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A-56
NO T E S T O C O N S O L I D A T E D F I N A N C I A L S T A T E M E N T S , CO N T I N U E D
FA I R VA L U E O F O T H E R F I N A N C I A L I N S T R U M E N T S
Current and Long-term Debt
The fair value of the Company’s long-term debt, including current maturities, was estimated based on the
quoted market prices for the same or similar issues adjusted for illiquidity based on available market evidence.
If quoted market prices were not available, the fair value was based upon the net present value of the future
cash flow using the forward interest rate yield curve in effect at respective year-ends. At February 1, 2014, the
fair value of total debt was $11,547 compared to a carrying value of $10,780. At February 2, 2013, the fair value
of total debt was $9,339 compared to a carrying value of $8,476.
Cash and Temporary Cash Investments, Store Deposits In-Transit, Receivables, Prepaid and Other
Current Assets, Trade Accounts Payable, Accrued Salaries and Wages and Other Current Liabilities
The carrying amounts of these items approximated fair value.
Other Assets
The fair values of these investments were estimated based on quoted market prices for those or similar
investments, or estimated cash flows, if appropriate. At February 1, 2014 and February 2, 2013, the carrying
and fair value of long-term investments for which fair value is determinable were $51 and $44, respectively.
9 . O T H E R C O M P R E H E N S I V E I N C O M E ( L O S S )
The following table represents the changes in AOCI by component for the year ended February 1, 2014:
Cash Flow
Hedging
Activities (1)
Available
for sale
Securities (1)
Pension and
Postretirement
Defined Benefit
Plans (1) Total (1)
Balance at February 2, 2013 . . . . . . . . . . . . . . . . . . $ (14) $ 7 $(746) $(753)
OCI before reclassifications (2) . . . . . . . . . . . . . . . (12) 5 197 190
Amounts reclassified out of AOCI . . . . . . . . . . . . . 1 — 98 99
Net current-period OCI . . . . . . . . . . . . . . . . . . . . . . (11) 5 295 289
Balance at February 1, 2014 . . . . . . . . . . . . . . . . . . $ (25) $12 $(451) $(464)
(1) All amounts are net of tax.
(2) Net of tax of $(8), $3 and $116 for cash flow hedging activities, available for sale securities and pension
and postretirement defined benefit plans, respectively.
The following table represents the items reclassified out of AOCI and the related tax effects for the year
ended February 1, 2014:
February 1, 2014
Gains on cash flow hedging activities
Amortization of unrealized gains and losses on cash flow hedging activities (1) . . . . . . . $ 2
Tax expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1)
Net of tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Pension and postretirement defined benefit plan items
Amortization of amounts included in net periodic pension expense (2). . . . . . . . . . . . . . 155
Tax expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (57)
Net of tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 98
Total reclassifications, net of tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 99
(1) Reclassified from AOCI into interest expense.