v3.26.1
Debt
 3 Months Ended
Apr. 26, 2026
Debt Disclosure [Abstract]  
Debt Debt
Expected
Remaining Term (years)		Effective
Interest Rate
Apr 26, 2026Jan 25, 2026
(In millions)
3.20% Notes Due 2026
0.43.31%$1,000 $1,000 
1.55% Notes Due 2028
2.11.64%1,250 1,250 
2.85% Notes Due 2030
3.92.93%1,500 1,500 
2.00% Notes Due 2031
5.12.09%1,250 1,250 
3.50% Notes Due 2040
13.93.54%1,000 1,000 
3.50% Notes Due 2050
23.93.54%2,000 2,000 
3.70% Notes Due 2060
34.03.73%500 500 
Unamortized debt discount and issuance costs(30)(32)
Net carrying amount
$8,470 $8,468 
Less short-term portion(1,000)(999)
Total long-term portion$7,470 $7,469 
As of April 26, 2026 and January 25, 2026, the estimated fair value of debt was $7.4 billion and $7.5 billion, respectively. The estimated fair values are based on Level 2 inputs.
Our notes are unsecured senior obligations. Existing and future liabilities of our subsidiaries will be effectively senior to the notes. Our notes pay interest semi-annually. We may redeem each of our notes prior to maturity, subject to a make-whole premium. The maturity dates of the notes are stated by calendar year.
As of April 26, 2026, we complied with the required covenants, which are non-financial in nature, under the outstanding notes.
As of April 26, 2026, our commercial paper program had a capacity of $25.0 billion, with no amounts outstanding.