Annual report pursuant to Section 13 and 15(d)

Long-Term Debt (Tables)

v3.3.1.900
Long-Term Debt (Tables)
12 Months Ended
Jan. 30, 2016
Debt Disclosure [Abstract]  
Schedule of Debt
($ in millions)
 
2015
 
2014
Issue:
 
 
 
 
5.65% Senior Notes Due 2020(1) (2)
 
$
400

 
$
400

5.75% Senior Notes Due 2018(1) (3)
 
300

 
300

6.375% Senior Notes Due 2036(1) (4)
 
400

 
400

6.9% Notes Due 2026
 
2

 
2

7.125% Debentures Due 2023
 
10

 
10

7.4% Debentures Due 2037(5)
 
326

 
326

7.625% Notes Due 2097
 
500

 
500

7.65% Debentures Due 2016
 
78

 
78

7.95% Debentures Due 2017
 
220

 
220

8.125% Senior Notes Due 2019 (6)
 
400

 
400

2013 Term Loan Facility (7)
 
2,194

 
2,216

2014 Term Loan (8)
 

 
498

Total debt, excluding unamortized debt issuance costs, capital leases and note payable
 
4,830

 
5,350

Unamortized debt issuance costs
 
(61
)
 
(95
)
Total debt, excluding capital leases and note payable
 
4,769

 
5,255

Less: current maturities
 
101

 
28

Total long-term debt, excluding capital leases and note payable
 
$
4,668

 
$
5,227

Weighted-average interest rate at year end
 
6.5
%
 
6.4
%
Weighted-average maturity (in years)
 
13 years

 
 
 
(1)
These debt issuances contain a change of control provision that would obligate us, at the holders’ option, to repurchase the debt at a price of 101%. These provisions trigger if there were a beneficial ownership change of 50% or more of our common stock.
(2)
$4 million and $5 million of unamortized debt issue costs in 2015 and 2014, respectively.
(3)
$1 million and $1 million of unamortized debt issue costs in 2015 and 2014, respectively.
(4)
$6 million and $7 million of unamortized debt issue costs in 2015 and 2014, respectively.
(5)
$1 million and $1 million of unamortized debt issue costs in 2015 and 2014, respectively.
(6)
$8 million and $10 million of unamortized debt issue costs in 2015 and 2014, respectively.
(7)
$41 million and $58 million of unamortized debt issue costs in 2015 and 2014, respectively.
(8)
$13 million of unamortized debt issue costs in 2014.
Schedule of Extinguishment of Debt [Table Text Block]
Title of Security
 
Principal Amount Outstanding Prior to 2014 Tender Offers ($ in millions)
 
Tender Premium(1)
 
Principal Amount Tendered ($ in millions)
 
Principal Amount Accepted for Purchase ($ in millions)
 
Principal Amount Outstanding After the 2014 Tender Offers ($ in millions)
6.875% Medium-Term Notes due 2015
 
$
200

 
$
67.50

 
$
140

 
$
140

 
$
60

7.65% Debentures due 2016
 
200

 
105.00

 
122

 
122

 
78

7.95% Debentures due 2017
 
285

 
97.50

 
194

 
65

 
220

Total
 
$
685

 
 
 
$
456

 
$
327

 
$
358

(1)
Per $1,000 principal amount of Securities.
Schedule of Maturities of Long-term Debt
($ in millions)
 
2016
$
101

2017
243

2018
2,449

2019
400

2020
400

Thereafter
1,237

Total
$
4,830