292 Comprehensive income $ 296 $ 101 $ 311 $ (412 ) $ 296 Condensed Consolidating Statement of Comprehensive Income For the 26 Weeks Ended August 2, 2014 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Net sales $ — $ 5,879 $ 10,451 $ (3,784 ) $ 12,546 Cost of sales — (3,664 ) (7,628 ) 3,784 (7,508 ) Gross margin — 2,215 2,823 — 5,038 Selling, general and administrative expenses (4 ) (2,052 ) (1,968 ) — (4,024 ) Operating income (loss) (4 ) 163 855 — 1,014 Interest (expense) income, net: External — (200 ) — — (200 ) Intercompany — (116 ) 116 — — Equity in earnings of subsidiaries 518 179 — (697 ) — Income before income taxes 514 26 971 (697 ) 814 Federal, state and local income 2 41 (341 ) — (298 ) Net income $ 516 $ 67 $ 630 $ (697 ) $ 516 Comprehensive income $ 524 $ 75 $ 634 $ (709 ) $ 524 Condensed Consolidating Statement of Comprehensive Income For the 13 Weeks Ended August 1, 2015 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Net sales $ — $ 2,761 $ 5,049 $ (1,706 ) $ 6,104 Cost of sales — (1,688 ) (3,628 ) 1,706 (3,610 ) Gross margin — 1,073 1,421 — 2,494 Selling, general and administrative expenses — (1,025 ) (1,033 ) — (2,058 ) Operating income — 48 388 — 436 Interest (expense) income, net: External — (93 ) — — (93 ) Intercompany — (57 ) 57 — — Equity in earnings of subsidiaries 217 86 — (303 ) — Income (loss) before income taxes 217 (16 ) 445 (303 ) 343 Federal, state and local income — 42 (168 ) — (126 ) Net income $ 217 $ 26 $ 277 $ (303 ) $ 217 Comprehensive income $ 224 $ 33 $ 282 $ (315 ) $ 224 Condensed Consolidating Statement of Comprehensive Income For the 26 Weeks Ended August 1, 2015 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Net sales $ — $ 5,537 $ 10,740 $ (3,941 ) $ 12,336 Cost of sales — (3,497 ) (7,854 ) 3,941 (7,410 ) Gross margin — 2,040 2,886 — 4,926 Selling, general and administrative expenses (1 ) (2,005 ) (2,075 ) — (4,081 ) Operating income (loss) (1 ) 35 811 — 845 Interest (expense) income, net: External — (188 ) — — (188 ) Intercompany — (115 ) 115 — — Equity in earnings of subsidiaries 411 146 — (557 ) — Income (loss) before income taxes 410 (122 ) 926 (557 ) 657 Federal, state and local income — 79 (326 ) — (247 ) Net income (loss) $ 410 $ (43 ) $ 600 $ (557 ) $ 410 Comprehensive income (loss) $ 425 $ (28 ) $ 609 $ (581 ) $ 425
Condensed Consolidating Statement of Cash Flows [Table Text Block]	Condensed Consolidating Statement of Cash Flows For the 26 Weeks Ended August 1, 2015 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Cash flows from operating activities: Net income (loss) $ 410 $ (43 ) $ 600 $ (557 ) $ 410 Equity in earnings of subsidiaries (411 ) (146 ) — 557 — Dividends received from subsidiaries 337 — — (337 ) — Depreciation and amortization — 214 306 — 520 Increase in working capital (11 ) (17 ) (503 ) — (531 ) Other, net 24 2 (27 ) — (1 ) Net cash provided by operating activities 349 10 376 (337 ) 398 Cash flows from investing activities: Purchase of property and equipment and capitalized software, net — (158 ) (349 ) — (507 ) Other, net — 9 (117 ) — (108 ) Net cash used by investing activities — (149 ) (466 ) — (615 ) Cash flows from financing activities: Debt repaid — (72 ) — — (72 ) Dividends paid (227 ) — (337 ) 337 (227 ) Common stock acquired, net of (751 ) — — — (751 ) Intercompany activity, net (722 ) 262 460 — — Other, net (46 ) (69 ) (21 ) — (136 ) Net cash provided (used) by (1,746 ) 121 102 337 (1,186 ) Net increase (decrease) in cash (1,397 ) (18 ) 12 — (1,403 ) Cash and cash equivalents at beginning of period 1,908 94 244 — 2,246 Cash and cash equivalents at end of period $ 511 $ 76 $ 256 $ — $ 843 Condensed Consolidating Statement of Cash Flows For the 26 Weeks Ended August 2, 2014 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Cash flows from operating activities: Net income $ 516 $ 67 $ 630 $ (697 ) $ 516 Equity in earnings of subsidiaries (518 ) (179 ) — 697 — Dividends received from subsidiaries 319 — — (319 ) — Depreciation and amortization — 225 282 — 507 (Increase) decrease in working capital 55 8 (347 ) — (284 ) Other, net 6 (27 ) 18 — (3 ) Net cash provided by operating activities 378 94 583 (319 ) 736 Cash flows from investing activities: Purchase of property and equipment and capitalized software, net — (117 ) (310 ) — (427 ) Other, net — 6 43 — 49 Net cash used by investing activities — (111 ) (267 ) — (378 ) Cash flows from financing activities: Debt issued, net of debt repaid — 42 (1 ) — 41 Dividends paid (204 ) — (319 ) 319 (204 ) Common stock acquired, net of (773 ) — — — (773 ) Intercompany activity, net (137 ) 8 129 — — Other, net 68 (32 ) (101 ) — (65 ) Net cash provided (used) by (1,046 ) 18 (292 ) 319 (1,001 ) Net increase (decrease) in cash and (668 ) 1 24 — (643 ) Cash and cash equivalents at beginning of period 1,955 84 234 — 2,273 Cash and cash equivalents at end of period $ 1,287 $ 85 $ 258 $ — $ 1,630

