v3.26.1
Debt
 6 Months Ended
Jul. 26, 2026
Debt Disclosure [Abstract]  
Debt Debt
Expected
Remaining Term (years)		Effective
Interest Rate
Jul 26, 2026Jan 25, 2026
(In millions)
3.20% Notes Due 2026
0.13.31%$1,000 $1,000 
4.25% Notes Due 2028
1.94.39%3,500 — 
1.55% Notes Due 2028
1.91.64%1,250 1,250 
4.35% Notes Due 2029
2.94.45%3,500 — 
2.85% Notes Due 2030
3.72.93%1,500 1,500 
4.50% Notes Due 2031
4.94.60%4,000 — 
2.00% Notes Due 2031
4.92.09%1,250 1,250 
4.75% Notes Due 2033
6.94.82%3,500 — 
4.95% Notes Due 2036
9.95.01%4,000 — 
3.50% Notes Due 2040
13.73.54%1,000 1,000 
5.55% Notes Due 2046
19.95.61%3,000 — 
3.50% Notes Due 2050
23.73.54%2,000 2,000 
5.625% Notes Due 2056
29.95.66%3,500 — 
3.70% Notes Due 2060
33.73.73%500 500 
Unamortized debt discount and issuance costs(134)(32)
Net carrying amount
$33,366 $8,468 
Less short-term portion(1,000)(999)
Total long-term portion$32,366 $7,469 
In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.
As of July 26, 2026, and January 25, 2026, the estimated fair value of debt was $31.4 billion and $7.5 billion, respectively. The estimated fair values are based on Level 2 inputs.
Our notes are unsecured senior obligations. Existing and future liabilities of our subsidiaries will be effectively senior to the notes. Our notes pay interest semi-annually. We may redeem each of our notes prior to maturity, subject to a make-whole premium. The maturity dates of the notes are stated by calendar year.
As of July 26, 2026, we complied with the required covenants under the outstanding notes.
As of July 26, 2026, our commercial paper program had a capacity of $25.0 billion, with no amounts outstanding.