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Fair Value Measurements (Tables)
3 Months Ended
Apr. 30, 2022
Fair Value Measurements [Abstract]  
Fair Value, Assets and Liabilities Measured on Recurring Basis

Fair Value at

Balance Sheet Location(1)

Fair Value Hierarchy

April 30, 2022

January 29, 2022

May 1, 2021

Assets

Money market funds(2)

Cash and cash equivalents

Level 1

$

2 

$

548 

$

1,063 

Time deposits(3)

Cash and cash equivalents

Level 2

27 

278 

639 

Time deposits(3)

Short-term investments

Level 2

-

-

60 

Time deposits(3)

Other current assets

Level 2

-

-

65 

Interest rate swap derivative instruments(4)

Other assets

Level 2

4 

50 

65 

Marketable securities that fund deferred compensation(5)

Other assets

Level 1

51 

54 

53 

(1)Balance sheet location is determined by length to maturity.

(2)Valued at quoted market prices in active markets.

(3)Valued at face value plus accrued interest, which approximates fair value.

(4)Valued using readily observable market inputs. These instruments are custom, over-the-counter contracts with various bank counterparties that are not traded on an active market. See Note 5, Derivative Instruments, for additional information.

(5)Valued using select mutual fund performance that trade with sufficient frequency and volume to obtain pricing information on an ongoing basis.

Fair Value of Financial Instruments

April 30, 2022

January 29, 2022

May 1, 2021

Fair Value

Carrying Value

Fair Value

Carrying Value

Fair Value

Carrying Value

Long-term debt(1)

$

1,050 

$

1,154 

$

1,205 

$

1,200 

$

1,260 

$

1,215 

(1)Excludes debt discounts, issuance costs and finance lease obligations.