Document And Entity Information - USD ($) $ in Billions	12 Months Ended
Document And Entity Information - USD ($) $ in Billions	Jan. 28, 2017	Mar. 07, 2017	Jul. 29, 2016
Document And Entity Information [Abstract]
Document Type	10-K
Document Period End Date	Jan. 28, 2017
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--01-28
Document Fiscal Year Focus	2016
Amendment Flag	false
Entity Registrant Name	Nordstrom Inc.
Entity Central Index Key	0000072333
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Well-known Seasoned Issuer	Yes
Entity Common Stock, Shares Outstanding		166,851,252
Entity Public Float			$ 6.1

Consolidated Statements Of Earnings - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Jan. 28, 2017	Jan. 30, 2016	Jan. 31, 2015
Income Statement [Abstract]
Net sales	$ 14,498	$ 14,095	$ 13,110
Credit card revenues, net	259	342	396
Total revenues	14,757	14,437	13,506
Cost of sales and related buying and occupancy costs	(9,440)	(9,168)	(8,406)
Selling, general and administrative expenses	(4,315)	(4,168)	(3,777)
Goodwill impairment	(197)	0	0
Earnings before interest and income taxes	805	1,101	1,323
Interest expense, net	(121)	(125)	(138)
Earnings before income taxes	684	976	1,185
Income tax expense	(330)	(376)	(465)
Net earnings	$ 354	$ 600	$ 720
Earnings per share:
Basic (in dollars per share)	$ 2.05	$ 3.22	$ 3.79
Diluted (in dollars per share)	$ 2.02	$ 3.15	$ 3.72
Weighted-average shares outstanding:
Basic (in shares)	173.2	186.3	190.0
Diluted (in shares)	175.6	190.1	193.6

Consolidated Statements of Comprehensive Earnings - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2017	Jan. 30, 2016	Jan. 31, 2015
Statement of Comprehensive Income [Abstract]
Net earnings	$ 354	$ 600	$ 720
Postretirement plan adjustments, net of tax of ($1), ($15) and $7	1	24	(11)
Foreign currency translation adjustment	14	(18)	(14)
Comprehensive net earnings	$ 369	$ 606	$ 695

Consolidated Balance Sheets - USD ($) $ in Millions	Jan. 28, 2017	Jan. 30, 2016
Assets
Cash and cash equivalents	$ 1,007	$ 595
Accounts receivable, net	199	196
Merchandise inventories	1,896	1,945
Prepaid expenses and other	140	278
Total current assets	3,242	3,014
Land, property and equipment, net	3,897	3,735
Goodwill	238	435
Other assets	481	514
Total assets	7,858	7,698
Liabilities and Shareholders’ Equity
Accounts payable	1,340	1,324
Accrued salaries, wages and related benefits	455	416
Other current liabilities	1,223	1,161
Current portion of long-term debt	11	10
Total current liabilities	3,029	2,911
Long-term debt, net	2,763	2,795
Deferred property incentives, net	521	540
Other liabilities	675	581
Commitments and contingencies (Note 10)
Shareholders’ equity:
Common stock, no par value: 1,000 shares authorized; 170.0 and 173.5 shares issued and outstanding	2,707	2,539
Accumulated deficit	(1,794)	(1,610)
Accumulated other comprehensive loss	(43)	(58)
Total shareholders’ equity	870	871
Total liabilities and shareholders’ equity	$ 7,858	$ 7,698

Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Millions	Jan. 28, 2017	Jan. 30, 2016
Shareholders’ equity
Common stock, no par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized	1,000.0	1,000.0
Common stock, shares issued	170.0	173.5
Common stock, shares outstanding	170.0	173.5

Consolidated Statements of Shareholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Loss
Balance at Feb. 01, 2014	$ 2,080	$ 1,827	$ 292	$ (39)
Balance (in shares) at Feb. 01, 2014		191.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	720		720
Other comprehensive earnings (loss)	(25)			(25)
Dividends	(251)		(251)
Issuance of common stock for Trunk Club acquisition	280	$ 280
Issuance of common stock for Trunk Club acquisition (in shares)		3.7
Issuance of common stock under stock compensation plans	161	$ 161
Issuance of common stock under stock compensation plans (in shares)		3.6
Stock-based compensation	70	$ 70
Stock-based compensation (in shares)		0.5
Repurchase of common stock	$ (595)		(595)
Repurchase of common stock (in shares)	(8.9)	(8.9)
Balance at Jan. 31, 2015	$ 2,440	$ 2,338	166	(64)
Balance (in shares) at Jan. 31, 2015		190.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	600		600
Other comprehensive earnings (loss)	6			6
Dividends \| Recurring Dividend [Member]	(280)		(280)
Dividends \| Special Dividend related to the sale of credit card receivables [Member]	(905)		(905)
Issuance of common stock for Trunk Club acquisition	23	$ 23
Issuance of common stock for Trunk Club acquisition (in shares)		0.3
Issuance of common stock under stock compensation plans	108	$ 108
Issuance of common stock under stock compensation plans (in shares)		2.0
Stock-based compensation	70	$ 70
Stock-based compensation (in shares)		0.2
Repurchase of common stock	$ (1,191)		(1,191)
Repurchase of common stock (in shares)	(19.1)	(19.1)
Balance at Jan. 30, 2016	$ 871	$ 2,539	(1,610)	(58)
Balance (in shares) at Jan. 30, 2016	173.5	173.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	$ 354		354
Other comprehensive earnings (loss)	15			15
Dividends	(256)		(256)
Issuance of common stock under stock compensation plans	83	$ 83
Issuance of common stock under stock compensation plans (in shares)		2.1
Stock-based compensation	85	$ 85
Stock-based compensation (in shares)		0.3
Repurchase of common stock	$ (282)		(282)
Repurchase of common stock (in shares)	(5.9)	(5.9)
Balance at Jan. 28, 2017	$ 870	$ 2,707	$ (1,794)	$ (43)
Balance (in shares) at Jan. 28, 2017	170.0	170.0

