Kohl's (KSS) 10-Q 2 Dec 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Oct. 29, 2016	Nov. 26, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	KOHLS CORP
Entity Central Index Key	885,639
Current Fiscal Year End Date	--01-28
Entity Filer Category	Large Accelerated Filer
Trading Symbol	KSS
Document Type	10-Q
Document Period End Date	Oct. 29, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		176,472,956

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Oct. 29, 2016	Jan. 30, 2016	Oct. 31, 2015
Current assets:
Cash and cash equivalents	$ 597	$ 707	$ 501
Merchandise inventories	4,721	4,038	5,254
Other	336	331	312
Total current assets	5,654	5,076	6,067
Property and equipment, net	8,203	8,308	8,499
Long-term investments	3,000	2,800	2,900
Other assets	219	222	228
Total assets	14,076	13,606	14,794
Current liabilities:
Accounts payable	2,097	1,251	2,141
Accrued liabilities	1,235	1,206	1,244
Income taxes payable	66	130	28
Short-term Debt	0	0	400
Current portion of capital lease and financing obligations	128	127	126
Total current liabilities	3,526	2,714	3,939
Long-term debt	2,794	2,792	2,792
Capital lease and financing obligations	1,702	1,789	1,817
Deferred income taxes	298	257	216
Other long-term liabilities	649	563	556
Shareholders’ equity:
Common stock	4	4	4
Paid-in capital	2,981	2,944	2,926
Treasury stock, at cost	(10,221)	(9,769)	(9,556)
Accumulated other comprehensive loss	(15)	(17)	(18)
Retained earnings	12,358	12,329	12,118
Total shareholders’ equity	5,107	5,491	5,474
Total liabilities and shareholders’ equity	$ 14,076	$ 13,606	$ 14,794

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 29, 2016	Oct. 31, 2015	Oct. 29, 2016	Oct. 31, 2015
Document Period End Date			Oct. 29, 2016
Net sales	$ 4,327	$ 4,427	$ 12,481	$ 12,817
Cost of merchandise sold	2,720	2,784	7,812	7,990
Gross margin	1,607	1,643	4,669	4,827
Operating expenses:
Selling, general and administrative	1,080	1,099	3,074	3,120
Depreciation and amortization	232	236	700	695
Impairments, store closing and other costs	(6)	0	186	0
Operating income	301	308	709	1,012
Interest expense, net	76	81	233	248
Gains (Losses) on Extinguishment of Debt	0	38	0	169
Income before income taxes	225	189	476	595
Provision for income taxes	$ 79	$ 69	173	218
Net income			$ 303	$ 377
Net income per share:
Basic (in dollars per share)	$ 0.83	$ 0.63	$ 1.68	$ 1.93
Diluted (in dollars per share)	0.83	0.63	1.68	1.92
Dividends declared and paid per share	$ 0.50	$ 0.45	$ 1.50	$ 1.35

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Paid-In Capital	Treasury Stock	Accumulated Other Comprehensive Income (Loss)	Retained Earnings [Member]
Long-term Debt, Fair Value	$ 2,800
Beginning Balance (in shares) at Jan. 30, 2016		(370)		(184)
Beginning Balance at Jan. 30, 2016	5,491	$ 4	$ 2,944	$ (9,769)	$ (17)	$ 12,329
Comprehensive income (loss)	305				2
Net income	303					303
Stock options and awards, (in shares)		1		0
Stock options and awards	22		37
Stock Issued During Period, Value, Stock Options Exercised				$ (15)
Dividends paid ($1.50 per common share)	(270)			$ (4)		(274)
Treasury stock purchases, (in shares)				(11)
Treasury stock purchases	(441)			$ (441)
Ending Balance (in shares) at Oct. 29, 2016		(371)		(195)
Ending Balance at Oct. 29, 2016	5,107	$ 4	$ 2,981	$ (10,221)	$ (15)	$ 12,358
Long-term Debt, Fair Value	$ 3,000

