Debt

6 Months Ended

Jul. 28, 2024

Debt Disclosure [Abstract]

Debt

Debt

Long-Term Debt

	Expected Remaining Term (years)	Effective Interest Rate	Carrying Value at
			Jul 28, 2024		Jan 28, 2024
			(In millions)
0.584% Notes Due 2024 (1)	—	0.66%	$	—	$	1,250
3.20% Notes Due 2026	2.1	3.31%	1,000		1,000
1.55% Notes Due 2028	3.9	1.64%	1,250		1,250
2.85% Notes Due 2030	5.7	2.93%	1,500		1,500
2.00% Notes Due 2031	6.9	2.09%	1,250		1,250
3.50% Notes Due 2040	15.7	3.54%	1,000		1,000
3.50% Notes Due 2050	25.7	3.54%	2,000		2,000
3.70% Notes Due 2060	35.7	3.73%	500		500
Unamortized debt discount and issuance costs			(39)		(41)
Net carrying amount			8,461		9,709
Less short-term portion			—		(1,250)
Total long-term portion			$	8,461	$	8,459

(1) We repaid the 0.584% Notes Due 2024 in the second quarter of fiscal year 2025.

Our notes are unsecured senior obligations. Existing and future liabilities of our subsidiaries will be effectively senior to the notes. Our notes pay interest semi-annually. We may redeem each of our notes prior to maturity, as defined in the applicable form of note. The maturity of the notes are calendar year.

As of July 28, 2024, we complied with the required covenants, which are non-financial in nature, under the outstanding notes.

Commercial Paper

We have a $575 million commercial paper program to support general corporate purposes. As of July 28, 2024, we had no commercial paper outstanding.