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2.0.0.10 false FAIR VALUE MEASUREMENTS 118 - Disclosure - FAIR VALUE MEASUREMENTS true false false false 1 usd $ false false iso4217_USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 iso4217_USD_per_shares Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares 0 shares Standard http://www.xbrl.org/2003/instance shares 0 5 FAIR VALUE MEASUREMENTS 3 us-gaap_FairValueMeasurementInputsDisclosureTextBlock us-gaap true na duration string No definition available. false false false false false false false false false false false false 1 false false false false 0 0 <div> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="4%" align="left">11.</td> <td valign="top" align="left">FAIR VALUE MEASUREMENTS</td> </tr> </table> The fair value of an asset is considered to be the price at which the asset could be sold in an orderly transaction between unrelated knowledgeable and willing parties. A liability’s fair value is defined as the amount that would be paid to transfer the liability to a new obligor, not the amount that would be paid to settle the liability with the creditor. Assets and liabilities recorded at fair value are measured using a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include:   <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="10%"></td> <td valign="bottom" width="1%"></td> <td width="1%"></td> <td valign="bottom" width="1%"></td> <td width="87%"></td> </tr> <tr> <td valign="top"> •     Level 1 </td> <td valign="bottom"> </td> <td valign="bottom" align="center">–</td> <td valign="bottom"> </td> <td valign="bottom">Observable inputs that reflect quoted prices in active markets</td> </tr> <tr> <td height="8"></td> <td height="8" colspan="2"></td> <td height="8" colspan="2"></td> </tr> <tr> <td valign="top"> •     Level 2 </td> <td valign="bottom"> </td> <td valign="bottom" align="center">–</td> <td valign="bottom"> </td> <td valign="bottom">Inputs other than quoted prices in active markets that are either directly or indirectly observable</td> </tr> <tr> <td height="8"></td> <td height="8" colspan="2"></td> <td height="8" colspan="2"></td> </tr> <tr> <td valign="top" nowrap="nowrap"> •     Level 3 </td> <td valign="bottom"> </td> <td valign="top" nowrap="nowrap" align="center">–</td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap">Unobservable inputs in which little or no market data exists, therefore requiring the Company to develop its own assumptions</td> </tr> </table> Assets and Liabilities Measured at Fair Value on a Recurring Basis The assets and liabilities that are measured at fair value on a recurring basis as of January 31, 2010 are as follows (in millions):   <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="57%"></td> <td valign="bottom" width="13%"></td> <td></td> <td></td> <td valign="bottom" width="13%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="12%"></td> <td></td> <td></td> </tr> <tr> <td valign="bottom"> </td> <td valign="bottom">    </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="9" align="center">Fair Value at Reporting Date Using</td> </tr> <tr> <td valign="bottom"> </td> <td valign="bottom">    </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">    Level 1    </td> <td valign="bottom">    </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">    Level 2    </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">    Level 3    </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Available-for-sale securities </td> <td valign="bottom">    </td> <td valign="bottom">$</td> <td valign="bottom" align="right">6</td> <td valign="bottom">    </td> <td valign="bottom">$</td> <td valign="bottom" align="right">—</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">—</td> </tr> <tr> <td valign="top"> Derivative agreements - assets </td> <td valign="bottom">    </td> <td valign="bottom"> </td> <td valign="bottom" align="right">—</td> <td valign="bottom">    </td> <td valign="bottom"> </td> <td valign="bottom" align="right">15</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">—</td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Derivative agreements - liabilities </td> <td valign="bottom">    </td> <td valign="bottom"> </td> <td valign="bottom" align="right">—</td> <td valign="bottom">    </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(4</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">—</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">    </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom">  </td> <td valign="bottom">    </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom">  </td> </tr> <tr> <td valign="top"> Total </td> <td valign="bottom">    </td> <td valign="bottom">$</td> <td valign="bottom" align="right">6</td> <td valign="bottom">    </td> <td valign="bottom">$</td> <td valign="bottom" align="right">11</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">—</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">    </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom">  </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom">  </td> <td valign="bottom">    </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom">  </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom">  </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom">  </td> </tr> </table> The Company’s available-for-sale securities are discussed further under the caption “Short-Term Investments” in Note 1. The Company’s derivative agreements are discussed further in Note 5. