v3.26.1
Leases (Tables)
 12 Months Ended
Jan. 30, 2026
Leases [Abstract]  
Schedule of Lease-Related Assets and Liabilities
The lease-related assets and liabilities recorded on the balance sheet are summarized in the following table:

(In millions)
ClassificationJanuary 30, 2026January 31, 2025
Assets
Operating lease assetsOperating lease right-of-use assets$4,303 $3,738 
Finance lease assets
Property, less accumulated depreciation1
319 395 
Total lease assets4,622 4,133 
Liabilities
Current
OperatingCurrent operating lease liabilities713 563 
FinanceCurrent maturities of long-term debt81 87 
Noncurrent
OperatingNoncurrent operating lease liabilities4,043 3,628 
FinanceLong-term debt, excluding current maturities310 388 
Total lease liabilities$5,147 $4,666 
1Finance lease assets are recorded net of accumulated amortization of $394 million as of January 30, 2026, and $373 million as of January 31, 2025.
Schedule of Finance and Operating Lease Costs
The table below presents the lease costs for finance and operating leases:

(In millions)
Years Ended
January 30, 2026January 31, 2025February 2, 2024
Finance lease cost
Amortization of leased assets$82 $92 $88 
Interest on lease liabilities20 23 24 
Operating lease cost1
768 712 630 
Variable lease cost305 268 258 
Total lease cost$1,175 $1,095 $1,000 
1Includes short-term leases and sublease income, which are immaterial.
Schedule of Operating Lease Maturity
The future minimum rental payments required under operating and finance lease obligations as of January 30, 2026, having initial or remaining non-cancelable lease terms in excess of one year are summarized as follows:

(In millions)
Operating Leases1
Finance
Leases2
Total
Fiscal 2026$873 $92 $965 
Fiscal 2027879 64 943 
Fiscal 2028868 59 927 
Fiscal 2029688 47 735 
Fiscal 2030531 37 568 
Thereafter2,054 178 2,232 
Total lease payments5,893 477 6,370 
Less: interest3
(1,137)(86)(1,223)
Present value of lease liabilities4
$4,756 $391 $5,147 
1Operating lease payments include $499 million related to options to extend lease terms that are reasonably certain of being exercised and
exclude $52 million of minimum lease payments for leases signed but not yet commenced.
2Finance lease payments exclude $16 million of minimum lease payments for leases signed but not yet commenced.
3Calculated using the lease-specific incremental borrowing rate.
4Includes the current portion of $713 million for operating leases and $81 million for finance leases.
Schedule of Finance Lease Maturity
The future minimum rental payments required under operating and finance lease obligations as of January 30, 2026, having initial or remaining non-cancelable lease terms in excess of one year are summarized as follows:

(In millions)
Operating Leases1
Finance
Leases2
Total
Fiscal 2026$873 $92 $965 
Fiscal 2027879 64 943 
Fiscal 2028868 59 927 
Fiscal 2029688 47 735 
Fiscal 2030531 37 568 
Thereafter2,054 178 2,232 
Total lease payments5,893 477 6,370 
Less: interest3
(1,137)(86)(1,223)
Present value of lease liabilities4
$4,756 $391 $5,147 
1Operating lease payments include $499 million related to options to extend lease terms that are reasonably certain of being exercised and
exclude $52 million of minimum lease payments for leases signed but not yet commenced.
2Finance lease payments exclude $16 million of minimum lease payments for leases signed but not yet commenced.
3Calculated using the lease-specific incremental borrowing rate.
4Includes the current portion of $713 million for operating leases and $81 million for finance leases.
Summary of Operating and Finance Lease Additional Information
Lease Term and Discount RateJanuary 30, 2026January 31, 2025
Weighted-average remaining lease term (years)
Operating leases7.818.97
Finance leases8.578.68
Weighted-average discount rate
Operating leases4.43 %4.28 %
Finance leases4.85 %4.89 %
Other InformationYears Ended
(In millions)
January 30, 2026January 31, 2025February 2, 2024
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used for operating leases$743 $743 $689 
Operating cash flows used for finance leases19 22 24 
Financing cash flows used for finance leases85 86 92 
Leased assets obtained in exchange for new finance lease liabilities5 47 50 
Leased assets obtained in exchange for new operating lease liabilities1
398 545 696 
1Excludes $52 million of leases signed but not yet commenced as of January 30, 2026.