Property and Leases

6 Months Ended

Jul. 31, 2022

PROPERTY AND LEASES

Net Property and Equipment

Net property and equipment includes accumulated depreciation and finance lease amortization of $27.2 billion as of July 31, 2022 and $26.1 billion as of January 30, 2022.

Leases

The following table presents the consolidated balance sheet location of assets and liabilities related to operating and finance leases:


in millions	Consolidated Balance Sheet Classification	July 31, 2022		January 30, 2022
Assets:
Operating lease assets	Operating lease right-of-use assets	$	6,132	$	5,968
Finance lease assets (1)	Net property and equipment	2,923		2,896
Total lease assets		$	9,055	$	8,864

Liabilities:
Current:
Operating lease liabilities	Current operating lease liabilities	$	919	$	830
Finance lease liabilities	Current installments of long-term debt	219		198
Long-term:
Operating lease liabilities	Long-term operating lease liabilities	5,431		5,353
Finance lease liabilities	Long-term debt, excluding current installments	3,082		3,038
Total lease liabilities		$	9,651	$	9,419

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(1) Finance lease assets are recorded net of accumulated amortization of $1.1 billion as of July 31, 2022 and $1.0 billion as of January 30, 2022.

The following table presents supplemental non-cash information related to leases:


	Six Months Ended
in millions	July 31, 2022		August 1, 2021
Lease assets obtained in exchange for new operating lease liabilities	$	646	$	429
Lease assets obtained in exchange for new finance lease liabilities	202		417