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Fair Value of Financial Assets and Liabilities and Investments in Non-Affiliated Entities
 6 Months Ended
Jul. 28, 2024
Fair Value Disclosures [Abstract]  
Fair Value of Financial Assets and Liabilities and Investments in Non-Affiliated Entities Fair Value of Financial Assets and Liabilities and Investments in Non-Affiliated Entities
The fair values of our financial assets and liabilities are determined using quoted market prices of identical assets or market prices of similar assets from active markets. We review fair value classification on a quarterly basis.
Pricing CategoryFair Value at
Jul 28, 2024Jan 28, 2024
(In millions)
Assets
Cash equivalents and marketable securities:
Money market fundsLevel 1$5,252 $3,031 
Publicly-held equity securitiesLevel 1$419 $— 
Debt securities issued by the U.S. TreasuryLevel 2$14,083 $9,524 
Corporate debt securitiesLevel 2$12,024 $10,152 
Debt securities issued by U.S. government agenciesLevel 2$2,466 $2,333 
Certificates of depositLevel 2$141 $510 
Foreign government bondsLevel 2$— $174 
Other assets (Investments in non-affiliated entities):
Publicly-held equity securitiesLevel 1$— $225 
Liabilities (1)
0.584% Notes Due 2024
Level 2$— $1,228 
3.20% Notes Due 2026
Level 2$973 $970 
1.55% Notes Due 2028
Level 2$1,126 $1,115 
2.85% Notes Due 2030
Level 2$1,380 $1,367 
2.00% Notes Due 2031
Level 2$1,068 $1,057 
3.50% Notes Due 2040
Level 2$839 $851 
3.50% Notes Due 2050
Level 2$1,559 $1,604 
3.70% Notes Due 2060
Level 2$386 $403 
(1)    These liabilities are carried on our Condensed Consolidated Balance Sheets at their original issuance value, net of unamortized debt discount and issuance costs.
Investments in Non-Affiliated Entities
Our investments in non-affiliated entities include non-marketable equity securities, which are primarily investments in privately held companies. In the second quarter of fiscal year 2025, publicly-held equity securities from investments in non-affiliated entities were classified in marketable securities on our Condensed Consolidated Balance Sheets.
Our non-marketable equity securities are recorded in long-term other assets on our Condensed Consolidated Balance Sheets and valued under the measurement alternative. Gains and losses on these investments, realized and unrealized, are recognized in Other income and expense, net on our Condensed Consolidated Statements of Income.
Adjustments to the carrying value of our non-marketable equity securities during the second quarter and first half of fiscal years 2025 and 2024 were as follows:
Three Months EndedSix Months Ended
Jul 28, 2024Jul 30, 2023Jul 28, 2024Jul 30, 2023
(In millions)
Balance at beginning of period$1,463 $496 $1,321 $288 
Adjustments related to non-marketable equity securities:
Net additions294 181 421 402 
Unrealized gains77 — 92 — 
Impairments and unrealized losses(15)(1)(15)(14)
Balance at end of period$1,819 $676 $1,819 $676 
Non-marketable equity securities had cumulative gross unrealized gains of $362 million and cumulative gross losses and impairments of $60 million as of July 28, 2024.