WHOLE FOODS MARKET INC, 10-Q filed on 2/16/2017
Quarterly Report
Document and Entity
4 Months Ended
Jan. 15, 2017
Feb. 10, 2017
Document and Entity [Abstract]
 
 
Entity Registrant Name
WHOLE FOODS MARKET INC 
 
Entity Central Index Key
0000865436 
 
Document Type
10-Q 
 
Entity Filer Category
Large Accelerated Filer 
 
Current Fiscal Year End Date
--09-24 
 
Document Period End Date
Jan. 15, 2017 
 
Document Fiscal Year Focus
2017 
 
Document Fiscal Period Focus
Q1 
 
Amendment Flag
false 
 
Entity Common Stock, Shares Outstanding
 
318,564,535 
Consolidated Balance Sheets (USD $)
In Millions, unless otherwise specified
Jan. 15, 2017
Sep. 25, 2016
Current assets:
 
 
Cash and cash equivalents
$ 350 
$ 351 
Short-term investments - available-for-sale securities
374 
379 
Restricted cash
125 
122 
Accounts receivable
251 
242 
Merchandise inventories
554 
517 
Prepaid expenses and other current assets
123 
167 
Deferred income taxes
210 
197 
Total current assets
1,987 
1,975 
Property and equipment, net of accumulated depreciation and amortization
3,460 
3,442 
Goodwill
710 
710 
Intangible assets, net of accumulated amortization
72 
74 
Deferred income taxes
111 
100 
Other assets
42 
40 
Total assets
6,382 
6,341 
Current liabilities:
 
 
Current installments of long-term debt and capital lease obligations
3 
3 
Accounts payable
288 
307 
Accrued payroll, bonus and other benefits due team members
421 
407 
Dividends payable
45 
43 
Other current liabilities
543 
581 
Total current liabilities
1,300 
1,341 
Long-term debt and capital lease obligations, less current installments
1,048 
1,048 
Deferred lease liabilities
653 
640 
Other long-term liabilities
89 
88 
Total liabilities
3,090 
3,117 
Commitments and contingencies
   
   
Shareholders’ equity:
 
 
Common stock, no par value, 1,200 shares authorized; 377.0 shares issued; 318.5 and 318.3 shares outstanding at 2017 and 2016, respectively
2,944 
2,933 
Common stock in treasury, at cost, 58.5 and 58.7 shares at 2017 and 2016, respectively
(2,018)
(2,026)
Accumulated other comprehensive loss
(33)
(32)
Retained earnings
2,399 
2,349 
Total shareholders’ equity
3,292 
3,224 
Total liabilities and shareholders’ equity
$ 6,382 
$ 6,341 
Consolidated Balance Sheets (Parenthetical) (USD $)
Jan. 15, 2017
Sep. 25, 2016
Statement of Financial Position [Abstract]
 
 
Common Stock, Shares Authorized
1,200,000,000 
1,200,000,000 
Common Stock, Shares, Issued
377,000,000 
377,000,000 
Common Stock, Shares, Outstanding
318,500,000 
318,300,000 
Common Stock, No Par Value
   
   
Treasury Stock, Shares
58,500,000 
58,700,000 
Consolidated Statements of Operations (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 4 Months Ended 12 Months Ended
Sep. 25, 2016
Jul. 3, 2016
Apr. 10, 2016
Jan. 15, 2017
Jan. 17, 2016
Sep. 25, 2016
Income Statement [Abstract]
 
 
 
 
 
 
Sales
 
 
 
$ 4,918 
$ 4,829 
 
Cost of goods sold and occupancy costs
 
 
 
3,268 
3,188 
 
Gross profit
 
 
 
1,650 
1,641 
 
Selling, general and administrative expenses
 
 
 
1,417 
1,373 
 
Pre-opening expenses
 
 
 
21 
13 
 
Relocation, store closure and lease termination costs
 
 
 
41 
3 
 
Operating income
 
 
 
171 
252 
 
Interest expense
 
 
 
(15)
(7)
 
Investment and other income
 
 
 
 
4 
 
Income before income taxes
 
 
 
156 
249 
 
Provision for income taxes
 
 
 
61 
92 
 
Net income
 
 
 
$ 95 
$ 157 
$ 507 
Basic earnings per share (in dollars per share)
 
 
 
$ 0.30 
$ 0.47 
 
Weighted average shares outstanding (in shares)
 
 
 
318.2 
337.0 
 
Diluted earnings per share (in dollars per share)
 
 
 
$ 0.30 
$ 0.46 
 
Weighted average shares outstanding, diluted basis (in shares)
 
 
 
318.7 
338.2 
 
Dividends declared per common share (in dollars per share)
$ 0.135 
$ 0.135 
$ 0.135 
$ 0.14 
$ 0.135 
$ 0.54 
Consolidated Statements of Comprehensive Income (USD $)
In Millions, unless otherwise specified
4 Months Ended 12 Months Ended
Jan. 15, 2017
Jan. 17, 2016
Sep. 25, 2016
Statement of Comprehensive Income [Abstract]
 
 
 
Net income
$ 95 
$ 157 
$ 507 
Other comprehensive loss, net of tax:
 
 
 
Foreign currency translation adjustments
(1)
(10)
 
Other comprehensive loss, net of tax
(1)
(10)
(4)
Comprehensive income
$ 94 
$ 147 
 
Consolidated Statements of Shareholders' Equity (USD $)
In Millions, unless otherwise specified
Total
Common stock
Common stock in treasury
Accumulated other comprehensive loss
Retained earnings
Balances at Sep. 27, 2015
$ 3,769 
$ 2,904 
$ (1,124)
$ (28)
$ 2,017 
Balances (in shares) at Sep. 27, 2015
 
348.9 
 
 
 
Increase (Decrease) in Shareholders' Equity
 
 
 
 
 
Net income
507 
 
 
 
507 
Other comprehensive income (loss), net of tax
(4)
 
 
(4)
 
Dividends ($0.405 and $0.52 per common share for the forty weeks ended July 3, 2016 and fiscal year ended September 27, 2015, respectively)
(174)
 
 
 
(174)
Issuance of common stock pursuant to team member stock plans
19 
(23)
42 
 
 
Issuance of common stock pursuant to team member stock plans (in shares)
 
1.1 
 
 
 
Purchase of treasury stock
(944)
 
(944)
 
 
Purchase of treasury stock (in shares)
 
(31.7)
 
 
 
Tax benefit related to exercise of team member stock options
3 
3 
 
 
 
Share-based payment expense
49 
49 
 
 
 
Other
(1)
 
 
 
(1)
Balances at Sep. 25, 2016
3,224 
2,933 
(2,026)
(32)
2,349 
Balances (in shares) at Sep. 25, 2016
318.3 
318.3 
 
 
 
Increase (Decrease) in Shareholders' Equity
 
 
 
 
 
Net income
95 
 
 
 
95 
Other comprehensive income (loss), net of tax
(1)
 
 
(1)
 
Dividends ($0.405 and $0.52 per common share for the forty weeks ended July 3, 2016 and fiscal year ended September 27, 2015, respectively)
(45)
 
 
 
(45)
Issuance of common stock pursuant to team member stock plans
5 
(3)
8 
 
 
Issuance of common stock pursuant to team member stock plans (in shares)
 
0.2 
 
 
 
Share-based payment expense
14 
14 
 
 
 
Balances at Jan. 15, 2017
$ 3,292 
$ 2,944 
$ (2,018)
$ (33)
$ 2,399 
Balances (in shares) at Jan. 15, 2017
318.5 
318.5 
 
 
 
Consolidated Statements of Shareholders' Equity (Parenthetical)
3 Months Ended 4 Months Ended 12 Months Ended
Sep. 25, 2016
Jul. 3, 2016
Apr. 10, 2016
Jan. 15, 2017
Jan. 17, 2016
Sep. 25, 2016
Statement of Stockholders' Equity [Abstract]
 
 
 
 
 
 
Dividends declared per common share (in dollars per share)
$ 0.135 
$ 0.135 
$ 0.135 
$ 0.14 
$ 0.135 
$ 0.54 
Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
4 Months Ended
Jan. 15, 2017
Jan. 17, 2016
Cash flows from operating activities
 
 
Net income
$ 95 
$ 157 
Adjustments to reconcile net income to net cash provided by operating activities:
 
 
Depreciation and amortization
189 
147 
Share-based payment expense
14 
16 
LIFO expense
 
2 
Deferred income tax expense
(24)
(30)
Excess tax benefit related to exercise of team member stock options
 
(1)
Accretion of premium/discount on marketable securities
 
1 
Deferred lease liabilities
18 
8 
Other
4 
2 
Net change in current assets and liabilities:
 
 
Accounts receivable
(9)
6 
Merchandise inventories
(37)
(67)
Prepaid expenses and other current assets
44 
(7)
Accounts payable
(19)
(16)
Accrued payroll, bonus and other benefits due team members
14 
(25)
Other current liabilities
(6)
28 
Net change in other long-term liabilities
1 
11 
Net cash provided by operating activities
284 
232 
Cash flows from investing activities
 
 
Development costs of new locations
(150)
(91)
Other property and equipment expenditures
(95)
(88)
Purchases of available-for-sale securities
(200)
(133)
Sales and maturities of available-for-sale securities
205 
220 
Payment for purchase of acquired entities, net of cash acquired
 
(11)
Other investing activities
(4)
(6)
Net cash used in investing activities
(244)
(109)
Cash flows from financing activities
 
 
Purchases of treasury stock
 
(634)
Common stock dividends paid
(43)
(45)
Issuance of common stock
5 
7 
Excess tax benefit related to exercise of team member stock options
 
1 
Proceeds from long-term borrowings
 
999 
Proceeds from revolving line of credit
 
300 
Payments on long-term debt and capital lease obligations
 
(302)
Other financing activities
 
(7)
Net cash provided by (used in) financing activities
(38)
319 
Effect of exchange rate changes on cash and cash equivalents
 
(1)
Net change in cash, cash equivalents, and restricted cash
2 
441 
Cash, cash equivalents, and restricted cash at beginning of period
473 
364 
Cash, cash equivalents, and restricted cash at end of period
475 
805 
Supplemental disclosure of cash flow information:
 
 
Federal and state income taxes paid
76 
137 
Interest paid
$ 26 
 
Basis of Presentation
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]
Basis of Presentation
The accompanying unaudited consolidated financial statements of Whole Foods Market, Inc. and its consolidated subsidiaries (collectively “Whole Foods Market,” “Company,” or “we”) have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial statements and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. The information included in this Form 10-Q should be read in conjunction with Management’s Discussion and Analysis and the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended September 25, 2016. In the opinion of management, the accompanying consolidated financial statements reflect all adjustments, consisting of normal recurring accruals, considered necessary for a fair presentation. Where appropriate, we have reclassified prior year financial statements to conform to current year presentation. Interim results are not necessarily indicative of results for any other interim period or for a full fiscal year. The Company reports its results of operations on a 52- or 53-week fiscal year ending on the last Sunday in September. The first fiscal quarter is 16 weeks, the second and third quarters each are 12 weeks, and the fourth quarter is 12 or 13 weeks. Fiscal years 2017 and 2016 are 52-week years. The Company has one operating segment and a single reportable segment, natural and organic foods supermarkets.

The following is a summary of percentage sales by geographic area for the periods indicated:
 
Sixteen weeks ended
 
January 15,
2017

January 17,
2016
Sales:
 
 
 
United States
97.1
%
 
97.1
%
Canada and United Kingdom
2.9

 
2.9

Total sales
100.0
%
 
100.0
%


The following is a summary of the percentage of net long-lived assets by geographic area as of the dates indicated:
 
January 15,
2017
 
September 25,
2016
Long-lived assets, net:
 

 
 
United States
97.5
%
 
97.5
%
Canada and United Kingdom
2.5

 
2.5

Total long-lived assets, net
100.0
%
 
100.0
%
Summary of Significant Accounting Policies
Significant Accounting Policies [Text Block]
Summary of Significant Accounting Policies
Recent Accounting Pronouncements
Effective September 26, 2016, the Company early adopted the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Update (“ASU”) No. 2016-18, “Statement of Cash Flows: Restricted Cash ,” which amends the Accounting Standards Codification Topic 230. The amendments, which require that a statement of cash flows explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash, were adopted on a retrospective basis. The adoption of these amendments did not have a significant effect on the Company’s financial statements.

The following table provides a brief description of recently issued accounting pronouncements that have not yet been adopted. Early adoption is permitted for all updates unless stated.

