The Company sells certain of its trade accounts receivable on a non-recourse basis to a third-party financial institution pursuant to a factoring arrangement. Total trade accounts receivable sold under the factoring arrangement was $111.1 million and $412.0 million for the three and six months ended August 1, 2026, respectively, of which $111.1 million remained subject to servicing by the Company as of August 1, 2026. Total trade accounts receivable sold under the factoring arrangement was $237.2 million and $526.8 million for the three and six months ended August 2, 2025, respectively, of which $142.0 million remained subject to servicing by the Company as of August 2, 2025. Factoring fees for the sales of receivables were recorded in Other expense, net and were not material for three and six months ended August 1, 2026 and August 2, 2025.


	August 1, 2026		January 31, 2026
Property and equipment, net:
Machinery and equipment	$	2,053.7	$	1,825.2
Land, buildings, and leasehold improvements	349.9		338.8
Computer software	147.3		137.1
Furniture and fixtures	45.1		41.5
	2,596.0		2,342.6
Less: Accumulated depreciation	(1,525.0)		(1,407.6)
Property and equipment, net	$	1,071.0	$	935.0


	August 1, 2026		January 31, 2026
Other non-current assets:
Prepaid ship and debits	$	588.0	$	584.2
Prepayments on supply capacity reservation agreements	487.0		278.8
Operating lease right-of-use assets	291.6		284.1
Technology licenses	256.9		296.3


Non-marketable equity investments	156.2		129.6
Other	241.8		153.9
Other non-current assets	$	2,021.5	$	1,726.9


	August 1, 2026		January 31, 2026
Accrued liabilities:
Variable consideration estimates (1)	$	777.7	$	713.8
Accrued income tax payable	163.7		228.3
Technology license obligations	96.2		84.1
Lease liabilities - current portion	59.3		56.5
Accrued restructuring	57.3		55.1



Other	271.6		199.3
Accrued liabilities	$	1,425.8	$	1,337.1

(1)Substantially all of the variable consideration estimate is comprised of the ship and debit claims accrual, but also includes estimated customer returns, price discounts, price protection, rebates, and stock rotation programs.


	August 1, 2026		January 31, 2026
Other non-current liabilities:
Contingent consideration liability	$	749.5	$	—
Lease liabilities - non-current	263.9		263.2
Non-current restructuring liabilities	175.7		193.9
Deferred tax liabilities	125.0		20.5
Technology license obligations	123.8		160.4
Non-current income tax payable	85.7		117.4
Other	37.0		30.2
Other non-current liabilities	$	1,560.6	$	785.6


	Unrealized Gain (Loss) on Cash Flow Hedges
Balance at February 1, 2025	$	0.4
Other comprehensive income (loss) before reclassifications	0.8
Amounts reclassified from accumulated other comprehensive income (loss)	(0.6)
Net current-period other comprehensive income (loss), net of tax	0.2
Balance at August 2, 2025	$	0.6

On September 24, 2025, the Company’s Board of Directors authorized a $5.0 billion addition to the balance of its existing stock repurchase program (collectively, the Stock Repurchase Program), increasing the total repurchase authority to $9.7 billion. The Company's stock repurchase program commenced in fiscal 2017, and has no fixed expiration. As of August 1, 2026, $5.1 billion remained available for future stock repurchases. The Company intends to effect stock repurchases in accordance with the conditions of Rule 10b-18 under the Exchange Act, but may also make repurchases in the open market outside of Rule 10b-18 or in privately negotiated transactions. The stock repurchase program is subject to market conditions, legal rules and regulations, and other factors, and does not obligate the Company to repurchase any dollar amount or number of shares of its common stock and the repurchase program may be extended, modified, suspended or discontinued at any time.

During the three and six months ended August 1, 2026, the Company repurchased 1.1 million and 2.5 million shares of its common stock for $200.0 million and $400.0 million, respectively, including 1.1 million and 1.9 million shares repurchased for $200.0 million and $320.0 million, respectively, pursuant to a 10b5-1 trading plan. During the three and six months ended August 2, 2025, the Company repurchased 2.7 million and 8.3 million shares of its common stock for $200.0 million and $540.0 million, respectively. The Company records all repurchases, as well as investment purchases and sales, based on their trade date. The repurchased shares are retired immediately after repurchases are completed.