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Narrative) (Details) - Aug. 01, 2015	stores
Number of states in which entity operates	45
Minimum [Member]
Number of Stores	885

Earnings Per Share Earnings Per

Earnings Per Share Earnings Per Share (Narrative) (Details) - shares shares in Millions	6 Months Ended
	Aug. 01, 2015	Aug. 02, 2014
Stock Options [Member]
Stock options and restricted stock units outstanding, not included in computation of diluted earnings per share	3.4	3.2
Restricted Stock Units [Member]
Stock options and restricted stock units outstanding, not included in computation of diluted earnings per share	1.1	1

Earnings Per Share (Computation

Earnings Per Share (Computation Of Basic and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Aug. 01, 2015	Aug. 02, 2014	Aug. 01, 2015	Aug. 02, 2014
Earnings Per Share [Abstract]
Net income (loss)	$ 217	$ 292	$ 410	$ 516
Net income available to common stockholders, basic	217	292	410	516
Net income available to common stockholders, diluted	$ 217	$ 292	$ 410	$ 516
Basic earnings per share	$ 0.65	$ 0.81	$ 1.21	$ 1.42
Diluted earnings per share	$ 0.64	$ 0.80	$ 1.19	$ 1.40
Average number of shares issued, basic	334.9	358.3	337.3	361.5
Shares to be issued under deferred compensation and other plans	0.8	0.9	0.9	1
Average number of shares outstanding, basic	335.7	359.2	338.2	362.5
Effect of dilutive securities-stock options, restricted stock and restricted stock units	5.3	6.2	5.5	6.5
Average number of shares outstanding, diluted	341	365.4	343.7	369

Financing Activities (Details)

