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Leases and Other Commitments
 12 Months Ended
Jan. 31, 2022
Commitments and Contingencies Disclosure [Abstract]  
Leases and Other Commitments Leases and Other Commitments
Leases
The Company has operating leases for corporate offices, data centers, and equipment under noncancellable operating leases with various expiration dates. The leases have noncancellable remaining terms of 1 year to 18 years, some of which include options to extend for up to 5 years, and some of which include options to terminate within 1 year.
The components of lease expense were as follows (in millions):
Fiscal Year Ended January 31,
20222021
Operating lease cost$1,080 $1,208 
Finance lease cost:
Amortization of right-of-use assets $125 $73 
Interest on lease liabilities 5 15 
Total finance lease cost$130 $88 
Supplemental cash flow information related to operating and finance leases was as follows (in millions):
Fiscal Year Ended January 31,
20222021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows for operating leases$873 $905 
Operating cash outflows for finance leases 5 14
Financing cash outflows for finance leases74 48
Right-of-use assets obtained in exchange for lease obligations:
Operating leases364 979
Supplemental balance sheet information related to operating and finance leases was as follows (in millions):
As of January 31,
20222021
Operating leases:
Operating lease right-of-use assets$2,880 $3,204 
Operating lease liabilities, current$686 $766 
Noncurrent operating lease liabilities2,703 2,842 
Total operating lease liabilities$3,389 $3,608 
Finance leases:
Computers, equipment and software$928 $604 
Accumulated depreciation(528)(410)
Property and equipment, net$400 $194 
Accrued expenses and other liabilities $114 $35 
Other noncurrent liabilities 271 93 
Total finance lease liabilities$385 $128 
Other information related to leases was as follows:
As of January 31,
20222021
Weighted average remaining lease term
Operating leases7 years7 years
Finance leases3 years4 years
Weighted average discount rate
Operating leases2.1 %2.2 %
Finance leases1.9 %1.9 %
As of January 31, 2022, the maturities of lease liabilities under noncancellable operating and finance leases were as follows (in millions):
Operating Leases Finance Leases
Fiscal Period:
Fiscal 2023$745 $120 
Fiscal 2024561 121 
Fiscal 2025483 112 
Fiscal 2026417 45 
Fiscal 2027369 0 
Thereafter1,076 0 
Total minimum lease payments3,651 398 
Less: Imputed interest(262)(13)
Total$3,389 $385 
Operating lease amounts above do not include sublease income. The Company has entered into various sublease agreements with third parties. Under these agreements, the Company expects to receive sublease income of approximately $244 million in the next five years and $78 million thereafter.
As of January 31, 2022, the Company had additional leases that had not yet commenced totaling $1.1 billion and therefore are not reflected on the consolidated balance sheet and tables above. These leases include agreements for office facilities to be constructed. These leases will commence between fiscal year 2023 and fiscal year 2025 with lease terms of 3 to 18 years.
Of the total lease commitment balance, including leases not yet commenced, of $5.2 billion, approximately $4.6 billion is related to facilities space. The remaining commitment amount is primarily related to equipment.
Letters of Credit
As of January 31, 2022, the Company had a total of $130 million in letters of credit outstanding substantially in favor of certain landlords for office space. These letters of credit renew annually and expire at various dates through 2034.