Quarterly report pursuant to Section 13 or 15(d)

Retirement Benefit Plans

v3.7.0.1
Retirement Benefit Plans
6 Months Ended
Jul. 29, 2017
Retirement Benefit Plans [Abstract]  
Retirement Benefit Plans
Retirement Benefit Plans
The components of net periodic benefit expense/(income) for our non-contributory qualified defined benefit pension plan (Primary Pension Plan) and non-contributory supplemental pension plans were as follows:
 
Three Months Ended
 
Six Months Ended
($ in millions)
July 29,
2017
 
July 30,
2016
 
July 29,
2017
 
July 30,
2016
Primary Pension Plan
 
 
 
 
 
 
 
Service cost
$
10

 
$
14

 
$
21

 
$
28

Interest cost
36

 
38

 
73

 
76

Expected return on plan assets
(53
)
 
(54
)
 
(107
)
 
(108
)
Amortization of prior service cost/(credit)
2

 
2

 
4

 
4

Net periodic benefit expense/(income)
$
(5
)
 
$

 
$
(9
)
 
$

 
 
 
 
 
 
 
 
Supplemental Pension Plans
 
 
 
 
 
 
 
Service cost
$

 
$

 
$

 
$

Interest cost
1

 
2

 
3

 
4

Net periodic benefit expense/(income)
$
1

 
$
2

 
$
3

 
$
4

 
 
 
 
 
 
 
 
Primary and Supplemental Pension Plans Total
 
 
 
 
 
 
 
Service cost
$
10

 
$
14

 
$
21

 
$
28

Interest cost
37

 
40

 
76

 
80

Expected return on plan assets
(53
)
 
(54
)
 
(107
)
 
(108
)
Amortization of prior service cost/(credit)
2

 
2

 
4

 
4

Net periodic benefit expense/(income)
$
(4
)
 
$
2

 
$
(6
)
 
$
4


Additionally, the Company had net periodic postretirement income of $4 million and $8 million, respectively, in the three and six months ended July 30, 2016 related to the Company's noncontributory postretirement medical and dental plan which was included in SG&A expense in the unaudited Interim Consolidated Statements of Operations. The postretirement medical and dental plan was terminated effective December 31, 2016.