The Company enters into leasing transactions in which the Company is the lessee. These lease contracts are typically classified as operating leases. The Company’s lease contracts are generally for office buildings used to conduct its business, and the determination of whether such contracts contain leases generally does not require significant estimates or judgments. The Company also leases certain global logistics warehouses, employee vehicles, and equipment. As of May 2, 2025, the remaining terms of the Company’s leases generally range from one month to approximately eleven years. As of May 2, 2025 and January 31, 2025, there were no material finance leases in which the Company was a lessee.

The Company also enters into leasing transactions in which the Company is the lessor, primarily through customer financing arrangements offered under DFS. DFS originates leases that are primarily classified as either sales-type leases or operating leases. See Note 4 of the Notes to the Condensed Consolidated Financial Statements for more information about the Company’s lessor arrangements.

The following table presents components of lease costs included in the Condensed Consolidated Statements of Income for the periods indicated:

The following table presents supplemental information related to operating leases included in the Condensed Consolidated Statements of Financial Position as of the dates indicated:


	Classification	May 2, 2025			January 31, 2025

		(in millions, except for term and discount rate)
Operating lease right-of-use assets	Other non-current assets	$	695		$	660

Current operating lease liabilities	Accrued and other current liabilities	$	239		$	236
Non-current operating lease liabilities	Other non-current liabilities	555			522
Total operating lease liabilities		$	794		$	758

Weighted-average remaining lease term (in years)		4.33			4.36
Weighted-average discount rate		4.91		%	5.14		%


	Three Months Ended
	May 2, 2025		May 3, 2024

	(in millions)
Cash paid for amounts included in the measurement of lease liabilities — operating cash outflows from operating leases	$	63	$	69

Right-of-use assets obtained in exchange for new operating lease liabilities	$	65	$	10

The following table presents the future maturity of the Company’s operating lease liabilities under non-cancelable leases and reconciles the undiscounted cash flows for these leases to the lease liability recognized on the Condensed Consolidated Statements of Financial Position as of the date indicated:


	May 2, 2025

	(in millions)
Fiscal 2026 (remaining nine months)	$	186
Fiscal 2027	225
Fiscal 2028	177
Fiscal 2029	123
Fiscal 2030	91
Thereafter	77
Total lease payments	879
Less: Imputed interest	85
Total	$	794
Current operating lease liabilities	$	239
Non-current operating lease liabilities	$	555