Leases (Tables)

12 Months Ended

Feb. 01, 2020

Leases [Abstract]

Supplemental Balance Sheet Information

	Balance Sheet Location	February 1, 2020
Assets
Operating leases	Operating lease assets	$	2,709
Finance leases	Property under finance leases, net(1)		35
Total lease assets		$	2,744
Liabilities
Current:
Operating leases	Current portion of operating lease liabilities	$	660
Finance leases	Current portion of long-term debt		14
Non-current:
Operating leases	Long-term operating lease liabilities		2,138
Finance leases	Long-term debt		24
Total lease liabilities		$	2,836

(1)Finance leases are recorded net of accumulated depreciation of $54 million.

Components of Lease Cost

	Statement of Earnings Location	2020
Operating lease cost(1)	Cost of sales and SG&A(2)	$	780
Finance lease cost:
Depreciation of lease assets	Cost of sales and SG&A(2)		13
Interest on lease liabilities	Interest expense		2
Variable lease cost	Cost of sales and SG&A(2)		265
Sublease income	SG&A		(16)
Total lease cost		$	1,044

(1)Includes short-term leases, which are immaterial.

(2)Supply chain-related amounts are included in Cost of sales.

Other Information

	2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	810
Operating cash flows from finance leases		2
Financing cash flows from finance leases		15
Lease assets obtained in exchange for new lease liabilities:
Operating leases		676
Finance leases		10
Weighted average remaining lease term (in years):
Operating leases		5.3
Finance leases		5.0
Weighted average discount rate:
Operating leases		3.3	%
Finance leases		4.2	%

Future Lease Payments

.
	Operating Leases(1)		Finance Leases(1)
Fiscal 2021	$	738	$	15
Fiscal 2022		678		11
Fiscal 2023		521		7
Fiscal 2024		388		3
Fiscal 2025		279		2
Thereafter		456		5
Total future undiscounted lease payments		3,060		43
Less imputed interest		262		5
Total reported lease liability	$	2,798	$	38

(1)Lease payments exclude $158 million of legally binding fixed costs for leases signed but not yet commenced.

Future Lease Payments Under ASC 840

	Capital Leases		Financing Leases		Operating Leases(1)
Fiscal 2020	$	14	$	48	$	700
Fiscal 2021		11		42		648
Fiscal 2022		7		35		513
Fiscal 2023		4		24		371
Fiscal 2024		2		16		253
Thereafter		7		40		476
Total minimum lease payments		45		205	$	2,961
Less amount representing interest		(6)		(24)
Present value of minimum lease payments		39		181
Less current maturities		(12)		(43)
Present value of minimum lease maturities, less current maturities	$	27	$	138

(1)Operating lease obligations do not include payments to landlords covering real estate taxes and common area maintenance. These charges, if included, would increase total operating lease obligations by $0.8 billion at February 2, 2019.