The Company enters into leasing transactions in which the Company is the lessee. These lease contracts are typically classified as operating leases. The Company’s lease contracts are generally for office space used to conduct its business, and the determination of whether such contracts contain leases generally does not require significant estimates or judgments. The Company also leases certain property, equipment, and warehouses. As of July 31, 2026, the remaining terms of the Company’s leases generally range from one month to approximately ten years. As of July 31, 2026 and January 30, 2026, there were no material finance leases in which the Company was a lessee.

The Company also enters into leasing transactions in which the Company is the lessor, primarily through customer financing arrangements offered under DFS. DFS originates leases that are primarily classified as either sales-type leases or operating leases. See Note 4 of the Notes to the Condensed Consolidated Financial Statements for more information about the Company’s lessor arrangements.

During the three and six months ended July 31, 2026 and August 1, 2025, total lease costs, inclusive of operating lease costs, variable costs, finance lease costs, and short-term lease costs, were immaterial.

The following table presents supplemental information related to operating leases included in the Condensed Consolidated Statements of Financial Position as of the dates indicated:


	Classification	July 31, 2026			January 30, 2026

		(in millions, except for term and discount rate)
Operating lease right-of-use assets	Other non-current assets	$	729		$	640

Current operating lease liabilities	Accrued and other current liabilities	$	253		$	246
Non-current operating lease liabilities	Other non-current liabilities	552			481
Total operating lease liabilities		$	805		$	727

Weighted-average remaining lease term (in years)		4.47			4.11
Weighted-average discount rate		5.22		%	4.74		%

During the six months ended July 31, 2026 and August 1, 2025, cash paid for amounts included in the measurement of lease liabilities and right-of-use assets obtained in exchange for new operating lease liabilities were immaterial.

The following table presents the future maturity of the Company’s operating lease liabilities under non-cancelable leases and reconciles the undiscounted cash flows for these leases to the lease liability recognized on the Condensed Consolidated Statements of Financial Position as of the date indicated:


	July 31, 2026

	(in millions)
Fiscal 2027 (remaining six months)	$	128
Fiscal 2028	238
Fiscal 2029	188
Fiscal 2030	135
Fiscal 2031	91
Thereafter	124
Total lease payments	904
Less: Imputed interest	(99)
Total	$	805
Current operating lease liabilities	$	253
Non-current operating lease liabilities	$	552