Retirement Benefit Plans (Net Periodic Expense) (Details)
$ in Thousands |
3 Months Ended |
12 Months Ended |
|
Apr. 29, 2017
USD ($)
employee
|
Feb. 01, 2020
USD ($)
|
Feb. 02, 2019
USD ($)
|
Feb. 03, 2018
USD ($)
|
| Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] |
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|
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| Discount rate |
|
3.08%
|
4.33%
|
3.98%
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| Defined benefit plan, description of plan amendment |
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In 2017, the Company initiated a Voluntary Early Retirement Program (VERP) for approximately 6,000 eligible associates. Eligibility for the VERP included home office, stores and supply chain personnel who met certain criteria related to age and years of service as of January 31, 2017. The consideration period for eligible associates to accept the VERP ended on March 31, 2017. Based on the approximately 2,800 associates who elected to accept the VERP, we incurred a total charge of $112 million for special retirement benefits. The special retirement benefits increased the projected benefit obligation (PBO) of the Primary Pension Plan and the Supplemental Pension Plans by $88 million and $24 million, respectively. In addition, we incurred curtailment charges of $7 million related to our Primary Pension Plan and Supplemental Pension Plans as a result of the reduction in the expected years of future service related to these plans. We also recognized settlement expense of $13 million in 2017 due to higher lump-sum payment activity to retirees primarily as a result of the VERP executed earlier in the year.
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| Funded status of plan percentage, description |
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As of the end of 2019, the funded status of the Primary Pension Plan was 104%. The Primary Benefit Obligation (PBO) is the present value of benefits earned to date by plan participants, including the effect of assumed future salary increases. Under the Employee Retirement Income Security Act of 1974 (ERISA), the funded status of the plan exceeded 100% as of December 31, 2019 and 2018, the qualified pension plan’s year end.
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| Net Periodic Benefit Expense/(Income) [Abstract] |
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|
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| Curtailment (gain)/loss recognized |
$ (7,000)
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|
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| Special termination benefit recognized |
$ (112,000)
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|
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| Other components of net periodic pension and postretirement benefit cost/(income) |
|
$ (35,000)
|
$ (71,000)
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$ 98,000
|
| Number of employees eligible for VERP | employee |
6,000
|
|
|
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| Number of employees accepted VERP | employee |
2,800
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| Primary Pension Plan and Benefit Restoration Plan [Member] |
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| Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] |
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| Employee retirement age |
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65 years
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| Supplemental Employee Retirement Plan [Member] |
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| Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] |
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| Defined Benefit Plan, Plan Assets, Amount |
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$ 0
|
0
|
0
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| Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months |
|
27,000
|
|
|
| Defined Benefit Plan, Expected Future Benefit Payment, Five Fiscal Years Thereafter |
|
38,000
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|
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| Settlements |
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$ 0
|
0
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| Employee retirement age |
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60 years
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|
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| Termination of company-paid term life insurance, employee age |
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70 years
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| Termination of employee-paid term life insurance, employee age |
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65 years
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| Balance at measurement date |
|
$ 136,000
|
146,000
|
182,000
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| Net Periodic Benefit Expense/(Income) [Abstract] |
|
|
|
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| Service cost |
|
0
|
1,000
|
|
| Interest cost |
|
6,000
|
8,000
|
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| Defined benefit plan increase (decrease) due to enhanced retirement benefits |
$ 24,000
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|
|
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| Pension Plan [Member] |
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| Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] |
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| Defined Benefit Plan, Plan Assets, Amount |
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3,467,000
|
3,163,000
|
3,528,000
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| Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months |
|
237,000
|
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| Defined Benefit Plan, Expected Future Benefit Payment, Five Fiscal Years Thereafter |
|
1,067,000
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| Settlements |
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153,000
|
174,000
|
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| Balance at measurement date |
|
3,347,000
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3,016,000
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3,467,000
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| Net Periodic Benefit Expense/(Income) [Abstract] |
|
|
|
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| Service cost |
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28,000
|
37,000
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| Interest cost |
|
125,000
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133,000
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| Settlement expense |
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|
13,000
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| Defined benefit plan increase (decrease) due to enhanced retirement benefits |
$ 88,000
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| Primary and Supplemental Pension Plans Total [Member] |
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|
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| Net Periodic Benefit Expense/(Income) [Abstract] |
|
|
|
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| Service cost |
|
28,000
|
38,000
|
42,000
|
| Interest cost |
|
131,000
|
141,000
|
150,000
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| Expected return on plan assets |
|
(191,000)
|
(223,000)
|
(216,000)
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| Amortization of actuarial loss/(gain) |
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10,000
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(3,000)
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25,000
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| Amortization of prior service cost/(credit) |
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(7,000)
|
(7,000)
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(7,000)
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| Settlement expense |
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8,000
|
7,000
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13,000
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| Curtailment (gain)/loss recognized |
|
0
|
0
|
7,000
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| Special termination benefit recognized |
|
0
|
0
|
112,000
|
| Other components of net periodic pension and postretirement benefit cost/(income) |
|
(35,000)
|
(71,000)
|
98,000
|
| Net periodic benefit expense/(income) |
|
$ (7,000)
|
$ (33,000)
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$ 140,000
|
| Social Security Benefits [Member] |
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| Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] |
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| Employee retirement age |
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62 years
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| Minimum [Member] | Supplemental Employee Retirement Plan [Member] |
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| Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] |
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| Employee retirement age for equal social security benefits |
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60 years
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| Maximum [Member] | Supplemental Employee Retirement Plan [Member] |
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| Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] |
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| Employee retirement age for equal social security benefits |
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62 years
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