Quarterly report pursuant to Section 13 or 15(d)

Real Estate and Other, Net

v3.5.0.2
Real Estate and Other, Net
6 Months Ended
Jul. 30, 2016
Real Estate and Other, Net [Abstract]  
Real Estate and Other, Net
Real Estate and Other, Net
Real estate and other consists of ongoing operating income from our real estate subsidiaries. Real estate and other also includes net gains from the sale of facilities and equipment that are no longer used in operations, asset impairments, accruals for certain litigation and other non-operating charges and credits. In addition, during the first quarter of 2014, we entered into a joint venture in which we contributed approximately 220 acres of excess property adjacent to our home office facility in Plano, Texas (Home Office Land Joint Venture). The joint venture was formed to develop the contributed property and our proportional share of the joint venture's activities is recorded in Real estate and other, net.











The composition of Real estate and other, net was as follows:  
 
Three Months Ended
 
Six Months Ended
($ in millions)
July 30,
2016
 
August 1,
2015
 
July 30,
2016
 
August 1,
2015
Net gain from sale of non-operating assets
$

 
$
(6
)
 
$
(5
)
 
$
(8
)
Investment income from Home Office Land Joint Venture
(5
)
 

 
(29
)
 
(22
)
Net gain from sale of operating assets
(2
)
 

 
(10
)
 
(8
)
Other
(2
)
 
25

 
(3
)
 
22

Total expense/(income)
$
(9
)
 
$
19

 
$
(47
)
 
$
(16
)


Investment Income from Joint Ventures
During the second quarter and first six months of 2016, the Company had $5 million and $29 million, respectively, in income related to its proportional share of the net income in the Home Office Land Joint Venture and received an aggregate cash distribution of $6 million and $44 million, respectively. During the second quarter of 2015, no investment income was generated from the Home Office Land Joint Venture. During the first half of 2015, the Company had $22 million in income related to its proportional share of the net income in the Home Office Land Joint Venture and received an aggregate cash distribution of $22 million.