Standard
Description
Effective Date
Effect on financial statements and other significant matters
ASU No. 2017-04
Simplifying the Test for Goodwill Impairment (Topic 350)
The amendments eliminate Step 2 from the goodwill impairment test. Instead, an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value should be recognized; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Income tax effects from any tax deductible goodwill on the carrying amount of the reporting
unit when measuring the goodwill impairment loss should also be considered, if applicable. The amendments should be applied on a prospective basis.
First quarter of fiscal year ending September 27, 2020
We are currently evaluating the impact that the adoption of these provisions will have on the Company’s consolidated financial statements.
ASU No. 2016-13
Measurement of Credit Losses on Financial Instruments(Topic 326)
The amendments guide on reporting credit losses for assets held at amortized cost basis and available-for-sale debt securities. The amendments require a financial asset measured at amortized cost basis to be presented at the net amount expected to be collected. The amendments also require that credit losses on available-for-sale debt securities be presented as an allowance. The amendments should be applied on either a prospective transition or modified-retrospective approach depending on the subtopic.
First quarter of fiscal year ending September 29, 2021
We are currently evaluating the impact that the adoption of these provisions will have on the Company’s consolidated financial statements.
ASU No. 2016-09
Improvements to Employee Share-Based Payment Accounting (Topic 718)
The amendments aim to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, forfeitures, and certain classifications on the statement of cash flows. The amendments should be applied on either a prospective, retrospective, or modified-retrospective basis depending on the subtopic.
First quarter of fiscal year ending September 30, 2018
We are currently evaluating the impact that the adoption of these provisions will have on the Company’s consolidated financial statements.
ASU No. 2016-08
Principal versus Agent Considerations (Reporting Revenue Gross versus Net) (Topic 606)
The amendments, which do not change the core principle of the guidance in Topic 606, clarify the implementation guidance on principal versus agent considerations, including how an entity should identify the unit of accounting (i.e., the specified good or service) for the principal versus agent evaluation and how it should apply the control principle to certain types of arrangements, such as service transactions. The amendments may be applied on either a full or modified retrospective basis.
First quarter of fiscal year ending September 29, 2019
We are currently evaluating the impact that the adoption of these provisions will have on the Company’s consolidated financial statements.
ASU No. 2016-07
Simplifying the Transition to the Equity Method of Accounting (Topic 323)
The amendments eliminate the requirement to retroactively apply the equity method of accounting when an investment qualifies for the use of the equity method due to an increase in the level of ownership interest or degree of influence. The amendments should be applied on a prospective basis.
First quarter of fiscal year ending September 30, 2018
We do not expect the adoption of these provisions to have a significant impact on the Company’s consolidated financial statements.
 
 
 
 
Standard
Description
Effective Date
Effect on financial statements and other significant matters
ASU No. 2016-04
Recognition of Breakage for Certain Prepaid Stored-Value Products (a consensus of the Emerging Issues Task Force) (Subtopic 405-20)
The amendments require entities to recognize liabilities related to the sale of prepaid stored-value products redeemable for goods, services or cash as financial liabilities in the scope of ASC 405. Additionally, the new guidance amends ASC 405-20 to include a narrow scope exception requiring entities to recognize breakage for these liabilities in a way that is consistent with how gift card breakage will be recognized under the new revenue recognition standard. The amendments may be applied on either a full or modified retrospective basis.
First quarter of fiscal year ending September 29, 2019
We are currently evaluating the impact that the adoption of these provisions will have on the Company’s consolidated financial statements.
ASU No. 2016-02
Leases (Topic 842)
The amendments require lessees to recognize a right-of-use asset and lease liability for all leases with terms of more than 12 months. Recognition, measurement and presentation of expenses will depend on classification as a finance or operating lease. The amendments also require certain quantitative and qualitative disclosures. Accounting guidance for lessors is largely unchanged. The amendments should be applied on a modified retrospective basis.
First quarter of fiscal year ending September 27, 2020
The adoption of this ASU will result in a significant increase to the Company’s Consolidated Balance Sheets for lease liabilities and right-of-use assets, and the Company is currently evaluating the other effects of adoption of this ASU on its Consolidated Financial Statements.

ASU No. 2016-01
Recognition and Measurement of Financial Assets and Financial Liabilities (Subtopic 825-10)
The amendments address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The amendments should be applied by means of a cumulative-effect adjustment to the balance sheet in year of adoption. Early adoption is permitted for only certain amendments of the update.
First quarter of fiscal year ending September 29, 2019
We are currently evaluating the impact that the adoption of these provisions will have on the Company’s consolidated financial statements.
ASU No. 2015-17
Balance Sheet Classification of Deferred Taxes (Topic 740)
The amendments simplify the presentation of deferred income taxes by requiring that all deferred tax liabilities and assets be classified as noncurrent in the statement of financial position. The amendments may be applied on either a prospective or retrospective basis.
First quarter of fiscal year ending September 30, 2018
We do not expect the adoption of these provisions to have a significant impact on the Company’s consolidated financial statements.
ASU No. 2015-11
Simplifying the Measurement of Inventory (Topic 330)
The amendments, which apply to inventory that is measured using any method other than the last-in, first-out (LIFO) or retail inventory method, require that entities measure inventory at the lower of cost and net realizable value. The amendments should be applied on a prospective basis.
First quarter of fiscal year ending September 30, 2018
We do not expect the adoption of these provisions to have a significant impact on the Company’s consolidated financial statements.
ASU No. 2014-09
Revenue from Contracts with Customers (Topic 606)
The core principle of the new guidance is that an entity will recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Additionally, the guidance requires disclosures related to the nature, amount, timing, and uncertainty of revenue that is recognized. The amendments may be applied on either a full or modified retrospective basis.
First quarter of fiscal year ending September 29, 2019
We are currently evaluating the timing, method, and impact that the adoption of these provisions will have on the Company’s consolidated financial statements.
Fair Value Measurements
Fair Value Disclosures [Text Block]
Fair Value Measurements
The Company holds money market fund investments that are classified as cash equivalents that are measured at fair value on a recurring basis based on quoted prices in active markets for identical assets. The Company also holds available-for-sale securities that are valued using a series of multi-dimensional relational models and series of matrices with standard inputs obtained from readily available pricing sources and other observable market data, such as benchmark yields and base spread. Equity interests measured at fair value are based on quoted prices for similar assets in active markets.

The carrying amounts of accrued payroll, bonuses and other benefits due team members, and other accrued expenses approximate fair value because of their short maturities. Store closure reserves and estimated workers’ compensation claims are recorded at net present value to approximate fair value.

Assets Measured at Fair Value on a Recurring Basis
The Company held the following financial assets measured at fair value on a recurring basis based on the hierarchy levels indicated (in millions):
January 15, 2017
Level 1 Inputs
 
Level 2 Inputs
 
Level 3 Inputs
 
Total
Cash equivalents:
 
 
 
 
 
 
 
Money market fund
$
23

 
$
—

 
$
—

 
$
23

Marketable securities - available-for-sale:
 
 
 
 
 
 
 
Municipal bonds
—

 
31

 
—

 
31

Variable-rate demand notes
—

 
343

 
—

 
343

Total
$
23

 
$
374


$
—


$
397

September 25, 2016
Level 1 Inputs
 
Level 2 Inputs
 
Level 3 Inputs
 
Total
Cash equivalents:
 
 
 
 
 
 
 
Money market fund
$
62

 
$
—

 
$
—

 
$
62

Commercial paper
—

 
30

 
—

 
30

Municipal bonds
—

 
46

 
—

 
46

Marketable securities - available-for-sale:
 
 
 
 
 
 
 
Commercial paper
—

 
30

 
—

 
30

Municipal bonds
—

 
26

 
—

 
26

Variable rate demand notes
—

 
323

 
—

 
323

Total
$
62

 
$
455

 
$
—

 
$
517



The estimated fair value of the Company’s long-term debt is included in Note 8 “Long-Term Debt.”

Assets Measured at Fair Value on a Nonrecurring Basis
During the sixteen weeks ended January 15, 2017, the Company recorded fair value adjustments, based on hierarchy level 3 inputs, totaling approximately $34 million related to certain locations for which asset value exceeded expected future cash flows, which were primarily included in the “Relocation, store closure and lease termination cost” line item on the Consolidated Statement of Operations. These impairment charges reduced the carrying value of related long-term assets to an immaterial fair value.
Investments
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]
Investments
The Company holds investments primarily in marketable securities that are classified as short-term available-for-sale securities. The Company held the following investments at fair value as of the dates indicated (in millions):
 
January 15,
2017
 
September 25,
2016
Short-term marketable securities - available-for-sale:
 
 
 
Commercial paper
$
—

 
$
30

Municipal bonds
31

 
26

Variable rate demand notes
343

 
323

Total short-term marketable securities
$
374

 
$
379



Gross unrealized holding gains and losses were not material at January 15, 2017 or September 25, 2016. There were no available-for-sale securities in an unrealized loss position at January 15, 2017. Available-for-sale securities totaling approximately $33 million were in unrealized loss positions at September 25, 2016. The aggregate value of available-for-sale securities in a continuous unrealized loss position for greater than 12 months was not material at September 25, 2016. The Company did not recognize any other-than-temporary impairments during the sixteen weeks ended January 15, 2017 or fiscal year ended September 25, 2016. The average effective maturity of the Company’s short-term available-for-sale securities was less than one month at January 15, 2017 and September 25, 2016.

At January 15, 2017 and September 25, 2016, the Company held approximately $23 million and $19 million in equity interests which were accounted for using the cost method of accounting. Equity interests accounted for using the equity method were not material at January 15, 2017 or September 25, 2016.
Goodwill and Other Intangible Assets
Goodwill and Intangible Assets Disclosure [Text Block]
Goodwill and Other Intangible Assets
There were no additions or adjustments to goodwill during the sixteen weeks ended January 15, 2017 or January 17, 2016. Additions of other intangible assets were not material during the sixteen weeks ended January 15, 2017 or the same period of the prior fiscal year. The components of intangible assets as of the dates indicated were as follows (in millions):
 
January 15, 2017
 
September 25, 2016
 
Gross carrying
amount
 
Accumulated
amortization
 
Gross carrying
amount
 
Accumulated
amortization
Definite-lived contract-based
$
120

 
$
(57
)
 
$
120

 
$
(55
)
Indefinite-lived contract-based
9

 
 
 
9

 
 
Total
$
129

 
$
(57
)
 
$
129

 
$
(55
)


Amortization expense associated with intangible assets was not material during the sixteen weeks ended January 15, 2017 or the same period of the prior fiscal year. Future amortization expense associated with the net carrying amount of definite-lived intangible assets is estimated to be as follows (in millions):
Remainder of fiscal year 2017
$
4

Fiscal year 2018
5

Fiscal year 2019
5

Fiscal year 2020
5

Fiscal year 2021
4

Future fiscal years
40

Total
$
63

Store and Facility Closures
Restructuring and Related Activities Disclosure [Text Block]
Store and Facility Closures
During the sixteen weeks ended January 15, 2017, the Company announced plans to close nine stores and three commissary kitchens. The Company recorded non-cash charges of approximately $34 million to adjust the long-lived assets of these locations to fair value. These charges are included in the “Relocation, store closure and lease termination cost” line item on the Consolidated Statement of Operations. The Company expects to incur additional charges of approximately $30 million related to these closures in the second quarter of fiscal year 2017 largely relating to lease terminations.
Reserves for Closed Properties
Restructuring, Impairment, and Other Activities Disclosure [Text Block]
Reserves for Closed Properties
The following table provides a summary of activity in reserves for closed properties during the sixteen weeks ended January 15, 2017 and fiscal year ended September 25, 2016 (in millions):
 
January 15,
2017
 
September 25,
2016
Beginning balance
$
26

 
$
28

Additions
1

 
6

Usage
(2
)
 
(10
)
Adjustments
1

 
2

Ending balance
$
26

 
$
26

Long-Term Debt
Long-term Debt [Text Block]
Long-Term Debt
Credit Agreement
The Company’s revolving credit facility under a credit agreement dated as of November 2, 2015 (the “Credit Agreement”) provides for an unsecured revolving credit facility in the aggregate principal amount of $500 million, which may be increased from time to time by up to $250 million. The Credit Agreement also provides for a letter of credit subfacility of up to $250 million.

At January 15, 2017, the Company had no amounts outstanding under the credit facility. Commitment fees paid on undrawn amounts were not material during the sixteen weeks ended January 15, 2017. At January 15, 2017, the Company was in compliance with all applicable debt covenants.

During the sixteen weeks ended January 17, 2016, the Company borrowed and repaid $300 million under the Credit Agreement.

