Debt |
6 Months Ended |
|---|---|
Aug. 01, 2026 | |
| Debt Disclosure [Abstract] | |
| Debt | Debt As of August 1, 2026, August 2, 2025 and January 31, 2026, there was $4,167.8 million, $4,160.9 million and $4,164.3 million of outstanding debt, respectively. Convertible Senior Notes Convertible 2030 Notes On April 1, 2025, we completed a private offering of $1,500.0 million aggregate principal amount of our 0.00% Convertible Senior Notes due 2030 Notes (the "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 2030 Notes. The 2030 Notes are general unsecured obligations of the Company. The 2030 Notes were issued pursuant to an Indenture, dated April 1, 2025, between the Company and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”). As of August 1, 2026, the balance of the 2030 Notes, net of debt issuance costs of $14.4 million was $1,485.6 million. The Company determines the fair value of its 2030 Notes in accordance with ASC 820, Fair Value Measurement, using observable market inputs on a secondary market exchange (Level 2 input). As of August 1, 2026, the fair value of the 2030 Notes was approximately $1,509.8 million. Convertible 2032 Notes On June 17, 2025, we completed a private offering of $2,250.0 million aggregate principal amount of our 0.00% Convertible Senior Notes due 2032 (the "2032 Notes", and together with the 2030 Notes, the “Convertible Notes”), plus the exercise in full of the initial purchaser’s option to purchase up to an additional $450.0 million aggregate principal amount of the 2032 Notes. The 2032 Notes are general unsecured obligations of the Company. The 2032 Notes were issued pursuant to an Indenture, dated June 17, 2025, between the Company and the Trustee, as trustee. As of August 1, 2026, the balance of the 2032 Notes, net of debt issuance costs of $17.8 million was $2,682.2 million. The Company determines the fair value of its 2032 Notes in accordance with ASC 820, Fair Value Measurement, using observable market inputs on a secondary market exchange (Level 2 input). As of August 1, 2026, the fair value of the 2032 Notes was approximately $2,701.2 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.
|