Fair Value Measurements

3 Months Ended

May 02, 2026

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair Value Measurements

FASB ASC 820, Fair Value Measurement, establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value. The inputs used to measure fair value include: Level 1, observable inputs such as quoted prices in active markets; Level 2, inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, unobservable inputs in which little or no market data exists. This fair value hierarchy requires the Company to develop its own assumptions, maximize the use of observable inputs, and minimize the use of unobservable inputs when measuring fair value.

The underlying assets held in Cash and cash equivalents, and restricted cash and cash equivalents include bank deposits, money market mutual funds, and U.S. Government and agency securities for which the fair value is determined using quoted prices for identical assets in active markets, which are considered Level 1 inputs. The fair values of Cash and cash equivalents, and restricted cash and cash equivalents as of May 2, 2026, January 31, 2026, and May 3, 2025 were as follows:

($000)	May 2, 2026		January 31, 2026		May 3, 2025
Cash and cash equivalents (Level 1)	$	4,130,980	$	4,594,392	$	3,783,413
Restricted cash and cash equivalents (Level 1)	$	68,184	$	67,581	$	65,577

As of May 2, 2026 and January 31, 2026, the underlying assets in the Company’s nonqualified deferred compensation program consisted of participant-directed mutual funds (Level 1) and fixed-income securities (Level 2). The mutual funds all have quoted market prices in active markets and are classified as Level 1. The fixed-income securities are measured at contract value, which represents the amount available to participants upon withdrawal and are classified as Level 2. As of May 3, 2025, the underlying assets primarily consisted of participant-directed mutual funds that had quoted market prices in active markets and were classified as Level 1.

The fair value of the Company’s nonqualified deferred compensation program assets (included in Other long-term assets and Other long-term liabilities on the Condensed Consolidated Balance Sheets) as of May 2, 2026, January 31, 2026, and May 3, 2025 were as follows:

($000)	May 2, 2026		January 31, 2026		May 3, 2025
Mutual funds (Level 1)	$	177,384	$	181,532	$	195,123
Fixed-income securities (Level 2)	42,552		37,122		—
Total	$	219,936	$	218,654	$	195,123