Annual report pursuant to Section 13 and 15(d)

Financing (Tables)

v3.19.1
Financing (Tables)
12 Months Ended
Feb. 02, 2019
Debt Disclosure [Abstract]  
Schedule of Company Debt
The Company’s debt is as follows:
 
 
February 2,
2019
 
February 3,
2018
 
(millions)
Short-term debt:
 
 
 
8.5% Senior debentures due 2019
$
36

 
$

Capital lease and current portion of other long-term obligations
7

 
22

 
$
43

 
$
22

Long-term debt:
 
 
 
2.875% Senior notes due 2023
$
750

 
$
750

3.875% Senior notes due 2022
550

 
550

4.5% Senior notes due 2034
367

 
550

3.45% Senior notes due 2021
500

 
500

3.625% Senior notes due 2024
500

 
500

4.375% Senior notes due 2023
400

 
400

5.125% Senior debentures due 2042
250

 
250

4.3% Senior notes due 2043
250

 
250

6.7% Senior debentures due 2034
201

 
264

6.9% Senior debentures due 2029
192

 
397

6.375% Senior notes due 2037
192

 
269

6.65% Senior debentures due 2024
122

 
296

7.0% Senior debentures due 2028
117

 
298

6.7% Senior debentures due 2028
103

 
197

6.79% Senior debentures due 2027
71

 
165

6.9% Senior debentures due 2032
17

 
31

8.5% Senior debentures due 2019

 
36

10.25% Senior debentures due 2021
33

 
33

7.6% Senior debentures due 2025
24

 
24

8.75% Senior debentures due 2029
13

 
18

7.875% Senior debentures due 2030
10

 
12

9.5% amortizing debentures due 2021
6

 
10

9.75% amortizing debentures due 2021
3

 
6

Unamortized debt issue costs
(18
)
 
(25
)
Unamortized debt discount
(9
)
 
(13
)
Premium on acquired debt, using an effective
interest yield of 5.542% to 7.144%
39

 
67

Capital lease and other long-term obligations
25

 
26

 
$
4,708

 
$
5,861

Schedule of Interest Expense and Losses (Gains) on Early Retirement of Debt
Interest expense and losses (gains) on early retirement of debt are as follows:
 
 
2018
 
2017
 
2016
 
(millions)
Interest on debt
$
269

 
$
332

 
$
392

Amortization of debt premium
(7
)
 
(9
)
 
(22
)
Amortization of financing costs and debt discount
7

 
7

 
5

Interest on capitalized leases
2

 
2

 
2

 
271

 
332

 
377

Less interest capitalized on construction
10

 
11

 
10

Interest expense
$
261

 
$
321

 
$
367

Losses (gains) on early retirement of debt
$
33

 
$
(10
)
 
$

Future Maturities of Long-term Debt
Future maturities of long-term debt, other than capitalized leases, are shown below:
 
 
(millions)
Fiscal year
 
2020
$
539

2021
553

2022

2023
1,150

2024
622

After 2024
1,807

Detail of Debt Repayments
The following table shows the detail of debt repayments:
 
2018
 
2017
 
2016
 
(millions)
6.9% Senior debentures due 2029
$
204

 
$
3

 
$

4.5% Senior notes due 2034
183

 

 

7.0% Senior debentures due 2028
182

 
2

 

6.65% Senior debentures due 2024
175

 
4

 

7.45% Senior debentures due 2017

 
300

 

6.7% Senior debentures due 2028
94

 
3

 

6.79% Senior debentures due 2027
94

 

 

6.375% Senior notes due 2037
77

 
231

 

6.7% Senior debentures due 2034
63

 
136

 

6.9% Senior debentures due 2032
15

 
219

 

8.75% Senior debentures due 2029
5

 
43

 

7.875% Senior debentures due 2030
2

 
6

 

5.9% Senior notes due 2016

 

 
577

7.875% Senior notes due 2036

 

 
108

7.45% Senior debentures due 2016

 

 
59

9.5% amortizing debentures due 2021
4

 
4

 
4

9.75% amortizing debentures due 2021
2

 
2

 
2

Capital leases and other obligations
1

 
1

 
1

 
$
1,101

 
$
954

 
$
751