Leases

12 Months Ended

Jan. 31, 2025

Leases [Abstract]

Leases

Leases

The Company leases certain retail locations, distribution and fulfillment centers, warehouses, office spaces, land and equipment throughout the U.S. and internationally. The Company's lease costs recognized in the Consolidated Statements of Income consist of the following:

	Fiscal years ended January 31,
(Amounts in millions)	2025		2024		2023
Operating lease cost	$	2,347	$	2,277	$	2,306
Finance lease cost:
Amortization of right-of-use assets	891		755		596
Interest on lease obligations	381		326		256
Variable lease cost	1,145		1,082		899

Other lease information is as follows:

	Fiscal years ended January 31,
(Amounts in millions)	2025		2024	2023
Cash paid for amounts included in measurement of lease obligations:
Operating cash flows from operating leases	$	2,390	2,273	2,280
Operating cash flows from finance leases	375		315	248
Financing cash flows from finance leases	908		1,055	563
Assets obtained in exchange for operating lease obligations	1,974		1,514	1,714
Assets obtained in exchange for finance lease obligations	1,455		1,572	1,226

	As of January 31,
	2025	2024
Weighted-average remaining lease term - operating leases	11.3 years	11.7 years
Weighted-average remaining lease term - finance leases	11.7 years	12.4 years
Weighted-average discount rate - operating leases	6.5%	6.4%
Weighted-average discount rate - finance leases	6.7%	6.8%

The aggregate annual lease obligations at January 31, 2025, are as follows:

(Amounts in millions)
Fiscal Year	Operating Leases		Finance Leases
2026	$	2,160	$	1,153
2027	2,111		1,086
2028	1,986		987
2029	1,835		808
2030	1,674		661
Thereafter	10,837		5,843
Total undiscounted lease obligations	20,603		10,538
Less imputed interest	(6,279)		(3,815)
Net lease obligations	$	14,324	$	6,723

Leases

Leases

The Company leases certain retail locations, distribution and fulfillment centers, warehouses, office spaces, land and equipment throughout the U.S. and internationally. The Company's lease costs recognized in the Consolidated Statements of Income consist of the following:

	Fiscal years ended January 31,
(Amounts in millions)	2025		2024		2023
Operating lease cost	$	2,347	$	2,277	$	2,306
Finance lease cost:
Amortization of right-of-use assets	891		755		596
Interest on lease obligations	381		326		256
Variable lease cost	1,145		1,082		899

Other lease information is as follows:

	Fiscal years ended January 31,
(Amounts in millions)	2025		2024	2023
Cash paid for amounts included in measurement of lease obligations:
Operating cash flows from operating leases	$	2,390	2,273	2,280
Operating cash flows from finance leases	375		315	248
Financing cash flows from finance leases	908		1,055	563
Assets obtained in exchange for operating lease obligations	1,974		1,514	1,714
Assets obtained in exchange for finance lease obligations	1,455		1,572	1,226

	As of January 31,
	2025	2024
Weighted-average remaining lease term - operating leases	11.3 years	11.7 years
Weighted-average remaining lease term - finance leases	11.7 years	12.4 years
Weighted-average discount rate - operating leases	6.5%	6.4%
Weighted-average discount rate - finance leases	6.7%	6.8%

The aggregate annual lease obligations at January 31, 2025, are as follows:

(Amounts in millions)
Fiscal Year	Operating Leases		Finance Leases
2026	$	2,160	$	1,153
2027	2,111		1,086
2028	1,986		987
2029	1,835		808
2030	1,674		661
Thereafter	10,837		5,843
Total undiscounted lease obligations	20,603		10,538
Less imputed interest	(6,279)		(3,815)
Net lease obligations	$	14,324	$	6,723