CONSOLIDATED STATEMENT OF CHAN5

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares shares in Millions	3 Months Ended		9 Months Ended
	Oct. 29, 2016	Oct. 31, 2015	Oct. 29, 2016	Oct. 31, 2015
Dividends declared and paid per share	$ 0.50	$ 0.45	$ 1.50	$ 1.35
Treasury Stock
Stock Issued During Period Shares Stock Options Exercised And Restricted Stock Grants			0

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Oct. 29, 2016	Oct. 31, 2015
Document Period End Date	Oct. 29, 2016
Payments of Debt Extinguishment Costs	$ 0	$ (163)
Operating activities
Net income	303	377
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	700	695
Share-based compensation	31	36
Excess tax benefits from share-based compensation	(4)	(10)
Deferred income taxes	40	(84)
Extinguishment of Debt, Amount	0	169
Impairments, store closing and other costs cash flow	57	0
Other non-cash revenues and expenses	20	23
Changes in operating assets and liabilities:
Merchandise inventories	(679)	(1,433)
Other current and long-term assets	20	74
Accounts payable	846	630
Accrued and other long-term liabilities	23	(6)
Income taxes	(77)	(64)
Net cash provided by operating activities	1,280	407
Investing activities
Acquisition of property and equipment	(591)	(551)
Other	7	3
Net cash used in investing activities	(584)	(548)
Financing activities
Treasury stock purchases	(441)	(789)
Shares withheld for taxes on vested restricted shares	(15)	(26)
Dividends paid	(270)	(264)
Proceeds from Lines of Credit	0	400
Proceeds from Issuance of Debt	0	1,088
Repayments of Long-term Debt	0	(1,085)
Capital lease and financing obligation payments	(95)	(83)
Proceeds from stock option exercises	6	146
Excess tax benefits from share-based compensation	4	10
Proceeds from financing obligations	5	1
Net cash used in financing activities	(806)	(765)
Net decrease in cash and cash equivalents	(110)	(906)
Cash and cash equivalents at beginning of period	707	1,407
Cash and cash equivalents at end of period	597	501
Supplemental information
Interest paid, net of capitalized interest	198	220
Income taxes paid	217	370
Non-cash investing and financing activities
Property and equipment acquired through additional liabilities	$ 39	$ 59

Basis of Presentation

Basis of Presentation	9 Months Ended
	Oct. 29, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Summary of Accounting Policies	Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for fiscal year end consolidated financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. For further information, refer to the consolidated financial statements and related footnotes included in our Annual Report on Form 10-K for the fiscal year ended January 30, 2016 (Commission File No. 1-11084) as filed with the Securities and Exchange Commission on March 18, 2016. Due to the seasonality of our business, results for any quarter are not necessarily indicative of the results that may be achieved for a full fiscal year. We operate as a single business unit. 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 supersedes the revenue recognition requirements in Accounting Standards Codification ("ASC") No. 605, "Revenue Recognition". In August 2015, the FASB issued ASU 2015-14, "Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date", which defers the effective date of ASU 2014-09 for all entities by one year. The original ASU is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This ASU is effective in the first quarter of 2018. It will change the way we account for sales returns, our loyalty program and certain promotional programs. Based on current estimates, we do not expect these provisions of the ASU to have a material impact on our financial statements. We are currently evaluating the impact other provisions of the standard may have on our financial statements. In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)". The core principle of the standard is that a lessee should recognize the assets and liabilities that arise from leases. A lessee should recognize in its statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. We will be required to adopt the new standard in the first quarter of 2019. We are currently evaluating the impact this new standard will have on our financial statements. In March 2016, the FASB issued ASU 2016-09, "Compensation - Stock Compensation (Topic 718)". This ASU modifies several aspects of accounting and reporting for share-based payment transactions. Under the new rules, excess income tax benefits and tax deficiencies related to share-based payments will be recognized within income tax expense in the statement of income, rather than within additional paid-in capital on the balance sheet. We are currently evaluating the potential impact that this provision, which is to be applied prospectively, will have on our financial statements. ASU 2016-09 also permits changes to an employers’ accounting for an employee’s use of shares to satisfy the employer’s statutory income tax withholding obligation and for forfeitures. We will be required to adopt this new standard in the first quarter of 2017. We do not expect these provisions will have a material impact on our financial statements. In 2015, we adopted ASU No. 2015-17, "Balance Sheet Classification of Deferred Taxes (Topic 740)" which requires us to present deferred tax liabilities and assets as non-current in our balance sheet and corrected the presentation of certain other tax assets and liabilities. The following table summarizes changes to our October 31, 2015 balance sheet: (Dollars in Millions) Prior Classification Current Classification Deferred taxes Current deferred tax asset Long-term deferred tax liability $ 136 Deferred taxes Long-term deferred tax liability Other long-term assets 32 Deferred taxes Other long-term liabilities Long-term deferred tax liability 15

