Nordstrom, Inc.
Notes to Consolidated Financial Statements
Dollar and share amounts in millions except per share, per option and per unit amounts
52
Assumptions
Weighted-average assumptions used to determine our benefit obligation and SERP expense are as follows:
Fiscal year 2014 2013 2012
Assumptions used to determine benefit obligation:
Discount rate 3.70% 4.60% 4.30%
Rate of compensation increase 3.00% 3.00% 3.00%
Assumptions used to determine SERP expense:
Discount rate 4.60% 4.30% 4.50%
Rate of compensation increase 3.00% 3.00% 3.00%
Future Benefit Payments and Contributions
As of January 31, 2015, the expected future benefit payments based upon the assumptions described above and including benefits 
attributable to estimated future employee service are as follows:
Fiscal year
2015 $8
2016 9
2017 9
2018 9
2019 10
2020 – 2024 59
NOTE 8:  DEBT AND CREDIT FACILITIES
Debt
A summary of our long-term debt is as follows:
January 31, 2015 February 1, 2014
Secured
Series 2011-1 Class A Notes, 2.28%, due October 2016 $325 $325
Mortgage payable, 7.68%, due April 2020 36 42
Other 7 9
 Total secured debt 368 376
Unsecured
Net of unamortized discount:
Senior notes, 6.25%, due January 2018 649 648
Senior notes, 4.75%, due May 2020 499 499
Senior notes, 4.00%, due October 2021 499 499
Senior debentures, 6.95%, due March 2028 300 300
Senior notes, 7.00%, due January 2038 146 146
Senior notes, 5.00%, due January 2044 598 595
Other 72 50
 Total unsecured debt 2,763 2,737
Total long-term debt 3,131 3,113
Less: current portion (8) (7)
Total due beyond one year $3,123 $3,106
All of our Nordstrom private label card receivables and a 90% interest in our Nordstrom Visa credit card receivables serve as collateral for our 
Series 2011-1 Class A Notes.