v3.25.4
Derivative Instruments (Tables)
 12 Months Ended
Jan. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Values of Outstanding Derivative Instruments
The fair values of outstanding derivative instruments were as follows (in millions):
Consolidated Balance Sheets LocationAs of January 31,
20262025
Derivative assets:
Cash flow hedgesPrepaid expenses and other current assets$15 $59 
Cash flow hedgesOther assets2 52 
Non-designated hedgesPrepaid expenses and other current assets4 1 
Total derivative assets$21 $112 
Derivative liabilities:
Cash flow hedgesAccrued expenses and other current liabilities$71 $22 
Cash flow hedgesOther liabilities65 3 
Non-designated hedgesAccrued expenses and other current liabilities12 1 
Total derivative liabilities$148 $26 
Derivative Instruments Gain (Loss)
The effect of cash flow hedges on the Consolidated Statements of Operations was as follows (in millions):
Consolidated Statements of Operations LocationYear Ended January 31,
202620252024
TotalGains (losses) related to cash flow hedgesTotalGains (losses) related to cash flow hedgesTotalGains (losses) related to cash flow hedges
Revenues$9,552 $18 $8,446 $30 $7,259 $62 
Costs and expenses8,831 7 8,031 (3)7,076 1 
Pre-tax gains (losses) associated with cash flow hedges were as follows (in millions):
Consolidated Statements of Operations and Statements of Comprehensive Income (Loss) LocationsYear Ended January 31,
202620252024
Gains (losses) recognized in OCINet change in unrealized gains (losses) on cash flow hedges$(228)$96 $16 
Gains (losses) reclassified from AOCI into income (effective portion)Revenues18 30 62 
Gains (losses) reclassified from AOCI into income (effective portion)Costs and expenses7 (3)1 
Gains (losses) associated with non-designated hedges were as follows (in millions):
Consolidated Statements of Operations LocationYear Ended January 31,
202620252024
Gains (losses) related to non-designated hedgesOther income, net$(8)$4 $5