Investments

9 Months Ended

Oct. 30, 2020

Investments, Debt and Equity Securities [Abstract]

Investments

Investments - Available-for-sale debt securities are recorded at fair value, and unrealized gains and losses are recorded, net of tax, as a component of accumulated other comprehensive loss. Net unrealized gains on available-for-sale debt securities as of October 30, 2020, November 1, 2019, and January 31, 2020, were not material. Refer to Note 4 for the fair value of the Company’s available-for-sale debt securities by investment type.Held-to-maturity securities are U.S. Treasury bills which the Company has the ability and intent to hold until maturity and are stated at amortized cost. Gross unrecognized holding gains and losses on the Company’s held-to-maturity securities were not material as of October 30, 2020.

The Company’s investments are as follows:

(In millions)	October 30, 2020		November 1, 2019		January 31, 2020
Short-term investments:
Available-for-sale debt securities	$	702	127		$	160
Held-to-maturity securities	1,150		—		—
Total short-term investments	$	1,852	$	127	$	160
Long-term investments:
Available-for-sale debt securities	$	202	$	363	$	372
Total long-term investments	$	202	$	363	$	372

The maturities of available-for-sale and held-to-maturity securities at October 30, 2020, are as follows:

	Available-for-Sale
(In millions)	Cost Basis		Fair Value		Held-to-Maturity
Due in one year or less	$	699	$	702	$	1,150
Due after one year through five years	198		202		—
Total	$	897	$	904	$	1,150

Restricted Investments

Short-term and long-term investments include restricted balances pledged as collateral primarily for the Company’s extended protection plan program. Restricted balances included in short-term investments were $402 million at October 30, 2020, $127 million at November 1, 2019, and $160 million at January 31, 2020.

Restricted balances included in long-term investments were $202 million at October 30, 2020, $363 million at November 1, 2019, and $372 million at January 31, 2020.