Leases (Tables)

12 Months Ended

Feb. 01, 2025

Summary of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases is as follows:


	Fiscal Year Ended
	February 1, 2025		February 3, 2024
Weighted-average remaining lease term	6.5 years		6.6 years
Weighted-average discount rate	3.6	%	3.3	%

The following table is a summary of the Company’s components of net lease cost for the fiscal years ended:


		Fiscal Year Ended
In millions	Classification	February 1, 2025		February 3, 2024		January 28, 2023
				(53 weeks)
Operating lease cost	Cost of sales, including buying and occupancy costs	$	2,101	$	2,015	$	1,927
Variable and short term lease cost	Cost of sales, including buying and occupancy costs	1,555		1,490		1,359
Total lease cost		$	3,656	$	3,505	$	3,286

Supplemental cash flow information related to leases is as follows:


	Fiscal Year Ended
In millions	February 1, 2025		February 3, 2024		January 28, 2023
			(53 weeks)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for operating leases	$	2,116	$	2,030	$	1,949
Lease liabilities arising from obtaining right of use assets	$	2,140	$	2,055	$	2,095

Schedule of Operating Leases Maturity

The following table as of February 1, 2025 summarizes the maturity of lease liabilities under operating leases:


In millions
Fiscal Year:
2026	$	2,123
2027	2,000
2028	1,774
2029	1,498
2030	1,195
Later years	2,617
Total lease payments(a)	11,207
Less: imputed interest(b)	1,295
Total lease liabilities(c)	$	9,912

(a)Operating lease payments exclude legally binding minimum lease payments for leases signed but not yet commenced and include options to extend lease terms that are now deemed reasonably certain of being exercised according to the Company’s Lease Accounting Policy.

(b)Calculated using the incremental borrowing rate for each lease.

(c)Total lease liabilities are broken out on the Consolidated Balance Sheets between Current portion of operating lease liabilities and Long-term operating lease liabilities.