Leases

6 Months Ended

Jul. 31, 2026

We have entered into operating lease agreements for our office space, data centers, and other property and equipment. Operating lease right-of-use assets were $680 million and $719 million as of July 31, 2026, and January 31, 2026, respectively, and operating lease liabilities were $783 million and $834 million as of July 31, 2026, and January 31, 2026, respectively.

The components of operating lease expense were as follows (in millions):


	Three Months Ended July 31,				Six Months Ended July 31,
	2026		2025		2026		2025
Operating lease cost	$	41	$	34	$	83	$	65
Short-term lease cost	0		0		0		1
Variable lease cost	18		13		33		24
Total operating lease cost	$	59	$	47	$	116	$	90

Supplemental cash flow information related to our operating leases was as follows (in millions):


	Six Months Ended July 31,
	2026		2025
Cash paid for operating lease liabilities	$	74	$	64
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities	28		434

Other information related to our operating leases was as follows:


	July 31, 2026		January 31, 2026
Weighted average remaining lease term (in years)	11		11
Weighted average discount rate	4.2	%	4.2	%

As of July 31, 2026, maturities of operating lease liabilities were as follows (in millions):


Fiscal Period:
Remainder of 2027	$	79
2028	158
2029	126
2030	90
2031	66
Thereafter	481
Total lease payments	1,000
Less: imputed interest	(217)
Total operating lease liabilities	$	783