Debt

6 Months Ended

Aug. 03, 2024

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 that expires in April 2028. There were no borrowings outstanding under the Five-Year Facility Agreement as of August 3, 2024, February 3, 2024, or July 29, 2023.

Long-Term Debt

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

	August 3, 2024		February 3, 2024		July 29, 2023
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		(2)		(11)		(20)
Subtotal		1,148		1,139		1,130
Debt discounts and issuance costs		(7)		(8)		(9)
Finance lease obligations		29		34		39
Total long-term debt		1,170		1,165		1,160
Less current portion		13		13		15
Total long-term debt, less current portion	$	1,157	$	1,152	$	1,145

Fair Value and Future Maturities

See Note 4, Fair Value Measurements, for the fair value of long-term debt. Other than the $500 million of principal amount of notes due October 1, 2028, we do not have any future maturities of long-term debt within the next five fiscal years.