Senior Notes
The Company has outstanding $1.0 billion of senior notes (the “Notes”). The Notes bear interest at a fixed rate equal to 5.2% per year, payable semiannually, and mature on December 3, 2025. The effective interest rate of the Notes, which includes interest on the Notes and amortization of discount and issuance costs, is approximately 5.28%. At January 15, 2017, the Company was in compliance with all applicable debt covenants. The estimated fair value of the Notes at January 15, 2017, based on observable market prices (Level 2), exceeded the carrying value by approximately $70 million.

The Senior Notes issued on December 3, 2015 and Credit Agreement are fully and unconditionally guaranteed, jointly and severally, on an unsecured basis by certain wholly owned domestic subsidiaries of the Company (the “Guarantors”). For additional information regarding the Guarantors see Note 14, Guarantor Financial Statement Information. The components of long-term debt as of the dates indicated were as follows (in millions):
 
January 15,
2017
 
September 25,
2016
5.2% senior notes due 2025
$
1,000

 
$
1,000

Less: unamortized discount and debt issuance costs related to senior notes
(7
)
 
(7
)
Carrying value of senior notes
993

 
993

Capital lease obligations
58

 
58

Total long-term debt and capital lease obligations
1,051

 
1,051

Less: current installments
(3
)
 
(3
)
Total long-term debt and capital lease obligations, less current installments
$
1,048

 
$
1,048

Income Taxes
Income Tax Disclosure [Text Block]
Income Taxes
Income taxes resulted in an effective tax rate of approximately 39.0% for the sixteen weeks ended January 15, 2017 compared to approximately 37.0% for the same period of the prior fiscal year. The lower effective tax rate for the sixteen weeks ended January 17, 2016 is due to the recognition of an environmental tax credit related to the development of a new store.
Shareholders' Equity
Stockholders' Equity Note Disclosure [Text Block]
Shareholders’ Equity
Dividends per Common Share
The following table provides a summary of dividends declared per common share during fiscal year 2017 to date and fiscal year 2016 (in millions, except per share amounts):
Date of declaration
Dividend per
common share
 
Date of record
 
Date of payment
 
Total amount
Fiscal year 2017:
 
 
 
 
 
 
 
November 2, 2016(1)
$
0.14

 
January 13, 2017
 
January 24, 2017
 
$
45

Fiscal year 2016:
 
 
 
 
 
 
 
November 4, 2015
$
0.135

 
January 15, 2016
 
January 26, 2016
 
$
44

March 9, 2016
0.135

 
April 8, 2016
 
April 19, 2016
 
44

June 7, 2016
0.135

 
July 1, 2016
 
July 12, 2016
 
43

September 22, 2016
0.135

 
October 3, 2016
 
October 14, 2016
 
43

(1) Dividend accrued at January 15, 2017

Treasury Stock
As of January 15, 2017, one share repurchase program remains in effect, with prior programs having been fully utilized, expired or cancelled. The following table outlines the share repurchase program authorized by the Company’s Board of Directors (“Board”), and the related repurchase activity as of January 15, 2017 (in millions):
Effective date
Expiration date
 
Amount authorized
 
Cost of repurchases
 
Authorization available
November 4, 2015
Not applicable
 
$
1,000

 
$
557

 
$
443



Share repurchase activity for the sixteen weeks ended January 15, 2017 was immaterial. Share repurchase activity for the sixteen weeks ended January 17, 2016 was as follows (in millions, except per share amounts):
 
 
 
January 17,
2016
Number of common shares acquired
21.2

Average price per common share acquired
$
29.96

Total cost of common shares acquired
$
634



The Company reissued approximately 0.2 million treasury shares at cost of approximately $8 million and approximately 0.3 million treasury shares at cost of approximately $11 million to satisfy the issuance of common stock pursuant to team member stock plans during the sixteen weeks ended January 15, 2017 and January 17, 2016, respectively. At January 15, 2017 and September 25, 2016, the Company held in treasury approximately 58.5 million shares and 58.7 million shares, respectively, totaling approximately $2.0 billion.
Earnings per Share
Earnings Per Share [Text Block]
Earnings per Share
The computation of basic earnings per share is based on the number of weighted average common shares outstanding during the period. The computation of diluted earnings per share includes the dilutive effect of common stock equivalents consisting of incremental common shares deemed outstanding from the assumed exercise of stock options and the dilutive effect of restricted stock awards. A reconciliation of the numerators and denominators of the basic and diluted earnings per share calculations follows (in millions, except per share amounts):
 
Sixteen weeks ended
 
January 15,
2017
 
January 17,
2016
Net income
(numerator for basic and diluted earnings per share)
$
95

 
$
157

 
 
 
 
Weighted average common shares outstanding
(denominator for basic earnings per share)
318.2

 
337.0

Incremental common shares attributable to dilutive effect of share-based awards
0.5

 
1.2

Weighted average common shares outstanding and
potential additional common shares outstanding
(denominator for diluted earnings per share)
318.7

 
338.2

 
 
 
 
Basic earnings per share
$
0.30

 
$
0.47

 
 
 
 
Diluted earnings per share
$
0.30

 
$
0.46



The computation of diluted earnings per share for the sixteen weeks ended January 15, 2017 and January 17, 2016 does not include share-based awards to purchase approximately 24.5 million shares and 18.7 million shares of common stock, respectively, due to their antidilutive effect.
Share-Based Payments
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]
Share-Based Payments
Share-based payment expense, primarily included in the “Selling, general and administrative expenses” line item on the Consolidated Statements of Operations, totaled approximately $14 million during the sixteen weeks ended January 15, 2017, and totaled approximately $16 million for the same period of the prior fiscal year.

At January 15, 2017 and September 25, 2016, approximately 30.3 million shares and 29.8 million shares of the Company’s common stock, respectively, were available for future stock incentive grants. At January 15, 2017 and September 25, 2016, there was approximately $61 million and $73 million of unrecognized share-based payment expense, respectively, related to unvested stock options, net of estimated forfeitures, related to approximately 10.3 million shares and 10.5 million shares, respectively. The Company anticipates this expense to be recognized over a weighted average period of 2.7 years.
Commitments and Contingencies
Commitments and Contingencies Disclosure [Text Block]
Commitments and Contingencies
The Company is exposed to claims and litigation matters arising in the ordinary course of business and uses various methods to resolve these matters in a manner that we believe best serves the interests of our stakeholders. From time to time we are a party to legal proceedings including matters involving shareholder claims, personnel and employment issues, personal injury, product liability, protecting our intellectual property, regulatory practices, acquisitions and other proceedings arising in the ordinary course of business. These matters have not resulted in any material losses to date. Certain litigation cases have been certified as class or collective actions and may seek substantial damages.

Our primary contingencies are associated with insurance and self-insurance obligations and litigation matters. Additionally, the Company has retention agreements with certain members of Company management which provide for payments under certain circumstances including change of control. Estimation of our insurance and self-insurance liabilities requires significant judgments, and actual claim settlements and associated expenses may differ from our current provisions for loss. We have exposures to loss contingencies arising from pending or threatened litigation for which assessing and estimating the outcomes of these matters involve substantial uncertainties.

The Company evaluates contingencies on an ongoing basis and has established loss provisions for matters in which losses are probable and the amount of loss can be reasonably estimated, and is not currently a party to any legal proceeding that management believes could have a material adverse effect on our results of operations. Insurance and legal settlement liabilities are included in the “Other current liabilities” line item on the Consolidated Balance Sheets. We believe the recorded reserves in our consolidated financial statements are adequate in light of the probable and estimable liabilities.
Guarantor Financial Statements
Guarantor Financial Statements [Text Block]
Guarantor Financial Statement Information
The Senior Notes issued on December 3, 2015 and Credit Agreement are fully and unconditionally guaranteed, jointly and severally, on an unsecured, unsubordinated basis by certain wholly owned domestic subsidiaries of the Company (the “Guarantors”). Supplemental condensed consolidating financial information of the Company, including such information for the Guarantors is presented below:
Consolidated Balance Sheets (unaudited)
(In millions)

 
January 15, 2017
Assets
Parent/Issuer
Guarantor Subsidiaries
Non-guarantor Subsidiaries
Eliminations
Consolidated Total
Current assets:
 
 
 
 
 
Cash and cash equivalents
$
—

$
252

$
98

$
—

$
350

Short-term investments - available-for-sale securities
—

374

—

—

374

Restricted cash
—

118

7

—

125

Accounts receivable
—

229

22

—

251

Intercompany receivable
—

695

—

(695
)
—

Merchandise inventories
—

467

87

—

554

Prepaid expenses and other current assets
—

106

17

—

123

Deferred income taxes
—

210

—

—

210

Total current assets
—

2,451

231

(695
)
1,987

Property and equipment, net of accumulated depreciation and amortization
—

3,075

385

—

3,460

Investments in consolidated subsidiaries
4,695

105

474

(5,274
)
—

Goodwill
—

703

7

—

710

Intangible assets, net of accumulated amortization
1

62

9

—

72

Deferred income taxes
—

105

6

—

111

Other assets
—

15

27

—

42

Total assets
$
4,696

$
6,516

$
1,139

$
(5,969
)
$
6,382

 
 
 
 
 
 
Liabilities and Shareholders’ Equity
 
 
 
 
 
Current liabilities:
 
 
 
 
 
Current installments of long-term debt and capital lease obligations
$
—

$
3

$
—

$
—

$
3

Accounts payable
—

209

79

—

288

Intercompany payable
360

—

335

(695
)
—

Accrued payroll, bonus and other benefits due team members
—

395

26

—

421

Dividends payable
45

—

—

—

45

Other current liabilities
6

500

37

—

543

Total current liabilities
411

1,107

477

(695
)
1,300

Long-term debt and capital lease obligations, less current installments
993

48

7

—

1,048

Deferred lease liabilities
—

603

50

—

653

Other long-term liabilities
—

88

1

—

89

Total liabilities
1,404

1,846

535

(695
)
3,090

 
 
 
 
 
 
Commitments and contingencies










 
 
 
 
 
 
Total shareholders’ equity
3,292

4,670

604

(5,274
)
3,292

Total liabilities and shareholders’ equity
$
4,696

$
6,516

$
1,139

$
(5,969
)
$
6,382

Consolidated Balance Sheets (unaudited)
(In millions)

 
September 25, 2016
Assets
Parent/Issuer
Guarantor Subsidiaries
Non-guarantor Subsidiaries
Eliminations
Consolidated Total
Current assets:
 
 
 
 
 
Cash and cash equivalents
$
—

$
254

$
97

$
—

$
351

Short-term investments - available-for-sale securities
—

379

—

—

379

Restricted cash
—

114

8

—

122

Accounts receivable
—

216

26

—

242

Intercompany receivable
—

649

—

(649
)
—

Merchandise inventories
—

441

76

—

517

Prepaid expenses and other current assets
—

150

17

—

167

Deferred income taxes
—

197

—

—

197

Total current assets
—

2,400

224

(649
)
1,975

Property and equipment, net of accumulated depreciation and amortization
—

3,063

379

—

3,442

Investments in consolidated subsidiaries
4,593

103

472

(5,168
)
—

Goodwill
—

702

8

—

710

Intangible assets, net of accumulated amortization
1

63

10

—

74

Deferred income taxes
—

94

6

—

100

Other assets
—

16

24

—

40

Total assets
$
4,594

$
6,441

$
1,123

$
(5,817
)
$
6,341

 
 
 
 
 
 
Liabilities and Shareholders’ Equity
 
 
 
 
 
Current liabilities:
 
 
 
 
 
Current installments of long-term debt and capital lease obligations
$
—

$
3

$
—

$
—

$
3

Accounts payable
—

227

80

—

307

Intercompany payable
317

—

333

(650
)
—

Accrued payroll, bonus and other benefits due team members
—

381

26

—

407

Dividends payable
43

—

—

—

43

Other current liabilities
17

536

28

—

581

Total current liabilities
377

1,147

467

(650
)
1,341

Long-term debt and capital lease obligations, less current installments
993

48

7

—

1,048

Deferred lease liabilities
—

592

48

—

640

Other long-term liabilities
—

87

1

—

88

Total liabilities
1,370

1,874

523

(650
)
3,117

 
 
 
 
 
 
Commitments and contingencies










 
 
 
 
 
 
Total shareholders’ equity
3,224

4,567

600

(5,167
)
3,224

Total liabilities and shareholders’ equity
$
4,594

$
6,441

$
1,123

$
(5,817
)
$
6,341


Consolidated Statements of Operations (unaudited)
(In millions)

 
Sixteen weeks ended January 15, 2017
 
Parent/Issuer
Guarantor Subsidiaries
Non-guarantor Subsidiaries
Eliminations
Consolidated Total
Sales
$
—

