Derivative Financial Instruments (Notes)
 6 Months Ended
Aug. 01, 2015
Derivative [Line Items]  
Derivative Instruments and Hedging Activities Disclosure [Text Block]
6. Derivative Financial Instruments

Effective May 7, 2015, we entered into interest rate swap agreements with notional amounts totaling $1,250 million to fix a portion of our variable LIBOR-based interest payments. The interest rate swap agreements have a weighted-average fixed rate of 2.04%, mature on May 7, 2020 and have been designated as cash flow hedges.

The fair value of our interest rate swaps are recorded on the unaudited Interim Consolidated Balance Sheets as an asset or a liability (see Note 7). The effective portion of the interest rate swaps' changes in fair values is reported in Accumulated other comprehensive income/(loss) (see Note 8), and the ineffective portion is reported in Net income/(loss). Amounts in Accumulated other comprehensive income/(loss) are reclassified into net income/(loss) when the related interest payments affect earnings. For the periods presented, all of the interest rate swaps were 100% effective.

Information regarding the pre-tax changes in the fair value of our interest rate swaps is as follows:

 
Three Months Ended
 
Six Months Ended
 
Line Item in the Unaudited Interim Financial Statements
($ in millions)
August 1, 2015
 
August 2, 2014
 
August 1, 2015
 
August 2, 2014
 
Gain/(loss) recognized in other comprehensive income/(loss)
$
(9
)
 
$
—

 
$
(9
)
 
$
—

 
Accumulated other comprehensive income
Gain/(loss) recognized in net income/(loss)
(2
)
 
—

 
(2
)
 
—

 
Interest expense


Information regarding the gross amounts of our derivative instruments in the unaudited Interim Consolidated Balance Sheets is as follows:
 
Asset Derivatives at Fair Value
 
Liability Derivatives at Fair Value
($ in millions)
Balance Sheet Location
 
August 1, 2015
 
August 2, 2014
 
January 31, 2015
 
Balance Sheet Location
 
August 1, 2015
 
August 2, 2014
 
January 31, 2015
Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps
N/A
 
$
—

 
$
—

 
$
—

 
Other accounts payable and accrued expenses
 
$
2

 
$
—

 
$
—

Interest rate swaps
N/A
 
—

 
—

 
—

 
Other liabilities
 
9

 
—

 
—

Total derivatives designated as hedging instruments
 
 
$
—

 
$
—

 
$
—

 
 
 
$
11

 
$
—

 
$
—