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Leases | 12 Months Ended
--- | ---
Jan. 30, 2026
Leases [Abstract] |
Leases | Leases The lease-related assets and liabilities recorded on the balance sheet are summarized in the following table:
(In millions) | Classification | January 30, 2026 |  | January 31, 2025
Assets |  |  |  |
Operating lease assets | Operating lease right-of-use assets | $ | 4,303 |  |  | $ | 3,738 |
Finance lease assets | Property, less accumulated depreciation 1 | 319 |  |  | 395 |
Total lease assets |  | 4,622 |  |  | 4,133 |
Liabilities |  |  |  |
Current |  |  |  |
Operating | Current operating lease liabilities | 713 |  |  | 563 |
Finance | Current maturities of long-term debt | 81 |  |  | 87 |
Noncurrent |  |  |  |
Operating | Noncurrent operating lease liabilities | 4,043 |  |  | 3,628 |
Finance | Long-term debt, excluding current maturities | 310 |  |  | 388 |
Total lease liabilities |  | $ | 5,147 |  |  | $ | 4,666 |
1 Finance lease assets are recorded net of accumulated amortization of $394 million as of January 30, 2026, and $373 million as of January 31, 2025. The table below presents the lease costs for finance and operating leases:
(In millions) | Years Ended
January 30, 2026 |  | January 31, 2025 |  | February 2, 2024
Finance lease cost |  |  |  |  |
Amortization of leased assets | $ | 82 |  |  | $ | 92 |  |  | $ | 88 |
Interest on lease liabilities | 20 |  |  | 23 |  |  | 24 |
Operating lease cost 1 | 768 |  |  | 712 |  |  | 630 |
Variable lease cost | 305 |  |  | 268 |  |  | 258 |
Total lease cost | $ | 1,175 |  |  | $ | 1,095 |  |  | $ | 1,000 |
1 Includes short-term leases and sublease income, which are immaterial. The future minimum rental payments required under operating and finance lease obligations as of January 30, 2026, having initial or remaining non-cancelable lease terms in excess of one year are summarized as follows:
(In millions) | Operating Leases 1 | Finance Leases 2 | Total
Fiscal 2026 | $ | 873 |  | $ | 92 |  | $ | 965 |
Fiscal 2027 | 879 |  | 64 |  | 943 |
Fiscal 2028 | 868 |  | 59 |  | 927 |
Fiscal 2029 | 688 |  | 47 |  | 735 |
Fiscal 2030 | 531 |  | 37 |  | 568 |
Thereafter | 2,054 |  | 178 |  | 2,232 |
Total lease payments | 5,893 |  | 477 |  | 6,370 |
Less: interest 3 | (1,137) |  | (86) |  | (1,223) |
Present value of lease liabilities 4 | $ | 4,756 |  | $ | 391 |  | $ | 5,147 |
1 Operating lease payments include $499 million related to options to extend lease terms that are reasonably certain of being exercised and exclude $52 million of minimum lease payments for leases signed but not yet commenced. 2 Finance lease payments exclude $16 million of minimum lease payments for leases signed but not yet commenced. 3 Calculated using the lease-specific incremental borrowing rate. 4 Includes the current portion of $713 million for operating leases and $81 million for finance leases.
Lease Term and Discount Rate | January 30, 2026 |  | January 31, 2025
Weighted-average remaining lease term (years) |  |  |
Operating leases | 7.81 |  | 8.97
Finance leases | 8.57 |  | 8.68
Weighted-average discount rate |  |  |
Operating leases | 4.43 | % |  | 4.28 | %
Finance leases | 4.85 | % |  | 4.89 | %
Other Information | Years Ended
(In millions) | January 30, 2026 |  | January 31, 2025 |  | February 2, 2024
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |
Operating cash flows used for operating leases | $ | 743 |  |  | $ | 743 |  |  | $ | 689 |
Operating cash flows used for finance leases | 19 |  |  | 22 |  |  | 24 |
Financing cash flows used for finance leases | 85 |  |  | 86 |  |  | 92 |
Leased assets obtained in exchange for new finance lease liabilities | 5 |  |  | 47 |  |  | 50 |
Leased assets obtained in exchange for new operating lease liabilities 1 | 398 |  |  | 545 |  |  | 696 |
