Fair Value Measurements (Tables)

3 Months Ended

Apr. 30, 2026

The fair value of these investments is as follows:


(Amounts in millions)	Fair Value as of April 30, 2026		Fair Value as of January 31, 2026
Equity investments measured using Level 1 inputs	$	1,033	$	1,037
Equity investments measured using Level 2 inputs	3,784		3,462
Debt investments measured using Level 3 inputs	1,192		1,176
Total	$	6,009	$	5,675

As of April 30, 2026 and January 31, 2026, the notional amounts and fair values of these derivatives were as follows:


	April 30, 2026					January 31, 2026
(Amounts in millions)	Notional Amount		Fair Value			Notional Amount		Fair Value
Receive fixed-rate, pay variable-rate interest rate swaps designated as fair value hedges	$	4,771	$	(423)	(1)	$	4,771	$	(411)	(1)

Receive fixed-rate, pay fixed-rate cross-currency swaps designated as cash flow hedges	5,163		(943)		(1)	6,020		(920)		(1)

Total	$	9,934	$	(1,366)		$	10,791	$	(1,331)

(1) Primarily classified in deferred income taxes and other within the Company's Condensed Consolidated Balance Sheets.

The carrying value and fair value of the Company's long-term debt as of April 30, 2026 and January 31, 2026, are as follows:


	April 30, 2026				January 31, 2026
(Amounts in millions)	Carrying Value		Fair Value		Carrying Value		Fair Value
Long-term debt, including amounts due within one year	$	40,783	$	38,944	$	38,166	$	36,777