Leases (Tables)

12 Months Ended

Jan. 31, 2026

Schedule of Supplemental Balance Sheet Information

Supplemental balance sheet information related to our leases was as follows ($ in millions):


	Balance Sheet Location	January 31, 2026		February 1, 2025
Assets
Operating leases	Operating lease assets	$	2,869	$	2,833
Finance leases	Property under finance leases, net(1)	42		34
Total lease assets		$	2,911	$	2,867
Liabilities
Current:
Operating leases	Current portion of operating lease liabilities	$	623	$	617
Finance leases	Current portion of long-term debt	11		10
Non-current:
Operating leases	Long-term operating lease liabilities	2,334		2,282
Finance leases	Long-term debt	21		15
Total lease liabilities		$	2,989	$	2,924

(1)Finance leases were recorded net of accumulated depreciation of $38 million and $54 million as of January 31, 2026, and February 1, 2025, respectively.

Schedule of Components of Lease Cost

Components of our total operating lease cost were as follows ($ in millions):


	Statement of Earnings Location	2026		2025		2024
Operating lease cost(1)	Cost of sales and SG&A(2)	$	790	$	784	$	777
Variable lease cost	Cost of sales and SG&A(2)	241		236		239
Sublease income	SG&A	(14)		(13)		(11)
Total operating lease cost		$	1,017	$	1,007	$	1,005

(1)Includes short-term leases, which are immaterial.

(2)Supply chain-related amounts are included in Cost of sales.

Schedule of Other Information

Other information related to our operating leases was as follows ($ in millions):


	2026			2025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows	$	794		$	781
Lease assets obtained in exchange for new lease liabilities	$	680		$	771
Weighted average remaining lease term (in years)	5.4			5.4
Weighted average discount rate	4.4		%	4.1		%

Income taxes paid were as follows ($ in millions):


	January 31, 2026
Federal	$	197
State and local	63


Foreign:
Canada	19
Other	5
Total(1)	$	284

(1)Includes payments for purchased tax credits of $150 million.

Schedule of Future Lease Payments

Future lease payments under our non-cancellable operating leases as of January 31, 2026, were as follows ($ in millions):


	Operating Leases(1)
Fiscal 2027	$	739
Fiscal 2028	719
Fiscal 2029	578
Fiscal 2030	457
Fiscal 2031	312
Thereafter	542
Total future undiscounted lease payments	3,347
Less imputed interest	390
Total reported lease liability	$	2,957

(1)Lease payments exclude $22 million of legally binding fixed costs for leases signed but not yet commenced.