Financing Activities (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended	6 Months Ended
	Oct. 31, 2015	Aug. 01, 2015	Aug. 02, 2014	Aug. 17, 2015
Stock Repurchased During Period, Shares		13.9
Stock Repurchased During Period, Value		$ 937
Stock Repurchase Program, Remaining Authorized Repurchase Amount		1,595
Subsequent Event [Member]
Extinguishment of debt	$ 76
Seven Point Five Percent Senior Debentures Due Two Thousand Fifteen [Member]
Extinguishment of debt		$ 69	$ 0
Debt Instrument, Interest Rate, Stated Percentage		7.50%
Five Point Seven Five Percent Senior Notes Due Two Thousand Fourteen [Member]
Extinguishment of debt			$ 453
Debt Instrument, Interest Rate, Stated Percentage			5.75%
Eight Point One Two Five Percent Senior Debentures Due Two Thousand Thirty Five [Member] | Subsequent Event [Member]
Debt Instrument, Interest Rate, Stated Percentage				8.125%
Three point six two five percent senior notes due two thousand twenty four[Member]
Debt Instrument, Interest Rate, Stated Percentage			3.625%
Proceeds from Issuance of Debt			$ 500

Financing Activities (Detail Of

Financing Activities (Detail Of Debt Repayments) (Details) - USD ($) $ in Millions	6 Months Ended
	Aug. 01, 2015	Aug. 02, 2014
Debt repaid	$ 72	$ 459
Seven Point Five Percent Senior Debentures Due Two Thousand Fifteen [Member]
Extinguishment of debt	69	0
Five point seven five percent senior notes due 2014[Member]
Extinguishment of debt	0	453
9.5% Amortizing Debentures due Two Thousand Twenty One [Member]
Extinguishment of debt	2	2
9.75% Amortizing Debentures Due Two Thousand Twenty One [Member]
Extinguishment of debt	1	1
Capital Lease and Other Long-Term Obligations [Member]
Extinguishment of debt	$ 0	$ 3

Benefit Plans (Net Periodic Ben

Benefit Plans (Net Periodic Benefit Cost) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 01, 2015	Aug. 02, 2014	Aug. 01, 2015	Aug. 02, 2014
401(k) defined contribution plan expense	$ 24	$ 25	$ 47	$ 50
Total Retirement Expense	20	18	41	37
Pension Plan [Member]
Service cost	1	1	3	3
Interest cost	34	37	68	75
Expected return on assets	(58)	(62)	(117)	(123)
Recognition of net actuarial (gain) loss	9	7	19	13
Amortization of prior service credit	0	0	0	0
Defined Benefit Plan, Net Periodic Benefit Cost	(14)	(17)	(27)	(32)
Supplemental Employee Retirement Plan [Member]
Service cost	0	0	0	0
Interest cost	8	9	16	17
Recognition of net actuarial (gain) loss	2	1	5	2
Amortization of prior service credit	0	0	0	0
Defined Benefit Plan, Net Periodic Benefit Cost	10	10	21	19
Other Postretirement Benefit Plan [Member]
Service cost	0	0	0	0
Interest cost	2	2	4	4
Recognition of net actuarial (gain) loss	0	(1)	0	(2)
Amortization of prior service credit	0	0	0	0
Defined Benefit Plan, Net Periodic Benefit Cost	$ 2	$ 1	$ 4	$ 2

Fair Value Measurements (Financ

Fair Value Measurements (Financial Assets Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Millions	Aug. 01, 2015	Aug. 02, 2014
Marketable equity and debt securities	$ 101	$ 91
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Marketable equity and debt securities	0	0
Significant Observable Inputs (Level 2) [Member]
Marketable equity and debt securities	101	91
Significant Unobservable Inputs (Level 3) [Member]
Marketable equity and debt securities	$ 0	$ 0

Fair Value Measurements (Estima

Fair Value Measurements (Estimated Fair Value Of Company Long Term Debt) (Details) - USD ($) $ in Millions	Aug. 01, 2015	Aug. 02, 2014
Long-term debt	$ 7,585	$ 7,375
Carrying Amount
Long-term debt	7,153	6,713
Notional Amount
Long-term debt	$ 6,994	$ 6,544

