DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

6 Months Ended

Jul. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Notional amounts of outstanding derivative instruments

	July 31, 2020		January 31, 2020
	(in millions)
Foreign exchange contracts:
Designated as cash flow hedging instruments	$	7,600	$	8,703
Non-designated as hedging instruments	7,507		7,711
Total	$	15,107	$	16,414
Interest rate contracts:
Non-designated as hedging instruments	$	5,333	$	4,043

Derivative instruments designated as hedging instruments

Derivatives in Cash Flow Hedging Relationships	Gain (Loss) Recognized in Accumulated OCI, Net of Tax, on Derivatives		Location of Gain (Loss) Reclassified from Accumulated OCI into Income	Gain (Loss) Reclassified from Accumulated OCI into Income
	(in millions)			(in millions)
For the three months ended July 31, 2020
			Total net revenue	$	9
Foreign exchange contracts	$	(257)	Total cost of net revenue	(1)
Interest rate contracts	—		Interest and other, net	—
Total	$	(257)		$	8
For the three months ended August 2, 2019
			Total net revenue	$	68
Foreign exchange contracts	$	105	Total cost of net revenue	—
Interest rate contracts	—		Interest and other, net	—
Total	$	105		$	68
For the six months ended July 31, 2020
			Total net revenue	$	105
Foreign exchange contracts	$	(90)	Total cost of net revenue	3
Interest rate contracts	—		Interest and other, net	—
Total	$	(90)		$	108
For the six months ended August 2, 2019
			Total net revenue	$	126
Foreign exchange contracts	$	257	Total cost of net revenue	—
Interest rate contracts	—		Interest and other, net	—
Total	$	257		$	126

Derivative instruments not designated as hedging instruments

	Three Months Ended				Six Months Ended
	July 31, 2020		August 2, 2019		July 31, 2020		August 2, 2019		Location of Gain (Loss) Recognized
	(in millions)
Gain (Loss) Recognized:
Foreign exchange contracts	$	162	$	7	$	214	$	(59)	Interest and other, net
Interest rate contracts	(5)		(15)		(44)		(22)		Interest and other, net
Total	$	157	$	(8)	$	170	$	(81)

Fair value of derivatives

The following tables present the fair value of those derivative instruments presented on a gross basis as of the dates indicated:

	July 31, 2020
	Other Current Assets		Other Non- Current Assets		Other Current Liabilities		Other Non-Current Liabilities		Total Fair Value
	(in millions)
Derivatives designated as hedging instruments:
Foreign exchange contracts in an asset position	$	15	$	—	$	16	$	—	$	31
Foreign exchange contracts in a liability position	(37)		—		(77)		—		(114)
Net asset (liability)	(22)		—		(61)		—		(83)
Derivatives not designated as hedging instruments:
Foreign exchange contracts in an asset position	472		1		80		—		553
Foreign exchange contracts in a liability position	(123)		—		(290)		(4)		(417)
Interest rate contracts in an asset position	—		10		—		—		10
Interest rate contracts in a liability position	—		—		—		(44)		(44)
Net asset (liability)	349		11		(210)		(48)		102
Total derivatives at fair value	$	327	$	11	$	(271)	$	(48)	$	19
	January 31, 2020
	Other Current Assets		Other Non- Current Assets		Other Current Liabilities		Other Non-Current Liabilities		Total Fair Value
	(in millions)
Derivatives designated as hedging instruments:
Foreign exchange contracts in an asset position	$	108	$	—	$	15	$	—	$	123
Foreign exchange contracts in a liability position	(2)		—		(3)		—		(5)
Net asset (liability)	106		—		12		—		118
Derivatives not designated as hedging instruments:
Foreign exchange contracts in an asset position	136		—		39		—		175
Foreign exchange contracts in a liability position	(162)		—		(81)		(6)		(249)
Interest rate contracts in an asset position	—		1		—		—		1
Interest rate contracts in a liability position	—		—		—		(32)		(32)
Net asset (liability)	(26)		1		(42)		(38)		(105)
Total derivatives at fair value	$	80	$	1	$	(30)	$	(38)	$	13

Offsetting assets

The following tables present the gross amounts of the Company’s derivative instruments, amounts offset due to master netting agreements with the Company’s counterparties, and the net amounts recognized in the Condensed Consolidated Statements of Financial Position as of the dates indicated:

	July 31, 2020
	Gross Amounts of Recognized Assets/ (Liabilities)		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Assets/ (Liabilities) Presented in the Statement of Financial Position		Gross Amounts not Offset in the Statement of Financial Position				Net Amount
							Financial Instruments		Cash Collateral Received or Pledged
	(in millions)
Derivative instruments:
Financial assets	$	594	$	(256)	$	338	$	—	$	—	$	338
Financial liabilities	(575)		256		(319)		—		—		(319)
Total derivative instruments	$	19	$	—	$	19	$	—	$	—	$	19
	January 31, 2020
	Gross Amounts of Recognized Assets/ (Liabilities)		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Assets/ (Liabilities) Presented in the Statement of Financial Position		Gross Amounts not Offset in the Statement of Financial Position				Net Amount
							Financial Instruments		Cash Collateral Received or Pledged
	(in millions)
Derivative instruments:
Financial assets	$	299	$	(218)	$	81	$	—	$	—	$	81
Financial liabilities	(286)		218		(68)		—		15		(53)
Total derivative instruments	$	13	$	—	$	13	$	—	$	15	$	28

Offsetting liabilities

The following tables present the gross amounts of the Company’s derivative instruments, amounts offset due to master netting agreements with the Company’s counterparties, and the net amounts recognized in the Condensed Consolidated Statements of Financial Position as of the dates indicated:

	July 31, 2020
	Gross Amounts of Recognized Assets/ (Liabilities)		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Assets/ (Liabilities) Presented in the Statement of Financial Position		Gross Amounts not Offset in the Statement of Financial Position				Net Amount
							Financial Instruments		Cash Collateral Received or Pledged
	(in millions)
Derivative instruments:
Financial assets	$	594	$	(256)	$	338	$	—	$	—	$	338
Financial liabilities	(575)		256		(319)		—		—		(319)
Total derivative instruments	$	19	$	—	$	19	$	—	$	—	$	19
	January 31, 2020
	Gross Amounts of Recognized Assets/ (Liabilities)		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Assets/ (Liabilities) Presented in the Statement of Financial Position		Gross Amounts not Offset in the Statement of Financial Position				Net Amount
							Financial Instruments		Cash Collateral Received or Pledged
	(in millions)
Derivative instruments:
Financial assets	$	299	$	(218)	$	81	$	—	$	—	$	81
Financial liabilities	(286)		218		(68)		—		15		(53)
Total derivative instruments	$	13	$	—	$	13	$	—	$	15	$	28