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2017	Jan. 30, 2016	Jan. 31, 2015
Operating Activities
Net earnings	$ 354	$ 600	$ 720
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization expenses	645	576	508
Goodwill impairment	197	0	0
Amortization of deferred property incentives and other, net	(75)	(79)	(76)
Deferred income taxes, net	(15)	142	7
Stock-based compensation expense	91	70	68
Tax (deficiency) benefit from stock-based compensation	(1)	15	20
Excess tax benefit from stock-based compensation	(5)	(15)	(22)
Bad debt expense	0	26	41
Change in operating assets and liabilities:
Accounts receivable	(3)	(56)	(161)
Proceeds from sale of credit card receivables originated at Nordstrom	0	1,297	0
Merchandise inventories	31	(203)	(176)
Prepaid expenses and other assets	100	(126)	(4)
Accounts payable	16	(2)	15
Accrued salaries, wages and related benefits	33	(2)	18
Other current liabilities	181	50	155
Deferred property incentives	65	156	110
Other liabilities	34	2	(3)
Net cash provided by operating activities	1,648	2,451	1,220
Investing Activities
Capital expenditures	(846)	(1,082)	(861)
Change in credit card receivables originated at third parties	0	34	(8)
Proceeds from sale of credit card receivables originated at third parties	0	890	0
Other, net	55	14	(20)
Net cash used in investing activities	(791)	(144)	(889)
Financing Activities
Proceeds from long-term borrowings, net of discounts	0	16	34
Principal payments on long-term borrowings	(10)	(8)	(7)
Defeasance of long-term debt	0	(339)	0
Increase (decrease) in cash book overdrafts	4	23	(4)
Cash dividends paid	(256)	(1,185)	(251)
Payments for repurchase of common stock	(277)	(1,192)	(610)
Proceeds from issuances under stock compensation plans	83	94	141
Excess tax benefit from stock-based compensation	5	15	22
Other, net	6	37	(23)
Net cash used in financing activities	(445)	(2,539)	(698)
Net increase (decrease) in cash and cash equivalents	412	(232)	(367)
Cash and cash equivalents at beginning of year	595	827	1,194
Cash and cash equivalents at end of year	1,007	595	827
Cash paid during the year for:
Income taxes, net of refunds	112	383	391
Interest, net of capitalized interest	134	136	152
Non-cash investing and financing activities:
Beneficial interest asset acquired from the sale of credit card receivables	0	62	0
Issuance of common stock for Trunk Club acquisition	$ 0	$ 23	$ 280

Nature Of Operations And Summary Of Significant Accounting Policies

12 Months Ended

Jan. 28, 2017

Accounting Policies [Abstract]

Nature Of Operations And Summary Of Significant Accounting Policies

NOTE 1: NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The Company

Founded in 1901 as a retail shoe business in Seattle, Washington, Nordstrom, Inc. is now a leading fashion specialty retailer that offers customers a well-edited selection of high-quality fashion brands focused on apparel, shoes, cosmetics and accessories for women, men, young adults and children. This breadth of merchandise allows us to serve a wide range of customers who appreciate quality fashion and a superior shopping experience. We offer an extensive selection of high-quality brand-name and private label merchandise through multiple retail channels, including 118 Nordstrom U.S. full-line stores and at Nordstrom.com, five Canada full-line stores, 215 off-price Nordstrom Rack stores, Nordstromrack.com/HauteLook, seven Trunk Club clubhouses and TrunkClub.com, two Jeffrey boutiques and two Last Chance clearance stores. Our stores are located in 40 states throughout the U.S and in three provinces in Canada.

Through our Credit segment, our customers can access a variety of payment products and services, including a Nordstrom-branded private label card, two Nordstrom-branded Visa credit cards and a debit card for Nordstrom purchases. When customers open a Nordstrom credit or debit card, they also join our loyalty program that provides benefits based on their level of spending. Although the primary purposes of our Credit segment are to foster greater customer loyalty and drive more sales, through our program agreement with TD Bank, N.A. (“TD”) (see Note 2: Credit Card Receivable Transaction), we also receive credit card revenue.

Fiscal Year

We operate on a 52/53-week fiscal year ending on the Saturday closest to January 31st. References to 2016, 2015 and 2014 are based on a 52-week fiscal year.

Principles of Consolidation

The Consolidated Financial Statements include the balances of Nordstrom, Inc. and its subsidiaries. All intercompany transactions and balances are eliminated in consolidation.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and disclosure of contingent assets and liabilities during the reporting period. Uncertainties regarding such estimates and assumptions are inherent in the preparation of financial statements and actual results may differ from these estimates and assumptions. Our most significant accounting judgments and estimates include revenue recognition, inventory, long-lived assets, goodwill, stock-based compensation and income taxes.

Net Sales

We recognize revenue net of estimated returns and excluding sales taxes. Revenue from sales to customers shipped directly from our stores, websites and catalog, which includes shipping revenue when applicable, is recognized upon estimated receipt by the customer. We estimate customer merchandise returns based on historical return patterns and reduce sales and cost of sales accordingly. Activity in the allowance for sales returns, net, for the past three fiscal years is as follows:



Fiscal year	2016			2015			2014
Allowance at beginning of year		$170			$160			$128
Charged to costs and expenses	3,023			2,720			2,129
Deductions¹	(3,006		)	(2,710		)	(2,097		)
Allowance at end of year		$187			$170			$160

¹Deductions consist of actual returns, net of the value of the merchandise returned and any sales commission.

Credit Card Revenues, net

On October 1, 2015, we completed the sale of a substantial majority of our U.S. Visa and private label credit card portfolio to TD (see Note 2: Credit Card Receivable Transaction). Prior to the close of the credit card receivable transaction, credit card revenues included finance charges, late fees and other revenue generated by our combined Nordstrom private label card and Nordstrom Visa credit card programs, and interchange fees generated by the use of Nordstrom Visa credit cards at third party merchants. Finance charges and late fees were assessed according to the terms of the related cardholder agreements and recognized as revenue when earned. Credit card revenues were recorded net of estimated uncollectible finance charges and fees.

Following the close of the transaction and pursuant to the program agreement with TD, credit card revenues, net includes our portion of the ongoing credit card revenue, net of credit losses, from both the sold and newly generated credit card receivables. Asset amortization and deferred revenue recognition associated with assets and liabilities recorded as part of the transaction are also recorded in credit card revenues, net.

Cost of Sales

Cost of sales includes the purchase cost of inventory sold (net of vendor allowances), in-bound freight and certain costs of our loyalty program benefits.

Loyalty Program

In 2016, our Nordstrom Rewards loyalty program, which allows customers to accumulate points based on their level of spending, was expanded to enable all customers to earn benefits regardless of how they choose to pay. Prior to 2016, the loyalty program was only offered to Nordstrom cardholders. Upon reaching a certain points threshold, customers receive Nordstrom Notes (“Notes”), which can be redeemed for goods or services offered at Nordstrom full-line stores, Nordstrom.com, Nordstrom Rack and Nordstromrack.com/HauteLook. Nordstrom cardholders can also earn rewards at Trunk Club. Customers who participate in our loyalty program through our credit and debit cards receive additional benefits including reimbursements for alterations, Personal Triple Points days, shopping and fashion events and early access to the Anniversary Sale. Loyalty program liabilities of $62 were included in other current liabilities at the end of 2016 and 2015.

We estimate the net cost of Notes that will be issued and redeemed and record this cost as rewards points are accumulated. These costs, as well as reimbursed alterations, are recorded in cost of sales as we provide customers with products and services for these rewards. Other benefits of the loyalty program, including shopping and fashion events, are recorded in selling, general and administrative expenses. Total costs related to Nordstrom Rewards were $162, $164 and $149 in 2016, 2015 and 2014.