Condensed Consolidating Finan28

Condensed Consolidating Financial Information (Condensed Consolidating Balance Sheet) (Details) - USD ($) $ in Millions	Aug. 01, 2015	Jan. 31, 2015	Aug. 02, 2014	Feb. 01, 2014
Current Assets:
Cash and cash equivalents	$ 843	$ 2,246	$ 1,630	$ 2,273
Receivables	334	424	352
Merchandise inventories	5,622	5,516	5,416
Prepaid expenses and other current assets	437	493	399
Income taxes	0	0	0
Total Current Assets	7,236	8,679	7,797
Property and Equipment - net	7,704	7,800	7,771
Goodwill	3,897	3,743	3,743
Other Intangible Assets - net	523	496	512
Other Assets	756	743	783
Deferred Income Taxes	0	0	0
Intercompany Receivable	0	0	0
Investment in Subsidiaries	0	0	0
Total Assets	20,116	21,461	20,606
Current Liabilities:
Short-term debt	83	76	483
Merchandise accounts payable	2,067	1,693	1,990
Accounts payable and accrued liabilities	2,278	3,109	2,150
Income taxes	64	296	120
Deferred income taxes	367	362	393
Total Current Liabilities	4,859	5,536	5,136
Long-Term Debt	7,181	7,265	6,729
Intercompany Payable	0	0	0
Deferred Income Taxes	1,082	1,081	1,287
Other Liabilities	2,150	2,201	1,647
Shareholders' Equity (Deficit)	4,844	5,378	5,807
Total Liabilities and Shareholders' Equity	20,116	21,461	20,606
Parent
Current Assets:
Cash and cash equivalents	511	1,908	1,287	1,955
Receivables	0	0	0
Merchandise inventories	0	0	0
Prepaid expenses and other current assets	0	0	6
Income taxes	98	88	34
Total Current Assets	609	1,996	1,327
Property and Equipment - net	0	0	0
Goodwill	0	0	0
Other Intangible Assets - net	0	0	0
Other Assets	2	1	4
Deferred Income Taxes	24	10	20
Intercompany Receivable	0	0	0
Investment in Subsidiaries	4,779	4,655	4,832
Total Assets	5,414	6,662	6,183
Current Liabilities:
Short-term debt	0	0	0
Merchandise accounts payable	0	0	0
Accounts payable and accrued liabilities	23	42	122
Income taxes	0	0	0
Deferred income taxes	0	0	0
Total Current Liabilities	23	42	122
Long-Term Debt	0	0	0
Intercompany Payable	483	1,215	188
Deferred Income Taxes	0	0	0
Other Liabilities	64	27	66
Shareholders' Equity (Deficit)	4,844	5,378	5,807
Total Liabilities and Shareholders' Equity	5,414	6,662	6,183
Subsidiary Issuer
Current Assets:
Cash and cash equivalents	76	94	85	84
Receivables	85	97	91
Merchandise inventories	2,780	2,817	2,799
Prepaid expenses and other current assets	104	113	94
Income taxes	0	0	0
Total Current Assets	3,045	3,121	3,069
Property and Equipment - net	4,230	4,315	4,438
Goodwill	3,315	3,315	3,315
Other Intangible Assets - net	62	73	85
Other Assets	74	74	110
Deferred Income Taxes	0	0	0
Intercompany Receivable	0	0	0
