Pension Plans (Tables)
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12 Months Ended |
Jan. 31, 2026 |
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| Retirement Benefits [Abstract] |
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| Schedule of Recognition of Funded/(Underfunded) Status |
| | | | | | | | | | | | | | | | | | | Funded Status | Qualified Plan | | Nonqualified and International Plans | | (millions) | 2025 | 2024 | | 2025 | 2024 | | Projected benefit obligations | $ | 3,254 | | $ | 3,225 | | | $ | 65 | | $ | 64 | | | Fair value of plan assets | 3,485 | | 3,346 | | | 28 | | 25 | | Funded / (underfunded) status | $ | 231 | | $ | 121 | | | $ | (37) | | $ | (39) | |
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| Schedule of Estimated Future Benefit Payments |
| | | | | | Estimated Future Benefit Payments (millions) | Pension Benefits | | 2026 | $ | 213 | | | 2027 | 227 | | | 2028 | 241 | | | 2029 | 244 | | | 2030 | 249 | | | 2031 - 2035 | 1,328 | |
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| Schedule of Net Pension Benefits Expense |
| | | | | | | | | | | | | | | Net Pension Benefits (Income) / Expense | | | | | | (millions) | Classification | 2025 | 2024 | 2023 | | Service cost benefits earned | Cost of Sales and SG&A Expenses | $ | 74 | | $ | 80 | | $ | 79 | | | Interest cost on projected benefit obligation | Net Other Income | 169 | | 166 | | 166 | | | Expected return on assets | Net Other Income | (272) | | (279) | | (269) | | | Amortization of losses | Net Other Income | 1 | | — | | 1 | | Prior service cost | Net Other Income | 7 | | 8 | | 11 | | | | | | | | Total | | $ | (21) | | $ | (25) | | $ | (12) | |
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| Schedule of Benefit Obligation Weighted Average Assumptions |
| | | | | | | | | | | Benefit Obligation Weighted Average Assumptions | 2025 | 2024 | | | Discount rate | 5.56 | % | 5.68 | % | | | Average assumed rate of compensation increase | 3.00 | | 3.00 | | | | Cash balance plan interest crediting rate | 4.64 | | 4.64 | | |
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| Schedule of Net Periodic Benefit Expense Weighted Average Assumptions |
| | | | | | | | | | | | | Net Periodic Benefit Expense Weighted Average Assumptions | 2025 | 2024 | 2023 | | Discount rate | 5.68 | % | 5.20 | % | 4.83 | % | | Expected long-term rate of return on plan assets | 7.20 | | 7.00 | | 6.50 | | | Average assumed rate of compensation increase | 3.00 | | 3.00 | | 3.00 | | | Cash balance plan interest crediting rate | 4.64 | | 4.64 | | 4.64 | |
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| Schedule of Change in Projected Benefit Obligation |
| | | | | | | | | | | | | | | | | | | Change in Projected Benefit Obligation | Qualified Plan | | Nonqualified and International Plans | | (millions) | 2025 | 2024 | | 2025 | 2024 | | Benefit obligation at beginning of period | $ | 3,225 | | $ | 3,436 | | | $ | 64 | | $ | 60 | | | Service cost | 69 | | 72 | | | 5 | | 8 | | | Interest cost | 166 | | 164 | | | 3 | | 2 | | Plan amendments | 7 | | 8 | | | — | | — | | Actuarial loss / (gain) (a) | 35 | | (131) | | | — | | (2) | | | Participant contributions | 9 | | 10 | | | — | | — | | | Benefits paid | (257) | | (334) | | | (7) | | (4) | | | | | | | | Benefit obligation at end of period (b) | $ | 3,254 | | $ | 3,225 | | | $ | 65 | | $ | 64 | |
(a)The actuarial loss / (gain) was primarily driven by changes in the weighted average discount rate. (b)Accumulated benefit obligation—the present value of benefits earned to date assuming no future salary growth—is materially consistent with the projected benefit obligation in each period presented.
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| Schedule of Change in Plan Assets |
| | | | | | | | | | | | | | | | | | | Change in Plan Assets | Qualified Plan | | Nonqualified and International Plans | | (millions) | 2025 | 2024 | | 2025 | 2024 | Fair value of plan assets at beginning of period | $ | 3,346 | | $ | 3,493 | | | $ | 25 | | $ | 21 | | | Actual return on plan assets | 387 | | 177 | | | 1 | | 1 | | | Employer contributions | — | | — | | | 9 | | 7 | | | Participant contributions | 9 | | 10 | | | — | | — | | | Benefits paid | (257) | | (334) | | | (7) | | (4) | | Fair value of plan assets at end of period | $ | 3,485 | | $ | 3,346 | | | $ | 28 | | $ | 25 | |
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| Schedule of Asset Category |
| | | | | | | | | | | | | Asset Category | Current Targeted Allocation | Actual Allocation | | | 2025 | 2024 | Domestic equity securities (a) | 12 | % | 12 | % | 14 | % | | International equity securities | 8 | | 9 | | 8 | | | Debt securities | 55 | | 54 | | 50 | | Balanced funds | 20 | | 22 | | 24 | | Other (b) | 5 | | 3 | | 4 | | | Total | 100 | % | 100 | % | 100 | % |
(a)Equity securities include our common stock in amounts substantially less than 1 percent of total plan assets in both periods presented. (b)Other assets include private equity, high-yield debt, natural resources and timberland funds, derivative instruments, and real estate.
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| Schedule of Fair Value Measurements |
| | | | | | | | | | | | | | | | Fair Value Measurements | | Fair Value as of | | (millions) | Measurement Level | January 31, 2026 | | January 31, 2025 | | Cash and cash equivalents | Level 1 | $ | — | | | $ | 6 | | | | | | | Government securities (a) | Level 2 | 543 | | | 488 | | Fixed income (b) | Level 2 | 1,290 | | | 1,163 | | | | 1,833 | | | 1,657 | | Investments valued using NAV per share (c) | | | | | | Fixed income | | 6 | | | 6 | | | Private equity funds | | 45 | | | 55 | | | Cash and cash equivalents | | 117 | | | 218 | | | Common collective trusts | | 660 | | | 539 | | Balanced funds | | 754 | | | 803 | | | Other | | 98 | | | 93 | | | Total plan assets | | $ | 3,513 | | | $ | 3,371 | |
(a)Investments in government securities and long-term government bonds. (b)Investments in corporate and municipal bonds. (c)Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position.
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