Buying and Occupancy Costs

Buying costs consist primarily of compensation and other costs incurred by our merchandising and product development groups. Occupancy costs include rent, depreciation, property taxes and facility operating costs of our retail, corporate center, fulfillment facilities and distribution operations.

Rent

We recognize minimum rent expense, net of landlord reimbursements, on a straight-line basis over the minimum lease term from the time that we control the leased property. For scheduled rent escalation clauses during the lease terms, we record minimum rent expense on a straight-line basis over the terms of the leases, with the adjustments accrued as deferred rent and included in other long-term liabilities on our Consolidated Balance Sheet for the year ended January 28, 2017. Contingent rental payments, typically based on a percentage of sales, are recognized in rent expense when payment of the contingent rent is probable.

We receive incentives from landlords to construct stores in certain developments. At the end of 2016 and 2015, liabilities of $507 and $526 were recorded within deferred property incentives, net on the Consolidated Balance Sheets and are recognized as a reduction of rent expense on a straight-line basis over the lease terms.

Selling, General and Administrative Expenses

Selling, general and administrative expenses consist primarily of compensation and benefit costs, advertising, shipping and handling costs, other miscellaneous expenses and, prior to our credit card receivable transaction in October 2015, bad debt expense related to our credit card operations.

Advertising

Advertising production costs for internet, magazines, store events and other media are expensed the first time the advertisement is run. Online marketing costs are expensed when incurred. Total advertising expenses, net of vendor allowances, of $241, $227 and $195 in 2016, 2015 and 2014 were included in selling, general and administrative expenses.

Vendor Allowances

We receive allowances from merchandise vendors for cosmetic expenses, purchase price adjustments, cooperative advertising programs and various other expenses. Allowances for cosmetic expenses are recorded in selling, general and administrative expenses as a reduction of the related costs when incurred. Purchase price adjustments are recorded as a reduction of cost of sales at the point they have been earned and the related merchandise has been marked down or sold. Allowances for cooperative advertising programs and other expenses are recorded in selling, general and administrative expenses as a reduction of the related costs when incurred. Any allowances in excess of actual costs incurred that are included in selling, general and administrative expenses are recorded as a reduction of cost of sales. Vendor allowances earned are as follows:



Fiscal year	2016		2015		2014
Cosmetic expenses		$166		$161		$140
Purchase price adjustments	179		178		164
Cooperative advertising	114		109		102
Other	6		7		7
Total vendor allowances		$465		$455		$413

Shipping and Handling Costs

Our shipping and handling costs include payments to third party shippers and costs to hold, move and prepare merchandise for shipment. These costs do not include in-bound freight to our distribution centers, which we include in the cost of our inventory. Shipping and handling costs of $453, $428 and $348 in 2016, 2015 and 2014 were included in selling, general and administrative expenses.

Stock-Based Compensation

We grant stock-based awards under our 2010 Equity Incentive Plan (“2010 Plan”), 2002 Nonemployee Director Stock Incentive Plan (“2002 Plan”) and Trunk Club Value Creation Plan (“VCP”), and employees may purchase our stock at a discount under our Employee Stock Purchase Plan (“ESPP”). We predominantly recognize stock-based compensation expense related to stock-based awards at their estimated grant date fair value, recorded on a straight-line basis over the requisite service period. Compensation expense for certain award holders is accelerated based upon achievement of age and years of service. The total compensation expense is reduced by estimated forfeitures expected to occur over the vesting period of the awards.

We estimate the grant date fair value of stock options using the Binomial Lattice option valuation model. Stock-based compensation expense related to the VCP is based on the grant date fair value of the payout scenario we believe is probable using the Black-Scholes valuation model and is recognized on an accelerated basis due to performance criteria and graded vesting features of the plan. The fair value of restricted stock is determined based on the number of shares granted and the quoted price of our common stock on the date of grant, less the estimated present value of dividends over the vesting period. Performance share units granted prior to 2016 are classified as liabilities and revalued using the quoted price of our common stock as of each reporting date. Performance share units granted in 2016 and beyond are classified as equity and the fair value is determined using the Monte-Carlo valuation model.

New Store Opening Costs

Non-capital expenditures associated with opening new stores, including marketing expenses, relocation expenses and occupancy costs, are charged to expense as incurred. These costs are included in both buying and occupancy costs and selling, general and administrative expenses according to their nature as disclosed above.

Gift Cards

We recognize revenue from the sale of gift cards when the gift card is redeemed by the customer, or we recognize breakage income when the likelihood of redemption, based on historical experience, is deemed to be remote. Based on an analysis of our program since its inception in 1999, we determined that balances remaining on cards issued beyond five years are unlikely to be redeemed and therefore are recognized as income. Breakage income was $12, $11 and $8 in 2016, 2015 and 2014. To date, our breakage rate is approximately 2% of the amount initially issued as gift cards. Gift card breakage income is included in selling, general and administrative expenses. We had outstanding gift card liabilities of $389 and $327 at the end of 2016 and 2015, which are included in other current liabilities.

Income Taxes

We use the asset and liability method of accounting for income taxes. Using this method, deferred tax assets and liabilities are recorded based on differences between the financial reporting and tax basis of assets and liabilities and for operating loss and tax credit carryforwards. The deferred tax assets and liabilities are calculated using the enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. We routinely evaluate the likelihood of realizing the benefit of our deferred tax assets and may record a valuation allowance if, based on all available evidence, it is determined that some portion of the tax benefit will not be realized.

We regularly evaluate the likelihood of realizing the benefit for income tax positions we have taken in various federal, state and foreign filings by considering all relevant facts, circumstances and information available. If we believe it is more likely than not that our position will be sustained, we recognize a benefit at the largest amount that we believe is cumulatively greater than 50% likely to be realized. Interest and penalties related to income tax matters are classified as a component of income tax expense.

Income taxes require significant management judgment regarding applicable statutes and their related interpretation, the status of various income tax audits and our particular facts and circumstances. Also, as audits are completed or statutes of limitations lapse, it may be necessary to record adjustments to our taxes payable, deferred taxes, tax reserves or income tax expense.

Comprehensive Net Earnings

Comprehensive net earnings consist of net earnings and other gains and losses affecting equity that are excluded from net earnings. These consist of postretirement plan adjustments, net of related income tax effects and foreign currency translation adjustments.

Cash Equivalents

Cash equivalents are short-term investments with a maturity of three months or less from the date of purchase and are carried at cost, which approximates fair value. At the end of 2016 and 2015, checks not yet presented for payment drawn in excess of our bank deposit balances were $156 and $152 and included within accounts payable on our Consolidated Balance Sheets.

