v3.25.4
Debt
 12 Months Ended
Jan. 31, 2026
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 January 31, 2026
Carrying Value as of January 31, 2026Carrying Value as of January 31, 2025
Informatica 364-day Credit Agreement (1)
November 2025November 20264.42 %4,000 4,000 0 
2028 Senior NotesApril 2018April 20283.70 1,500 1,497 1,496 
2028 Senior Sustainability NotesJuly 2021July 20281.50 1,000 996 995 
Informatica Three-year Credit Agreement (1)
November 2025November 20284.42 2,000 2,000 0 
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 1,980 1,979 
2061 Senior NotesJuly 2021July 20613.05 1,250 1,236 1,236 
Total carrying value of debt14,500 14,439 8,433 
Less current portion of debt(4,000)0 
Total noncurrent debt$10,439 $8,433 
(1) The contractual interest rate represents the weighted-average for the period outstanding.
The Company was in compliance with all debt covenants as of January 31, 2026.
The carrying amount of the Company’s 364-day and Three-year Credit Agreements approximates fair value as it bears interest at a floating rate that resets frequently and reflects current market spreads for similar credit risk profiles. The fair value of the Term Loan is classified as Level 2 within the fair value hierarchy. The total estimated fair value of the Company's outstanding senior unsecured notes (the “Senior Notes”) above was $6.7 billion and $6.6 billion as of January 31, 2026 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 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 January 31, 2026 were as follows (in millions):
Fiscal Period:
Fiscal 2027$4,000 
Fiscal 20280 
Fiscal 20294,500 
Fiscal 20300 
Fiscal 20310 
Thereafter6,000 
Total principal outstanding$14,500 
Interest expense, primarily from the Company’s debt instruments for fiscal 2026, 2025, and 2024 was $324 million, $272 million and $283 million, respectively, and is included in other income in the 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 January 31, 2026.
Informatica-Related Financing
In June 2025, the Company entered into a 364-day Credit Agreement that provided the Company with the ability to borrow up to $4.0 billion and a three-year Credit Agreement that provided 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, the repayment of certain debt of Informatica and the payment of fees, costs and expenses related thereto (collectively, the “Informatica Credit Agreements”). In November 2025, as part of the acquisition of Informatica, the Company borrowed the full $6.0 billion available under the credit facilities associated with the Informatica Credit Agreements, which was outstanding as of January 31, 2026. For more information regarding the acquisition of Informatica, see Note 7 “Business Combinations.”