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Fair Value Measurements (Tables)
9 Months Ended
Oct. 29, 2022
Fair Value Measurements [Abstract]  
Fair Value, Assets and Liabilities Measured on Recurring Basis

Fair Value at

Balance Sheet Location(1)

Fair Value Hierarchy

October 29, 2022

January 29, 2022

October 30, 2021

Assets

Money market funds(2)

Cash and cash equivalents

Level 1

$

76 

$

548 

$

313 

Time deposits(3)

Cash and cash equivalents

Level 2

25 

278 

625 

Money market funds(2)

Other current assets

Level 1

176 

-

-

Marketable securities that fund deferred compensation(4)

Other assets

Level 1

44 

54 

54 

Interest rate swap derivative instruments(5)

Other assets

Level 2

-

50 

58 

Liabilities

Interest rate swap derivative instruments(5)

Long-term liabilities

Level 2

27 

-

-

(1)Balance sheet location is determined by length to maturity at date of purchase.

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

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

(4)Valued using the performance of mutual funds that trade with sufficient frequency and volume to obtain pricing information on an ongoing basis.

(5)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.

Fair Value of Financial Instruments

October 29, 2022

January 29, 2022

October 30, 2021

Fair Value

Carrying Value

Fair Value

Carrying Value

Fair Value

Carrying Value

Long-term debt(1)

$

925 

$

1,123 

$

1,205 

$

1,200 

$

1,257 

$

1,208 

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