Commercial Paper and Long-Term Debt (Tables)

12 Months Ended

Jan. 31, 2026

Schedule of Carrying Value and Maturities of Debt Portfolio


Debt Maturities
(dollars in millions)	Weighted-Average Interest Rate at January 31, 2026		January 31, 2026		February 1, 2025
Due 2025	—	%	$	—	$	1,500
Due 2026-2030	2.9		4,898		4,396
Due 2031-2035	4.9		3,734		2,740
Due 2036-2040	6.3		1,434		938
Due 2041-2045	4.0		1,090		1,089
Due 2046-2050	3.8		1,120		1,120
Due 2051-2052	3.9		2,122		2,121
Total notes and debentures			14,398		13,904
Swap valuation adjustments			(55)		(125)
Finance lease liabilities			2,113		2,161
Less: Amounts due within one year			(2,130)		(1,636)
Long-term debt and other borrowings			$	14,326	$	14,304

Our unsecured long-term debt issuances during the year ended January 31, 2026 were as follows:


Debt Issuances (dollars in millions)
Issuance Date	Maturity Date	Principal Amount		Interest Rate (Fixed)
March 2025	April 2035	$	1,000	5.00	%
June 2025	June 2028	500		4.35
June 2025	February 2036	500		5.25

Schedule of Required Principal Payments


Required Principal Payments (millions)	2026		2027		2028		2029		2030		Thereafter


Total required principal payments	$	2,000	$	97	$	581	$	1,000	$	1,230	$	9,593

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details