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Fair Value Measurements (Tables)
6 Months Ended
Aug. 03, 2024
Fair Value Measurements [Abstract]  
Fair Value, Assets and Liabilities Measured on Recurring Basis

Fair Value as of

Balance Sheet Location(1)

Fair Value Hierarchy

August 3, 2024

February 3, 2024

July 29, 2023

Assets

Money market funds(2)

Cash and cash equivalents

Level 1

$

212 

$

330 

$

104 

Time deposits(3)

Cash and cash equivalents

Level 2

136 

60 

117 

Money market funds(2)

Other current assets

Level 1

147 

182 

167 

Time deposits(3)

Other current assets

Level 2

51 

50 

60 

Marketable securities that fund deferred compensation(4)

Other assets

Level 1

38 

48 

47 

Liabilities

Interest rate swap derivative instruments(5)

Long-term liabilities

Level 2

2 

11 

20 

(1)Balance sheet location is determined by the length to maturity at date of purchase and whether the assets are restricted for particular use.

(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

August 3, 2024

February 3, 2024

July 29, 2023

Fair Value

Carrying Value

Fair Value

Carrying Value

Fair Value

Carrying Value

Long-term debt(1)

$

1,058 

$

1,148 

$

1,022 

$

1,139 

$

991 

$

1,130 

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