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Commercial Paper and Long-Term Debt
 12 Months Ended
Feb. 01, 2025
Debt Disclosure [Abstract]  
Commercial Paper and Long-Term Debt Commercial Paper and Long-Term Debt
Debt Maturities
(dollars in millions)
Weighted-Average Interest Rate at February 1, 2025
February 1, 2025February 3, 2024
Due 2024— %$— $1,000 
Due 2025-20292.7 4,671 4,666 
Due 2030-20344.1 3,965 3,221 
Due 2035-20396.8 938 937 
Due 2040-20444.0 1,089 1,088 
Due 2045-20493.8 1,120 1,119 
Due 2050-20543.9 2,121 2,120 
Total notes and debentures13,904 14,151 
Swap valuation adjustments (125)(126)
Finance lease liabilities 2,161 2,013 
Less: Amounts due within one year (1,636)(1,116)
Long-term debt and other borrowings $14,304 $14,922 

Required Principal Payments
(millions)
20252026202720282029Thereafter
Total required principal payments$1,500 $2,000 $97 $81 $1,000 $9,324 

In September 2024, we issued $750 million of unsecured debt with a fixed rate of 4.5 percent that matures in September 2034.

We obtain short-term financing from time to time under our commercial paper program. There was no commercial paper outstanding at any time during the year ended February 1, 2025, or as of February 3, 2024. During the year ended February 3, 2024, the maximum amount outstanding was $90 million, and the average daily amount outstanding was $1 million, at a weighted average annual interest rate of 4.8 percent.

In October 2024, we obtained a new committed $1.0 billion 364-day unsecured revolving credit facility that will expire in October 2025 and terminated our prior 364-day facility. We also have a committed $3.0 billion unsecured revolving credit facility that will expire in October 2028. No balances were outstanding under our credit facilities at any time during 2024 or 2023.

Substantially all of our outstanding borrowings are senior, unsecured obligations. Most of our long-term debt obligations contain covenants related to secured debt levels. In addition to a secured debt level covenant, our credit facilities also contain a debt leverage covenant. We are, and expect to remain, in compliance with these covenants, which have no practical effect on our ability to pay dividends.