$
4,672

$
314

$
(68
)
$
4,918

Cost of goods sold and occupancy costs
—

3,110

224

(66
)
3,268

Gross profit
—

1,562

90

(2
)
1,650

Selling, general and administrative expenses
—

1,337

80

—

1,417

Pre-opening expenses
—

18

3

—

21

Relocation, store closure and lease termination costs
—

40

1

—

41

Operating income
—

167

6

(2
)
171

Interest expense
(15
)
—

—

—

(15
)
Investment and other expense
—

—

(1
)
1

—

Equity in net income of subsidiaries
104

2

1

(107
)
—

Income before income taxes
89

169

6

(108
)
156

Provision for income taxes
(6
)
65

2

—

61

Net income
$
95

$
104

$
4

$
(108
)
$
95


 
Sixteen weeks ended January 17, 2016
 
Parent/Issuer
Guarantor Subsidiaries
Non-guarantor Subsidiaries
Eliminations
Consolidated Total
Sales
$
—

$
4,584

$
289

$
(44
)
$
4,829

Cost of goods sold and occupancy costs
—

3,029

202

(43
)
3,188

Gross profit
—

1,555

87

(1
)
1,641

Selling, general and administrative expenses
—

1,294

79

—

1,373

Pre-opening expenses
—

10

3

—

13

Relocation, store closure and lease termination costs
—

3

—

—

3

Operating income
—

248

5

(1
)
252

Interest expense
(7
)
—

—

—

(7
)
Investment and other income (expense)
—

5

(2
)
1

4

Equity in net income of subsidiaries
161

3

6

(170
)
—

Income before income taxes
154

256

9

(170
)
249

Provision for income taxes
(3
)
93

2

—

92

Net income
$
157

$
163

$
7

$
(170
)
$
157


Consolidated Statements of Comprehensive Income (unaudited)
(In millions)

 
Sixteen weeks ended January 15, 2017
 
Parent/Issuer
Guarantor Subsidiaries
Non-guarantor Subsidiaries
Eliminations
Consolidated Total
Net income
$
95

$
104

$
4

$
(108
)
$
95

Other comprehensive income (loss), net of tax:
 
 
 
 
 
Foreign currency translation adjustments
—

(4
)
3

—

(1
)
Other comprehensive income (loss), net of tax
—

(4
)
3

—

(1
)
Comprehensive income
$
95

$
100

$
7

$
(108
)
$
94


 
Sixteen weeks ended January 17, 2016
 
Parent/Issuer
Guarantor Subsidiaries
Non-guarantor Subsidiaries
Eliminations
Consolidated Total
Net income
$
157

$
163

$
7

$
(170
)
$
157

Other comprehensive income (loss), net of tax:
 
 
 
 
 
Foreign currency translation adjustments
—

4

(14
)
—

(10
)
Other comprehensive income (loss), net of tax
—

4

(14
)
—

(10
)
Comprehensive income (loss)
$
157

$
167

$
(7
)
$
(170
)
$
147



Condensed Consolidated Statements of Cash Flows (unaudited)
(In millions)

 
January 15, 2017
 
Parent/Issuer
Guarantor Subsidiaries
Non-guarantor Subsidiaries
Eliminations
Consolidated Total
Net cash provided by (used in) operating activities
$
(26
)
$
293

$
17

$
—

$
284

Cash flows from investing activities
 
 
 
 
 
Purchases of property, plant and equipment
—

(226
)
(19
)
—

(245
)
Purchases of available-for-sale securities
—

(200
)
—

—

(200
)
Sales and maturities of available-for-sale securities
—

205

—

—

205

Payment for purchase of acquired entities, net of cash acquired
—

—

—

—

—

Intercompany activity
64

—

—

(64
)
—

Other investing activities
—

(4
)
—

—

(4
)
Net cash provided by (used in) investing activities
64

(225
)
(19
)
(64
)
(244
)
Cash flows from financing activities
 
 
 
 
 
Purchases of treasury stock
—

—

—

—

—

Common stock dividends paid
(43
)
—

—

—

(43
)
Issuance of common stock
5

—

—

—

5

Excess tax benefit related to exercise of team member stock options
—

—

—

—

—

Proceeds from long-term borrowings
—

—

—

—

—

Proceed for revolving line of credit
—

—

—

—

—

Payments on long-term debt and capital lease obligations
—

—

—

—

—

Intercompany activity
—

(66
)
2

64

—

Other financing activities
—

—

—

—

—

Net cash provided by (used in) financing activities
(38
)
(66
)
2

64

(38
)
Effect of exchange rate changes on cash and cash equivalents
—

—

—

—

—

Net change in cash, cash equivalents, and restricted cash
—

2

—

—

2

Cash, cash equivalents, and restricted cash at beginning of period
—

368

105

—

473

Cash, cash equivalents, and restricted cash at end of period
$
—

$
370

$
105

$
—

$
475


Condensed Consolidated Statements of Cash Flows (unaudited)
(In millions)

 
January 17, 2016
 
Parent/Issuer
Guarantor Subsidiaries
Non-guarantor Subsidiaries
Eliminations
Consolidated Total
Net cash provided by operating activities
$
—

$
219

$
13

$
—

$
232

Cash flows from investing activities
 
 
 
 
 
Purchases of property, plant and equipment
—

(156
)
(23
)
—

(179
)
Purchases of available-for-sale securities
—

(133
)
—

—

(133
)
Sales and maturities of available-for-sale securities
—

220

—

—

220

Payment for purchase of acquired entities, net of cash acquired
—

—

(11
)
—

(11
)
Intercompany activity
(319
)
—

—

319

—

Other investing activities
—

(6
)
—

—

(6
)
Net cash used in investing activities
(319
)
(75
)
(34
)
319

(109
)
Cash flows from financing activities
 
 
 
 
 
Purchases of treasury stock
(634
)
—

—

—

(634
)
Common stock dividends paid
(45
)
—

—

—

(45
)
Issuance of common stock
7

—

—

—

7

Excess tax benefit related to exercise of team member stock options
1

—

—

—

1

Proceeds from long-term borrowings
999

—

—

—

999

Proceeds from revolving line of credit
300

—

—

—

300

Payments on long-term debt and capital lease obligations
(302
)
—

—

—

(302
)
Intercompany activity
—

305

14

(319
)
—

Other financing activities
(7
)
—

—

—

(7
)
Net cash provided by financing activities
319

305

14

(319
)
319

Effect of exchange rate changes on cash and cash equivalents
—

—

(1
)
—

(1
)
Net change in cash, cash equivalents, and restricted cash
—

449

(8
)
—

441

Cash, cash equivalents, and restricted cash at beginning of period
—

261

103

—

364

Cash, cash equivalents, and restricted cash at end of period
$
—

$
710

$
95

$
—

$
805

Summary of Significant Accounting Policies (Policies)
Fiscal Period, Policy [Policy Text Block] 
The Company reports its results of operations on a 52- or 53-week fiscal year ending on the last Sunday in September. The first fiscal quarter is 16 weeks, the second and third quarters each are 12 weeks, and the fourth quarter is 12 or 13 weeks. Fiscal years 2017 and 2016 are 52-week years.
New Accounting Pronouncements, Policy [Policy Text Block] 
The following table provides a brief description of recently issued accounting pronouncements that have not yet been adopted. Early adoption is permitted for all updates unless stated.

Standard
Description
Effective Date
Effect on financial statements and other significant matters
ASU No. 2017-04
Simplifying the Test for Goodwill Impairment (Topic 350)
The amendments eliminate Step 2 from the goodwill impairment test. Instead, an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value should be recognized; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Income tax effects from any tax deductible goodwill on the carrying amount of the reporting
unit when measuring the goodwill impairment loss should also be considered, if applicable. The amendments should be applied on a prospective basis.
First quarter of fiscal year ending September 27, 2020
We are currently evaluating the impact that the adoption of these provisions will have on the Company’s consolidated financial statements.
ASU No. 2016-13
Measurement of Credit Losses on Financial Instruments(Topic 326)
The amendments guide on reporting credit losses for assets held at amortized cost basis and available-for-sale debt securities. The amendments require a financial asset measured at amortized cost basis to be presented at the net amount expected to be collected. The amendments also require that credit losses on available-for-sale debt securities be presented as an allowance. The amendments should be applied on either a prospective transition or modified-retrospective approach depending on the subtopic.
First quarter of fiscal year ending September 29, 2021
We are currently evaluating the impact that the adoption of these provisions will have on the Company’s consolidated financial statements.
ASU No. 2016-09
Improvements to Employee Share-Based Payment Accounting (Topic 718)
The amendments aim to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, forfeitures, and certain classifications on the statement of cash flows. The amendments should be applied on either a prospective, retrospective, or modified-retrospective basis depending on the subtopic.
First quarter of fiscal year ending September 30, 2018
We are currently evaluating the impact that the adoption of these provisions will have on the Company’s consolidated financial statements.
ASU No. 2016-08
Principal versus Agent Considerations (Reporting Revenue Gross versus Net) (Topic 606)
The amendments, which do not change the core principle of the guidance in Topic 606, clarify the implementation guidance on principal versus agent considerations, including how an entity should identify the unit of accounting (i.e., the specified good or service) for the principal versus agent evaluation and how it should apply the control principle to certain types of arrangements, such as service transactions. The amendments may be applied on either a full or modified retrospective basis.
First quarter of fiscal year ending September 29, 2019
We are currently evaluating the impact that the adoption of these provisions will have on the Company’s consolidated financial statements.
ASU No. 2016-07
Simplifying the Transition to the Equity Method of Accounting (Topic 323)
The amendments eliminate the requirement to retroactively apply the equity method of accounting when an investment qualifies for the use of the equity method due to an increase in the level of ownership interest or degree of influence. The amendments should be applied on a prospective basis.
First quarter of fiscal year ending September 30, 2018
We do not expect the adoption of these provisions to have a significant impact on the Company’s consolidated financial statements.
 
 
 
 
Standard
Description
Effective Date
Effect on financial statements and other significant matters
ASU No. 2016-04
Recognition of Breakage for Certain Prepaid Stored-Value Products (a consensus of the Emerging Issues Task Force) (Subtopic 405-20)
The amendments require entities to recognize liabilities related to the sale of prepaid stored-value products redeemable for goods, services or cash as financial liabilities in the scope of ASC 405. Additionally, the new guidance amends ASC 405-20 to include a narrow scope exception requiring entities to recognize breakage for these liabilities in a way that is consistent with how gift card breakage will be recognized under the new revenue recognition standard. The amendments may be applied on either a full or modified retrospective basis.
First quarter of fiscal year ending September 29, 2019
We are currently evaluating the impact that the adoption of these provisions will have on the Company’s consolidated financial statements.
ASU No. 2016-02
Leases (Topic 842)
The amendments require lessees to recognize a right-of-use asset and lease liability for all leases with terms of more than 12 months. Recognition, measurement and presentation of expenses will depend on classification as a finance or operating lease. The amendments also require certain quantitative and qualitative disclosures. Accounting guidance for lessors is largely unchanged. The amendments should be applied on a modified retrospective basis.
First quarter of fiscal year ending September 27, 2020
The adoption of this ASU will result in a significant increase to the Company’s Consolidated Balance Sheets for lease liabilities and right-of-use assets, and the Company is currently evaluating the other effects of adoption of this ASU on its Consolidated Financial Statements.

