Annual report pursuant to Section 13 and 15(d)

Properties and Leases (Tables)

Properties and Leases (Tables)

12 Months Ended

Jan. 28, 2012

Property Plant and Equipment and Leases of Lessee [Abstract]



	January 28, 2012		January 29, 2011
	(millions)
Land	$	1,689	$	1,702
Buildings on owned land	5,234		5,148
Buildings on leased land and leasehold improvements	2,165		2,227
Fixtures and equipment	5,275		5,752
Leased properties under capitalized leases	43		33
	14,406		14,862
Less accumulated depreciation and amortization	5,986		6,049
	$	8,420	$	8,813

Minimum Rental Commitments (Excluding Executory Costs) for Noncancellable Leases

Minimum rental commitments (excluding executory costs) at January 28, 2012, for noncancellable leases are:



	Capitalized Leases		Operating Leases		Total
	(millions)
Fiscal year:
2012	$	6	$	255	$	261
2013	5		244		249
2014	5		224		229
2015	3		187		190
2016	3		168		171
After 2015	52		1,689		1,741
Total minimum lease payments	74		$	2,767	$	2,841
Less amount representing interest	35
Present value of net minimum capitalized lease payments	$	39

Rental Expense

Rental expense consists of:



	2011			2010			2009
	(millions)
Real estate (excluding executory costs)
Capitalized leases –
Contingent rentals	$	—		$	—		$	—
Operating leases –
Minimum rentals	242			234			230
Contingent rentals	19			16			15
	261			250			245
Less income from subleases –
Operating leases	(18		)	(15		)	(16		)
	$	243		$	235		$	229
Personal property – Operating leases	$	10		$	10		$	12

- Definition

Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

+ References + Details