v3.26.1
Fair Value Measurements (Tables)
 3 Months Ended
May 02, 2026
Fair Value Disclosures [Abstract]  
Schedule of Financial assets and liabilities
Financial assets and liabilities accounted for at fair value were as follows ($ in millions):
Fair Value as of
Balance Sheet Location(1)
Fair Value HierarchyMay 2, 2026January 31, 2026May 3, 2025
Assets
Money market funds(2)
Cash and cash equivalentsLevel 1$77 $143 $79 
Time deposits(3)
Cash and cash equivalentsLevel 2200 252 232 
Commercial paper(2)
Cash and cash equivalentsLevel 2- 37 - 
Money market funds(2)
Other current assetsLevel 1124 123 142 
Time deposits(3)
Other current assetsLevel 230 30 50 
Marketable securities that fund deferred compensation(4)
Other assetsLevel 141 41 38 
Liabilities
Interest rate swap derivative instruments(5)
Long-term liabilitiesLevel 28 1 8 
(1)Balance sheet location is determined by the length to maturity at date of purchase and whether the assets are restricted for particular use.
(2)Valued at quoted market prices in active markets at period end.
(3)Valued at face value plus accrued interest at period end, which approximates fair value.
(4)Valued using the performance of mutual funds that trade with sufficient frequency and volume to obtain pricing information on an ongoing basis.
(5)Valued using readily observable market inputs. These instruments are custom, over-the-counter contracts with various bank counterparties that are not traded on an active market. See Note 5, Derivative Instruments, for additional information.
Schedule of Fair Value of Financial Instruments Long-term debt balances were as follows ($ in millions):
May 2, 2026January 31, 2026May 3, 2025
Fair ValueCarrying ValueFair ValueCarrying ValueFair ValueCarrying Value
Long-term debt(1)
$1,075 $1,142 $1,089 $1,149 $1,043 $1,142 
(1)Excludes debt discounts, issuance costs and finance lease obligations.