Accounts Receivable

Accounts receivable, net includes employee credit card receivables and receivables from non-Nordstrom-branded cards. We record accounts receivable on our Consolidated Balance Sheets, net of an allowance for credit losses. The allowance for credit losses reflects our best estimate of the losses inherent in our receivables as of the balance sheet date.

Nordstrom private label credit and debit cards can be used only at our Nordstrom full-line stores in the U.S., Nordstrom Rack stores, Trunk Club, Nordstrom.com and Nordstromrack.com/HauteLook, while Nordstrom Visa credit cards also may be used for purchases outside of Nordstrom. Cash flows from the use of both the private label and Nordstrom Visa credit cards for sales originating at our stores and our website are treated as an operating activity within the Consolidated Statements of Cash Flows, as they relate to sales at Nordstrom. Prior to the credit card receivable transaction in October 2015 (see Note 2: Credit Card Receivable Transaction), we treated cash flows arising from the use of Nordstrom Visa credit cards outside of our stores as an investing activity within the Consolidated Statements of Cash Flows, as they represented loans made to our customers for purchases at third parties.

Merchandise Inventories

Merchandise inventories are generally stated at the lower of cost or market value using the retail inventory method (weighted-average cost). Under the retail method, the valuation of inventories is determined by applying a calculated cost-to-retail ratio to the retail value of ending inventory. The value of our inventory on the balance sheet is then reduced by a charge to cost of sales for retail inventory markdowns taken on the selling floor. To determine if the retail value of our inventory should be marked down, we consider current and anticipated demand, customer preferences, age of the merchandise and fashion trends. We reserve for obsolescence based on historical trends and specific identification.

Periodic physical inventories are taken at our full-line stores, distribution centers and Nordstrom Racks, and inventory records are adjusted accordingly. We evaluate and determine our shrinkage rate using the most recent physical inventory and historical results as the basis for the shrinkage reserve following each physical inventory cycle and reporting date. The shrinkage reserve is based on a percentage of sales.

Land, Property and Equipment

Land is recorded at historical cost, while property and equipment are recorded at cost less accumulated depreciation and amortization. Capitalized software includes the costs of developing or obtaining internal-use software, including external direct costs of materials and services and internal payroll costs related to the software project.

We capitalize interest on construction in progress and software projects during the period in which expenditures have been made, activities are in progress to prepare the asset for its intended use and actual interest costs are being incurred.

Depreciation and amortization are computed using the straight-line method over the asset’s estimated useful life, which is determined by asset category as follows:



Asset	Life (in years)
Buildings and improvements	5 – 40
Store fixtures and equipment	3 – 15
Leasehold improvements	5 – 40
Capitalized software	3 – 7

Leasehold improvements and leased property and equipment that are purchased at the inception of the lease, or during the lease term, are amortized over the shorter of the lease term or the asset life. Lease terms include the fixed, non-cancellable term of a lease, plus any renewal periods determined to be reasonably assured.

We receive contributions from vendors for the construction of certain fixtures in our stores. These contributions offset the related capital expenditures.

Goodwill

Goodwill represents the excess of acquisition cost over the fair value of the related net assets acquired and is not subject to amortization. We review our goodwill annually for impairment or when circumstances indicate that the carrying value may exceed the fair value. We perform this evaluation at the reporting unit level, comprised of the principal business units within our Retail segment, through the application of a two-step fair value test. The first step compares the carrying value of the reporting unit to its estimated fair value, which is based on the expected present value of future cash flows (income approach), comparable public companies and acquisitions (market approach) or a combination of both. If fair value is lower than the carrying value, then a second step is performed to quantify the amount of the impairment. The following summarizes our goodwill activity for the past three fiscal years:



	Trunk Club			HauteLook		Other¹		Total
Balance at February 1, 2014		$—			$121		$53		$174
Additions	261			—		—		261
Balance at January 31, 2015	261			121		53		435
Additions	—			—		—		—
Balance at January 30, 2016	261			121		53		435
Impairment	(197		)	—		—		(197		)
Balance at January 28, 2017		$64			$121		$53		$238

¹ Other includes Nordstrom.com and Jeffrey goodwill.

The goodwill impairment charge of $197 for the year ended January 28, 2017 related to Trunk Club resulted from changes to the long-term operating plan that reflected lower expectations for growth and profitability than previous expectations (see Note 8: Fair Value Measurements).

Long-Lived Assets

When facts and circumstances indicate that the carrying values of long-lived assets, including buildings, equipment and amortizable intangible assets, may be impaired, we perform an evaluation of recoverability by comparing the carrying values of the net assets to their related projected undiscounted future cash flows, in addition to other quantitative and qualitative analyses.

Land, property and equipment are grouped at the lowest level at which there are identifiable cash flows when assessing impairment. Cash flows for our retail store assets are identified at the individual store level, while our intangible assets associated with HauteLook and Trunk Club are identified at their respective reporting unit levels. The assets recorded in connection with the credit card receivable transaction are individually evaluated against the anticipated cash flows under the program agreement (see Note 2: Credit Card Receivable Transaction).

In 2015, our cash flow analyses resulted in retail store impairment charges of $24 and other various impairment losses of $23. The 2015 retail store impairment of $24 relates to our full-line store in Puerto Rico and was primarily driven by a challenging retail market in this territory. We did not record any material impairment losses for long-lived tangible or amortizable intangible assets in 2016 or 2014.

Amortization expense for acquired intangibles was $14, $16 and $10 in 2016, 2015 and 2014. Future amortization expense of acquired intangible assets as of January 28, 2017 are expected to be $11 in 2017, $7 in 2018, and $7 in 2019.

Self-Insurance

We retain a portion of the risk for certain losses related to employee health and welfare, workers’ compensation and other liability claims. Liabilities associated with these losses include undiscounted estimates of both losses reported and losses incurred but not yet reported. We estimate our ultimate cost using an actuarially-based analysis of claims experience, regulatory changes and other relevant factors.

Foreign Currency

We have five full-line stores in Canada and have announced plans to open one additional full-line store in Canada in 2017. The functional currency of our Canadian operations is the Canadian Dollar. We translate assets and liabilities into U.S. Dollars using the exchange rate in effect at the balance sheet date, while we translate revenues and expenses using a weighted-average exchange rate for the period. We record these translation adjustments as a component of accumulated other comprehensive loss on the Consolidated Balance Sheets. In addition, our U.S. operations incur certain expenditures denominated in Canadian Dollars and our Canadian operations incur certain expenditures denominated in U.S. Dollars. This activity results in transaction gains and losses that arise from exchange rate fluctuations and are recorded as gains or losses in the Consolidated Statements of Earnings. As of January 28, 2017, activities associated with the foreign currency exchange risk have not had a material impact on our Consolidated Financial Statements.

