Kohl's (KSS) 10-Q 1 Dec 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Oct. 28, 2017	Nov. 25, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	KOHLS CORP
Entity Central Index Key	885,639
Current Fiscal Year End Date	--02-03
Entity Filer Category	Large Accelerated Filer
Trading Symbol	KSS
Document Type	10-Q
Document Period End Date	Oct. 28, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		168,004,787

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Oct. 28, 2017	Jan. 28, 2017	Oct. 29, 2016
Current assets:
Cash and cash equivalents	$ 736	$ 1,074	$ 597
Merchandise inventories	4,632	3,795	4,721
Other	332	378	336
Total current assets	5,700	5,247	5,654
Property and equipment, net	7,974	8,103	8,203
Long-term investments	2,900	2,700	3,000
Other assets	226	224	219
Total assets	13,900	13,574	14,076
Current liabilities:
Accounts payable	2,113	1,507	2,097
Accrued liabilities	1,237	1,224	1,235
Income taxes payable	24	112	66
Current portion of capital lease and financing obligations	131	131	128
Total current liabilities	3,505	2,974	3,526
Long-term debt	2,796	2,795	2,794
Capital lease and financing obligations	1,622	1,685	1,702
Deferred income taxes	275	272	298
Other long-term liabilities	673	671	649
Shareholders’ equity:
Common stock	4	4	4
Paid-in capital	3,039	3,003	2,981
Treasury stock, at cost	(10,633)	(10,338)	(10,221)
Accumulated other comprehensive loss	(12)	(14)	(15)
Retained earnings	12,631	12,522	12,358
Total shareholders’ equity	5,029	5,177	5,107
Total liabilities and shareholders’ equity	$ 13,900	$ 13,574	$ 14,076

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 28, 2017	Oct. 29, 2016	Oct. 28, 2017	Oct. 29, 2016
Net sales	$ 4,332	$ 4,327	$ 12,319	$ 12,481
Cost of merchandise sold	2,737	2,720	7,693	7,812
Gross margin	1,595	1,607	4,626	4,669
Operating expenses:
Selling, general and administrative	1,095	1,080	3,053	3,074
Depreciation and amortization	243	232	724	700
Impairments, store closing and other costs	0	(6)	0	186
Operating income	257	301	849	709
Interest expense, net	74	76	225	233
Income before income taxes	183	225	624	476
Provision for income taxes	$ 66	$ 79	233	173
Net income			$ 391	$ 303
Net income per share:
Basic (in dollars per share)	$ 0.70	$ 0.83	$ 2.33	$ 1.68
Diluted (in dollars per share)	$ 0.70	$ 0.83	2.32	$ 1.68
Dividends declared and paid per share			$ 1.10
Retained Earnings [Member]
Operating expenses:
Net income	$ 117	$ 146	$ 391	$ 303

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	$ 2,700
Beginning Balance (in shares) at Jan. 28, 2017		(371)		(197)
Beginning Balance at Jan. 28, 2017	5,177	$ 4	$ 3,003	$ (10,338)	$ (14)	$ 12,522
Comprehensive income (loss)	393				2
Net income	391					391
Stock options and awards, (in shares)		2		0
Stock options and awards	24		36
Stock Issued During Period, Value, Stock Options Exercised				$ (12)
Dividends paid ($1.65 per common share)	(277)		0	$ (5)		(282)
Treasury stock purchases, (in shares)				(8)
Treasury stock purchases	(288)			$ (288)
Ending Balance (in shares) at Oct. 28, 2017		(373)		(205)
Ending Balance at Oct. 28, 2017	5,029	$ 4	$ 3,039	$ (10,633)	$ (12)	$ 12,631
Long-term Debt, Fair Value	$ 2,900

CONSOLIDATED STATEMENT OF CHAN5

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) shares in Millions	9 Months Ended
	Oct. 28, 2017$ / sharesshares
Dividends declared and paid per share | $ / shares	$ 1.10
Treasury Stock
Stock Issued During Period Shares Stock Options Exercised And Restricted Stock Grants | shares	0