Debt

Debt	9 Months Ended
	Oct. 29, 2016
Debt [Abstract]
Debt	Debt Long-term debt consists of the following unsecured senior debt: Outstanding Maturity Effective Rate Coupon Rate October 29, 2016 January 30, 2016 October 31, 2015 (Dollars in Millions) 2021 4.81 % 4.00 % $ 650 $ 650 $ 650 2023 3.25 % 3.25 % 350 350 350 2023 4.78 % 4.75 % 300 300 300 2025 4.25 % 4.25 % 650 650 650 2029 7.36 % 7.25 % 99 99 99 2033 6.05 % 6.00 % 166 166 166 2037 6.89 % 6.88 % 150 150 150 2045 5.57 5.55 450 450 450 4.88 % 2,815 2,815 2,815 Unamortized debt discount (5 ) (5 ) (5 ) Deferred financing costs (16 ) (18 ) (18 ) Long-term debt $ 2,794 $ 2,792 $ 2,792 ASC No. 820, "Fair Value Measurements and Disclosures", requires fair value measurements be classified in various pricing categories. Our long-term debt is classified as Level 1, financial instruments with unadjusted, quoted prices listed on active market exchanges. The estimated fair value of our long-term debt was $3.0 billion at October 29, 2016 , $2.8 billion at January 30, 2016, and $2.9 billion at October 31, 2015.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Oct. 29, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Stock-Based Compensation The following table summarizes our stock-based compensation activity for the nine months ended October 29, 2016 : Stock Options Nonvested Stock Awards Performance Share Units (Shares and Units in Thousands) Shares Weighted Average Exercise Price Shares Weighted Average Grant Date Fair Value Units Weighted Average Grant Date Fair Value Balance at beginning of period 3,076 $ 52.65 2,211 $ 57.37 347 $ 67.53 Granted — — 1,342 46.26 12 67.48 Exercised/vested (150 ) 41.80 (835 ) 56.19 — — Forfeited/expired (298 ) 55.07 (235 ) 55.34 (32 ) 67.98 Balance at end of period 2,628 $ 53.00 2,483 $ 51.95 327 $ 67.49

Contingencies

Contingencies	9 Months Ended
	Oct. 29, 2016
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies We are subject to certain legal proceedings and claims arising out of the conduct of our business. In the opinion of management, the outcome of these proceedings and litigation will not have a material adverse impact on our consolidated financial statements.

