Debt |
3 Months Ended |
|---|---|
May 02, 2026 | |
| Debt Disclosure [Abstract] | |
| Debt | Debt As of May 2, 2026, May 3, 2025 and January 31, 2026, there was $4,166.1 million, $1,480.7 million and $4,164.3 million of outstanding debt, respectively. In addition, $8.9 million, $11.4 million and $7.5 million of debt associated with the French disposal group was classified as current and included in Liabilities held for sale in the condensed consolidated balance sheets as of those dates. Convertible Senior Notes Convertible 2030 Notes On April 1, 2025, we completed a private offering of $1,500.0 million aggregate principal amount of the Convertible 2030 Notes, including the exercise in full of the initial purchaser's option to purchase up to an additional $200 million aggregate principal amount of the Convertible 2030 Notes. The Convertible 2030 Notes are general unsecured obligations of the Company. The Convertible 2030 Notes were issued pursuant to an Indenture, dated April 1, 2025 (the "2030 Indenture"), between the Company and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”). As of May 2, 2026, the balance of the Convertible 2030 Notes, net of debt issuance costs of $15.4 million was $1,484.6 million. The Company determines the fair value of its Convertible 2030 Notes in accordance with ASC 820, Fair Value Measurement, using observable market inputs on a secondary market exchange (Level 2 input). As of May 2, 2026, the fair value of the Convertible 2030 Notes was approximately $1,675.4 million. Convertible 2032 Notes On June 17, 2025, we completed a private offering of $2,250.0 million aggregate principal amount of the Convertible 2032 Notes. Pursuant to the purchase agreement between the Company and the initial purchaser of the Convertible 2032 Notes, the Company granted the initial purchaser an option to purchase up to an additional $450.0 million aggregate principal amount of the Convertible 2032 Notes (the "Additional Notes"). On June 23, 2025, the initial purchaser elected to exercise in full such option, and on June 24, 2025, the Company issued the full aggregate principal amount of the Additional Notes. The Convertible 2032 Notes are general unsecured obligations of the Company. The Convertible 2032 Notes were issued pursuant to an Indenture, dated June 17, 2025 (the "2032 Indenture"), between the Company and the Trustee, as trustee. As of May 2, 2026, the balance of the Convertible 2032 Notes, net of debt issuance costs of $18.5 million was $2,681.5 million. The Company determines the fair value of its Convertible 2032 Notes in accordance with ASC 820, Fair Value Measurement, using observable market inputs on a secondary market exchange (Level 2 input). As of May 2, 2026, the fair value of the Convertible 2032 Notes was approximately $3,000.5 million. Credit Facilities We maintain uncommitted letter of credit facilities with certain banks that provide for the issuance of letters of credit and bank guarantees, at times supported by cash collateral. See Note 6, "Commitments and Contingencies," for further information regarding outstanding stand-by letters of credit and other bank guarantees.
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