The Company sells certain of its trade accounts receivable on a non-recourse basis to a third-party financial institution pursuant to a factoring arrangement. Total trade accounts receivable sold under the factoring arrangement was $300.9 million and $289.6 million for the three months ended May 2, 2026 and May 3, 2025, respectively. $295.8 million and $279.5 million remained subject to servicing by the Company as of May 2, 2026 and May 3, 2025, respectively. Factoring fees for the sales of receivables were recorded in Other expense, net and were not material for three months ended May 2, 2026 and May 3, 2025.


	May 2, 2026		January 31, 2026
Property and equipment, net:
Machinery and equipment	$	1,909.1	$	1,825.2
Land, buildings, and leasehold improvements	344.4		338.8
Computer software	142.4		137.1
Furniture and fixtures	44.2		41.5
	2,440.1		2,342.6
Less: Accumulated depreciation	(1,467.6)		(1,407.6)
Property and equipment, net	$	972.5	$	935.0


	May 2, 2026		January 31, 2026
Other non-current assets:
Prepaid ship and debits	$	572.4	$	584.2
Operating right-of-use assets	283.7		284.1
Technology licenses	280.6		296.3
Prepayments on supply capacity reservation agreements	263.1		278.8


Non-marketable equity investments	140.1		129.6
Other	203.3		153.9
Other non-current assets	$	1,743.2	$	1,726.9


	May 2, 2026		January 31, 2026
Accrued liabilities:
Variable consideration estimates (1)	$	702.2	$	713.8
Accrued income tax payable	192.6		228.3
Technology license obligations	100.0		84.1
Deferred revenue	63.7		40.1
Accrued restructuring	57.2		55.1
Lease liabilities - current portion	54.5		56.5
Accrued interest	39.9		45.7
Accrued royalties	28.7		25.1



Other	96.8		88.4
Accrued liabilities	$	1,335.6	$	1,337.1

(1)Substantially all of the variable consideration estimate is comprised of the ship and debit claims accrual, but also includes estimated customer returns, price discounts, price protection, rebates, and stock rotation programs.


	May 2, 2026		January 31, 2026
Other non-current liabilities:
Contingent consideration liability	$	647.6	$	—
Lease liabilities - non-current	261.4		263.2
Non-current restructuring liabilities	184.8		193.9
Technology license obligations	145.2		160.4
Non-current income tax payable	119.8		117.4
Deferred tax liabilities	95.7		20.5
Other	36.1		30.2
Other non-current liabilities	$	1,490.6	$	785.6


	Unrealized Gain (Loss) on Cash Flow Hedges
Balance at February 1, 2025	$	0.4
Other comprehensive income (loss) before reclassifications	(0.4)
Amounts reclassified from accumulated other comprehensive income (loss)	(0.1)
Net current-period other comprehensive income (loss), net of tax	(0.5)
Balance at May 3, 2025	$	(0.1)

On September 24, 2025, the Company’s Board of Directors authorized a $5.0 billion addition to the balance of its existing stock repurchase program (collectively, the Stock Repurchase Program), increasing the total repurchase authority to $9.7 billion. The Company's stock repurchase program commenced in fiscal 2017, and has no fixed expiration. As of May 2, 2026, $5.3 billion remained available for future stock repurchases. The Company intends to effect stock repurchases in accordance with the conditions of Rule 10b-18 under the Exchange Act, but may also make repurchases in the open market outside of Rule 10b-18 or in privately negotiated transactions. The stock repurchase program is subject to market conditions, legal rules and regulations, and other factors, and does not obligate the Company to repurchase any dollar amount or number of shares of its common stock and the repurchase program may be extended, modified, suspended or discontinued at any time.

During the three months ended May 2, 2026, the Company repurchased 1.4 million shares of its common stock for $200.0 million, including 0.8 million shares of its common stock repurchased for $120.0 million pursuant to a 10b5-1 trading plan. During the three months ended May 3, 2025, the Company repurchased 5.6 million shares of its common stock for $340.0 million. The Company records all repurchases, as well as investment purchases and sales, based on their trade date. The repurchased shares are retired immediately after repurchases are completed.