Leases

6 Months Ended

Jul. 28, 2024

Our lease obligations primarily consist of operating leases for our headquarters complex, domestic and international office facilities, and data center space, with lease periods expiring between fiscal years 2025 and 2035.

Future minimum lease payments under our non-cancelable operating leases as of July 28, 2024 were as follows:


	Operating Lease Obligations
	(In millions)
Fiscal Year:
2025 (excluding first half of fiscal year 2025)	$	144
2026	316
2027	299
2028	280
2029	247
2030 and thereafter	486
Total	1,772
Less imputed interest	218
Present value of net future minimum lease payments	1,554
Less short-term operating lease liabilities	250
Long-term operating lease liabilities	$	1,304

In addition, operating leases of $1.0 billion, primarily for our data centers, are expected to commence during fiscal year 2025 with lease terms of 2 to 10.5 years.

Operating lease expenses were $84 million and $67 million for the second quarter of fiscal years 2025 and 2024, respectively, and $164 million and $126 million for the first half of fiscal years 2025 and 2024, respectively. Short-term and variable lease expenses for the second quarter and first half of fiscal years 2025 and 2024 were not significant.

Other information related to leases was as follows:


	Six Months Ended
	Jul 28, 2024		Jul 30, 2023

	(In millions)
Supplemental cash flows information
Operating cash flow used for operating leases	$	146	$	135
Operating lease assets obtained in exchange for lease obligations	$	405	$	299

As of July 28, 2024, our operating leases had a weighted average remaining lease term of 6.4 years and a weighted average discount rate of 4.03%. As of January 28, 2024, our operating leases had a weighted average remaining lease term of 6.1 years and a weighted average discount rate of 3.76%.