LEASES (Tables)

9 Months Ended

Oct. 30, 2020

Components of lease expense and supplemental information

The following table presents components of lease costs included in the Condensed Consolidated Statements of Income (Loss) for the periods indicated:


	Three Months Ended				Nine Months Ended
	October 30, 2020		November 1, 2019		October 30, 2020		November 1, 2019
	(in millions)
Operating lease costs	$	129	$	134	$	384	$	377
Variable costs	37		41		113		120
Total lease costs	$	166	$	175	$	497	$	497

During both the nine months ended October 30, 2020 and November 1, 2019, sublease income, finance lease costs, and short-term lease costs were immaterial.

The following table presents supplemental information related to operating leases included in the Condensed Consolidated Statements of Financial Position as of the dates indicated:


	Classification	October 30, 2020			January 31, 2020
		(in millions, except for term and discount rate)
Operating lease right of use (“ROU”) assets	Other non-current assets	$	2,179		$	1,780

Current operating lease liabilities	Accrued and other current liabilities	$	424		$	432
Non-current operating lease liabilities	Other non-current liabilities	1,829			1,360
Total operating lease liabilities		$	2,253		$	1,792

Weighted-average remaining lease term (in years)		8.85			8.57
Weighted-average discount rate		3.56		%	3.81		%

The following table presents supplemental cash flow information related to leases for the periods indicated:


	Nine Months Ended
	October 30, 2020		November 1, 2019
	(in millions)
Cash paid for amounts included in the measurement of lease liabilities — operating cash outflows from operating leases	$	384	$	367

ROU assets obtained in exchange for new operating lease liabilities	$	763	$	495

Maturity of operating lease liabilities

The following table presents the future maturity of the Company’s operating lease liabilities under non-cancelable leases and reconciles the undiscounted cash flows for these leases to the lease liability recognized on the Condensed Consolidated Statements of Financial Position as of the date indicated:


	October 30, 2020
Fiscal Years	(in millions)
Fiscal 2021 (remaining three months)	$	110
Fiscal 2022	476
Fiscal 2023	429
Fiscal 2024	317
Fiscal 2025	237
Thereafter	1,131
Total lease payments	2,700
Less: Imputed interest	(447)
Total	$	2,253
Current operating lease liabilities	$	424
Non-current operating lease liabilities	$	1,829