Investment in Subsidiaries	3,640	3,526	3,340
Total Assets	14,366	14,424	14,357
Current Liabilities:
Short-term debt	82	75	481
Merchandise accounts payable	997	784	926
Accounts payable and accrued liabilities	981	1,360	951
Income taxes	10	22	45
Deferred income taxes	301	295	305
Total Current Liabilities	2,371	2,536	2,708
Long-Term Debt	7,162	7,245	6,709
Intercompany Payable	3,151	2,925	3,224
Deferred Income Taxes	435	414	568
Other Liabilities	551	593	482
Shareholders' Equity (Deficit)	696	711	666
Total Liabilities and Shareholders' Equity	14,366	14,424	14,357
Other Subsidiaries
Current Assets:
Cash and cash equivalents	256	244	258	234
Receivables	249	327	261
Merchandise inventories	2,842	2,699	2,617
Prepaid expenses and other current assets	333	380	299
Income taxes	0	0	0
Total Current Assets	3,680	3,650	3,435
Property and Equipment - net	3,474	3,485	3,333
Goodwill	582	428	428
Other Intangible Assets - net	461	423	427
Other Assets	680	668	669
Deferred Income Taxes	0	0	0
Intercompany Receivable	3,634	4,140	3,412
Investment in Subsidiaries	0	0	0
Total Assets	12,511	12,794	11,704
Current Liabilities:
Short-term debt	1	1	2
Merchandise accounts payable	1,070	909	1,064
Accounts payable and accrued liabilities	1,274	1,707	1,077
Income taxes	152	362	109
Deferred income taxes	66	67	88
Total Current Liabilities	2,563	3,046	2,340
Long-Term Debt	19	20	20
Intercompany Payable	0	0	0
Deferred Income Taxes	671	677	739
Other Liabilities	1,535	1,581	1,099
Shareholders' Equity (Deficit)	7,723	7,470	7,506
Total Liabilities and Shareholders' Equity	12,511	12,794	11,704
Consolidating Adjustments
Current Assets:
Cash and cash equivalents	0	0	0	$ 0
Receivables	0	0	0
Merchandise inventories	0	0	0
Prepaid expenses and other current assets	0	0	0
Income taxes	(98)	(88)	(34)
Total Current Assets	(98)	(88)	(34)
Property and Equipment - net	0	0	0
Goodwill	0	0	0
Other Intangible Assets - net	0	0	0
Other Assets	0	0	0
Deferred Income Taxes	(24)	(10)	(20)
Intercompany Receivable	(3,634)	(4,140)	(3,412)
Investment in Subsidiaries	(8,419)	(8,181)	(8,172)
Total Assets	(12,175)	(12,419)	(11,638)
Current Liabilities:
Short-term debt	0	0	0
Merchandise accounts payable	0	0	0
Accounts payable and accrued liabilities	0	0	0
Income taxes	(98)	(88)	(34)
Deferred income taxes	0	0	0
Total Current Liabilities	(98)	(88)	(34)
Long-Term Debt	0	0	0
Intercompany Payable	(3,634)	(4,140)	(3,412)
Deferred Income Taxes	(24)	(10)	(20)
Other Liabilities	0	0	0
Shareholders' Equity (Deficit)	(8,419)	(8,181)	(8,172)
Total Liabilities and Shareholders' Equity	$ (12,175)	$ (12,419)	$ (11,638)