1 Excludes $52 million of leases signed but not yet commenced as of January 30, 2026.
Leases | Leases The lease-related assets and liabilities recorded on the balance sheet are summarized in the following table:
(In millions) | Classification | January 30, 2026 |  | January 31, 2025
Assets |  |  |  |
Operating lease assets | Operating lease right-of-use assets | $ | 4,303 |  |  | $ | 3,738 |
Finance lease assets | Property, less accumulated depreciation 1 | 319 |  |  | 395 |
Total lease assets |  | 4,622 |  |  | 4,133 |
Liabilities |  |  |  |
Current |  |  |  |
Operating | Current operating lease liabilities | 713 |  |  | 563 |
Finance | Current maturities of long-term debt | 81 |  |  | 87 |
Noncurrent |  |  |  |
Operating | Noncurrent operating lease liabilities | 4,043 |  |  | 3,628 |
Finance | Long-term debt, excluding current maturities | 310 |  |  | 388 |
Total lease liabilities |  | $ | 5,147 |  |  | $ | 4,666 |
1 Finance lease assets are recorded net of accumulated amortization of $394 million as of January 30, 2026, and $373 million as of January 31, 2025. The table below presents the lease costs for finance and operating leases:
(In millions) | Years Ended
January 30, 2026 |  | January 31, 2025 |  | February 2, 2024
Finance lease cost |  |  |  |  |
Amortization of leased assets | $ | 82 |  |  | $ | 92 |  |  | $ | 88 |
Interest on lease liabilities | 20 |  |  | 23 |  |  | 24 |
Operating lease cost 1 | 768 |  |  | 712 |  |  | 630 |
Variable lease cost | 305 |  |  | 268 |  |  | 258 |
Total lease cost | $ | 1,175 |  |  | $ | 1,095 |  |  | $ | 1,000 |
1 Includes short-term leases and sublease income, which are immaterial. The future minimum rental payments required under operating and finance lease obligations as of January 30, 2026, having initial or remaining non-cancelable lease terms in excess of one year are summarized as follows:
(In millions) | Operating Leases 1 | Finance Leases 2 | Total
Fiscal 2026 | $ | 873 |  | $ | 92 |  | $ | 965 |
Fiscal 2027 | 879 |  | 64 |  | 943 |
Fiscal 2028 | 868 |  | 59 |  | 927 |
Fiscal 2029 | 688 |  | 47 |  | 735 |
Fiscal 2030 | 531 |  | 37 |  | 568 |
Thereafter | 2,054 |  | 178 |  | 2,232 |
Total lease payments | 5,893 |  | 477 |  | 6,370 |
Less: interest 3 | (1,137) |  | (86) |  | (1,223) |
Present value of lease liabilities 4 | $ | 4,756 |  | $ | 391 |  | $ | 5,147 |
1 Operating lease payments include $499 million related to options to extend lease terms that are reasonably certain of being exercised and exclude $52 million of minimum lease payments for leases signed but not yet commenced. 2 Finance lease payments exclude $16 million of minimum lease payments for leases signed but not yet commenced. 3 Calculated using the lease-specific incremental borrowing rate. 4 Includes the current portion of $713 million for operating leases and $81 million for finance leases.
Lease Term and Discount Rate | January 30, 2026 |  | January 31, 2025
Weighted-average remaining lease term (years) |  |  |
Operating leases | 7.81 |  | 8.97
Finance leases | 8.57 |  | 8.68
Weighted-average discount rate |  |  |
Operating leases | 4.43 | % |  | 4.28 | %
Finance leases | 4.85 | % |  | 4.89 | %
Other Information | Years Ended
(In millions) | January 30, 2026 |  | January 31, 2025 |  | February 2, 2024
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |
Operating cash flows used for operating leases | $ | 743 |  |  | $ | 743 |  |  | $ | 689 |
Operating cash flows used for finance leases | 19 |  |  | 22 |  |  | 24 |
Financing cash flows used for finance leases | 85 |  |  | 86 |  |  | 92 |
Leased assets obtained in exchange for new finance lease liabilities | 5 |  |  | 47 |  |  | 50 |
Leased assets obtained in exchange for new operating lease liabilities 1 | 398 |  |  | 545 |  |  | 696 |
1 Excludes $52 million of leases signed but not yet commenced as of January 30, 2026.

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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