Recent Accounting Pronouncements

In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers, which was subsequently modified in August 2015 by ASU No. 2015-14, Revenue from Contracts with Customers: Deferral of the Effective Date. The core principle of ASU No. 2014-09 is that companies should recognize revenue when the transfer of promised goods or services to customers occurs in an amount that reflects what the company expects to receive. It requires additional disclosures to describe the nature, amount, timing and uncertainty of revenue and cash flows from contracts with customers. In 2016, the FASB issued additional ASUs that clarify the implementation guidance on principal versus agent considerations, on identifying performance obligations and licensing, on the revenue recognition criteria and other technical corrections. In our ongoing evaluation of the impacts of this ASU, we have determined that the new standard will have the following effects on the timing and amount of revenue recognized: gift card breakage income will be recognized at the point of sale rather than when redemption is considered remote; sales attributable to the loyalty program benefits (e.g., points, alterations) will be deferred rather than recorded as an increase to cost of sales; revenue related to our online sales will be recognized at the shipping point rather than receipt by the customer; and estimated costs of returns will be recorded as a current asset rather than netted with our sales return reserve. We plan to adopt this ASU in the first quarter of 2018 and are continuing to evaluate the impacts this ASU and related disclosures will have on our Consolidated Financial Statements, as well as our preferred transition method.

In February 2016, the FASB issued ASU No. 2016-02, Leases. This ASU increases transparency and comparability by recognizing a lessee’s rights and obligations resulting from leases by recording them on the balance sheet as lease assets and lease liabilities. The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification dictates whether lease expense is to be recognized based on an effective interest method or on a straight-line basis over the term of the lease. This ASU is effective for us beginning in the first quarter of 2019. Though we are currently evaluating the impact of these provisions, we expect they will have a material impact on our Consolidated Financial Statements.

In March 2016, the FASB issued ASU 2016-09, Compensation — Stock Compensation — Improvements to Employee Share-Based Payment Accounting. This ASU impacts several aspects of the accounting for share-based payment transactions, including income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. This ASU is effective for us beginning in the first quarter of 2017. We have evaluated this ASU and believe the impact to our Consolidated Financial Statements upon adoption will be immaterial, however, actual results will be dependent on unpredictable events, including the future price of our common stock, option exercise activity and forfeitures.

Credit Card Receivable Transaction	12 Months Ended
Credit Card Receivable Transaction	Jan. 28, 2017
Credit Card Receivable Transaction [Abstract]
Credit Card Receivable Transaction	NOTE 2: CREDIT CARD RECEIVABLE TRANSACTION On October 1, 2015, we completed the sale of a substantial majority of our U.S. Visa and private label credit card portfolio to TD and we entered into a long-term program agreement under which TD is the exclusive issuer of our U.S. consumer credit cards. In connection with the close of the credit card receivable transaction, we completed the defeasance of our $325 Series 2011-1 Class A Notes in order to provide the credit card receivables to TD free and clear. At close, we received $2.2 billion in cash consideration reflecting the par value of the receivables sold, and incurred $32 in transaction-related expenses during the third quarter of 2015. Pursuant to the agreement, we are obligated to offer and administer our loyalty program and perform other account servicing functions. In return, we receive a portion of the ongoing credit card revenue, net of credit losses, from both the sold and newly generated credit card receivables. We recorded certain assets and liabilities associated with the arrangement. The beneficial interest asset is carried at fair value (see Note 8: Fair Value Measurements) and is amortized over approximately four years based primarily on the payment rate of the associated receivables. The deferred revenue and investment in contract asset are recognized/amortized over seven years on a straight line basis, following the delivery of the contract obligations and expected life of the agreement. We record each of these items in credit card revenue, net in our Consolidated Statements of Earnings.

Land, Property And Equipment

12 Months Ended

Jan. 28, 2017

Property, Plant and Equipment [Abstract]

Land, Property And Equipment

NOTE 3: LAND, PROPERTY AND EQUIPMENT

Land, property and equipment consist of the following:



	January 28, 2017			January 30, 2016
Land and land improvements		$107			$104
Buildings and building improvements	1,198			1,187
Leasehold improvements	2,938			2,686
Store fixtures and equipment	3,513			3,339
Capitalized software	1,183			928
Construction in progress	554			599
Land, property and equipment	9,493			8,843
Less: accumulated depreciation and amortization	(5,596		)	(5,108		)
Land, property and equipment, net		$3,897			$3,735

The total cost of property and equipment held under capital lease obligations was $26 at the end of 2016 and 2015, with related accumulated amortization of $25 in 2016 and $24 in 2015. Depreciation and amortization expense was $631, $560 and $498 in 2016, 2015 and 2014.

Postretirement Benefits

12 Months Ended

Jan. 28, 2017

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

Postretirement Benefits

NOTE 6: POSTRETIREMENT BENEFITS

We have an unfunded defined benefit Supplemental Executive Retirement Plan (“SERP”), which provides retirement benefits to certain officers and select employees. The SERP has different benefit levels depending on the participant’s role in the Company. At the end of 2016, we had 57 participants in the plan, including 20 officers and select employees eligible for SERP benefits, 36 retirees and one beneficiary. This plan is non-qualified and does not have a minimum funding requirement.

Benefit Obligations and Funded Status

Our benefit obligation and funded status is as follows:



	January 28, 2017			January 30, 2016
Change in benefit obligation:
Benefit obligation at beginning of year		$181			$203
Participant service cost	3			3
Interest cost	7			7
Benefits paid	(7		)	(6		)
Actuarial loss (gain)	4			(26		)
Benefit obligation at end of year	188			181
Change in plan assets:
Fair value of plan assets at beginning of year	—			—
Employer contribution	7			6
Benefits paid	(7		)	(6		)
Fair value of plan assets at end of year	—			—
Underfunded status at end of year		($188	)		($181	)

The accumulated benefit obligation, which is the present value of benefits, assuming no future compensation changes, was $184 and $177 at the end of 2016 and 2015.

Amounts recognized as liabilities in the Consolidated Balance Sheets consist of the following:



	January 28, 2017		January 30, 2016
Accrued salaries, wages and related benefits		$8		$8
Other noncurrent liabilities	180		173
Net amount recognized		$188		$181

Components of SERP Expense

The components of SERP expense recognized in the Consolidated Statements of Earnings are as follows:



Fiscal year	2016		2015		2014
Participant service cost		$3		$3		$3
Interest cost	7		7		7
Amortization of net loss and other	3		11		6
Total SERP expense		$13		$21		$16

Amounts not yet reflected in SERP expense and included in accumulated other comprehensive loss (pre-tax) consist of the following:



	January 28, 2017			January 30, 2016
Accumulated loss		($41	)		($41	)
Prior service credit	4			5
Total accumulated other comprehensive loss		($37	)		($36	)

In 2017, we expect $3 of costs currently in accumulated other comprehensive loss to be recognized as components of SERP expense.

