Taxes (Tables)

12 Months Ended

Jan. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Income Before Income Taxes

The components of income before income taxes are as follows:

	Fiscal Years Ended January 31,
(Amounts in millions)	2025		2024		2023
U.S.	$	18,571	$	20,092	$	15,089
Non-U.S.	7,738		1,756		1,927
Total income before income taxes	$	26,309	$	21,848	$	17,016

Schedule of Income Tax Provision

A summary of the provision for income taxes is as follows:

	Fiscal Years Ended January 31,
(Amounts in millions)	2025		2024		2023
Current:
U.S. federal	$	3,478	$	3,215	$	2,030
U.S. state and local	886		762		610
International	2,451		1,772		2,654
Total current tax provision	6,815		5,749		5,294
Deferred:
U.S. federal	(214)		(438)		608
U.S. state and local	30		141		119
International	(479)		126		(297)
Total deferred tax expense (benefit)	(663)		(171)		430
Total provision for income taxes	$	6,152	$	5,578	$	5,724

Schedule of Income Tax Rate

A reconciliation of the significant differences between the U.S. statutory tax rate and the effective income tax rate on pre-tax income from continuing operations is as follows:

	Fiscal Years Ended January 31,
	2025		2024		2023
U.S. statutory tax rate	21.0	%	21.0	%	21.0	%
U.S. state income taxes, net of federal income tax benefit	2.8	%	3.0	%	3.1	%
Income taxed outside the U.S.	1.3	%	0.1	%	1.1	%
Separation, disposal and wind-down of certain business operations	—	%	—	%	6.3	%
Valuation allowance	0.4	%	1.2	%	1.7	%
Net impact of repatriated international earnings	(0.6)	%	(0.4)	%	(0.4)	%
Federal tax credits	(1.4)	%	(1.5)	%	(1.3)	%
Change in unrecognized tax benefits	0.3	%	0.6	%	0.3	%
Other, net	(0.4)	%	1.5	%	1.8	%
Effective income tax rate	23.4	%	25.5	%	33.6	%

Schedule of Deferred Tax Balances

The significant components of the Company's deferred tax account balances are as follows:

	January 31,
(Amounts in millions)	2025		2024
Deferred tax assets:
Loss and tax credit carryforwards	$	7,539	$	7,136
Accrued liabilities	3,009		3,066
Share-based compensation	263		238
Lease obligations	4,611		4,831
Other	1,076		1,124
Total deferred tax assets	16,498		16,395
Valuation allowances	(7,405)		(7,485)
Deferred tax assets, net of valuation allowances	9,093		8,910
Deferred tax liabilities:
Property and equipment	4,303		4,813
Acquired intangibles	1,096		898
Inventory	3,336		3,035
Lease right of use assets	4,816		4,941
Mark-to-market investments	353		322
Other	460		486
Total deferred tax liabilities	14,364		14,495
Net deferred tax liabilities	$	5,271	$	5,585

Schedule of Deferred Tax Classification in the Balance Sheet

The deferred taxes noted above are classified as follows in the Company's Consolidated Balance Sheets:

	January 31,
(Amounts in millions)	2025		2024
Balance Sheet classification
Assets:
Other long-term assets	$	1,748	$	1,663
Liabilities:
Deferred income taxes and other	7,019		7,248
Net deferred tax liabilities	$	5,271	$	5,585

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of gross unrecognized tax benefits from continuing operations is as follows:

	Fiscal Years Ended January 31,
(Amounts in millions)	2025		2024		2023
Gross unrecognized tax benefits, beginning of year	$	3,540	$	3,307	$	3,245
Increases related to prior year tax positions	445		336		79
Decreases related to prior year tax positions	(228)		(74)		(248)
Increases related to current year tax positions	93		102		357
Settlements during the period	(77)		(102)		(89)
Lapse in statutes of limitations	(16)		(29)		(37)
Gross unrecognized tax benefits, end of year	$	3,757	$	3,540	$	3,307