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Debt
 6 Months Ended
Aug. 03, 2024
Debt Disclosure [Abstract]  
Debt Debt
Senior Notes. Unsecured senior debt (the “Senior Notes”), net of unamortized discounts and debt issuance costs, consisted of the following:

($000)August 3, 2024February 3, 2024July 29, 2023
3.375% Senior Notes due 2024
$249,943 $249,713 $249,484 
4.600% Senior Notes due 2025
699,085 698,441 697,800 
0.875% Senior Notes due 2026
497,885 497,268 496,652 
4.700% Senior Notes due 2027
240,555 240,335 240,116 
4.800% Senior Notes due 2030
132,864 132,776 132,688 
1.875% Senior Notes due 2031
496,105 495,820 495,537 
5.450% Senior Notes due 2050
146,417 146,377 146,338 
Total long-term debt1
$2,462,854 $2,460,730 $2,458,615 
Less: current portion$949,028 $249,713 $— 
Total due beyond one year$1,513,826 $2,211,017 $2,458,615 
1 Net of unamortized discounts and debt issuance costs of $12.1 million, $14.3 million, and $16.4 million as of August 3, 2024, February 3, 2024, and July 29, 2023, respectively.

Interest on all Senior Notes is payable semi-annually and the Senior Notes are subject to prepayment penalties for early payment of principal.

The aggregate fair value of the seven outstanding series of Senior Notes was approximately $2.4 billion as of August 3, 2024, and approximately $2.3 billion as of February 3, 2024 and July 29, 2023. The fair value is estimated by obtaining comparable market quotes which are considered to be Level 1 inputs under the fair value measurements and disclosures guidance.
Revolving credit facilities. The Company’s $1.3 billion senior unsecured revolving credit facility (“Credit Facility”) expires in February 2027 and may be extended at the Company’s request for up to two additional one-year periods subject to customary conditions. The Credit Facility contains a $300 million sublimit for issuance of standby letters of credit. It also contains an option allowing the Company to increase the size of its Credit Facility by up to an additional $700 million, with the agreement of the committing lenders. Interest on borrowings under this Credit Facility is a term rate based on the Secured Overnight Financing Rate (“Term SOFR”) (or an alternate benchmark rate, if Term SOFR is no longer available) plus an applicable margin and is payable quarterly and upon maturity.

The Credit Facility is subject to a quarterly Consolidated Adjusted Debt to Consolidated EBITDAR financial leverage ratio covenant. As of August 3, 2024, the Company was in compliance with the financial covenant, had no borrowings or standby letters of credit outstanding under the Credit Facility, and the $1.3 billion Credit Facility remained in place and available.

The table below shows the components of interest income for the three and six month periods ended August 3, 2024 and July 29, 2023:

Three Months EndedSix Months Ended
($000)August 3, 2024July 29, 2023August 3, 2024July 29, 2023
Interest expense on long-term debt$21,142 $21,133 $42,317 $42,299 
Other interest expense367 372 725 745 
Capitalized interest(4,577)(2,818)(8,842)(4,926)
Interest income(60,282)(55,901)(123,500)(106,729)
Interest income, net$(43,350)$(37,214)$(89,300)$(68,611)