Assumptions

Weighted-average assumptions used to determine our benefit obligation and SERP expense are as follows:



Fiscal year	2016		2015		2014
Assumptions used to determine benefit obligation:
Discount rate	4.31	%	4.55	%	3.70	%
Rate of compensation increase	3.00	%	3.00	%	3.00	%
Assumptions used to determine SERP expense:
Discount rate	4.55	%	3.70	%	4.60	%
Rate of compensation increase	3.00	%	3.00	%	3.00	%

Future Benefit Payments and Contributions

As of January 28, 2017, the expected future benefit payments based upon the assumptions described above and including benefits attributable to estimated future employee service are as follows:



Fiscal year
2017		$8
2018	9
2019	10
2020	11
2021	11
2022 – 2026	60

Debt And Credit Facilities

12 Months Ended

Jan. 28, 2017

Debt Disclosure [Abstract]

Debt And Credit Facilities

NOTE 7: DEBT AND CREDIT FACILITIES

Debt

A summary of our long-term debt, including capital leases, is as follows:



	January 28, 2017			January 30, 2016
Secured
Mortgage payable, 7.68%, due April 2020	24			30
Other	3			5
Total secured debt	27			35
Unsecured
Net of unamortized discount:
Senior notes, 6.25%, due January 2018	650			649
Senior notes, 4.75%, due May 2020	499			499
Senior notes, 4.00%, due October 2021	500			500
Senior debentures, 6.95%, due March 2028	300			300
Senior notes, 7.00%, due January 2038	146			146
Senior notes, 5.00%, due January 2044	602			600
Other	50			76
Total unsecured debt	2,747			2,770

Total long-term debt	2,774			2,805
Less: current portion	(11		)	(10		)
Total due beyond one year		$2,763			$2,795

Our mortgage payable is secured by an office building that had a net book value of $59 at the end of 2016. Other secured debt as of January 28, 2017 and January 30, 2016 consisted primarily of capital lease obligations.

Required principal payments on long-term debt, excluding capital lease obligations, are as follows:



Fiscal year
2017		$10
2018	56
2019	8
2020	502
2021	500
Thereafter	1,764

On March 9, 2017, we issued $350 aggregate principal amount of 4.00% senior unsecured notes due March 2027 and $300 aggregate principal amount of 5.00% senior unsecured notes due January 2044 (the “2044 Notes”). The 2044 Notes will be a further issuance of, and will be fully fungible, rank equally in right of payment and form a single series with, our outstanding 5.00% senior unsecured notes due 2044. We intend to use the proceeds to prepay the outstanding principal and interest of our $650 senior unsecured notes due January 2018 (“2018 Notes”). On March 7, 2017 we provided a Notice of Redemption to the holders of the 2018 Notes to pay the outstanding principal and interest on April 6, 2017. The 2018 Notes are classified as long-term on our Consolidated Balance Sheet as of January 28, 2017.

Interest Expense

The components of interest expense, net are as follows:



Fiscal year	2016			2015			2014
Interest on long-term debt and short-term borrowings		$147			$153			$156
Less:
Interest income	(1		)	—			(1		)
Capitalized interest	(25		)	(28		)	(17		)
Interest expense, net		$121			$125			$138

Credit Facilities

As of January 28, 2017, we had total short-term borrowing capacity of $800 under our senior unsecured revolving credit facility (“revolver”) that expires in April 2020. Under the terms of our revolver, we pay a variable rate of interest and a commitment fee based on our debt rating. The revolver is available for working capital, capital expenditures and general corporate purposes. We have the option to increase the revolving commitment by up to $200, to a total of $1,000, provided that we obtain written consent from the lenders.

The revolver requires that we maintain an adjusted debt to earnings before interest, income taxes, depreciation, amortization and rent (“EBITDAR”) leverage ratio of no more than four times. As of January 28, 2017 and January 30, 2016, we were in compliance with this covenant.

Our $800 commercial paper program allows us to use the proceeds to fund operating cash requirements. Under the terms of the commercial paper agreement, we pay a rate of interest based on, among other factors, the maturity of the issuance and market conditions. The issuance of commercial paper has the effect, while it is outstanding, of reducing available liquidity under the revolver by an amount equal to the principal amount of commercial paper.

As of January 28, 2017 and January 30, 2016, we had no issuances outstanding under our commercial paper program and no borrowings outstanding under our revolver.

Our wholly owned subsidiary in Puerto Rico maintains a $52 unsecured borrowing facility to support our expansion into that market. The facility expires in November 2018 and borrowings on this facility incur interest based upon the LIBOR plus 1.275% per annum and also incurs a fee based on our unused commitment. As of January 28, 2017 and January 30, 2016, we had $50 and $52 outstanding on this facility which is included as a component in other unsecured debt.

Fair Value Measurements

12 Months Ended

Jan. 28, 2017

Fair Value Disclosures [Abstract]

Fair Value Measurements

NOTE 8: FAIR VALUE MEASUREMENTS

We disclose our financial assets and liabilities that are measured at fair value in our Consolidated Balance Sheets by level within the fair value hierarchy as defined by applicable accounting standards:

Level 1: Quoted market prices in active markets for identical assets or liabilities

Level 2: Other observable market-based inputs or unobservable inputs that are corroborated by market data

Level 3: Unobservable inputs that cannot be corroborated by market data that reflect the reporting entity’s own assumptions

Financial Instruments Measured at Fair Value on a Recurring Basis

We recorded a beneficial interest asset when we completed the sale of a substantial majority of our U.S. Visa and private label credit card portfolio (see Note 2: Credit Card Receivable Transaction). We determined the fair value of the beneficial interest asset based on a discounted cash flow model using Level 3 inputs of the fair value hierarchy. Inputs and assumptions include the discount rate, payment rate, credit loss rate and revenues and expenses associated with the program agreement. Given our review of market participant capital structures in the banking and credit card industries and our historical and expected portfolio performance, we used the following ranges of input assumptions to determine the fair value as of January 28, 2017 and January 30, 2016:



	January 28, 2017				January 30, 2016
	Minimum		Maximum		Minimum		Maximum
Discount rate	12	%	12	%	12	%	12	%
Monthly payment rate	6	%	10	%	6	%	18	%
Annual credit loss rate	3	%	4	%	2	%	4	%
Annual revenues as a percent to credit card receivables	15	%	18	%	10	%	18	%
Annual expenses as a percent to credit card receivables	5	%	9	%	4	%	9	%

We recognized $26 and $25 of amortization expense in 2016 and 2015 on the beneficial interest asset, which had a fair value of $11 and $37 at January 28, 2017 and January 30, 2016, respectively. Amortization primarily reflects payments received on the receivables sold and is recorded in credit card revenues, net.

Financial Instruments Not Measured at Fair Value

Financial instruments not measured at fair value on a recurring basis include cash and cash equivalents, accounts receivable, accounts payable and certificates of deposit, which approximate fair value due to their short-term nature, and long-term debt.