ASU No. 2016-01
Recognition and Measurement of Financial Assets and Financial Liabilities (Subtopic 825-10)
The amendments address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The amendments should be applied by means of a cumulative-effect adjustment to the balance sheet in year of adoption. Early adoption is permitted for only certain amendments of the update.
First quarter of fiscal year ending September 29, 2019
We are currently evaluating the impact that the adoption of these provisions will have on the Company’s consolidated financial statements.
ASU No. 2015-17
Balance Sheet Classification of Deferred Taxes (Topic 740)
The amendments simplify the presentation of deferred income taxes by requiring that all deferred tax liabilities and assets be classified as noncurrent in the statement of financial position. The amendments may be applied on either a prospective or retrospective basis.
First quarter of fiscal year ending September 30, 2018
We do not expect the adoption of these provisions to have a significant impact on the Company’s consolidated financial statements.
ASU No. 2015-11
Simplifying the Measurement of Inventory (Topic 330)
The amendments, which apply to inventory that is measured using any method other than the last-in, first-out (LIFO) or retail inventory method, require that entities measure inventory at the lower of cost and net realizable value. The amendments should be applied on a prospective basis.
First quarter of fiscal year ending September 30, 2018
We do not expect the adoption of these provisions to have a significant impact on the Company’s consolidated financial statements.
ASU No. 2014-09
Revenue from Contracts with Customers (Topic 606)
The core principle of the new guidance is that an entity will recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Additionally, the guidance requires disclosures related to the nature, amount, timing, and uncertainty of revenue that is recognized. The amendments may be applied on either a full or modified retrospective basis.
First quarter of fiscal year ending September 29, 2019
We are currently evaluating the timing, method, and impact that the adoption of these provisions will have on the Company’s consolidated financial statements.
Earnings Per Share, Policy [Policy Text Block] 
The computation of basic earnings per share is based on the number of weighted average common shares outstanding during the period. The computation of diluted earnings per share includes the dilutive effect of common stock equivalents consisting of incremental common shares deemed outstanding from the assumed exercise of stock options and the dilutive effect of restricted stock awards.
Basis of Presentation (Tables)
Schedule of Entity Wide Information Geographic Area Revenue [Table Text Block] 
The following is a summary of percentage sales by geographic area for the periods indicated:
 
Sixteen weeks ended
 
January 15,
2017

January 17,
2016
Sales:
 
 
 
United States
97.1
%
 
97.1
%
Canada and United Kingdom
2.9

 
2.9

Total sales
100.0
%
 
100.0
%
Schedule of Entity Wide Information Geographic Area Long-Lived Assets [Table Text Block] 
The following is a summary of the percentage of net long-lived assets by geographic area as of the dates indicated:
 
January 15,
2017
 
September 25,
2016
Long-lived assets, net:
 

 
 
United States
97.5
%
 
97.5
%
Canada and United Kingdom
2.5

 
2.5

Total long-lived assets, net
100.0
%
 
100.0
%
Fair Value Measurements (Tables)
Fair Value, Assets Measured on Recurring Basis [Table Text Block]
The Company held the following financial assets measured at fair value on a recurring basis based on the hierarchy levels indicated (in millions):
January 15, 2017
Level 1 Inputs
 
Level 2 Inputs
 
Level 3 Inputs
 
Total
Cash equivalents:
 
 
 
 
 
 
 
Money market fund
$
23

 
$
—

 
$
—

 
$
23

Marketable securities - available-for-sale:
 
 
 
 
 
 
 
Municipal bonds
—

 
31

 
—

 
31

Variable-rate demand notes
—

 
343

 
—

 
343

Total
$
23

 
$
374


$
—


$
397

September 25, 2016
Level 1 Inputs
 
Level 2 Inputs
 
Level 3 Inputs
 
Total
Cash equivalents:
 
 
 
 
 
 
 
Money market fund
$
62

 
$
—

 
$
—

 
$
62

Commercial paper
—

 
30

 
—

 
30

Municipal bonds
—

 
46

 
—

 
46

Marketable securities - available-for-sale:
 
 
 
 
 
 
 
Commercial paper
—

 
30

 
—

 
30

Municipal bonds
—

 
26

 
—

 
26

Variable rate demand notes
—

 
323

 
—

 
323

Total
$
62

 
$
455

 
$
—

 
$
517

Investments (Tables)
Marketable Securities [Table Text Block]
The Company held the following investments at fair value as of the dates indicated (in millions):
 
January 15,
2017
 
September 25,
2016
Short-term marketable securities - available-for-sale:
 
 
 
Commercial paper
$
—

 
$
30

Municipal bonds
31

 
26

Variable rate demand notes
343

 
323

Total short-term marketable securities
$
374

 
$
379

Goodwill and Other Intangible Assets (Tables)
Schedule of Finite-Lived And Indefinite-Lived Intangible Assets by Major Class [Table Text Block] 
The components of intangible assets as of the dates indicated were as follows (in millions):
 
January 15, 2017
 
September 25, 2016
 
Gross carrying
amount
 
Accumulated
amortization
 
Gross carrying
amount
 
Accumulated
amortization
Definite-lived contract-based
$
120

 
$
(57
)
 
$
120

 
$
(55
)
Indefinite-lived contract-based
9

 
 
 
9

 
 
Total
$
129

 
$
(57
)
 
$
129

 
$
(55
)
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] 
Future amortization expense associated with the net carrying amount of definite-lived intangible assets is estimated to be as follows (in millions):
Remainder of fiscal year 2017
$
4

Fiscal year 2018
5

Fiscal year 2019
5

Fiscal year 2020
5

Fiscal year 2021
4

Future fiscal years
40

Total
$
63

Reserves for Closed Properties (Tables)
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]
The following table provides a summary of activity in reserves for closed properties during the sixteen weeks ended January 15, 2017 and fiscal year ended September 25, 2016 (in millions):
 
January 15,
2017
 
September 25,
2016
Beginning balance
$
26

 
$
28

Additions
1

 
6

Usage
(2
)
 
(10
)
Adjustments
1

 
2

Ending balance
$
26

 
$
26

Long-Term Debt (Tables)
Schedule of Long-term Debt Instruments [Table Text Block]
The components of long-term debt as of the dates indicated were as follows (in millions):
 
January 15,
2017
 
September 25,
2016
5.2% senior notes due 2025
$
1,000

 
$
1,000

Less: unamortized discount and debt issuance costs related to senior notes
(7
)
 
(7
)
Carrying value of senior notes
993

 
993

Capital lease obligations
58

 
58

Total long-term debt and capital lease obligations
1,051

 
1,051

Less: current installments
(3
)
 
(3
)
Total long-term debt and capital lease obligations, less current installments
$
1,048

 
$
1,048

Shareholders' Equity (Tables)
Dividends Declared [Table Text Block] 
The following table provides a summary of dividends declared per common share during fiscal year 2017 to date and fiscal year 2016 (in millions, except per share amounts):
Date of declaration
Dividend per
common share
 
Date of record
 
Date of payment
 
Total amount
Fiscal year 2017:
 
 
 
 
 
 
 
November 2, 2016(1)
$
0.14

 
January 13, 2017
 
January 24, 2017
 
$
45

Fiscal year 2016:
 
 
 
 
 
 
 
November 4, 2015
$
0.135

 
January 15, 2016
 
January 26, 2016
 
$
44

March 9, 2016
0.135

 
April 8, 2016
 
April 19, 2016
 
44

June 7, 2016
0.135

 
July 1, 2016
 
July 12, 2016
 
43

September 22, 2016
0.135

 
October 3, 2016
 
October 14, 2016
 
43

(1) Dividend accrued at January 15, 2017
Schedule of Share Repurchase Programs [Table Text Block] 
The following table outlines the share repurchase program authorized by the Company’s Board of Directors (“Board”), and the related repurchase activity as of January 15, 2017 (in millions):
Effective date
Expiration date
 
Amount authorized
 
Cost of repurchases
 
Authorization available
November 4, 2015
Not applicable
 
$
1,000

 
$
557

 
$
443



Schedule of Shares Repurchased [Table Text Block] 
Share repurchase activity for the sixteen weeks ended January 15, 2017 was immaterial. Share repurchase activity for the sixteen weeks ended January 17, 2016 was as follows (in millions, except per share amounts):
 
 
 
January 17,
2016
Number of common shares acquired
21.2

Average price per common share acquired
$
29.96

Total cost of common shares acquired
$
634

Earnings per Share (Tables)
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
A reconciliation of the numerators and denominators of the basic and diluted earnings per share calculations follows (in millions, except per share amounts):
 
Sixteen weeks ended
 
January 15,
2017
 
January 17,
2016
Net income
(numerator for basic and diluted earnings per share)
$
95

 
$
157

 
 
 
 
Weighted average common shares outstanding
(denominator for basic earnings per share)
318.2

 
337.0

Incremental common shares attributable to dilutive effect of share-based awards
0.5

 
1.2

Weighted average common shares outstanding and
potential additional common shares outstanding
(denominator for diluted earnings per share)
318.7

 
338.2

 
 
 
 
Basic earnings per share
$
0.30

 
$
0.47

 
 
 
 
Diluted earnings per share
$
0.30

 
$
0.46

Guarantor Financial Statements (Tables)
Consolidated Statements of Balance Sheets with Guarantor Information [Table Text Block] 
Consolidated Balance Sheets (unaudited)
(In millions)

 
January 15, 2017
Assets
Parent/Issuer
Guarantor Subsidiaries
Non-guarantor Subsidiaries
Eliminations
Consolidated Total
Current assets:
 
 
 
 
 
Cash and cash equivalents
$
—

$
252

$
98

$
—

$
350

Short-term investments - available-for-sale securities
—

374

—

—

374

Restricted cash
—

118

7

—

125

Accounts receivable
—

229

22

—

251

Intercompany receivable
—

695

—

(695
)
—

Merchandise inventories
—

467

87

—

554

Prepaid expenses and other current assets
—

106

17

—

123

Deferred income taxes
—

210

—

—

210

Total current assets
—

2,451

231

(695
)
1,987

Property and equipment, net of accumulated depreciation and amortization
—

3,075

385

—

3,460

Investments in consolidated subsidiaries
4,695

105

474

(5,274
)
—

Goodwill
—

703

7

—

710

Intangible assets, net of accumulated amortization
1

62

9

—

72

Deferred income taxes
—

105

6

—

111

Other assets
—

15

27

—

42

Total assets
$
4,696

$
6,516

$
1,139

$
(5,969
)
$
6,382

 
 
 
 
 
 
Liabilities and Shareholders’ Equity
 
 
 
 
 
Current liabilities:
 
 
 
 
 
Current installments of long-term debt and capital lease obligations
$
—

$
3

$
—

$
—

$
3

Accounts payable
—

209

79

—

288

Intercompany payable
360

—

335

(695
)
—

Accrued payroll, bonus and other benefits due team members
—

395

26

—

421

Dividends payable
45

—

—

—

45

Other current liabilities
6

500

37

—

543

Total current liabilities
411

1,107

477

(695
)
1,300

Long-term debt and capital lease obligations, less current installments
993

48

7

—

1,048

Deferred lease liabilities
—

603

50

—

653

Other long-term liabilities
—

88

1

—

89

Total liabilities
1,404

1,846

535

(695
)
3,090

 
 
 
 
 
 
Commitments and contingencies










 
 
 
 
 
 
Total shareholders’ equity
3,292

4,670

604

(5,274
)
3,292

Total liabilities and shareholders’ equity
$
4,696

$
6,516

$
1,139

$
(5,969
)
$
6,382

Consolidated Balance Sheets (unaudited)
(In millions)

 
September 25, 2016
Assets
Parent/Issuer
Guarantor Subsidiaries
Non-guarantor Subsidiaries
Eliminations
Consolidated Total
Current assets:
 
 
 
 
 
Cash and cash equivalents
$
—

$
254

$
97

$
—

$
351

Short-term investments - available-for-sale securities
—

379

—

—

379

Restricted cash
—

114

8

—

122

Accounts receivable
—

216

26

—

242

Intercompany receivable
—

649

—

(649
)
—

Merchandise inventories
—

441

76

—

517

Prepaid expenses and other current assets
—

150

17

—

167

Deferred income taxes
—

197

—

—

197

Total current assets
—

2,400

224

(649
)
1,975

Property and equipment, net of accumulated depreciation and amortization
—

3,063

379

—

3,442

Investments in consolidated subsidiaries
4,593

103

472

(5,168
)
—

Goodwill
—

702

8

—

710

Intangible assets, net of accumulated amortization
1

63

10

—

74

Deferred income taxes
—

94

6

—

100

Other assets
—

16

24

—

40

Total assets
$
4,594

$
6,441

$
1,123

$
(5,817
)
$
6,341

 
 
 
 
 
 
Liabilities and Shareholders’ Equity
 
 
 
 
 
Current liabilities:
 
 
 
 
 
Current installments of long-term debt and capital lease obligations
$
—

$
3

$
—

$
—

$
3

Accounts payable
—

227

80

—

307

Intercompany payable
317

—

333

(650
)
—

Accrued payroll, bonus and other benefits due team members
—

381

26

—

407

Dividends payable
43

—

—

—

43

Other current liabilities
17

536

28

—

581

Total current liabilities
377

1,147

467

(650
)
1,341

Long-term debt and capital lease obligations, less current installments
993

48

7

—

1,048

Deferred lease liabilities
—

592

48

—

640

Other long-term liabilities
—

87

1

—

88

Total liabilities
1,370

1,874

523

(650
)
3,117

 
 
 
 
 
 
Commitments and contingencies










 
 
 
 
 
 
Total shareholders’ equity
3,224

4,567

600

(5,167
)
3,224

Total liabilities and shareholders’ equity
$
4,594

$
6,441

$
1,123

$
(5,817
)
$
6,341

Consolidated Statements of Operations with Guarantor Information [Table Text Block] 
Consolidated Statements of Operations (unaudited)
(In millions)