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis The assets and liabilities that are measured at fair value on a nonrecurring basis as of January 31, 2010 are as follows (in millions):   <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="71%"></td> <td valign="bottom" width="12%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="11%"></td> <td></td> <td></td> <td></td> </tr> <tr> <td valign="bottom"> </td> <td valign="bottom">    </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">Fair Value Level 3</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">Fiscal 2009 Gains (Losses)</td> <td valign="bottom"> </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> HD Supply investment </td> <td valign="bottom">    </td> <td valign="bottom">$</td> <td valign="bottom" align="right">—</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">(163</td> <td valign="bottom" nowrap="nowrap">) </td> </tr> <tr> <td valign="top"> Store Rationalization - lease obligation costs, net </td> <td valign="bottom">    </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(191</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(84</td> <td valign="bottom" nowrap="nowrap">) </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">    </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom">  </td> <td> </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Total </td> <td valign="bottom">    </td> <td valign="bottom">$</td> <td valign="bottom" align="right">(191</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">(247</td> <td valign="bottom" nowrap="nowrap">) </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">    </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom">  </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom">  </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom">  </td> <td> </td> </tr> </table> During fiscal 2009, the Company impaired the remaining value of its investment in HD Supply using fair value measurements with unobservable inputs (level 3), as further discussed in Note 4. Additionally, lease obligation costs included in the Company’s Rationalization Charges were measured on a nonrecurring basis using fair value measurements with unobservable inputs (level 3), as further discussed in Note 2. Long-lived assets and goodwill and other intangible assets were also analyzed for impairment on a nonrecurring basis using fair value measurements with unobservable inputs (level 3). The Company did not record any impairment charges related to goodwill and other intangible assets in fiscal 2009 as further discussed in Note 1 under the caption “Goodwill and Other Intangible Assets.” Impairment charges related to long-lived assets in fiscal 2009 were not material, as further discussed in Note 1 under the caption “Impairment of Long-Lived Assets.” The aggregate fair value of the Company’s Senior Notes, based on quoted market prices (level 1), was $9.5 billion at January 31, 2010 compared to a carrying value of $9.3 billion.   </div> 11. FAIR VALUE MEASUREMENTS The fair value of an asset is considered to be the price at which the asset could be sold in an orderly transaction between false false false This element represents the disclosure related to the fair value measurement of assets and liabilities which includes [financial] instruments measured at fair value that are classified in stockholders' equity. Such assets and liabilities may be measured on a recurring or nonrecurring basis. The disclosures which may be required or desired include: (1) for assets and liabilities measured on a recurring basis, disclosure may include: (a) the fair value measurements at the reporting date; (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3); (c) for fair value measurements using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (i) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (ii) purchases, sales, issuances, and settlements (net); (iii) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs); (d) the amount of the total gains or losses for the period in subparagraph (c) (i) above included in earnings (or changes in net assets) that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date and a description of where those unrealized gains or losses are reported in the statement of income (or activities); (e) the valuation technique(s) used to measure fair value and a discussion of changes in valuation techniques, if any, during the period and (2) for assets and liabilities that are measured at fair value on a nonrecurring basis (for example, impaired assets) disclosure may include, in addition to (a) above: (a) the reasons for the fair value measurements recorded; (b) the same as (b) above; (c) for fair value measurements using significant unobservable inputs (Level 3), a description of the inputs and the information used to develop the inputs; and (d) the valuation technique(s) used to measure fair value and a discussion of changes, if any, in the valuation technique(s) used to measure similar assets and/or liabilities in prior periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 33 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 6 -Footnote 4 false false 1 1 false UnKnown UnKnown UnKnown false true