We estimate the fair value of long-term debt using quoted market prices of the same or similar issues and, as such, this is considered a Level 2 fair value measurement. The following table summarizes the carrying value and fair value estimate of our long-term debt, including current maturities:



	January 28, 2017		January 30, 2016
Carrying value of long-term debt		$2,774		$2,805
Fair value of long-term debt	2,949		3,077

Non-financial Assets Measured at Fair Value on a Nonrecurring Basis

We also measure certain non-financial assets at fair value on a nonrecurring basis, primarily goodwill, investment in contract asset and long-lived tangible and intangible assets, in connection with periodic evaluations for potential impairment. We estimate the fair value of these assets using primarily unobservable inputs and, as such, these are considered Level 3 fair value measurements.

In 2014, we acquired 100% of the outstanding equity of Trunk Club for a net purchase price of $280, which was settled in Nordstrom common stock, and the following year we settled $23 of an indemnity holdback through Nordstrom common stock. In connection with the acquisition, we recorded $261 of goodwill. In the third quarter of 2016, the long-term operating plan for Trunk Club was updated to reflect current expectations for future growth and profitability, which were lower than previous expectations. Due to lowered expectations, we tested Trunk Club goodwill for impairment one quarter prior to the annual evaluation. Step 1 test results indicated that the estimated fair value of the reporting unit was less than the carrying value.

In our Step 2 analysis, we used a combination of the expected present value of future cash flows (income approach) and comparable public companies (market approach) to determine the fair value of the reporting unit. These approaches use primarily unobservable inputs, including discount, sales growth and profit margin rates, which are considered Level 3 fair value measurements. The fair value analysis took into account recent and expected operating performance as well as the overall decline in the retail industry. Within our Retail Segment, we recognized a goodwill impairment charge of $197, reducing Trunk Club goodwill to $64 from $261 as of January 30, 2016.

In 2015, we recorded asset impairment charges of $59, which are included in our Retail Business selling, general and administrative expenses. We did not record any material impairment losses in 2014. For additional information related to goodwill, intangible assets, long-lived assets and impairments, see Note 1: Nature of Operations and Summary of Significant Accounting Policies.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Leases

12 Months Ended

Jan. 28, 2017

Leases [Abstract]

Leases

NOTE 9: LEASES

We lease the land or the land and buildings at many of our stores. Additionally, we lease office facilities, warehouses and equipment. Most of these leases are classified as operating leases and they expire at various dates through 2080. The majority of our fixed, non-cancellable lease terms are 15 to 30 years for Nordstrom full-line stores and 10 to 15 years for Nordstrom Rack stores. Many of our leases include options that allow us to extend the lease term beyond the initial commitment period, subject to terms agreed to at lease inception. Most of our leases also provide for payment of operating expenses, such as common area charges, real estate taxes and other executory costs, and some leases require additional payments based on sales, referred to as “percentage rent.”

Future minimum lease payments as of January 28, 2017 are as follows:



Fiscal year	Capital leases		Operating leases
2017		$1		$277
2018	1		302
2019	—		299
2020	—		280
2021	—		256
Thereafter	—		1,435
Total minimum lease payments		$2		$2,849
Less: amount representing interest	—
Present value of net minimum lease payments		$2

Rent expense for 2016, 2015 and 2014 was as follows:



Fiscal year	2016			2015			2014
Minimum rent:
Store locations		$230			$204			$170
Offices, warehouses and equipment	40			41			36
Percentage rent	12			13			14
Property incentives	(80		)	(82		)	(83		)
Total rent expense		$202			$176			$137

The rent expense above does not include common area charges, real estate taxes and other executory costs, which were $112 in 2016, $97 in 2015 and $88 in 2014.

Commitments And Contingencies	12 Months Ended
Commitments And Contingencies	Jan. 28, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments And Contingencies	NOTE 10: COMMITMENTS AND CONTINGENCIES Our estimated total purchase obligations, capital expenditure contractual commitments and inventory purchase orders were $1,661 as of January 28, 2017. In connection with the purchase of foreign merchandise, we have outstanding trade letters of credit totaling $1 as of January 28, 2017. Plans for our Manhattan full-line store, which we currently expect to open in 2019, ultimately include owning a condominium interest in a mixed-use tower and leasing certain nearby properties. As of January 28, 2017, we had approximately $249 of fee interest in land, which is expected to convert to the condominium interest once the store is constructed. We have committed to make future installment payments based on the developer meeting pre-established construction and development milestones. In the event that this project is not completed, the opening may be delayed and we may be subject to future losses or capital commitments in order to complete construction or to monetize our investment in the land.

Shareholders' Equity

12 Months Ended

Jan. 28, 2017

Stockholders' Equity Note [Abstract]

Shareholders' Equity

NOTE 11: SHAREHOLDERS’ EQUITY

The following is a summary of the activity related to our share repurchase programs in 2014, 2015 and 2016:



	Shares	Average price per share		Amount
Capacity at February 1, 2014					$670
September 2014 authorization (ended March 1, 2016)				1,000
Shares repurchased	8.9		$66	(595		)
Capacity at January 31, 2015				1,075
October 2015 authorization (ended March 1, 2017)				1,000
Shares repurchased	19.1		$63	(1,191		)
Expiration of unused capacity in March 2015				(73		)
Capacity at January 30, 2016				811
Shares repurchased	5.9		$48	(282		)
Capacity at January 28, 2017					$529

Our October 1, 2015 Board authorized share repurchase program, which had $529 of remaining capacity as of January 28, 2017, expired on March 1, 2017. There was $409 of unused capacity upon program expiration. In February 2017, our Board of Directors authorized an additional program to repurchase up to $500 of our outstanding common stock, through August 31, 2018. The actual number, price, manner and timing of future share repurchases, if any, will be subject to market and economic conditions and applicable SEC rules.

We paid dividends of $1.48 per share in 2016, $6.33 per share in 2015 and $1.32 per share in 2014. Dividends paid in 2015 included a special cash dividend of $905, or $4.85 per share of outstanding common stock, in addition to our quarterly dividends totaling $1.48 per share. The special dividend was authorized by our Board of Directors on October 1, 2015 and was paid using proceeds from the sale of our credit card receivables (see Note 2: Credit Card Receivable Transaction).

In February 2017, subsequent to year end, we declared a quarterly dividend of $0.37 per share, which was paid on March 15, 2017.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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+ Details

Stock-Based Compensation

12 Months Ended

Jan. 28, 2017

Share-based Compensation [Abstract]

Stock-Based Compensation

NOTE 12: STOCK-BASED COMPENSATION

We currently grant stock-based awards under our 2010 Plan, 2002 Plan and Trunk Club VCP, and employees may purchase our stock at a discount under our ESPP.