Condensed Consolidating Finan29

Condensed Consolidating Financial Information (Condensed Consolidating Statement of Operations) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 01, 2015	Aug. 02, 2014	Aug. 01, 2015	Aug. 02, 2014
Net sales	$ 6,104	$ 6,267	$ 12,336	$ 12,546
Cost of sales	(3,610)	(3,672)	(7,410)	(7,508)
Gross margin	2,494	2,595	4,926	5,038
Selling, general and administrative expenses	(2,058)	(2,024)	(4,081)	(4,024)
Operating income (loss)	436	571	845	1,014
Interest (expense) income, net
External	(93)	(100)	(188)	(200)
Intercompany	0	0	0	0
Equity in earnings of subsidiaries	0	0	0	0
Income (loss) before income taxes	343	471	657	814
Federal, state and local income tax benefit (expense)	(126)	(179)	(247)	(298)
Net income (loss)	217	292	410	516
Comprehensive income (loss)	224	296	425	524
Parent
Net sales	0	0	0	0
Cost of sales	0	0	0	0
Gross margin	0	0	0	0
Selling, general and administrative expenses	0	(2)	(1)	(4)
Operating income (loss)	0	(2)	(1)	(4)
Interest (expense) income, net
External	0	0	0	0
Intercompany	0	0	0	0
Equity in earnings of subsidiaries	217	293	411	518
Income (loss) before income taxes	217	291	410	514
Federal, state and local income tax benefit (expense)	0	1	0	2
Net income (loss)	217	292	410	516
Comprehensive income (loss)	224	296	425	524
Subsidiary Issuer
Net sales	2,761	2,961	5,537	5,879
Cost of sales	(1,688)	(1,778)	(3,497)	(3,664)
Gross margin	1,073	1,183	2,040	2,215
Selling, general and administrative expenses	(1,025)	(1,044)	(2,005)	(2,052)
Operating income (loss)	48	139	35	163
Interest (expense) income, net
External	(93)	(100)	(188)	(200)
Intercompany	(57)	(58)	(115)	(116)
Equity in earnings of subsidiaries	86	113	146	179
Income (loss) before income taxes	(16)	94	(122)	26
Federal, state and local income tax benefit (expense)	42	3	79	41
Net income (loss)	26	97	(43)	67
Comprehensive income (loss)	33	101	(28)	75
Other Subsidiaries
Net sales	5,049	4,994	10,740	10,451
Cost of sales	(3,628)	(3,582)	(7,854)	(7,628)
Gross margin	1,421	1,412	2,886	2,823
Selling, general and administrative expenses	(1,033)	(978)	(2,075)	(1,968)
Operating income (loss)	388	434	811	855
Interest (expense) income, net
External	0	0	0	0
Intercompany	57	58	115	116
Equity in earnings of subsidiaries	0	0	0	0
Income (loss) before income taxes	445	492	926	971
Federal, state and local income tax benefit (expense)	(168)	(183)	(326)	(341)
Net income (loss)	277	309	600	630
Comprehensive income (loss)	282	311	609	634
Consolidating Adjustments
Net sales	(1,706)	(1,688)	(3,941)	(3,784)
Cost of sales	1,706	1,688	3,941	3,784
Gross margin	0	0	0	0
Selling, general and administrative expenses	0	0	0	0
Operating income (loss)	0	0	0	0
Interest (expense) income, net
External	0	0	0	0
Intercompany	0	0	0	0
Equity in earnings of subsidiaries	(303)	(406)	(557)	(697)
Income (loss) before income taxes	(303)	(406)	(557)	(697)
Federal, state and local income tax benefit (expense)	0	0	0	0
Net income (loss)	(303)	(406)	(557)	(697)
Comprehensive income (loss)	$ (315)	$ (412)	$ (581)	$ (709)