 
Sixteen weeks ended January 15, 2017
 
Parent/Issuer
Guarantor Subsidiaries
Non-guarantor Subsidiaries
Eliminations
Consolidated Total
Sales
$
—

$
4,672

$
314

$
(68
)
$
4,918

Cost of goods sold and occupancy costs
—

3,110

224

(66
)
3,268

Gross profit
—

1,562

90

(2
)
1,650

Selling, general and administrative expenses
—

1,337

80

—

1,417

Pre-opening expenses
—

18

3

—

21

Relocation, store closure and lease termination costs
—

40

1

—

41

Operating income
—

167

6

(2
)
171

Interest expense
(15
)
—

—

—

(15
)
Investment and other expense
—

—

(1
)
1

—

Equity in net income of subsidiaries
104

2

1

(107
)
—

Income before income taxes
89

169

6

(108
)
156

Provision for income taxes
(6
)
65

2

—

61

Net income
$
95

$
104

$
4

$
(108
)
$
95


 
Sixteen weeks ended January 17, 2016
 
Parent/Issuer
Guarantor Subsidiaries
Non-guarantor Subsidiaries
Eliminations
Consolidated Total
Sales
$
—

$
4,584

$
289

$
(44
)
$
4,829

Cost of goods sold and occupancy costs
—

3,029

202

(43
)
3,188

Gross profit
—

1,555

87

(1
)
1,641

Selling, general and administrative expenses
—

1,294

79

—

1,373

Pre-opening expenses
—

10

3

—

13

Relocation, store closure and lease termination costs
—

3

—

—

3

Operating income
—

248

5

(1
)
252

Interest expense
(7
)
—

—

—

(7
)
Investment and other income (expense)
—

5

(2
)
1

4

Equity in net income of subsidiaries
161

3

6

(170
)
—

Income before income taxes
154

256

9

(170
)
249

Provision for income taxes
(3
)
93

2

—

92

Net income
$
157

$
163

$
7

$
(170
)
$
157

Consolidated Statements of Comprehensive Income with Guarantor Information [Table Text Block] 
Consolidated Statements of Comprehensive Income (unaudited)
(In millions)

 
Sixteen weeks ended January 15, 2017
 
Parent/Issuer
Guarantor Subsidiaries
Non-guarantor Subsidiaries
Eliminations
Consolidated Total
Net income
$
95

$
104

$
4

$
(108
)
$
95

Other comprehensive income (loss), net of tax:
 
 
 
 
 
Foreign currency translation adjustments
—

(4
)
3

—

(1
)
Other comprehensive income (loss), net of tax
—

(4
)
3

—

(1
)
Comprehensive income
$
95

$
100

$
7

$
(108
)
$
94


 
Sixteen weeks ended January 17, 2016
 
Parent/Issuer
Guarantor Subsidiaries
Non-guarantor Subsidiaries
Eliminations
Consolidated Total
Net income
$
157

$
163

$
7

$
(170
)
$
157

Other comprehensive income (loss), net of tax:
 
 
 
 
 
Foreign currency translation adjustments
—

4

(14
)
—

(10
)
Other comprehensive income (loss), net of tax
—

4

(14
)
—

(10
)
Comprehensive income (loss)
$
157

$
167

$
(7
)
$
(170
)
$
147

Condensed Consolidated Statements of Cash Flows with Guarantor Information [Table Text Block] 
Condensed Consolidated Statements of Cash Flows (unaudited)
(In millions)

 
January 15, 2017
 
Parent/Issuer
Guarantor Subsidiaries
Non-guarantor Subsidiaries
Eliminations
Consolidated Total
Net cash provided by (used in) operating activities
$
(26
)
$
293

$
17

$
—

$
284

Cash flows from investing activities
 
 
 
 
 
Purchases of property, plant and equipment
—

(226
)
(19
)
—

(245
)
Purchases of available-for-sale securities
—

(200
)
—

—

(200
)
Sales and maturities of available-for-sale securities
—

205

—

—

205

Payment for purchase of acquired entities, net of cash acquired
—

—

—

—

—

Intercompany activity
64

—

—

(64
)
—

Other investing activities
—

(4
)
—

—

(4
)
Net cash provided by (used in) investing activities
64

(225
)
(19
)
(64
)
(244
)
Cash flows from financing activities
 
 
 
 
 
Purchases of treasury stock
—

—

—

—

—

Common stock dividends paid
(43
)
—

—

—

(43
)
Issuance of common stock
5

—

—

—

5

Excess tax benefit related to exercise of team member stock options
—

—

—

—

—

Proceeds from long-term borrowings
—

—

—

—

—

Proceed for revolving line of credit
—

—

—

—

—

Payments on long-term debt and capital lease obligations
—

—

—

—

—

Intercompany activity
—

(66
)
2

64

—

Other financing activities
—

—

—

—

—

Net cash provided by (used in) financing activities
(38
)
(66
)
2

64

(38
)
Effect of exchange rate changes on cash and cash equivalents
—

—

—

—

—

Net change in cash, cash equivalents, and restricted cash
—

2

—

—

2

Cash, cash equivalents, and restricted cash at beginning of period
—

368

105

—

473

Cash, cash equivalents, and restricted cash at end of period
$
—

$
370

$
105

$
—

$
475


Condensed Consolidated Statements of Cash Flows (unaudited)
(In millions)

 
January 17, 2016
 
Parent/Issuer
Guarantor Subsidiaries
Non-guarantor Subsidiaries
Eliminations
Consolidated Total
Net cash provided by operating activities
$
—

$
219

$
13

$
—

$
232

Cash flows from investing activities
 
 
 
 
 
Purchases of property, plant and equipment
—

(156
)
(23
)
—

(179
)
Purchases of available-for-sale securities
—

(133
)
—

—

(133
)
Sales and maturities of available-for-sale securities
—

220

—

—

220

Payment for purchase of acquired entities, net of cash acquired
—

—

(11
)
—

(11
)
Intercompany activity
(319
)
—

—

319

—

Other investing activities
—

(6
)
—

—

(6
)
Net cash used in investing activities
(319
)
(75
)
(34
)
319

(109
)
Cash flows from financing activities
 
 
 
 
 
Purchases of treasury stock
(634
)
—

—

—

(634
)
Common stock dividends paid
(45
)
—

—

—

(45
)
Issuance of common stock
7

—

—

—

7

Excess tax benefit related to exercise of team member stock options
1

—

—

—

1

Proceeds from long-term borrowings
999

—

—

—

999

Proceeds from revolving line of credit
300

—

—

—

300

Payments on long-term debt and capital lease obligations
(302
)
—

—

—

(302
)
Intercompany activity
—

305

14

(319
)
—

Other financing activities
(7
)
—

—

—

(7
)
Net cash provided by financing activities
319

305

14

(319
)
319

Effect of exchange rate changes on cash and cash equivalents
—

—

(1
)
—

(1
)
Net change in cash, cash equivalents, and restricted cash
—

449

(8
)
—

441

Cash, cash equivalents, and restricted cash at beginning of period
—

261

103

—

364

Cash, cash equivalents, and restricted cash at end of period
$
—

$
710

$
95

$
—

$
805

Basis of Presentation (Percentage Sales by Geographic Area) (Details)
4 Months Ended
Jan. 15, 2017
Jan. 17, 2016
Percentage sales by geographic area
 
 
Percentage of Total Sales
100.00% 
100.00% 
United States [Member]
 
 
Percentage sales by geographic area
 
 
Percentage of Total Sales
97.10% 
97.10% 
Canada and United Kingdom [Member]
 
 
Percentage sales by geographic area
 
 
Percentage of Total Sales
2.90% 
2.90% 
Basis of Presentation (Percentage of Net Long-Lived Assets by Geographic Area) (Details)
Jan. 15, 2017
Sep. 25, 2016
Percentage net long-lived assets by geographic area
 
 
Percentage of Total Net Long-Lived Assets
100.00% 
100.00% 
United States [Member]
 
 
Percentage net long-lived assets by geographic area
 
 
Percentage of Total Net Long-Lived Assets
97.50% 
97.50% 
Canada and United Kingdom [Member]
 
 
Percentage net long-lived assets by geographic area
 
 
Percentage of Total Net Long-Lived Assets
2.50% 
2.50% 
Basis of Presentation (Narrative) (Details)
4 Months Ended 12 Months Ended
Jan. 15, 2017
Sep. 25, 2016
Organization Consolidation and Presentation [Line Items]
 
 
Number of Operating Segments
1 
 
Number of Reportable Segments
1 
 
Fiscal Year [Member]
 
 
Organization Consolidation and Presentation [Line Items]
 
 
Fiscal Period Duration
364 days 
364 days 
Fiscal Year [Member] |
Minimum [Member]
 
 
Organization Consolidation and Presentation [Line Items]
 
 
Fiscal Period Duration
364 days 
 
Fiscal Year [Member] |
Maximum [Member]
 
 
Organization Consolidation and Presentation [Line Items]
 
 
Fiscal Period Duration
371 days 
 
First Quarter [Member]
 
 
Organization Consolidation and Presentation [Line Items]
 
 
Fiscal Period Duration
112 days 
 
Second Quarter [Member]
 
 
Organization Consolidation and Presentation [Line Items]
 
 
Fiscal Period Duration
84 days 
 
Third Quarter [Member]
 
 
Organization Consolidation and Presentation [Line Items]
 
 
Fiscal Period Duration
84 days 
 
Fourth Quarter [Member] |
Minimum [Member]
 
 
Organization Consolidation and Presentation [Line Items]
 
 
Fiscal Period Duration
84 days 
 
Fourth Quarter [Member] |
Maximum [Member]
 
 
Organization Consolidation and Presentation [Line Items]
 
 
Fiscal Period Duration
91 days 
 
Fair Value Measurements (Fair Value Hierarchy) (Details) (Fair value, Measurements, Recurring [Member], USD $)
In Millions, unless otherwise specified
Jan. 15, 2017
Sep. 25, 2016
Assets, Fair Value Disclosure [Abstract]
 
 
Total
$ 397 
$ 517 
Level 1 Inputs [Member]
 
 
Assets, Fair Value Disclosure [Abstract]
 
 
Total
23 
62 
Level 2 Inputs [Member]
 
 
Assets, Fair Value Disclosure [Abstract]
 
 
Total
374 
455 
Money Market Funds [Member]
 
 
Assets, Fair Value Disclosure [Abstract]
 
 
Cash Equivalents, Fair Value Disclosure
23 
62 
Money Market Funds [Member] |
Level 1 Inputs [Member]
 
 
Assets, Fair Value Disclosure [Abstract]
 
 
Cash Equivalents, Fair Value Disclosure
23 
62 
Commercial Paper [Member]
 
 
Assets, Fair Value Disclosure [Abstract]
 
 
Cash Equivalents, Fair Value Disclosure
 
30 
Marketable Securities - Available-for-sale
 
30 
Commercial Paper [Member] |
Level 2 Inputs [Member]
 
 
Assets, Fair Value Disclosure [Abstract]
 
 
Cash Equivalents, Fair Value Disclosure
 
30 
Marketable Securities - Available-for-sale
 
30 
Municipal Notes Bonds [Member]
 
 
Assets, Fair Value Disclosure [Abstract]
 
 
Cash Equivalents, Fair Value Disclosure
 
46 
Marketable Securities - Available-for-sale
31 
26 
Municipal Notes Bonds [Member] |
Level 2 Inputs [Member]
 
 
Assets, Fair Value Disclosure [Abstract]
 
 
Cash Equivalents, Fair Value Disclosure
 
46 
Marketable Securities - Available-for-sale
31 
26 
Variable Rate Demand Obligation [Member]
 
 
Assets, Fair Value Disclosure [Abstract]
 
 
Marketable Securities - Available-for-sale
343 
323 
Variable Rate Demand Obligation [Member] |
Level 2 Inputs [Member]
 
 
Assets, Fair Value Disclosure [Abstract]
 
 
Marketable Securities - Available-for-sale
$ 343 
$ 323 
Fair Value Measurements Fair Value Measurements (Narrative) (Details) (Relocation, Store Closure and Lease Termination Cost [Member], Fair Value, Measurements, Nonrecurring [Member], Fair Value, Inputs, Level 3 [Member], USD $)
In Millions, unless otherwise specified
4 Months Ended
Jan. 15, 2017
Relocation, Store Closure and Lease Termination Cost [Member] |
Fair Value, Measurements, Nonrecurring [Member] |
Fair Value, Inputs, Level 3 [Member]
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
Impairment of Long-Lived Assets, on a Nonrecurring Basis
$ 34 
Investments (Investments at Fair Value) (Details) (USD $)
In Millions, unless otherwise specified
Jan. 15, 2017
Sep. 25, 2016
Schedule of Available-for-sale Securities [Line Items]
 
