Cash Equivalents and Marketable Securities

6 Months Ended

Jul. 28, 2024

Investments, Debt and Equity Securities [Abstract]

Cash Equivalents and Marketable Securities

Cash Equivalents and Marketable Securities 

The following is a summary of cash equivalents and marketable securities:

	Jul 28, 2024
	Amortized Cost		Unrealized Gain		Unrealized Loss		Estimated Fair Value		Reported as
									Cash Equivalents		Marketable Securities
	(In millions)
Debt securities issued by the U.S. Treasury	$	14,051	$	42	$	(10)	$	14,083	$	2,132	$	11,951
Corporate debt securities	11,994		37		(7)		12,024		682		11,342
Money market funds	5,252		—		—		5,252		5,252		—
Debt securities issued by U.S. government agencies	2,461		7		(2)		2,466		50		2,416
Certificates of deposit	141		—		—		141		32		109
Total marketable securities with fair value adjustments recorded in other comprehensive income	$	33,899	$	86	$	(19)	$	33,966	$	8,148	$	25,818
Publicly-held equity securities (1)							$	419	$	—	$	419
Total	$	33,899	$	86	$	(19)	$	34,385	$	8,148	$	26,237

(1)    Fair value adjustments on publicly-held equity securities are recorded in net income. In the second quarter of fiscal year 2025, publicly-held equity securities from investments in non-affiliated entities were classified in marketable securities on our Condensed Consolidated Balance Sheets.

For the second quarter and first half of fiscal year 2025, net unrealized gains on investments in publicly-held equity securities were $132 million and $181 million, respectively. For the second quarter and first half of fiscal year 2024, net unrealized gains on investments in publicly-held equity securities were not significant.

	Jan 28, 2024
	Amortized Cost		Unrealized Gain		Unrealized Loss		Estimated Fair Value		Reported as
									Cash Equivalents		Marketable Securities
	(In millions)
Corporate debt securities	$	10,126	$	31	$	(5)	$	10,152	$	2,231	$	7,921
Debt securities issued by the U.S. Treasury	9,517		17		(10)		9,524		1,315		8,209
Money market funds	3,031		—		—		3,031		3,031		—
Debt securities issued by U.S. government agencies	2,326		8		(1)		2,333		89		2,244
Certificates of deposit	510		—		—		510		294		216
Foreign government bonds	174		—		—		174		60		114
Total marketable securities with fair value changes recorded in other comprehensive income	$	25,684	$	56	$	(16)	$	25,724	$	7,020	$	18,704

The following tables provide the breakdown of unrealized losses, aggregated by investment category and length of time that individual debt securities have been in a continuous loss position:

	Jul 28, 2024
	Less than 12 Months				12 Months or Greater				Total
	Estimated Fair Value		Gross Unrealized Loss		Estimated Fair Value		Gross Unrealized Loss		Estimated Fair Value		Gross Unrealized Loss
	(In millions)
Debt securities issued by U.S. government agencies	$	4,031	$	(8)	$	857	$	(2)	$	4,888	$	(10)
Corporate debt securities	3,170		(5)		396		(2)		3,566		(7)
Debt securities issued by the U.S. Treasury	1,210		(1)		117		(1)		1,327		(2)
Total	$	8,411	$	(14)	$	1,370	$	(5)	$	9,781	$	(19)

	Jan 28, 2024
	Less than 12 Months				12 Months or Greater				Total
	Estimated Fair Value		Gross Unrealized Loss		Estimated Fair Value		Gross Unrealized Loss		Estimated Fair Value		Gross Unrealized Loss
	(In millions)
Debt securities issued by the U.S. Treasury	$	3,343	$	(5)	$	1,078	$	(5)	$	4,421	$	(10)
Corporate debt securities	1,306		(3)		618		(2)		1,924		(5)
Debt securities issued by U.S. government agencies	670		(1)		—		—		670		(1)
Total	$	5,319	$	(9)	$	1,696	$	(7)	$	7,015	$	(16)

Gross unrealized losses are related to fixed income securities, driven primarily by changes in interest rates.

The amortized cost and estimated fair value of debt securities included in cash equivalents and marketable securities are shown below by contractual maturity.

	Jul 28, 2024				Jan 28, 2024
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
	(In millions)
Less than one year	$	15,535	$	15,532	$	16,336	$	16,329
Due in 1 - 5 years	18,364		18,434		9,348		9,395
Total	$	33,899	$	33,966	$	25,684	$	25,724