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Oct. 28, 2017	Oct. 29, 2016
Operating activities
Net income	$ 391	$ 303
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	724	700
Share-based compensation	34	31
Deferred income taxes	2	40
Impairments, store closing and other costs cash flow	0	57
Other non-cash revenues and expenses	(4)	20
Changes in operating assets and liabilities:
Merchandise inventories	(829)	(679)
Other current and long-term assets	47	20
Accounts payable	606	846
Accrued and other long-term liabilities	(11)	23
Income taxes	(91)	(77)
Net cash provided by operating activities	869	1,284
Investing activities
Purchases of property and equipment	(547)	(591)
Proceeds from sales of property and equipment	18	7
Net cash used in investing activities	(529)	(584)
Financing activities
Treasury stock purchases	(288)	(441)
Shares withheld for taxes on vested restricted shares	(12)	(15)
Dividends paid	(277)	(270)
Capital lease and financing obligation payments	(101)	(95)
Proceeds from stock option exercises	0	6
Proceeds from financing obligations	0	5
Net cash used in financing activities	(678)	(810)
Net decrease in cash and cash equivalents	(338)	(110)
Cash and cash equivalents at beginning of period	1,074	707
Cash and cash equivalents at end of period	736	597
Supplemental information
Interest paid, net of capitalized interest	192	198
Income taxes paid	322	217
Non-cash investing and financing activities
Property and equipment acquired through additional liabilities	$ 42	$ 39

Basis of Presentation

Basis of Presentation	9 Months Ended
	Oct. 28, 2017
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 ("GAAP") for interim financial information. Accordingly, they do not include all of the information and footnotes required by GAAP 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 28, 2017 (Commission File No. 1-11084) as filed with the Securities and Exchange Commission. 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. During 2017, we adopted the new accounting standard on share-based payments as required. The guidance simplifies several aspects of the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification of excess tax benefits in the Statements of Cash Flows. The adoption of the new standard resulted in the following: • Net tax detriments related to share-based compensation awards of $8 million for the nine months ended October 28, 2017 were recognized as increases to income tax expense in our Statements of Income. There was no impact to the quarter ended October 28, 2017. Prior to adoption of the new standard, this amount would have been recorded as a decrease in additional paid-in capital in our Balance Sheet. This change was accounted for prospectively and will likely create volatility in our future effective tax rate. • Accounting rules require us to use the treasury stock method when calculating potential common shares used to determine diluted earnings per share. The new standard requires that assumed proceeds under the treasury stock method be modified to exclude the amount of excess tax benefits that would have been recognized in additional paid-in capital. These changes were applied on a prospective basis and had an immaterial impact on our weighted average common shares outstanding for the quarter and nine months ended October 28, 2017. • The new standard requires that excess tax benefits from share-based employee awards be reported as operating activities in the Statements of Cash Flows. Previously, these cash flows were included in financing activities. We elected to retrospectively apply the presentation requirements. The retrospective application had a $4 million impact on our net cash provided by operating activities and net cash used in financing activities for the nine months ended October 29, 2016 . We elected not to change our policy on accounting for forfeitures and continue to estimate the total number of awards for which the requisite service period will not be rendered. At this time, we have not changed our policy on statutory withholding requirements and will continue to allow employees to withhold up to the minimum statutory withholding requirements. The following table provides a brief description of issued, but not yet effective, accounting standards: Standard Description Effect on our Financial Statements Revenue from Contracts with Customers (ASC Topic 606) Issued May 2014 Effective Q1 2018 The standard eliminates the transaction- and industry-specific revenue recognition guidance under current GAAP and replace​s​ it with a principle​s-based approach for revenue recognition​ and disclosures​. The standard 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 standard will have a material impact on our financial statements. We have evaluated the principal versus agent provisions of the standard and expect to continue to record sales gross as we are the principal in the transactions. We continue to evaluate the impact the standard will have on the presentation of net earnings of our credit card operations, which are currently reported in Selling, General and Administrative Expenses. We will elect an adoption methodology after we have evaluated the impact that all provisions of the standard will have on our financial statements. Leases (ASC Topic 842) Issued February 2016 Effective Q1 2019 Among other things, the new standard requires us to recognize a right of use asset and a lease liability on our balance sheet for leases. It also changes the presentation and timing of lease-related expenses. Less than 5% of our store leases and all of our land leases are not currently recorded on our balance sheet. Recording right of use assets and liabilities for these and other non-store leases is expected to have a material impact on our balance sheet. We are also evaluating the impact that recording right of use assets and liabilities will have on our income statement and the financial statement impact that the standard will have on leases which are currently recorded on our balance sheet.

