text: **Nordstrom, Inc.**
  **Notes to Consolidated Financial Statements**
  Dollar and share amounts in millions except per share, per option and per unit amounts 
  
  **NOTE 9: FAIR VALUE MEASUREMENTS**
  We disclose our financial assets and liabilities that are measured at fair value in our Consolidated Balance Sheets by level within the fair 
  value hierarchy as defined by applicable accounting standards: 
  
  Level 1: Quoted market prices in active markets for identical assets or liabilities 
  Level 2: Other observable market-based inputs or unobservable inputs that are corroborated by market data 
  Level 3: Unobservable inputs that cannot be corroborated by market data that reflect the reporting entity’s own 
   assumptions 
  
  We did not have any financial assets or liabilities that were measured at fair value on a recurring basis as of January 31, 2015 or February 1, 
  2014. 
  
  Financial instruments not measured at fair value on a recurring basis include cash and cash equivalents, accounts receivable and accounts 
  payable and approximate fair value due to their short-term nature. We estimate the fair value of long-term debt using quoted market prices of 
  the same or similar issues and, as such, this is considered a Level 2 fair value measurement. The following table summarizes the carrying 
  value and fair value estimate of our long-term debt, including current maturities: 