XML 27 R15.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

LEASES | 6 Months Ended
--- | ---
Aug. 02, 2024
Leases [Abstract] |
LEASES | LEASES The Company enters into leasing transactions in which the Company is the lessee. These lease contracts are typically classified as operating leases. The Company’s lease contracts are generally for office buildings used to conduct its business, and the determination of whether such contracts contain leases generally does not require significant estimates or judgments. The Company also leases certain global logistics warehouses, employee vehicles, and equipment. As of August 2, 2024, the remaining terms of the Company’s leases range from one month to approximately twelve years. As of August 2, 2024 and February 2, 2024, there were no material finance leases in which the Company was a lessee. The Company also enters into leasing transactions in which the Company is the lessor, primarily through customer financing arrangements offered through DFS. DFS originates leases that are primarily classified as either sales-type leases or operating leases. See Note 4 of the Notes to the Condensed Consolidated Financial Statements for more information about the Company’s lessor arrangements. The following table presents components of lease costs included in the Condensed Consolidated Statements of Income for the periods indicated:
| Three Months Ended |  | Six Months Ended
| August 2, 2024 |  | August 4, 2023 |  | August 2, 2024 |  | August 4, 2023
| (in millions)
Operating lease costs | $ | 75 |  |  | $ | 63 |  |  | $ | 146 |  |  | $ | 142 |
Variable costs | 15 |  |  | 19 |  |  | 33 |  |  | 43 |
Total lease costs | $ | 90 |  |  | $ | 82 |  |  | $ | 179 |  |  | $ | 185 |
During the six months ended August 2, 2024 and August 4, 2023, sublease income, finance lease costs, and short-term lease costs were immaterial. The following table presents supplemental information related to operating leases included in the Condensed Consolidated Statements of Financial Position as of the dates indicated:
| Classification |  | August 2, 2024 |  | February 2, 2024 |  |
|  |  | (in millions, except for term and discount rate)
Operating lease right-of-use assets | Other non-current assets |  | $ | 716 |  | $ | 707 |  |
Current operating lease liabilities | Accrued and other current liabilities |  | $ | 246 |  | $ | 253 |  |
Non-current operating lease liabilities | Other non-current liabilities |  | 581 |  | 576 |  |
Total operating lease liabilities |  |  | $ | 827 |  | $ | 829 |  |
Weighted-average remaining lease term (in years) |  |  | 4.47 |  | 4.56 |  |
Weighted-average discount rate |  |  | 4.86 | % |  | 4.79 | % |  |
The following table presents supplemental cash flow information related to leases for the periods indicated:
| Six Months Ended
| August 2, 2024 |  | August 4, 2023
| (in millions)
Cash paid for amounts included in the measurement of lease liabilities — operating cash outflows from operating leases | $ | 137 |  |  | $ | 153 |
Right-of-use assets obtained in exchange for new operating lease liabilities | $ | 128 |  |  | $ | 131 |
The following table presents the future maturity of the Company’s operating lease liabilities under non-cancelable leases and reconciles the undiscounted cash flows for these leases to the lease liability recognized on the Condensed Consolidated Statements of Financial Position as of the date indicated:
| August 2, 2024
| (in millions)
Fiscal 2025 (remaining six months) | $ | 126 |
Fiscal 2026 | 233 |
Fiscal 2027 | 195 |
Fiscal 2028 | 145 |
Fiscal 2029 | 98 |
Thereafter | 119 |
Total lease payments | 916 |
Less: Imputed interest | 89 |
Total | $ | 827 |
Current operating lease liabilities | $ | 246 |
Non-current operating lease liabilities | $ | 581 |
As of August 2, 2024, the Company’s undiscounted operating leases that had not yet commenced were immaterial.

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration