Quarterly report pursuant to Section 13 or 15(d)

Benefit Plans

Benefit Plans

6 Months Ended

Aug. 01, 2020

Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]

The Company has defined contribution plans which cover substantially all colleagues who work 1,000 hours or more in a year. In addition, the Company has a funded defined benefit plan ("Pension Plan") and an unfunded defined benefit supplementary retirement plan ("SERP"), which provides benefits, for certain colleagues, in excess of qualified plan limitations. Effective January 1, 2012, the Pension Plan was closed to new participants, with limited exceptions, and effective January 2, 2012, the SERP was closed to new participants.

In February 2013, the Company announced changes to the Pension Plan and SERP whereby eligible colleagues no longer earn future pension service credits after December 31, 2013, with limited exceptions. All retirement benefits attributable to service in subsequent periods are provided through defined contribution plans.

In addition, certain retired colleagues currently are provided with specified health care and life insurance benefits ("Postretirement Obligations"). Eligibility requirements for such benefits vary, but generally state that benefits are available to eligible colleagues who were hired prior to a certain date and retire after a certain age with specified years of service. Certain colleagues are subject to having such benefits modified or terminated.

The defined contribution plan expense and actuarially determined components of the net periodic benefit cost (income) associated with the defined benefit plans are as follows:


	13 Weeks Ended						26 Weeks Ended
	August 1, 2020		August 3, 2019		August 1, 2020		August 3, 2019
	(millions)						(millions)
401(k) Qualified Defined Contribution Plan	$	19	$	24	$	32	$	49

Non-Qualified Defined Contribution Plan	$	—	$	1	$	—	$	2

Pension Plan
Service cost	$	2	$	1	$	3	$	2
Interest cost	18		26		38		52
Expected return on assets	(46)		(48)		(92)		(96)
Recognition of net actuarial loss	10		7		20		14
Amortization of prior service credit	—		—		—		—
	$	(16)	$	(14)	$	(31)	$	(28)
Supplementary Retirement Plan
Service cost	$	—	$	—	$	—	$	—
Interest cost	4		6		8		12
Recognition of net actuarial loss	3		2		6		4
Amortization of prior service cost	—		—		—		—
	$	7	$	8	$	14	$	16

Total Retirement Expense	$	10	$	19	$	15	$	39

Postretirement Obligations
Service cost	$	—	$	—	$	—	$	—
Interest cost	1		1		2		2
Recognition of net actuarial gain	(2)		(2)		(3)		(3)
Amortization of prior service credit	—		—		—		—
	$	(1)	$	(1)	$	(1)	$	(1)