Debt

Debt	9 Months Ended
	Oct. 28, 2017
Debt [Abstract]
Debt	Long-term debt consists of the following unsecured senior debt as of October 28, 2017 , January 28, 2017 , and October 29, 2016 : Maturity (Dollars in Millions) Effective Rate Coupon Rate Outstanding 2021 4.81 % 4.00 % $ 650 2023 3.25 % 3.25 % 350 2023 4.78 % 4.75 % 300 2025 4.25 % 4.25 % 650 2029 7.36 % 7.25 % 99 2033 6.05 % 6.00 % 166 2037 6.89 % 6.88 % 150 2045 5.57 % 5.55 % 450 4.88 % $ 2,815 Long-term debt is net of unamortized debt discounts and deferred financing costs of $19 million at October 28, 2017 , $20 million at January 28, 2017 , and $21 million at October 29, 2016 . 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 $2.9 billion at October 28, 2017 , $2.7 billion at January 28, 2017 and $3.0 billion at October 29, 2016 .

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Oct. 28, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	The following table summarizes our stock-based compensation activity for the nine months ended October 28, 2017 : 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 - January 28, 2017 2,350 $ 53.29 2,163 $ 52.75 512 $ 57.82 Granted — — 1,580 39.50 420 43.17 Exercised/vested — — (678 ) 52.45 (105 ) 57.58 Forfeited/expired (804 ) 58.33 (158 ) 50.60 — — Balance - October 28, 2017 1,546 $ 50.67 2,907 $ 45.74 827 $ 50.41

Contingencies

Contingencies	9 Months Ended
	Oct. 28, 2017
Commitments and Contingencies Disclosure [Abstract]
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. 28, 2017
Net Income Per Section [Abstract]
Earnings Per Share	Basic net income per share is net income divided by the average number of common shares outstanding during the period. Diluted net income per share includes incremental shares assumed for share-based awards. The information required to compute basic and diluted net income per share is as follows: Three Months Ended Nine Months Ended (Dollar and Shares in Millions, Except per Share Data) October 28, October 29, October 28, October 29, Numerator—Net income $ 117 $ 146 $ 391 $ 303 Denominator—Weighted average shares: Basic 166 177 168 180 Impact of dilutive stock-based awards — — — — Diluted 166 177 168 180 Antidilutive shares 2 3 3 4 Net income per share: Basic $ 0.70 $ 0.83 $ 2.33 $ 1.68 Diluted $ 0.70 $ 0.83 $ 2.32 $ 1.68

Store Closures (Notes)

Store Closures (Notes)	9 Months Ended
	Oct. 28, 2017
Restructuring, Impairment, and Other Activities Disclosure [Text Block]	The following table summarizes changes in the store closure and restructure reserve: (Dollars in Millions) Store Lease Obligations Severance Total Balance - January 28, 2017 $ 103 $ 3 $ 106 Payments (8 ) (2 ) (10 ) Reversals (5 ) — (5 ) Balance - October 28, 2017 $ 90 $ 1 $ 91

Debt (Tables)

