v3.25.3
Debt
 9 Months Ended
Oct. 31, 2025
Debt Disclosure [Abstract]  
Debt Debt
The components of the Company's borrowings were as follows (in millions):
InstrumentDate of IssuanceMaturity DateContractual Interest Rate
Outstanding Principal as of October 31, 2025
Carrying Value as of October 31, 2025Carrying Value as of January 31, 2025
2028 Senior NotesApril 2018April 20283.70 %1,500 1,497 1,496 
2028 Senior Sustainability NotesJuly 2021July 20281.50 1,000 996 995 
2031 Senior NotesJuly 2021July 20311.95 1,500 1,493 1,491 
2041 Senior NotesJuly 2021July 20412.70 1,250 1,237 1,236 
2051 Senior NotesJuly 2021July 20512.90 2,000 1,979 1,979 
2061 Senior NotesJuly 2021July 20613.05 1,250 1,236 1,236 
Total carrying value of debt8,500 8,438 8,433 
Less current portion of debt0 0 
Total noncurrent debt$8,438 $8,433 
The Company was in compliance with all debt covenants as of October 31, 2025.
The total estimated fair value of the Company's outstanding senior unsecured notes (the “Senior Notes”) above was $6.8 billion and $6.6 billion as of October 31, 2025 and January 31, 2025, respectively. The fair value was determined based on the closing trading price per $100 of the Senior Notes as of the last day of trading of the third quarter of fiscal 2026 and the last day of trading of fiscal 2025, and are deemed Level 2 liabilities within the fair value measurement framework.
The contractual future principal payments for all borrowings as of October 31, 2025 were as follows (in millions):
Fiscal Period:
Remaining three months of fiscal 2026$0 
Fiscal 20270 
Fiscal 20280 
Fiscal 20292,500 
Fiscal 20300 
Thereafter6,000 
Total principal outstanding$8,500 
Interest expense, primarily from the Company’s debt instruments, was $67 million for the three months ended October 31, 2025 and 2024, respectively, and $202 million and $204 million for the nine months ended October 31, 2025 and 2024, respectively, and is included in other income in the condensed consolidated statements of operations.
Revolving Credit Facility
In October 2024, the Company entered into a Credit Agreement with the lenders and issuing lenders party thereto, and Bank of America, N.A., as administrative agent (the “Revolving Loan Credit Agreement”). The Revolving Loan Credit Agreement replaced the Credit Agreement, dated December 23, 2020 (as amended, the “Prior Credit Agreement”), among the Company, the lenders and the issuing lenders party thereto, and Citibank, N.A., as administrative agent, which provided for a $3.0 billion unsecured revolving credit facility that was scheduled to mature on December 23, 2025. There were no outstanding borrowings under the Prior Credit Agreement.
The Revolving Loan Credit Agreement provides for a $5.0 billion unsecured revolving credit facility (“Credit Facility”) and matures in October 2029. The Company may use the proceeds of future borrowings under the Credit Facility for general corporate purposes. There were no outstanding borrowings under the Credit Facility as of October 31, 2025.
Informatica-Related Financing
In June 2025, the Company entered into a 364-Day Credit Agreement that provides the Company with the ability to borrow up to $4.0 billion and a three-year Credit Agreement that provides the Company with the ability to borrow up to $2.0 billion, both on an unsecured basis, to finance a portion of the cash consideration for the Company’s acquisition of Informatica Inc. (“Informatica”), the repayment of certain debt of Informatica and the payment of fees, costs and expenses related thereto (collectively, the “Informatica Credit Agreements”). The availability and funding of each credit agreement is conditioned on the consummation of the acquisition of Informatica in accordance with the terms of the merger agreement and is subject to certain exceptions, qualifications and certain other conditions. There were no outstanding borrowings on the Informatica Credit Agreements as of October 31, 2025.
For more information regarding the acquisition of Informatica, see Note 14 “Subsequent Events.”