Annual report pursuant to Section 13 and 15(d)

Retirement Benefit Plans (Tables)

v2.4.0.6
Retirement Benefit Plans (Tables)
12 Months Ended
Jan. 28, 2012
Jan. 29, 2011
Schedule of Defined Contribution Plan Expense [Text Block]

($ in millions)

2011

 

2010

 

2009

 

Savings Plan – 401(k)

$          52

$          41

$          55

Savings Plan – retirement account

             11

            12

              8

Mirror Savings Plan

               4

              3

              2

 

 

 

 

Total

$          67

$          56

$          65

 

 

 

 

 
Pension Plans, Defined Benefit [Member]
   
Schedule of Pension Plan Expense/(Income)

 

 

 

 

 

 

 

 

 

 

 

 

 

2011

 

 

2010

 

 

2009

 

($ in millions)

Primary
Plan

 

Supp.
Plans

 

Total

 

 

Primary
Plan

 

Supp.
Plans

 

Total

 

 

Primary
Plan

 

Supp.
Plans

 

Total

 

Service cost

$         88

$            2

$          90

 

$         88

$            1

$          89

 

$         80

$            3

$          83

Interest cost

         247

            13

          260

 

         248

            14

          262

 

         253

            17

          270

Projected return on assets

      (385)

                -

       (385)

 

      (352)

                -

         (352 )

 

        (304 )

                -

         (304 )

Amortization of actuarial loss

         137

            19

          156

 

         237

            19

          256

 

         269

            19

          288

 

 

 

 

 

 

 

 

 

 

 

 

Net periodic pension plan expense

$         87

$          34

$        121

 

$       221

$          34

$        255

 

$       298

$          39

$        337

 

 

 

 

 

 

 

 

 

 

 

 

 
Schedule of Changes in Projected Benefit Obligations [Table Text Block]
 
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]
 
Schedule of Allocation of Plan Assets [Table Text Block]

 

 

 

 

 

($ in millions)

Investments at Fair Value at Year-End 2011

1

 

Level 1(1)

 

Level 2(1)

 

Level 3

 

Total

 

Cash

$                  6

$                   -

$                   -

$                  6

Common collective trusts

                     -

                  42

                     -

                  42

 

 

 

 

 

     Cash and cash equivalents total

                    6

                  42

                     -

                  48

 

 

 

 

 

Common collective trusts – domestic

                     -

               341

                     -

               341

Common collective trusts – international

                     -

               400

                     -

               400

Equity securities – domestic

            1,379

                     -

                     -

            1,379

Equity securities – international

               335

                  14

                     -

               349

Private equity

                     -

                     -

               299

               299

 

 

 

 

 

     Equity securities total

            1,714

               755

               299

            2,768

 

 

 

 

 

Common collective trusts

                     -

            1,070

                     -

            1,070

Corporate bonds

                     -

               720

                  36

               756

Municipal bonds

                     -

                  80

                     -

                  80

Government securities

                     -

                    8

                     -

                    8

Mortgage backed securities

                     -

                  42

                     -

                  42

 

 

 

 

 

     Fixed income total

                     -

            1,920

                  36

            1,956

 

 

 

 

 

Real estate

               106

                  44

               255

               405

 

 

 

 

 

     Real estate total

               106

                  44

               255

               405

 

 

 

 

 

     Total investment assets at fair value

$          1,826

$          2,761

$             590

$          5,177

 

 

 

 

 

Accounts payable, net

 

 

 

                 (1)

 

 

 

 

 

     Total

 

 

 

$          5,176

 

 

 

 

 

($ in millions)

Investments at Fair Value at Year-End 2010

 

 

Level 1(1)

 

Level 2(1)

 

Level 3

 

Total

 

Cash

$                  4

$                   -

$                   -

$                  4

Common collective trusts

                     -

                  70

                     -

                  70

 

 

 

 

 

     Cash and cash equivalents total

                    4

                  70

                     -

                  74

 

 

 

 

 

Common collective trusts - domestic

                     -

               117

                     -

               117

Common collective trusts – international

                     -

               465

                     -

               465

Equity securities - domestic

            2,261

                    3

                     -

            2,264

Equity securities – international

               407

                    1

                     -

               408

Private equity

                     -

                     -

               291

               291

 