Debt (Tables)	9 Months Ended
	Oct. 28, 2017
Debt Disclosure [Abstract]
Components of long-term debt	Long-term debt consists of the following unsecured senior debt as of October 28, 2017 , January 28, 2017 , and October 29, 2016 : Maturity (Dollars in Millions) Effective Rate Coupon Rate Outstanding 2021 4.81 % 4.00 % $ 650 2023 3.25 % 3.25 % 350 2023 4.78 % 4.75 % 300 2025 4.25 % 4.25 % 650 2029 7.36 % 7.25 % 99 2033 6.05 % 6.00 % 166 2037 6.89 % 6.88 % 150 2045 5.57 % 5.55 % 450 4.88 % $ 2,815

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Oct. 28, 2017
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 28, 2017 : 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 - January 28, 2017 2,350 $ 53.29 2,163 $ 52.75 512 $ 57.82 Granted — — 1,580 39.50 420 43.17 Exercised/vested — — (678 ) 52.45 (105 ) 57.58 Forfeited/expired (804 ) 58.33 (158 ) 50.60 — — Balance - October 28, 2017 1,546 $ 50.67 2,907 $ 45.74 827 $ 50.41

Net Income Per Section Net Inco

Net Income Per Section Net Income Per Section (Tables)	9 Months Ended
	Oct. 28, 2017
Net Income Per Section [Abstract]
Basic and diluted net income per share calculation	The information required to compute basic and diluted net income per share is as follows: Three Months Ended Nine Months Ended (Dollar and Shares in Millions, Except per Share Data) October 28, October 29, October 28, October 29, Numerator—Net income $ 117 $ 146 $ 391 $ 303 Denominator—Weighted average shares: Basic 166 177 168 180 Impact of dilutive stock-based awards — — — — Diluted 166 177 168 180 Antidilutive shares 2 3 3 4 Net income per share: Basic $ 0.70 $ 0.83 $ 2.33 $ 1.68 Diluted $ 0.70 $ 0.83 $ 2.32 $ 1.68

Store Closures (Tables)

Store Closures (Tables)	9 Months Ended
	Oct. 28, 2017
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: (Dollars in Millions) Store Lease Obligations Severance Total Balance - January 28, 2017 $ 103 $ 3 $ 106 Payments (8 ) (2 ) (10 ) Reversals (5 ) — (5 ) Balance - October 28, 2017 $ 90 $ 1 $ 91

Debt - Components of Long Term

Debt - Components of Long Term Debt (Details) - USD ($) $ in Millions	Oct. 28, 2017	Jan. 28, 2017	Oct. 29, 2016
Debt Instrument [Line Items]
Long-term Debt, Fair Value	$ 2,900	$ 2,700	$ 3,000
Unamortized debt discount	(19)	(20)	(21)
Long-term debt	$ 2,796	$ 2,795	$ 2,794
Senior Notes
Debt Instrument [Line Items]
Effective Rate	5.00%
Total senior debt	$ 2,815
Senior Notes | Senior Notes Due Two Thousand And Twenty One [Member]
Debt Instrument [Line Items]
Effective Rate	5.00%
Debt Instrument, Interest Rate, Stated Percentage	4.00%
Total senior debt	$ 650
Senior Notes | Senior Notes Due 2023
Debt Instrument [Line Items]
Effective Rate	3.00%
Debt Instrument, Interest Rate, Stated Percentage	3.00%
Total senior debt	$ 350
Senior Notes | Senior Notes Due Twenty Twenty Three [Member]
Debt Instrument [Line Items]
Effective Rate	5.00%
Debt Instrument, Interest Rate, Stated Percentage	5.00%
Total senior debt	$ 300
Senior Notes | Senior Notes Due Twenty Twenty Five [Member]
Debt Instrument [Line Items]
Effective Rate	4.00%
Debt Instrument, Interest Rate, Stated Percentage	4.00%
Total senior debt	$ 650
Senior Notes | Senior Notes Due 2029
Debt Instrument [Line Items]
Effective Rate	7.00%
Debt Instrument, Interest Rate, Stated Percentage	7.00%
Total senior debt	$ 99
Senior Notes | Senior Notes Due 2033
Debt Instrument [Line Items]
Effective Rate	6.00%
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Total senior debt	$ 166
Senior Notes | Senior Notes Due 2037
Debt Instrument [Line Items]
Effective Rate	7.00%
Debt Instrument, Interest Rate, Stated Percentage	7.00%
Total senior debt	$ 150
Senior Notes | Senior Notes Due 2045
Debt Instrument [Line Items]
Effective Rate	6.00%
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Total senior debt	$ 450

