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Leases (Tables)
 12 Months Ended
Jan. 31, 2020
Leases [Abstract]  
Operating and Finance Leases, Assets and Liabilities
The table below presents the lease-related assets and liabilities recorded on the balance sheet.
Leases
(In millions)
Classification
January 31, 2020
Assets
 
 
Operating lease assets
Operating lease right-of-use assets
$
3,891

Finance lease assets
Property, less accumulated depreciation 1
555

Total lease assets
 
4,446

 
 
 
Liabilities
 
 
Current
 
 
Operating
Current operating lease liabilities
501

Finance
Current maturities of long-term debt
72

Noncurrent
 
 
Operating
Noncurrent operating lease liabilities
3,943

Finance
Long-term debt, excluding current maturities
612

Total lease liabilities
 
$
5,128

1 
Finance lease assets are recorded net of accumulated amortization of $42 million as of January 31, 2020.

Schedule of Finance and Operating Lease Costs
The table below presents the lease costs for finance and operating leases for the fiscal year ended January 31, 2020:
Lease Cost
(In millions)
Year Ended
January 31, 2020
Finance lease cost
 
Amortization of leased assets
$
45

Interest on lease liabilities
30

Operating lease cost 1
674

Variable lease cost
224

Total lease cost
$
973

1 
Includes short-term leases and sublease income, which are immaterial.
Operating Lease Liability, Maturity
The future minimum rental payments required under operating and finance lease obligations as of January 31, 2020, having initial or remaining non-cancelable lease terms in excess of one year are summarized as follows:
Maturity of lease liabilities
(In millions)
Operating Leases 1
Finance
Leases 2
Total
2020
$
624

$
104

$
728

2021
662

104

766

2022
684

107

791

2023
588

102

690

2024
498

94

592

After 2024
2,606

352

2,958

Total lease payments
5,662

863

6,525

Less: interest 3
(1,218
)
(179
)
(1,397
)
Present value of lease liabilities 4
$
4,444

$
684

$
5,128

1 
Operating lease payments include $279 million related to options to extend lease terms that are reasonably certain of being exercised and exclude $265 million of minimum lease payments for leases signed but not yet commenced.
2 
Finance lease payments include $11 million related to options to extend lease terms that are reasonably certain of being exercised and exclude $45 million of minimum lease payments for leases signed but not yet commenced.
3 
Calculated using the lease-specific incremental borrowing rate.
4 
Includes the current portion of $501 million for operating leases and $72 million for finance leases.
Finance Lease Liability, Maturity
The future minimum rental payments required under operating and finance lease obligations as of January 31, 2020, having initial or remaining non-cancelable lease terms in excess of one year are summarized as follows:
Maturity of lease liabilities
(In millions)
Operating Leases 1
Finance
Leases 2
Total
2020
$
624

$
104

$
728

2021
662

104

766

2022
684

107

791

2023
588

102

690

2024
498

94

592

After 2024
2,606

352

2,958

Total lease payments
5,662

863

6,525

Less: interest 3
(1,218
)
(179
)
(1,397
)
Present value of lease liabilities 4
$
4,444

$
684

$
5,128

1 
Operating lease payments include $279 million related to options to extend lease terms that are reasonably certain of being exercised and exclude $265 million of minimum lease payments for leases signed but not yet commenced.
2 
Finance lease payments include $11 million related to options to extend lease terms that are reasonably certain of being exercised and exclude $45 million of minimum lease payments for leases signed but not yet commenced.
3 
Calculated using the lease-specific incremental borrowing rate.
4 
Includes the current portion of $501 million for operating leases and $72 million for finance leases.
Operating and Finance Lease, Additional Information
Lease Term and Discount Rate
January 31, 2020
Weighted-average remaining lease term (years)
 
Operating leases
10.25

Finance leases
9.06

Weighted-average discount rate
 
Operating leases
4.10
%
Finance leases
5.64
%

Other Information
(In millions)
Year Ended
January 31, 2020
Cash paid for amounts included in the measurement of lease liabilities
 
Operating cash flows used for operating leases
$
825

Operating cash flows used for finance leases
30

Financing cash flows used for finance leases
57

Leased assets obtained in exchange for new finance lease liabilities
329

Leased assets obtained in exchange for new operating lease liabilities
551
Schedule of Future Minimum Rental Payments for Operating Leases Commitments as of February 1, 2019 were as follows:
 
February 1, 2019
Fiscal Year
(In millions)
Operating Leases
 
Capitalized Lease Obligations
 
Total
2019
$
595

 
$
133

 
$
728

2020
605

 
87

 
692

2021
564

 
90

 
654

2022
519

 
87

 
606

2023
473

 
86

 
559

Later years
2,609

 
783

 
3,392

Total minimum lease payments
$
5,365

 
$
1,266

 
$
6,631

Less amount representing interest
 
 
(492
)
 
 
Present value of minimum lease payments
 
 
774

 
 
Less current maturities
 
 
(65
)
 
 
Present value of minimum lease payments, less current maturities
 
 
$
709

 
 
Schedule of Future Minimum Lease Payments for Capital Leases Commitments as of February 1, 2019 were as follows:
 
February 1, 2019
Fiscal Year
(In millions)
Operating Leases
 
Capitalized Lease Obligations
 
Total
2019
$
595

 
$
133

 
$
728

2020
605

 
87

 
692

2021
564

 
90

 
654

2022
519

 
87

 
606

2023
473

 
86

 
559

Later years
2,609

 
783

 
3,392

Total minimum lease payments
$
5,365

 
$
1,266

 
$
6,631

Less amount representing interest
 
 
(492
)
 
 
Present value of minimum lease payments
 
 
774

 
 
Less current maturities
 
 
(65
)
 
 
Present value of minimum lease payments, less current maturities
 
 
$
709