Properties and Leases (Tables)
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12 Months Ended |
Jan. 30, 2021 |
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| Property Plant And Equipment And Leases Of Lessee [Abstract] |
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| Property, Plant and Equipment |
The major classes of property and equipment, net as of January 30, 2021 and February 1, 2020 are as follows:
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January 30,
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February 1,
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2021
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2020
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(millions)
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Land
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$
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1,390
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$
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1,436
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Buildings on owned land
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3,650
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3,822
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Buildings on leased land and leasehold improvements
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1,268
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1,365
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Fixtures and equipment
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4,032
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4,402
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10,340
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11,025
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Less accumulated depreciation and amortization
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4,400
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4,392
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$
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5,940
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$
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6,633
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| Lessee Lease [Table Text Block] |
ROU assets and lease liabilities consist of:
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January 30,
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February 1,
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2021
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2020
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Classification
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(millions)
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Assets
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Finance lease assets (a)
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Right of Use Assets
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$
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12
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$
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13
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Operating lease assets (b)
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Right of Use Assets
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2,866
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2,655
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Total lease assets
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$
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2,878
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$
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2,668
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Liabilities
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Current
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Finance (a)
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Accounts payable and accrued liabilities
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$
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2
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$
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2
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Operating (b)
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Accounts payable and accrued liabilities
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198
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331
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Noncurrent
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Finance (a)
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Long-Term Lease Liabilities
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19
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21
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Operating (b)
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Long-Term Lease Liabilities
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3,166
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2,897
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Total lease liabilities
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$
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3,385
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$
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3,251
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(a)
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Finance lease assets are recorded net of accumulated amortization of $13 million and $12 million as of January 30, 2021 and February 1, 2020, respectively. As of January 30, 2021 and February 1, 2020, finance lease assets and noncurrent lease liabilities each included $2 million of non-lease components.
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(b)
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As of January 30, 2021, operating lease assets included $383 million of non-lease components and current and noncurrent lease liabilities included $35 million and $384 million, respectively, of non-lease components. As of February 1, 2020, operating lease assets included $403 million of non-lease components and current and noncurrent lease liabilities included $36 million and $397 million, respectively, of non-lease components.
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| Lease, Cost [Table Text Block] |
The components of net lease expense, recognized primarily within selling, general and administrative expenses are disclosed below. For 2020 and 2019, lease expense included $87 million and $83 million, respectively, related to non-leasecomponents.
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2020
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2019
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2018
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(millions)
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Real estate
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Operating leases (c) –
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Minimum rents
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$
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376
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$
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364
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$
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317
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Variable rents
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45
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54
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11
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421
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418
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328
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Less income from subleases –
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Operating leases
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(1
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)
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(2
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)
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(1
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)
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$
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420
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$
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416
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$
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327
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Personal property – Operating leases
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$
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7
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$
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8
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$
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9
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(c)
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Certain supply chain operating lease expense amounts are included in cost of sales.
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| Lessee, Finance Lease, Liability, Maturity [Table Text Block] |
As of January 30, 2021, the maturity of lease liabilities is as follows:
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Operating
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Finance
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Leases
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Leases
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(d and e)
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Total
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(millions)
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Fiscal year
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2021
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$
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3
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$
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239
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$
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242
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2022
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3
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350
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353
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2023
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3
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344
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347
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2024
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3
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334
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337
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2025
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3
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329
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332
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After 2025
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16
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5,443
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5,459
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Total undiscounted lease payments
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31
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7,039
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7,070
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Less amount representing interest
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10
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3,675
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3,685
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Total lease liabilities
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$
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21
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$
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3,364
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$
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3,385
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(d)
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Operating lease payments include $3,063 million related to options to extend lease terms that are reasonably certain of being exercised and exclude $2 million of legally binding minimum lease payments for leases signed but not yet commenced.
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(e)
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Operating lease payments include $1,151 million related to non-lease component payments, with $840 million of such payments related to options to extend lease terms that are reasonably certain of being exercised.
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| Lessee, Operating Lease, Liability, Maturity [Table Text Block] |
As of January 30, 2021, the maturity of lease liabilities is as follows:
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Operating
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Finance
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Leases
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Leases
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(d and e)
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Total
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(millions)
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Fiscal year
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2021
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$
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3
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$
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239
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$
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242
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2022
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3
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350
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353
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2023
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3
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344
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347
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2024
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3
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334
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337
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2025
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3
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329
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332
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After 2025
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16
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5,443
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5,459
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Total undiscounted lease payments
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31
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7,039
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7,070
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Less amount representing interest
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10
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3,675
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3,685
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Total lease liabilities
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$
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21
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$
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3,364
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$
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3,385
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(d)
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Operating lease payments include $3,063 million related to options to extend lease terms that are reasonably certain of being exercised and exclude $2 million of legally binding minimum lease payments for leases signed but not yet commenced.
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(e)
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Operating lease payments include $1,151 million related to non-lease component payments, with $840 million of such payments related to options to extend lease terms that are reasonably certain of being exercised.
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| Schedule of Supplemental Information for Lease Assumptions and Cash Flows [Table Text Block] |
Additional supplemental information regarding assumptions and cash flows for operating and finance leases is as follows:
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January 30,
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February 1,
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Lease Term and Discount Rate
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2021
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2020
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Weighted-average remaining lease term (years)
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Finance leases
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12.1
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12.7
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Operating leases
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22.4
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23.3
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Weighted-average discount rate
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Finance leases
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6.70
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%
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6.69
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%
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Operating leases
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6.32
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%
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6.53
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%
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52 Weeks Ended
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52 Weeks Ended
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Other Information
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January 30, 2021
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February 1, 2020
|
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(millions)
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Cash paid for amounts included in the measurement of lease liabilities:
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Operating cash flows used from operating leases
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$
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521
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$
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363
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Financing cash flows used from financing leases
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4
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2
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Leased assets obtained in exchange for new operating lease liabilities
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430
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216
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