Condensed Consolidating Finan30

Condensed Consolidating Financial Information (Condensed Consolidating Statement of Cash Flows) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 01, 2015	Aug. 02, 2014	Aug. 01, 2015	Aug. 02, 2014
Cash flows from operating activities:
Net income (loss)	$ 217	$ 292	$ 410	$ 516
Equity in earnings of subsidiaries	0	0	0	0
Dividends received from subsidiaries			0	0
Depreciation and amortization			520	507
(Increase) decrease in working capital			(531)	(284)
Other, net			(1)	(3)
Net cash provided (used) by operating activities			398	736
Cash flows from investing activities:
Purchase of property and equipment and capitalized software, net			(507)	(427)
Other, net			(108)	49
Net cash used by investing activities			(615)	(378)
Cash flows from financing activities:
Debt issued (net of debt repaid)			(72)	41
Dividends paid			(227)	(204)
(Common stock acquired) net of issuance of common stock			(751)	(773)
Intercompany activity, net			0	0
Other, net			(136)	(65)
Net cash provided (used) by financing activities			(1,186)	(1,001)
Net increase (decrease) in cash and cash equivalents			(1,403)	(643)
Cash and cash equivalents beginning of period			2,246	2,273
Cash and cash equivalents end of period	843	1,630	843	1,630
Parent
Cash flows from operating activities:
Net income (loss)	217	292	410	516
Equity in earnings of subsidiaries	(217)	(293)	(411)	(518)
Dividends received from subsidiaries			337	319
Depreciation and amortization			0	0
(Increase) decrease in working capital			(11)	55
Other, net			24	6
Net cash provided (used) by operating activities			349	378
Cash flows from investing activities:
Purchase of property and equipment and capitalized software, net			0	0
Other, net			0	0
Net cash used by investing activities			0	0
Cash flows from financing activities:
Debt issued (net of debt repaid)			0	0
Dividends paid			(227)	(204)
(Common stock acquired) net of issuance of common stock			(751)	(773)
Intercompany activity, net			(722)	(137)
Other, net			(46)	68
Net cash provided (used) by financing activities			(1,746)	(1,046)
Net increase (decrease) in cash and cash equivalents			(1,397)	(668)
Cash and cash equivalents beginning of period			1,908	1,955
Cash and cash equivalents end of period	511	1,287	511	1,287
Subsidiary Issuer
Cash flows from operating activities:
Net income (loss)	26	97	(43)	67
Equity in earnings of subsidiaries	(86)	(113)	(146)	(179)
Dividends received from subsidiaries			0	0
Depreciation and amortization			214	225
(Increase) decrease in working capital			(17)	8
Other, net			2	(27)
Net cash provided (used) by operating activities			10	94
Cash flows from investing activities:
Purchase of property and equipment and capitalized software, net			(158)	(117)
Other, net			9	6
Net cash used by investing activities			(149)	(111)
Cash flows from financing activities:
Debt issued (net of debt repaid)			(72)	42
Dividends paid			0	0
(Common stock acquired) net of issuance of common stock			0	0
Intercompany activity, net			262	8
Other, net			(69)	(32)
Net cash provided (used) by financing activities			121	18
Net increase (decrease) in cash and cash equivalents			(18)	1
Cash and cash equivalents beginning of period			94	84
Cash and cash equivalents end of period	76	85	76	85
Other Subsidiaries
Cash flows from operating activities:
Net income (loss)	277	309	600	630
Equity in earnings of subsidiaries	0	0	0	0
Dividends received from subsidiaries			0	0
Depreciation and amortization			306	282
(Increase) decrease in working capital			(503)	(347)
Other, net			(27)	18
Net cash provided (used) by operating activities			376	583
Cash flows from investing activities:
Purchase of property and equipment and capitalized software, net			(349)	(310)
Other, net			(117)	43
Net cash used by investing activities			(466)	(267)
Cash flows from financing activities:
Debt issued (net of debt repaid)			0	(1)
Dividends paid			(337)	(319)
(Common stock acquired) net of issuance of common stock			0	0
Intercompany activity, net			460	129
Other, net			(21)	(101)
Net cash provided (used) by financing activities			102	(292)
Net increase (decrease) in cash and cash equivalents			12	24
Cash and cash equivalents beginning of period			244	234
Cash and cash equivalents end of period	256	258	256	258
Consolidating Adjustments
Cash flows from operating activities:
Net income (loss)	(303)	(406)	(557)	(697)
Equity in earnings of subsidiaries	303	406	557	697
Dividends received from subsidiaries			(337)	(319)
Depreciation and amortization			0	0
(Increase) decrease in working capital			0	0
Other, net			0	0
Net cash provided (used) by operating activities			(337)	(319)
Cash flows from investing activities:
Purchase of property and equipment and capitalized software, net			0	0
Other, net			0	0
Net cash used by investing activities			0	0
Cash flows from financing activities:
Debt issued (net of debt repaid)			0	0
Dividends paid			337	319
(Common stock acquired) net of issuance of common stock			0	0
Intercompany activity, net			0	0
Other, net			0	0
Net cash provided (used) by financing activities			337	319
Net increase (decrease) in cash and cash equivalents			0	0
Cash and cash equivalents beginning of period			0	0
Cash and cash equivalents end of period	$ 0	$ 0	$ 0	$ 0