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Debt
 3 Months Ended
May 03, 2025
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)May 3, 2025February 1, 2025May 4, 2024
3.375% Senior Notes due 2024
$— $— $249,827 
4.600% Senior Notes due 2025
— 699,731 698,763 
0.875% Senior Notes due 2026
498,812 498,503 497,576 
4.700% Senior Notes due 2027
240,890 240,778 240,445 
4.800% Senior Notes due 2030
132,998 132,953 132,820 
1.875% Senior Notes due 2031
496,533 496,390 495,962 
5.450% Senior Notes due 2050
146,476 146,456 146,397 
Total long-term debt1
$1,515,709 $2,214,811 $2,461,790 
Less: current portion$498,812 $699,731 $948,590 
Total due beyond one year$1,016,897 $1,515,080 $1,513,200 
1 Net of unamortized discounts and debt issuance costs of $9.3 million, $10.2 million, and $13.2 million as of May 3, 2025, February 1, 2025, and May 4, 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 April 2025, the Company repaid at maturity the $700 million principal amount of the 4.600% Senior Notes.
The aggregate fair value of the remaining five outstanding series of Senior Notes was approximately $1.4 billion as of May 3, 2025. The aggregate fair value of the six then outstanding series of Senior Notes was approximately $2.1 billion as of February 1, 2025. The aggregate fair value of the seven then outstanding series of Senior Notes was approximately $2.3 billion as of May 4, 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.

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 May 3, 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.