PROPERTY AND LEASES

6 Months Ended

Jul. 28, 2024

PROPERTY AND LEASES

Net Property and Equipment

Net property and equipment included accumulated depreciation and finance lease amortization of $28.3 billion as of July 28, 2024 and $27.1 billion as of January 28, 2024.

Leases

The following table presents the consolidated balance sheet classification related to operating and finance leases:


in millions	Consolidated Balance Sheet Classification	July 28, 2024		January 28, 2024
Assets:
Operating lease assets	Operating lease right-of-use assets	$	8,613	$	7,884
Finance lease assets (1)	Net property and equipment	2,754		2,840
Total lease assets		$	11,367	$	10,724
Liabilities:
Current:
Operating lease liabilities	Current operating lease liabilities	$	1,242	$	1,050
Finance lease liabilities	Current installments of long-term debt	273		268
Long-term:
Operating lease liabilities	Long-term operating lease liabilities	7,635		7,082
Finance lease liabilities	Long-term debt, excluding current installments	2,923		3,000
Total lease liabilities		$	12,073	$	11,400

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(1) Finance lease assets are recorded net of accumulated amortization of $1.4 billion as of July 28, 2024 and $1.2 billion as of January 28, 2024.

The following table presents supplemental non-cash information related to leases:


	Six Months Ended
in millions	July 28, 2024		July 30, 2023
Lease assets obtained in exchange for new operating lease liabilities	$	670	$	583
Lease assets obtained in exchange for new finance lease liabilities	74		192