 
Available-for-sale Securities, Current
$ 374 
$ 379 
Commercial Paper [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Available-for-sale Securities, Current
 
30 
Municipal Notes [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Available-for-sale Securities, Current
31 
26 
Variable Rate Demand Obligation [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Available-for-sale Securities, Current
$ 343 
$ 323 
Investments (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
4 Months Ended 12 Months Ended
Jan. 15, 2017
Sep. 25, 2016
Investments [Abstract]
 
 
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value
$ 0 
$ 33 
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value
0 
 
Short-term Investments Average Effective Maturity Period (in months), Less Than and Approximately, Respectively
1 month 
1 month 
Cost Method Investments
$ 23 
$ 19 
Goodwill and Other Intangible Assets (Components of Intangible Assets) (Details) (USD $)
In Millions, unless otherwise specified
Jan. 15, 2017
Sep. 25, 2016
Finite and Indefinite-Lived Intangible Assets [Line Items]
 
 
Finite and Indefinite-Lived Intangible Assets, Gross
$ 129 
$ 129 
Finite-Lived Intangible Assets, Accumulated Amortization
(57)
(55)
Contract-Based Intangible Assets [Member]
 
 
Finite and Indefinite-Lived Intangible Assets [Line Items]
 
 
Finite-Lived Intangible Assets, Gross
120 
120 
Finite-Lived Intangible Assets, Accumulated Amortization
(57)
(55)
Contract-Based Intangible Assets [Member]
 
 
Finite and Indefinite-Lived Intangible Assets [Line Items]
 
 
Indefinite-Lived Intangible Assets
$ 9 
$ 9 
Goodwill and Other Intangible Assets (Future Amortization Expense) (Details) (USD $)
In Millions, unless otherwise specified
Jan. 15, 2017
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
 
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year
$ 4 
Finite-Lived Intangible Assets, Amortization Expense, Year Two
5 
Finite-Lived Intangible Assets, Amortization Expense, Year Three
5 
Finite-Lived Intangible Assets, Amortization Expense, Year Four
5 
Finite-Lived Intangible Assets, Amortization Expense, Year Five
4 
Finite-Lived Intangible Assets, Amortization Expense, after Year Five
40 
Finite-Lived Intangible Assets, Future Amortization Expense
$ 63 
Goodwill and Other Intangible Assets (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
4 Months Ended
Jan. 15, 2017
Jan. 17, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
 
 
Goodwill, Additions
$ 0 
$ 0 
Goodwill, Adjustments
$ 0 
$ 0 
Store and Facility Closures (Details) (USD $)
In Millions, unless otherwise specified
4 Months Ended 12 Months Ended 4 Months Ended 3 Months Ended
Jan. 15, 2017
Sep. 25, 2016
Jan. 15, 2017
Relocation, Store Closure and Lease Termination Cost [Member]
Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Inputs, Level 3 [Member]
Apr. 9, 2017
Scenario, Forecast [Member]
Restructuring Cost and Reserve [Line Items]
 
 
 
 
Impairment of Long-Lived Assets, on a Nonrecurring Basis
 
 
$ 34 
 
Restructuring Charges
$ 1 
$ 6 
 
$ 30 
Reserves for Closed Properties (Reserves for Closed Properties) (Details) (USD $)
In Millions, unless otherwise specified
4 Months Ended 12 Months Ended
Jan. 15, 2017
Sep. 25, 2016
Restructuring Reserve [Roll Forward]
 
 
Beginning Balance
$ 26 
$ 28 
Additions
1 
6 
Usage
(2)
(10)
Adjustments
1 
2 
Ending Balance
$ 26 
$ 26 
Long-Term Debt (Schedule of Long-Term Debt) (Details) (USD $)
In Millions, unless otherwise specified
Jan. 15, 2017
Sep. 25, 2016
Debt Instrument [Line Items]
 
 
Total Long-Term Debt and Capital Lease Obligations
$ 1,051 
$ 1,051 
Less: Current Installments
(3)
(3)
Total Long-Term Debt and Capital Lease Obligations, Less Current Installments
1,048 
1,048 
Unsecured Debt [Member] |
5.2% Senior Notes due 2025 [Member]
 
 
Debt Instrument [Line Items]
 
 
5.2% Senior Notes due 2025
1,000 
1,000 
Less: Unamortized Discount and Debt Issuance Costs Related to Senior Notes
(7)
(7)
Carrying Value of Senior Notes
993 
993 
Capital Lease Obligations [Member]
 
 
Debt Instrument [Line Items]
 
 
Capital Lease Obligations
$ 58 
$ 58 
Long-Term Debt (Credit Agreement) (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
4 Months Ended 4 Months Ended
Jan. 17, 2016
Jan. 15, 2017
Jan. 15, 2017
Unsecured Debt [Member]
Revolving Credit Facility [Member]
Jan. 15, 2017
Unsecured Debt [Member]
Letter of Credit [Member]
Line of Credit Facility [Line Items]
 
 
 
 
Line of Credit Facility, Maximum Borrowing Capacity
 
 
$ 500 
 
Conditional Additional Borrowing Capacity Under Line of Credit Facility
 
 
250 
250 
Proceeds from revolving line of credit
300 
 
 
 
Repayments of Lines of Credit
300 
 
 
 
Long-term Line of Credit
 
$ 0 
 
 
Long-Term Debt (Senior Notes) (Narrative) (Details) (Unsecured Debt [Member], 5.2% Senior Notes due 2025 [Member], USD $)
In Millions, unless otherwise specified
4 Months Ended
Jan. 15, 2017
Sep. 25, 2016
Unsecured Debt [Member] |
5.2% Senior Notes due 2025 [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Face Amount
$ 1,000 
$ 1,000 
Debt Instrument, Interest Rate, Stated Percentage
5.20% 
 
Debt Instrument, Frequency of Interest Payment
semiannually 
 
Debt Instrument, Maturity Date
Dec. 03, 2025 
 
Debt Instrument, Interest Rate During Period
5.28% 
 
Fair Value, Debt Instrument, Fair Value Exceeded Carrying Value
$ 70 
 
Income Taxes (Narrative) (Details)
4 Months Ended
Jan. 15, 2017
Jan. 17, 2016
Income Tax Disclosure [Abstract]
 
 
Effective Tax Rate, Percent
39.00% 
37.00% 
Shareholders' Equity (Dividends Declared per Common Share) (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 4 Months Ended 12 Months Ended
Sep. 25, 2016
Jul. 3, 2016
Apr. 10, 2016
Jan. 15, 2017
Jan. 17, 2016
Sep. 25, 2016
Dividends Per Common Share [Abstract]
 
 
 
 
 
 
Dividends Payable, Date Declared
Sep. 22, 2016 
Jun. 07, 2016 
Mar. 09, 2016 
Nov. 02, 2016 
Nov. 04, 2015 
 
Dividends declared per common share (in dollars per share)
$ 0.135 
$ 0.135 
$ 0.135 
$ 0.14 
$ 0.135 
$ 0.54 
Dividends Payable, Date of Record
Oct. 03, 2016 
Jul. 01, 2016 
Apr. 08, 2016 
Jan. 13, 2017 
Jan. 15, 2016 
 
Dividends Payable, Date to be Paid
Oct. 14, 2016 
Jul. 12, 2016 
Apr. 19, 2016 
Jan. 24, 2017 
Jan. 26, 2016 
 
Dividends, Common Stock, Cash
$ 43 
$ 43 
$ 44 
$ 45 
$ 44 
$ 174 
Shareholders' Equity (Share Repurchase Programs) (Details) (Nov. 4, 2015 Share Repurchase Program [Member], USD $)
Jan. 15, 2017
Nov. 4, 2015 Share Repurchase Program [Member]
 
Stock Repurchase Program, Authorized Amount
$ 1,000,000,000 
Stock Repurchase Program, Amount Utilized For Repurchases
557,000,000 
Stock Repurchase Program, Remaining Authorized Repurchase Amount
$ 443,000,000 
Shareholders' Equity (Share Repurchase Activity) (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified
4 Months Ended 12 Months Ended
Jan. 17, 2016
Sep. 25, 2016
Equity [Abstract]
 
 
Treasury Stock, Shares, Acquired
21.2 
 
Treasury Stock Acquired, Average Cost Per Share
$ 29.96 
 
Treasury Stock, Value, Acquired, Cost Method
$ 634 
$ 944 
Shareholders' Equity (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
4 Months Ended
Jan. 15, 2017
Jan. 17, 2016
Sep. 25, 2016
Treasury Stock [Abstract]
 
 
 
Treasury Stock Reissued During Period, Shares
0.2 
0.3 
 
Treasury Stock Reissued During Period, Value
$ 8 
$ 11 
 
Treasury Stock, Shares
58.5 
 
58.7 
Treasury Stock, Value
$ 2,018 
 
$ 2,026 
Earnings per Share (Earnings per Share Reconciliation) (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified
4 Months Ended 12 Months Ended
Jan. 15, 2017
Jan. 17, 2016
Sep. 25, 2016
Earnings Per Share [Abstract]
 
 
 
Net Income
$ 95 
$ 157 
$ 507 
Weighted Average Number of Shares Outstanding, Basic
318.2 
337.0 
 
Potential common shares outstanding [Abstract]
 
 
 
Incremental Common Shares Attributable to Dilutive Effect of Share-based Awards
0.5 
1.2 
 
Weighted Average Number of Shares Outstanding, Diluted
318.7 
338.2 
 
Basic earnings per share (in dollars per share)
$ 0.30 
$ 0.47 
 
Diluted earnings per share (in dollars per share)
$ 0.30 
$ 0.46 
 
Earnings per Share (Narrative) (Details)
In Millions, unless otherwise specified
4 Months Ended
Jan. 15, 2017
Jan. 17, 2016
Earnings Per Share [Abstract]
 
 
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount
24.5 
18.7 
Share-Based Payments (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
4 Months Ended
Jan. 15, 2017
Jan. 17, 2016
Sep. 25, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Allocated Share-based Payment Expense
$ 14 
$ 16 
 
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant
30.3 
 
29.8 
Stock Option [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options
$ 61 
 
$ 73 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares
10.3 
 
10.5 
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition
2 years 8 months 
 
 
Consolidated Statements of Balance Sheets with Guarantor Information (Details) (USD $)
In Millions, unless otherwise specified
Jan. 15, 2017
Sep. 25, 2016
Sep. 27, 2015
Current assets:
 
 
 
Cash and cash equivalents
$ 350 
$ 351 
 
Short-term investments - available-for-sale securities
374 
379 
 
Restricted cash
125 
122 
 
Accounts receivable
251 
242 
 
Merchandise inventories
554 
517 
 
Prepaid expenses and other current assets
123 
167 
 
Deferred income taxes
210 
197 
 
Total current assets
1,987 
1,975 
 
Property and equipment, net of accumulated depreciation and amortization
3,460 
3,442 
 
Goodwill
710 
710 
 
Intangible assets, net of accumulated amortization
72 
74 
 
Deferred income taxes
111 
100 
 
Other assets
42 
40 
 
Total assets
6,382 
6,341 
 
Current liabilities:
 
 
 
Current installments of long-term debt and capital lease obligations
3 
3 
 
Accounts payable
288 
307 
 
Accrued payroll, bonus and other benefits due team members
421 
407 
 
Dividends payable
45 
43 
 
Other current liabilities
543 
581 
 
Total current liabilities
1,300 
1,341 
 
Long-term debt and capital lease obligations, less current installments
1,048 
1,048 
 
Deferred lease liabilities
653 
640 
 
Other long-term liabilities
89 
88 
 
Total liabilities
3,090 
3,117 
 
Commitments and contingencies
   
   
 
Shareholders’ equity:
 
 
 
Total shareholders’ equity
3,292 
3,224 
3,769 
Total liabilities and shareholders’ equity
6,382 
6,341 
 
Parent Company [Member]
 
 
 
Current assets:
 
 
 
Investments in consolidated subsidiaries
4,695 
4,593 
 
Intangible assets, net of accumulated amortization
1 
1 
 
Total assets
4,696 
4,594 
 
Current liabilities:
 
 
 
Intercompany payable
360 
317 
 
Accrued payroll, bonus and other benefits due team members
   
 
 
Dividends payable
45 
43 
 
Other current liabilities
6 
17 
 
Total current liabilities
411 
377 
 
Long-term debt and capital lease obligations, less current installments
993 
993 
 
Total liabilities
1,404 
1,370 
 
Commitments and contingencies
   
   
 
Shareholders’ equity:
 
 
 