 

 

 

 

     Equity securities total

            2,668

               586

               291

            3,545

 

 

 

 

 

Common collective trusts

                     -

               649

                     -

               649

Corporate bonds

                     -

               476

                    4

               480

Municipal bonds

                     -

                  23

                     -

                  23

Government securities

                     -

                  13

                     -

                  13

Mortgage backed securities

                     -

                  10

                     -

                  10

Other fixed income

                     -

                  11

                     -

                  11

 

 

 

 

 

     Fixed income total

                     -

            1,182

                    4

            1,186

 

 

 

 

 

Real estate

               163

                  38

               251

               452

 

 

 

 

 

     Real estate total

               163

                  38

               251

               452

 

 

 

 

 

     Total investment assets at fair value

$          2,835

$          1,876

$             546

$          5,257

 

 

 

 

 

Accounts payable, net

 

 

 

                 (6)

 

 

 

 

 

     Total

 

 

 

$          5,251

 

 

 

 

 

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block]

 

 

 

 

Level 3 Investment Assets

Year-End 2011

 

 

($ in millions)

Private Equity

Funds

 

Real Estate

 

Corporate

Bonds

 

Balance, beginning of year

$             291

$             251

$                  4

Transfers, net

                     -

                     -

                  11

Realized gains

                  33

                  10

                     -

Unrealized (losses)/gains

                (17)

                  24

                 (1)

Purchases and issuances

                  53

                  12

                  33

Sales, maturities and settlements

                (61)

                (42)

                (11)

 

 

 

 

Balance, end of year

$             299

$             255

$               36

 

 

 

 

 

 

 

 

Level 3 Investment Assets

Year-End 2010

 

 

($ in millions)

Private Equity

Funds

 

Real Estate

 

Corporate

 Bonds

 

Balance, beginning of year

$             252

$             231

$                   -

Realized gains

                  21

                  15

                    4

Unrealized (losses)/gains

                  19

                (31)

                     -

Purchases and issuances

                  46

                  61

                     -

Sales, maturities and settlements

                (47)

                (25)

                     -

 

 

 

 

Balance, end of year

$             291

$             251

$                  4

 

 

 

 

Schedule of Expected Benefit Payments [Table Text Block]

 

 

 

($ in millions)

Primary
Plan Benefits

 

Supplemental
Plan Benefits

 

2012

$                284

$                  46

2013

                  302

                    45

2014

                  302

                    42

2015

                  307

                    40

2016

                  312

                    34

2017-2021

               1,662

                    82

 
Schedule of Target Allocation Ranges for Defined Benefit Plan Assets [Text Block]

 

 

 

 

 

 

 

Plan Assets

 

 

 

2011 Target
Allocation Ranges

 


2011

 


2010

 

 

Asset Class

 

Equity

45% - 60% 

            53%

            68%

 

Fixed income

35% - 45%  

            38%

            22%

 

Real estate, cash and other

5% - 15%

              9%

            10%

 

 

 

 

 

 

Total

 

          100%

          100%

 

 

 

 

 

 

 
Weighted-Average Actuarial Assumptions Used To Determine Expense [Member]
   
Schedule of Assumptions Used [Table Text Block]
 
Weighted Average Actuarial Assumptions Used To Determine Liability [Member]
   
Schedule of Assumptions Used [Table Text Block]
 
Other Postretirement Benefit Plans, Defined Benefit [Member]
   
Schedule of Pension Plan Expense/(Income)

 

 

 

 

($ in millions)

2011

 

2010

 

2009

 

Service cost

$                                 -

$                                 -

$                                 -

Interest cost

                                  1

                                  1

                                  1

Amortization of prior service (credit)

                             (26)

                              (26 )

                              (26 )

 

 

 

 

Net periodic postretirement benefit (income)

$                           (25)

$                            (25)

$                            (25 )

 

 

 

 

 
Schedule of Changes in Projected Benefit Obligations [Table Text Block]
 
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]
 
Schedule of Expected Benefit Payments [Table Text Block]

 

 

($ in millions)

Other
Postretirement
Benefits

 

2012

$            4

2013

              3

2014

              3

2015

              3

2016

              3

2017-2021

            10