In 2010, our shareholders approved the adoption of the 2010 Plan, which replaced the 2004 Equity Incentive Plan (“2004 Plan”). The 2010 Plan authorizes the grant of stock options, restricted stock, performance share units, stock appreciation rights and unrestricted shares of common stock to employees. The aggregate number of shares to be issued under the 2010 Plan may not exceed 30.3 plus any shares currently outstanding under the 2004 Plan that are forfeited or expire during the term of the 2010 Plan. No future grants will be made under the 2004 Plan. As of January 28, 2017, we have 72.3 shares authorized, 45.5 shares issued and outstanding and 10.7 shares remaining available for future grants under the 2010 Plan.

The 2002 Plan authorizes the grant of stock awards to our nonemployee directors. These awards may be deferred or issued in the form of restricted or unrestricted stock, non-qualified stock options or stock appreciation rights. As of January 28, 2017, we had 0.9 shares authorized and 0.4 shares available for issuance under this plan. In 2016, total expense on deferred shares was less than $1.

The Trunk Club VCP is a performance-based plan which provides for three payout scenarios based on the results of Trunk Club business meeting minimum or exceeding maximum 2018 sales and earnings metrics. As of January 28, 2017, we granted nearly all of the 1.0 units available for grant. There is no unrecognized stock-based compensation expense related to nonvested VCP units as no payout is expected. If at any time it becomes probable that another outcome will be achieved, compensation expense will be cumulatively adjusted based on the grant date fair value associated with that payout scenario.

Under the ESPP, employees may make payroll deductions of up to 10% of their base and bonus compensation. At the end of each six-month offering period, participants may apply their accumulated payroll deductions toward the purchase of shares of our common stock at 90% of the fair market value on the last day of the offer period. As of January 28, 2017, we had 12.6 shares authorized and 2.6 shares available for issuance under the ESPP. We issued 0.4 shares under the ESPP during 2016 and 0.3 shares during 2015. At the end of 2016 and 2015, we had current liabilities of $7 for future purchases of shares under the ESPP.

The following table summarizes our stock-based compensation expense:



Fiscal year	2016			2015			2014
Stock options		$36			$33			$37
Restricted stock units	34			18			10
Acquisition-related stock compensation	15			17			11
Performance share units	1			(3		)	6
Other	5			5			4
Total stock-based compensation expense, before income tax benefit	91			70			68
Income tax benefit	(28		)	(21		)	(23		)
Total stock-based compensation expense, net of income tax benefit		$63			$49			$45

The stock-based compensation expense before income tax benefit was recorded in our Consolidated Statements of Earnings as follows:



Fiscal year	2016		2015		2014
Cost of sales and related buying and occupancy costs		$25		$20		$17
Selling, general and administrative expenses	66		50		51
Total stock-based compensation expense, before income tax benefit		$91		$70		$68

The benefit of tax deductions in excess of the compensation cost recognized for stock-based awards is classified as financing cash inflows and is reflected as excess tax benefit from stock-based compensation in the Consolidated Statements of Cash Flows.

Special Dividend Adjustment

In connection with the closing of our credit card receivable transaction on October 1, 2015, our Board of Directors authorized a special cash dividend of $4.85 per share (see Note 11: Shareholders’ Equity). As required by our equity incentive plans, an adjustment was made to outstanding awards to prevent dilution of their value resulting from the special cash dividend. These adjustments did not result in incremental stock-based compensation expense as the anti-dilutive adjustments were required by our equity incentive plans. The adjustments to awards included increasing the number of outstanding restricted stock units, stock options and performance shares, as well as reducing the exercise prices of outstanding stock options.

Stock Options

Our Compensation Committee of our Board of Directors approves annual grants of nonqualified stock options to employees. We used the following assumptions to estimate the fair value for stock options at each grant date (excluding options granted in connection with the Trunk Club acquisition):



Fiscal Year		2016			2015			2014¹
Assumptions
	Risk-free interest rate: Represents the yield on U.S. Treasury zero-coupon securities that mature over the 10-year life of the stock options.	0.7% – 1.9%			0.2% – 2.1%			0.2% – 2.6%
	Weighted-average volatility: Based on a combination of the historical volatility of our common stock and the implied volatility of exchange-traded options for our common stock.	36.8		%	29.4		%	30.1		%
	Weighted-average expected dividend yield: Our forecasted dividend yield for the next 10 years.	2.2		%	1.8		%	2.2		%
	Expected life in years: Represents the estimated period of time until option exercise. The expected term of options granted was derived from the output of the Binomial Lattice option valuation model and was based on our historical exercise behavior, taking into consideration the contractual term of the option and our employees’ expected exercise and post-vesting employment termination behavior.	6.9			6.7			6.8

Grant Date Information
	Date of grant	February 29, 2016			February 24, 2015			March 3, 2014
	Weighted-average fair value per option		$16			$21			$16
	Exercise price per option		$51			$81			$61

¹As part of the Trunk Club acquisition in 2014, the weighted-average fair value per option at the grant date was $59.

Supplemental nonqualified stock options were also granted to certain company leaders on June 7, 2016 at an exercise price per option of $41. The assumptions used to estimate the fair value for the supplemental stock options were similar to the 2016 annual grant assumptions. The weighted-average fair value per option at the grant date was $13. In 2016 and 2015, we also granted stock options to certain qualified employees outside of the annual and supplemental grant dates, which were insignificant in aggregate. The number of awards granted to an individual are determined based upon a percentage of the recipient’s base salary and the fair value of the stock options. Options typically vest over four years, and expire 10 years after the date of grant.

A summary of stock option activity for 2016, which includes awards issued as part of the Trunk Club acquisition in 2014, is presented below:



Fiscal year	2016
	Shares		Weighted- average exercise price		Weighted-average remaining contractual life (years)	Aggregate intrinsic value
Outstanding, beginning of year	13.2			$47
Granted	2.9		50
Exercised	(1.7	)	37
Forfeited or cancelled	(0.9	)	57
Outstanding, end of year

Consolidated Statements Of Shareholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Jan. 28, 2017	Jan. 30, 2016	Jan. 31, 2015
Dividends (in dollars per share)	$ 1.48	$ 6.33	$ 1.32
Recurring Dividend [Member]
Dividends (in dollars per share)		1.48
Special Dividend related to the sale of credit card receivables [Member]
Dividends (in dollars per share)		$ 4.85

401(k) Plan	12 Months Ended
401(k) Plan	Jan. 28, 2017
Four Zero One K Plan [Abstract]
401(k) Plan	NOTE 5: 401(K) PLAN We provide a 401(k) plan for our employees that allows for employee elective contributions and discretionary Company contributions. Employee elective contributions are funded through voluntary payroll deductions. Our discretionary Company contribution is funded in an amount determined by our Board of Directors each year. Total expenses related to Company contributions of $92, $62 and $77 in 2016, 2015 and 2014 were included in both buying and occupancy costs and selling, general and administrative expenses on our Consolidated Statements of Earnings.