Total shareholders’ equity
3,292 
3,224 
 
Total liabilities and shareholders’ equity
4,696 
4,594 
 
Guarantor Subsidiaries [Member]
 
 
 
Current assets:
 
 
 
Cash and cash equivalents
252 
254 
 
Short-term investments - available-for-sale securities
374 
379 
 
Restricted cash
118 
114 
 
Accounts receivable
229 
216 
 
Intercompany receivable
695 
649 
 
Merchandise inventories
467 
441 
 
Prepaid expenses and other current assets
106 
150 
 
Deferred income taxes
210 
197 
 
Total current assets
2,451 
2,400 
 
Property and equipment, net of accumulated depreciation and amortization
3,075 
3,063 
 
Investments in consolidated subsidiaries
105 
103 
 
Goodwill
703 
702 
 
Intangible assets, net of accumulated amortization
62 
63 
 
Deferred income taxes
105 
94 
 
Other assets
15 
16 
 
Total assets
6,516 
6,441 
 
Current liabilities:
 
 
 
Current installments of long-term debt and capital lease obligations
3 
3 
 
Accounts payable
209 
227 
 
Accrued payroll, bonus and other benefits due team members
395 
381 
 
Other current liabilities
500 
536 
 
Total current liabilities
1,107 
1,147 
 
Long-term debt and capital lease obligations, less current installments
48 
48 
 
Deferred lease liabilities
603 
592 
 
Other long-term liabilities
88 
87 
 
Total liabilities
1,846 
1,874 
 
Commitments and contingencies
   
   
 
Shareholders’ equity:
 
 
 
Total shareholders’ equity
4,670 
4,567 
 
Total liabilities and shareholders’ equity
6,516 
6,441 
 
Non-Guarantor Subsidiaries [Member]
 
 
 
Current assets:
 
 
 
Cash and cash equivalents
98 
97 
 
Restricted cash
7 
8 
 
Accounts receivable
22 
26 
 
Merchandise inventories
87 
76 
 
Prepaid expenses and other current assets
17 
17 
 
Total current assets
231 
224 
 
Property and equipment, net of accumulated depreciation and amortization
385 
379 
 
Investments in consolidated subsidiaries
474 
472 
 
Goodwill
7 
8 
 
Intangible assets, net of accumulated amortization
9 
10 
 
Deferred income taxes
6 
6 
 
Other assets
27 
24 
 
Total assets
1,139 
1,123 
 
Current liabilities:
 
 
 
Accounts payable
79 
80 
 
Intercompany payable
335 
333 
 
Accrued payroll, bonus and other benefits due team members
26 
26 
 
Other current liabilities
37 
28 
 
Total current liabilities
477 
467 
 
Long-term debt and capital lease obligations, less current installments
7 
7 
 
Deferred lease liabilities
50 
48 
 
Other long-term liabilities
1 
1 
 
Total liabilities
535 
523 
 
Commitments and contingencies
   
   
 
Shareholders’ equity:
 
 
 
Total shareholders’ equity
604 
600 
 
Total liabilities and shareholders’ equity
1,139 
1,123 
 
Eliminations [Member]
 
 
 
Current assets:
 
 
 
Intercompany receivable
(695)
(649)
 
Total current assets
(695)
(649)
 
Investments in consolidated subsidiaries
(5,274)
(5,168)
 
Total assets
(5,969)
(5,817)
 
Current liabilities:
 
 
 
Intercompany payable
(695)
(650)
 
Total current liabilities
(695)
(650)
 
Total liabilities
(695)
(650)
 
Commitments and contingencies
   
   
 
Shareholders’ equity:
 
 
 
Total shareholders’ equity
(5,274)
(5,167)
 
Total liabilities and shareholders’ equity
$ (5,969)
$ (5,817)
 
Consolidated Statements of Operations with Guarantor Information (Details) (USD $)
In Millions, unless otherwise specified
4 Months Ended 12 Months Ended
Jan. 15, 2017
Jan. 17, 2016
Sep. 25, 2016
Income Statement
 
 
 
Sales
$ 4,918 
$ 4,829 
 
Cost of goods sold and occupancy costs
3,268 
3,188 
 
Gross profit
1,650 
1,641 
 
Selling, general and administrative expenses
1,417 
1,373 
 
Pre-opening expenses
21 
13 
 
Relocation, store closure and lease termination costs
41 
3 
 
Operating income
171 
252 
 
Interest expense
(15)
(7)
 
Investment and other income (expense)
 
4 
 
Income before income taxes
156 
249 
 
Provision for income taxes
61 
92 
 
Net income
95 
157 
507 
Parent Company [Member]
 
 
 
Income Statement
 
 
 
Interest expense
(15)
(7)
 
Equity in net income of subsidiaries
104 
161 
 
Income before income taxes
89 
154 
 
Provision for income taxes
(6)
(3)
 
Net income
95 
157 
 
Guarantor Subsidiaries [Member]
 
 
 
Income Statement
 
 
 
Sales
4,672 
4,584 
 
Cost of goods sold and occupancy costs
3,110 
3,029 
 
Gross profit
1,562 
1,555 
 
Selling, general and administrative expenses
1,337 
1,294 
 
Pre-opening expenses
18 
10 
 
Relocation, store closure and lease termination costs
40 
3 
 
Operating income
167 
248 
 
Investment and other income (expense)
 
5 
 
Equity in net income of subsidiaries
2 
3 
 
Income before income taxes
169 
256 
 
Provision for income taxes
65 
93 
 
Net income
104 
163 
 
Non-Guarantor Subsidiaries [Member]
 
 
 
Income Statement
 
 
 
Sales
314 
289 
 
Cost of goods sold and occupancy costs
224 
202 
 
Gross profit
90 
87 
 
Selling, general and administrative expenses
80 
79 
 
Pre-opening expenses
3 
3 
 
Relocation, store closure and lease termination costs
1 
 
 
Operating income
6 
5 
 
Investment and other income (expense)
(1)
(2)
 
Equity in net income of subsidiaries
1 
6 
 
Income before income taxes
6 
9 
 
Provision for income taxes
2 
2 
 
Net income
4 
7 
 
Eliminations [Member]
 
 
 
Income Statement
 
 
 
Sales
(68)
(44)
 
Cost of goods sold and occupancy costs
(66)
(43)
 
Gross profit
(2)
(1)
 
Operating income
(2)
(1)
 
Investment and other income (expense)
1 
1 
 
Equity in net income of subsidiaries
(107)
(170)
 
Income before income taxes
(108)
(170)
 
Net income
$ (108)
$ (170)
 
Consolidated Statements of Comprehensive Income with Guarantor Information (Details) (USD $)
In Millions, unless otherwise specified
4 Months Ended 12 Months Ended
Jan. 15, 2017
Jan. 17, 2016
Sep. 25, 2016
Net income
$ 95 
$ 157 
$ 507 
Other Comprehensive Income (Loss), Net of Tax [Abstract]
 
 
 
Foreign currency translation adjustments
(1)
(10)
 
Other comprehensive income (loss), net of tax
(1)
(10)
(4)
Comprehensive income (loss)
94 
147 
 
Parent Company [Member]
 
 
 
Net income
95 
157 
 
Other Comprehensive Income (Loss), Net of Tax [Abstract]
 
 
 
Comprehensive income (loss)
95 
157 
 
Guarantor Subsidiaries [Member]
 
 
 
Net income
104 
163 
 
Other Comprehensive Income (Loss), Net of Tax [Abstract]
 
 
 
Foreign currency translation adjustments
(4)
4 
 
Other comprehensive income (loss), net of tax
(4)
4 
 
Comprehensive income (loss)
100 
167 
 
Non-Guarantor Subsidiaries [Member]
 
 
 
Net income
4 
7 
 
Other Comprehensive Income (Loss), Net of Tax [Abstract]
 
 
 
Foreign currency translation adjustments
3 
(14)
 
Other comprehensive income (loss), net of tax
3 
(14)
 
Comprehensive income (loss)
7 
(7)
 
Eliminations [Member]
 
 
 
Net income
(108)
(170)
 
Other Comprehensive Income (Loss), Net of Tax [Abstract]
 
 
 
Comprehensive income (loss)
$ (108)
$ (170)
 
Condensed Consolidated Statements of Cash Flows with Guarantor Information (Details) (USD $)
In Millions, unless otherwise specified
4 Months Ended
Jan. 15, 2017
Jan. 17, 2016
Net Cash Provided by (Used in) Operating Activities [Abstract]
 
 
Net cash provided by (used in) operating activities
$ 284 
$ 232 
Net Cash Provided by (Used in) Investing Activities [Abstract]
 
 
Purchases of property, plant and equipment
(245)
(179)
Purchases of available-for-sale securities
(200)
(133)
Sales and maturities of available-for-sale securities
205 
220 
Payment for purchase of acquired entities, net of cash acquired
 
(11)
Other investing activities
(4)
(6)
Net cash provided by (used in) investing activities
(244)
(109)
Net Cash Provided by (Used in) Financing Activities [Abstract]
 
 
Purchases of treasury stock
 
(634)
Common stock dividends paid
(43)
(45)
Issuance of common stock
5 
7 
Excess tax benefit related to exercise of team member stock options
 
1 
Proceeds from long-term borrowings
 
999 
Proceeds from revolving line of credit
 
300 
Payments on long-term debt and capital lease obligations
 
(302)
Other financing activities
 
(7)
Net cash provided by (used in) financing activities
(38)
319 
Effect of exchange rate changes on cash and cash equivalents
 
(1)
Net change in cash, cash equivalents, and restricted cash
2 
441 
Cash, cash equivalents, and restricted cash at beginning of period
473 
364 
Cash, cash equivalents, and restricted cash at end of period
475 
805 
Parent Company [Member]
 
 
Net Cash Provided by (Used in) Operating Activities [Abstract]
 
 
Net cash provided by (used in) operating activities
(26)
 
Net Cash Provided by (Used in) Investing Activities [Abstract]
 
 
Intercompany activity
64 
(319)
Net cash provided by (used in) investing activities
64 
(319)
Net Cash Provided by (Used in) Financing Activities [Abstract]
 
 
Purchases of treasury stock
 
(634)
Common stock dividends paid
(43)
(45)
Issuance of common stock
5 
7 
Excess tax benefit related to exercise of team member stock options
 
1 
Proceeds from long-term borrowings
 
999 
Proceeds from revolving line of credit
 
300 
Payments on long-term debt and capital lease obligations
 
(302)
Other financing activities
 
(7)
Net cash provided by (used in) financing activities
(38)
319 
Guarantor Subsidiaries [Member]
 
 
Net Cash Provided by (Used in) Operating Activities [Abstract]
 
 
Net cash provided by (used in) operating activities
293 
219 
Net Cash Provided by (Used in) Investing Activities [Abstract]
 
 
Purchases of property, plant and equipment
(226)
(156)
Purchases of available-for-sale securities
(200)
(133)
Sales and maturities of available-for-sale securities
205 
220 
Other investing activities
(4)
(6)
Net cash provided by (used in) investing activities
(225)
(75)
Net Cash Provided by (Used in) Financing Activities [Abstract]
 
 
Intercompany activity
(66)
305 
Net cash provided by (used in) financing activities
(66)
305 
Net change in cash, cash equivalents, and restricted cash
2 
449 
Cash, cash equivalents, and restricted cash at beginning of period
368 
261 
Cash, cash equivalents, and restricted cash at end of period
370 
710 
Non-Guarantor Subsidiaries [Member]
 
 
Net Cash Provided by (Used in) Operating Activities [Abstract]
 
 
Net cash provided by (used in) operating activities
17 
13 
Net Cash Provided by (Used in) Investing Activities [Abstract]
 
 
Purchases of property, plant and equipment
(19)
(23)
Payment for purchase of acquired entities, net of cash acquired
 
(11)
Net cash provided by (used in) investing activities
(19)
(34)
Net Cash Provided by (Used in) Financing Activities [Abstract]
 
 
Intercompany activity
2 
14 
Net cash provided by (used in) financing activities
2 
14 
Effect of exchange rate changes on cash and cash equivalents
 
(1)
Net change in cash, cash equivalents, and restricted cash
 
(8)
Cash, cash equivalents, and restricted cash at beginning of period
105 
103 
Cash, cash equivalents, and restricted cash at end of period
105 
95 
Eliminations [Member]
 
 
Net Cash Provided by (Used in) Investing Activities [Abstract]
 
 
Intercompany activity
(64)
319 
Net cash provided by (used in) investing activities
(64)
319 
Net Cash Provided by (Used in) Financing Activities [Abstract]
 
 
Intercompany activity
64 
(319)
Net cash provided by (used in) financing activities
$ 64 
$ (319)