LONG-TERM BORROWINGS (Tables)

3 Months Ended

Feb. 01, 2026

Long-term borrowings were as follows in millions:


	February 1		November 2		January 26
	2026		2025		2025
Underwritten term debt
U.S. dollar notes and debentures:
6.55% debentures due 2028	$	200	$	200	$	200
5.375% notes due 2029		500		500		500
3.10% notes due 2030		700		700		700
8.10% debentures due 2030		250		250		250
4.15% notes due 2030*		500		498
7.125% notes due 2031		300		300		300
5.45% notes due 2035		1,250		1,250		1,250
3.90% notes due 2042		1,250		1,250		1,250
2.875% notes due 2049		500		500		500
3.75% notes due 2050		850		850		850
5.70% notes due 2055		750		750		750
Euro notes:
1.85% notes due 2028 (€600 principal)		718		694		625
2.20% notes due 2032 (€600 principal)		718		694		625
1.65% notes due 2039 (€650 principal)		778		752		677
Serial issuances:
Medium-term notes*		32,168		34,041		34,974
Other notes and finance lease obligations		519		470		272
Less: debt issuance costs and debt discounts		(147)		(155)		(167)
Long-term borrowings	$	41,804	$	43,544	$	43,556

* Includes fair value hedge adjustments related to derivatives.

The principal balances of the 4.15% notes due 2030 and medium-term notes were as follows:


	February 1		November 2		January 26
	2026		2025		2025
4.15% notes due 2030	$	500	$	500
Medium-term notes		32,359		34,241	$	35,770

- 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