v3.25.1
LEASES (Tables)
 3 Months Ended
May 02, 2025
Leases [Abstract]  
Schedule of Components of Lease Costs and Supplemental Information
The following table presents components of lease costs included in the Condensed Consolidated Statements of Income for the periods indicated:
Three Months Ended
May 2, 2025May 3, 2024
(in millions)
Operating lease costs$58 $71 
Variable costs23 18 
Total lease costs$81 $89 
The following table presents supplemental information related to operating leases included in the Condensed Consolidated Statements of Financial Position as of the dates indicated:
ClassificationMay 2, 2025January 31, 2025
(in millions, except for term and discount rate)
Operating lease right-of-use assetsOther non-current assets$695$660
Current operating lease liabilitiesAccrued and other current liabilities$239$236
Non-current operating lease liabilitiesOther non-current liabilities555522
Total operating lease liabilities$794$758
Weighted-average remaining lease term (in years)4.334.36
Weighted-average discount rate4.91 %5.14 %
The following table presents supplemental cash flow information related to leases for the periods indicated:
Three Months Ended
May 2, 2025May 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 
Schedule of Maturity of Operating Lease Liabilities
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 2027225 
Fiscal 2028177 
Fiscal 2029123 
Fiscal 203091 
Thereafter77 
Total lease payments879 
Less: Imputed interest85 
Total$794 
Current operating lease liabilities$239 
Non-current operating lease liabilities$555