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Debt
 12 Months Ended
Feb. 01, 2025
Debt Disclosure [Abstract]  
Debt Debt
Long-term debt. Unsecured senior debt (the “Senior Notes”), net of unamortized discounts and debt issuance costs, as of February 1, 2025 and February 3, 2024 consisted of the following:

($000)20242023
3.375% Senior Notes due 2024
$— $249,713 
4.600% Senior Notes due 2025
699,731 698,441 
0.875% Senior Notes due 2026
498,503 497,268 
4.700% Senior Notes due 2027
240,778 240,335 
4.800% Senior Notes due 2030
132,953 132,776 
1.875% Senior Notes due 2031
496,390 495,820 
5.450% Senior Notes due 2050
146,456 146,377 
Total long-term debt1
$2,214,811 $2,460,730 
Less: current portion$699,731 $249,713 
Total due beyond one year$1,515,080 $2,211,017 
1 Net of unamortized discount and debt issuance costs of $10.2 million and $14.3 million as of February 1, 2025 and February 3, 2024, respectively.

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

In September 2024, the Company repaid at maturity the $250 million principal amount of the 3.375% Senior Notes.

The aggregate fair value of the remaining six outstanding series of Senior Notes was approximately $2.1 billion as of February 1, 2025. The aggregate fair value of the seven outstanding series of Senior Notes was approximately $2.3 billion as of February 3, 2024. 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.

The following table shows scheduled annual principal payments on long-term debt:

($000)
2025$700,000 
2026$500,000 
2027$241,786 
Thereafter$783,205 
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 February 1, 2025, 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.