Net Income Per Section

Net Income Per Section	9 Months Ended
	Oct. 29, 2016
Net Income Per Section [Abstract]
Earnings Per Share	Net Income Per Share The following table summarizes our basic and diluted net income per share calculations: Three Months Ended Nine Months Ended (Dollar and Shares in Millions) October 29, October 31, October 29, October 31, Numerator—Net income $ 146 $ 120 $ 303 $ 377 Denominator—Weighted average shares: Basic 177 191 180 196 Impact of dilutive stock-based awards — 1 — 1 Diluted 177 192 180 197 Antidilutive shares 3 3 4 1

Store Closures (Notes)

Store Closures (Notes)	9 Months Ended
	Oct. 29, 2016
Restructuring, Impairment, and Other Activities Disclosure [Text Block]	On February 25, 2016, we announced plans to close 18 underperforming stores in fiscal 2016. The specific locations were announced in March 2016. Seventeen of the stores closed in June 2016. We closed the final store in November. Store employees impacted by the closures were offered the opportunity to work at nearby Kohl’s locations or a severance package. We recorded the following costs related to the store closures and the organizational realignment at our corporate office: Three Months Ended Nine Months Ended (Dollars in Millions) October 29, 2016 October 29, 2016 Store leases: Record future obligations $ (5 ) $ 114 Write-off net obligations — (21 ) Impairments: Software licenses — 23 Buildings and other store assets — 53 Severance and other (1 ) 17 Total $ (6 ) $ 186 The store lease future obligation charge represents the discounted value of rents and other lease liabilities under non-cancellable lease terms and will be paid over the next 13 years. All of the severance will be paid out within two years. The remaining charge is primarily non-cash write-offs of assets and liabilities that were previously recorded on our books. During the quarter ended October 29, 2016, we reversed $6 million of costs that were recorded earlier in the year. The reversal includes severance for corporate associates that have found re-employment elsewhere and lease liabilities for a store that will be used for corporate purposes. The following table summarizes changes in the store closure and restructure reserve during the quarter: (Dollars in Millions) Store Lease Operations Severance Total Balance - July 30, 2016 $ 118 $ 6 $ 124 Payments (3 ) (1 ) (4 ) Reversals (5 ) (1 ) (6 ) Balance - October 29, 2016 $ 110 $ 4 $ 114

Debt (Tables)

Debt (Tables)	9 Months Ended
	Oct. 29, 2016
Debt Disclosure [Abstract]
Components of long-term debt	Long-term debt consists of the following unsecured senior debt: Outstanding Maturity Effective Rate Coupon Rate October 29, 2016 January 30, 2016 October 31, 2015 (Dollars in Millions) 2021 4.81 % 4.00 % $ 650 $ 650 $ 650 2023 3.25 % 3.25 % 350 350 350 2023 4.78 % 4.75 % 300 300 300 2025 4.25 % 4.25 % 650 650 650 2029 7.36 % 7.25 % 99 99 99 2033 6.05 % 6.00 % 166 166 166 2037 6.89 % 6.88 % 150 150 150 2045 5.57 5.55 450 450 450 4.88 % 2,815 2,815 2,815 Unamortized debt discount (5 ) (5 ) (5 ) Deferred financing costs (16 ) (18 ) (18 ) Long-term debt $ 2,794 $ 2,792 $ 2,792

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Oct. 29, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]	The following table summarizes our stock-based compensation activity for the nine months ended October 29, 2016 : Stock Options Nonvested Stock Awards Performance Share Units (Shares and Units in Thousands) Shares Weighted Average Exercise Price Shares Weighted Average Grant Date Fair Value Units Weighted Average Grant Date Fair Value Balance at beginning of period 3,076 $ 52.65 2,211 $ 57.37 347 $ 67.53 Granted — — 1,342 46.26 12 67.48 Exercised/vested (150 ) 41.80 (835 ) 56.19 — — Forfeited/expired (298 ) 55.07 (235 ) 55.34 (32 ) 67.98 Balance at end of period 2,628 $ 53.00 2,483 $ 51.95 327 $ 67.49

