Debt

9 Months Ended

Oct. 29, 2022

Debt [Abstract]

Debt

6. Debt

Short-Term Debt

U.S. Revolving Credit Facility

We have a $1.25 billion, five year senior unsecured revolving credit facility agreement (the “Five-Year Facility Agreement”) with a syndicate of banks. The Five-Year Facility Agreement permits borrowings of up to $1.25 billion and expires in May 2026. There were no borrowings outstanding under the Five-Year Facility Agreement as of October 29, 2022, January 29, 2022, or October 30, 2021.

Long-Term Debt

Long-term debt consisted of the following ($ in millions):

	October 29, 2022		January 29, 2022		October 30, 2021
Notes, 4.45%, due October 1, 2028	$	500	$	500	$	500
Notes, 1.95%, due October 1, 2030		650		650		650
Interest rate swap valuation adjustments		(27)		50		58
Subtotal		1,123		1,200		1,208
Debt discounts and issuance costs		(9)		(11)		(11)
Finance lease obligations		44		40		41
Total long-term debt		1,158		1,229		1,238
Less current portion		16		13		15
Total long-term debt, less current portion	$	1,142	$	1,216	$	1,223

See Note 4, Fair Value Measurements, for the fair value of long-term debt.