v3.26.1
Properties and Leases (Tables)
 12 Months Ended
Jan. 31, 2026
Property Plant and Equipment and Leases of Lessee [Abstract]  
Schedule of Major Classes of Property, Plant and Equipment, Net
The major classes of property and equipment, net as of January 31, 2026 and February 1, 2025 are as follows:
January 31,
2026		February 1,
2025
(millions)
Land$1,134 $1,168 
Buildings on owned land3,148 3,134 
Buildings on leased land and leasehold improvements1,331 1,334 
Fixtures and equipment3,385 3,611 
8,998 9,247 
Less accumulated depreciation and amortization4,255 4,177 
$4,743 $5,070 
Schedule of ROU Assets and Lease Liabilities
ROU assets and lease liabilities consist of:
ClassificationJanuary 31,
2026		February 1,
2025
(millions)
Assets
Finance lease assets (a)Right of Use Assets$9 $10 
Operating lease assets (b)Right of Use Assets2,127 2,233 
Total lease assets$2,136 $2,243 
Liabilities
Current
Finance (a)Accounts payable and accrued liabilities$2 $2 
Operating (b)Accounts payable and accrued liabilities361 365 
Noncurrent
Finance (a)Long-Term Lease Liabilities11 13 
Operating (b)Long-Term Lease Liabilities2,761 2,914 
Total lease liabilities$3,135 $3,294 
(a)
Finance lease assets are recorded net of accumulated amortization of $12 million and $11 million as of January 31, 2026 and February 1, 2025, respectively. As of both January 31, 2026 and February 1, 2025, finance lease assets included $1 million and noncurrent lease liabilities included $1 million of non-lease components.
(b)
As of January 31, 2026, operating lease assets included $315 million of non-lease components and current and noncurrent lease liabilities included $36 million and $355 million, respectively, of non-lease components. As of February 1, 2025, operating lease assets included $317 million of non-lease components and current and noncurrent lease liabilities included $36 million and $356 million, respectively, of non-lease components.
Schedule of Components of Net Lease Expense
The components of net lease expense, recognized primarily within selling, general and administrative expenses are disclosed below. For 2025, 2024 and 2023, lease expense included $87 million, $89 million and $84 million, respectively, related to non-lease components.
202520242023
(millions)
Real estate
Operating leases (c) –
Minimum rents$361 $375 $372 
Variable rents64 63 55 
425 438 427 
Less income from subleases –
Operating leases (d)(54)(50)(46)
$371 $388 $381 
Personal property – Operating leases$5 $5 $6 
(c)Certain supply chain operating lease expense amounts are included in cost of sales.
(d)Represents sublease income from certain corporate office locations.
Schedule of Maturity of Lease Liabilities
As of January 31, 2026, the maturity of lease liabilities is as follows:
Finance
Leases		Operating
Leases
(e and f)		Total
(millions)
Fiscal year
2026$3 $393 $396 
20273 374 377 
20282 357 359 
20292 326 328 
20301 322 323 
After 20308 4,223 4,231 
Total undiscounted lease payments19 5,995 6,014 
Less amount representing interest6 2,873 2,879 
Total lease liabilities$13 $3,122 $3,135 
(e)
Operating lease payments include $2,396 million related to options to extend lease terms that are reasonably certain of being exercised and exclude $14 million of legally binding minimum lease payments for leases signed but not yet commenced.
(f)
Operating lease payments include $968 million related to non-lease component payments, with $668 million of such payments related to options to extend lease terms that are reasonably certain of being exercised.
Schedule of Maturity of Lease Liabilities
As of January 31, 2026, the maturity of lease liabilities is as follows:
Finance
Leases		Operating
Leases
(e and f)		Total
(millions)
Fiscal year
2026$3 $393 $396 
20273 374 377 
20282 357 359 
20292 326 328 
20301 322 323 
After 20308 4,223 4,231 
Total undiscounted lease payments19 5,995 6,014 
Less amount representing interest6 2,873 2,879 
Total lease liabilities$13 $3,122 $3,135 
(e)
Operating lease payments include $2,396 million related to options to extend lease terms that are reasonably certain of being exercised and exclude $14 million of legally binding minimum lease payments for leases signed but not yet commenced.
(f)
Operating lease payments include $968 million related to non-lease component payments, with $668 million of such payments related to options to extend lease terms that are reasonably certain of being exercised.
Schedule of Supplemental Information Regarding Assumptions and Cash Flows
Additional supplemental information regarding assumptions and cash flows for operating and finance leases is as follows:
Lease Term and Discount RateJanuary 31,
2026		February 1,
2025
Weighted-average remaining lease term (years)
Finance leases10.210.8
Operating leases19.319.6
Weighted-average discount rate
Finance leases7.12 %7.15 %
Operating leases6.83 %6.80 %
Other Information52 Weeks Ended January 31, 202652 Weeks Ended
February 1, 2025
(millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used from operating leases$399 $362 
Financing cash flows used from financing leases3 3 
Leased assets obtained in exchange for new operating lease liabilities48 117