Net Income Per Section Net Inco

Net Income Per Section Net Income Per Section (Tables)	9 Months Ended
	Oct. 29, 2016
Net Income Per Section [Abstract]
Basic and diluted net income per share calculation	The following table summarizes our basic and diluted net income per share calculations: Three Months Ended Nine Months Ended (Dollar and Shares in Millions) October 29, October 31, October 29, October 31, Numerator—Net income $ 146 $ 120 $ 303 $ 377 Denominator—Weighted average shares: Basic 177 191 180 196 Impact of dilutive stock-based awards — 1 — 1 Diluted 177 192 180 197 Antidilutive shares 3 3 4 1

Store Closures (Tables)

Store Closures (Tables)	9 Months Ended
	Oct. 29, 2016
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]	The following table summarizes changes in the store closure and restructure reserve during the quarter: (Dollars in Millions) Store Lease Operations Severance Total Balance - July 30, 2016 $ 118 $ 6 $ 124 Payments (3 ) (1 ) (4 ) Reversals (5 ) (1 ) (6 ) Balance - October 29, 2016 $ 110 $ 4 $ 114

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details) - USD ($) $ in Millions	Oct. 29, 2016	Jan. 30, 2016	Oct. 31, 2015
Basis of Presentation (Narrative) [Abstract]
Deferred Finance Costs, Net	$ 16	$ 18	$ 18
Deferred Tax Reclass			136
Deferred Tax Asset Reclass			32
FIN 48 Reclass			$ 15

Debt - Components of Long Term

Debt - Components of Long Term Debt (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 29, 2016	Oct. 31, 2015	Oct. 29, 2016	Oct. 31, 2015	Jan. 30, 2016
Debt Instrument [Line Items]
Long-term Debt, Fair Value	$ 3,000	$ 2,900	$ 3,000	$ 2,900	$ 2,800
Unamortized debt discount	(5)	(5)	(5)	(5)	(5)
Deferred Finance Costs, Net	(16)	(18)	(16)	(18)	(18)
Long-term debt	2,794	2,792	2,794	2,792	2,792
Gains (Losses) on Extinguishment of Debt	0	38	0	169
Payments of Debt Extinguishment Costs			0	163
Short-term Debt	$ 0	400	$ 0	400	0
Senior Notes
Debt Instrument [Line Items]
Effective Rate	5.00%		5.00%
Total senior debt	$ 2,815	2,815	$ 2,815	2,815	2,815
Senior Notes | Senior Notes Due Two Thousand And Twenty One [Member]
Debt Instrument [Line Items]
Effective Rate	5.00%		5.00%
Debt Instrument, Interest Rate, Stated Percentage	4.00%		4.00%
Total senior debt	$ 650	650	$ 650	650	650
Senior Notes | Senior Notes Due 2023
Debt Instrument [Line Items]
Effective Rate	3.00%		3.00%
Debt Instrument, Interest Rate, Stated Percentage	3.00%		3.00%
Total senior debt	$ 350	350	$ 350	350	350
Senior Notes | Senior Notes Due Twenty Twenty Three [Member]
Debt Instrument [Line Items]
Effective Rate	5.00%		5.00%
Debt Instrument, Interest Rate, Stated Percentage	5.00%		5.00%
Total senior debt	$ 300	300	$ 300	300	300
Senior Notes | Senior Notes Due Twenty Twenty Five [Member]
Debt Instrument [Line Items]
Effective Rate	4.00%		4.00%
Debt Instrument, Interest Rate, Stated Percentage	4.00%		4.00%
Total senior debt	$ 650	650	$ 650	650	650
Senior Notes | Senior Notes Due 2029
Debt Instrument [Line Items]
Effective Rate	7.00%		7.00%
Debt Instrument, Interest Rate, Stated Percentage	7.00%		7.00%
Total senior debt	$ 99	99	$ 99	99	99
Senior Notes | Senior Notes Due 2033
Debt Instrument [Line Items]
Effective Rate	6.00%		6.00%
Debt Instrument, Interest Rate, Stated Percentage	6.00%		6.00%
Total senior debt	$ 166	166	$ 166	166	166
Senior Notes | Senior Notes Due 2037
Debt Instrument [Line Items]
Effective Rate	7.00%		7.00%
Debt Instrument, Interest Rate, Stated Percentage	7.00%		7.00%
Total senior debt	$ 150	150	$ 150	150	150
Senior Notes | Senior Notes Due 2045
Debt Instrument [Line Items]
Effective Rate	6.00%		6.00%
Debt Instrument, Interest Rate, Stated Percentage	6.00%		6.00%
Total senior debt	$ 450	$ 450	$ 450	$ 450	$ 450