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	Oct. 28, 2017	Jan. 28, 2017	Oct. 29, 2016	Jan. 30, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents, at Carrying Value	$ 736	$ 1,074	$ 597	$ 707
Long-term Debt, Excluding Current Maturities	2,796	2,795	2,794
Long Term Investments Fair Value	$ 2,900	$ 2,700	$ 3,000

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Based Compensation Grants (Details) - $ / shares shares in Thousands	9 Months Ended
	Oct. 28, 2017	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	2,907	2,163
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options		2,350
Restricted shares and units granted, excluding shares earned in lieu of cash dividends	1,580
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 39.50
Granted performance restricted share units	420
Performance Restricted Shares Fair Value, Granted	$ 43.17
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price		$ 53.29
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	0
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	(804)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	1,546
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 50.67
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 45.74	$ 52.75
Performance restricted shares units, beginning		512
Performance Restricted Shares, Fair Value Beginning		$ 57.82
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	(158)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Weighted Average Grant Date Fair Value	$ 50.60
Forfeited performance restricted share units	0
Performance Restricted Shares Fair Value, Forfeited	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price	$ 58.33
Performance restricted shares units, ending	827
Performance Restricted Shares, Fair Value Ending	$ 50.41
Performance Shares [Member]
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, Vested in Period	(105)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	$ 57.58
Restricted Stock [Member]
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, Vested in Period	(678)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	$ 52.45

Stock-Based Compensation Perfor

Stock-Based Compensation Performance Share Unit Activity (Details) - $ / shares shares in Thousands	9 Months Ended
	Oct. 28, 2017	Jan. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Restricted Shares, Fair Value Beginning		$ 57.82
Granted performance restricted share units	420
Performance Restricted Shares Fair Value, Granted	$ 43.17
Forfeited performance restricted share units	0
Performance Restricted Shares Fair Value, Forfeited	$ 0
Performance restricted shares units, ending	827
Performance Restricted Shares, Fair Value Ending	$ 50.41

Net Income Per Section Net In21

Net Income Per Section Net Income Per Section (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Oct. 28, 2017	Oct. 29, 2016	Oct. 28, 2017	Oct. 29, 2016
Basic (in dollars per share)	$ 0.70	$ 0.83	$ 2.33	$ 1.68
Diluted (in dollars per share)	$ 0.70	$ 0.83	$ 2.32	$ 1.68
Net income			$ 391	$ 303
Basic	166	177	168	180
Impact of dilutive stock-based awards	0	0	0	0
Diluted	166	177	168	180
Antidilutive shares	2	3	3	4
Retained Earnings [Member]
Net income	$ 117	$ 146	$ 391	$ 303

Store Closures (Details)

Store Closures (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 28, 2017	Oct. 29, 2016	Oct. 28, 2017	Oct. 29, 2016	Jan. 28, 2017
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 91		$ 91		$ 106
Impairments, store closing and other costs	0	$ (6)	0	$ 186
Payments for Restructuring	(10)
Restructuring Reserve, Accrual Adjustment			(5)
Contract Termination [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	90		90		103
Payments for Restructuring	(8)
Restructuring Reserve, Accrual Adjustment			(5)
Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	1		1		$ 3
Payments for Restructuring	$ (2)
Restructuring Reserve, Accrual Adjustment			$ 0