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	Oct. 29, 2016	Jan. 30, 2016	Oct. 31, 2015	Jan. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents, at Carrying Value	$ 597	$ 707	$ 501	$ 1,407
Long-term Debt, Excluding Current Maturities	2,794	2,792	2,792
Long Term Investments Fair Value	$ 3,000	$ 2,800	$ 2,900

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Based Compensation Grants (Details) - $ / shares shares in Thousands	9 Months Ended
	Oct. 29, 2016	Jan. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	2,483	2,211
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options		3,076
Restricted shares and units granted, excluding shares earned in lieu of cash dividends	1,342
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 46.26
Granted performance restricted share units	12
Performance Restricted Shares Fair Value, Granted	$ 67.48
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price		$ 52.65
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	(150)
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price	$ 41.80
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	(298)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	2,628
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 53
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 51.95	$ 57.37
Performance restricted shares units, beginning		347
Performance Restricted Shares, Fair Value Beginning		$ 67.53
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	(835)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	$ 56.19
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	(235)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Weighted Average Grant Date Fair Value	$ 55.34
Forfeited performance restricted share units	(32)
Performance Restricted Shares Fair Value, Forfeited	$ 67.98
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price	$ 55.07
Performance restricted shares units, ending	327
Performance Restricted Shares, Fair Value Ending	$ 67.49

Stock-Based Compensation Perfor

Stock-Based Compensation Performance Share Unit Activity (Details) - $ / shares shares in Thousands	9 Months Ended
	Oct. 29, 2016	Jan. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Restricted Shares, Fair Value Beginning		$ 67.53
Granted performance restricted share units	12
Performance Restricted Shares Fair Value, Granted	$ 67.48
Forfeited performance restricted share units	(32)
Performance Restricted Shares Fair Value, Forfeited	$ 67.98
Performance restricted shares units, ending	327
Performance Restricted Shares, Fair Value Ending	$ 67.49

Net Income Per Section Net In22

Net Income Per Section Net Income Per Section (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Oct. 29, 2016	Oct. 31, 2015	Oct. 29, 2016	Oct. 31, 2015	Nov. 01, 2014
Net income			$ 303	$ 377
Basic	177	191	180	196
Impact of dilutive stock-based awards	0	1	0	1
Diluted	177	192	180		197
Antidilutive shares	3	3	4	1
Retained Earnings [Member]
Net income	$ 146	$ 120	$ 303

Store Closures (Details)

Store Closures (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 29, 2016	Oct. 31, 2015	Oct. 29, 2016	Oct. 31, 2015	Jul. 30, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 114		$ 114		$ 124
Store closure, future lease obligation	(5)		114
Store closure, write-off net obligation	0		21
Impairment, software license	0		23
Restructuring and Related Cost, Incurred Cost	0		53
Severance and other store closure costs	(1)		17
Impairments, store closing and other costs	(6)	$ 0	186	$ 0
Payments for Restructuring	(4)
Restructuring Reserve, Accrual Adjustment	(6)
Contract Termination [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	110		110		118
Payments for Restructuring	(3)
Restructuring Reserve, Accrual Adjustment	(5)
Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	4		$ 4		$ 6
Payments for Restructuring	(1)
Restructuring Reserve, Accrual Adjustment	$ (1)