XML 38 R20.htm IDEA: XBRL DOCUMENT
v3.25.2

Supplemental Financial Information | 6 Months Ended
--- | ---
Aug. 02, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Supplemental Financial Information | Supplemental Financial Information (in millions) Consolidated Balance Sheets Accounts Receivable, net The Company sells certain of its trade accounts receivable on a non-recourse basis to a third-party financial institution pursuant to a factoring arrangement. The Company accounts for these transactions as sales of receivables and presents cash proceeds as cash provided by operating activities in the unaudited condensed consolidated statements of cash flows. After the sale of its trade accounts receivable, the Company will collect payment from the customer and remit it to the third-party financial institution. Total trade accounts receivable sold under the factoring arrangement was $237.2 million and $526.8 million for the three and six months ended August 2, 2025, respectively, of which $142.0 million remained subject to servicing by the Company as of August 2, 2025. Total trade accounts receivable sold under the factoring arrangement were $226.3 million and $494.4 million for the three and six months ended August 3, 2024, respectively, of which $241.5 million remained subject to servicing by the Company as of August 3, 2024. Factoring fees for the sales of receivables were recorded in interest income and other, net and were not material.
| August 2, 2025 |  | February 1, 2025
Inventories: |  |  |
Work-in-process | $ | 738.6 |  |  | $ | 709.0 |
Finished goods | 313.0 |  |  | 320.7 |
Inventories | $ | 1,051.6 |  |  | $ | 1,029.7 |
| August 2, 2025 |  | February 1, 2025
Property and equipment, net: |  |  |
Machinery and equipment | $ | 1,614.7 |  |  | $ | 1,570.2 |
Land, buildings, and leasehold improvements | 321.9 |  |  | 306.6 |
Computer software | 131.1 |  |  | 126.4 |
Furniture and fixtures | 35.7 |  |  | 34.3 |
| 2,103.4 |  |  | 2,037.5 |
Less: Accumulated depreciation | (1,308.9) |  |  | (1,247.0) |
Property and equipment, net | $ | 794.5 |  |  | $ | 790.5 |
| August 2, 2025 |  | February 1, 2025
Other non-current assets: |  |  |
Prepaid ship and debits | $ | 498.1 |  |  | $ | 516.9 |
Technology licenses | 346.0 |  |  | 401.3 |
Prepayments on supply capacity reservation agreements | 302.2 |  |  | 307.8 |
Operating right-of-use assets | 273.6 |  |  | 246.0 |
Non-marketable equity investments | 73.0 |  |  | 48.2 |
Other | 106.7 |  |  | 74.8 |
Other non-current assets | $ | 1,599.6 |  |  | $ | 1,595.0 |
| August 2, 2025 |  | February 1, 2025
Accrued liabilities: |  |  |
Variable consideration estimates (1) | $ | 632.7 |  |  | $ | 517.9 |
Accrued income tax payable | 91.2 |  |  | 55.6 |
Technology license obligations | 79.7 |  |  | 101.8 |
Accrued restructuring | 57.5 |  |  | 91.5 |
Lease liabilities - current portion | 50.8 |  |  | 48.3 |
Accrued interest | 48.6 |  |  | 43.5 |
Deferred revenue | 41.3 |  |  | 22.1 |
Accrued royalties | 20.0 |  |  | 11.7 |
Accrued legal reserve | 13.9 |  |  | 11.7 |
Other | 42.8 |  |  | 68.5 |
Accrued liabilities | $ | 1,078.5 |  |  | $ | 972.6 |
(1)Substantially all of the variable consideration estimate is comprised of the ship and debit claims accrual, but also includes estimated customer returns, price discounts, price protection, rebates, and stock rotation programs.
| August 2, 2025 |  | February 1, 2025
Other non-current liabilities: |  |  |
Lease liabilities - non-current | $ | 258.3 |  |  | $ | 231.0 |
Non-current restructuring liabilities | 211.3 |  |  | 228.4 |
Technology license obligations | 195.1 |  |  | 233.8 |
Non-current income tax payable | 79.5 |  |  | 73.4 |
Deferred tax liabilities | 33.3 |  |  | 33.8 |
Other | 19.9 |  |  | 16.0 |
Other non-current liabilities | $ | 797.4 |  |  | $ | 816.4 |
Accumulated Other Comprehensive Income (Loss) The changes in accumulated other comprehensive income (loss), net of tax, by components for the comparative periods are presented in the following table (in millions):
|  |  |  |  | Unrealized Gain (Loss) on Cash Flow Hedges |  |  |
Balance at February 1, 2025 |  |  |  |  | $ | 0.4 |  |  |  |
Other comprehensive income (loss) before reclassifications |  |  |  |  | 0.8 |  |  |  |
Amounts reclassified from accumulated other comprehensive income (loss) |  |  |  |  | (0.6) |  |  |  |
Net current-period other comprehensive income (loss), net of tax |  |  |  |  | 0.2 |  |  |  |
Balance at August 2, 2025 |  |  |  |  | $ | 0.6 |  |  |  |
|  |  |  |  | Unrealized Gain (Loss) on Cash Flow Hedges |  |  |
Balance at February 3, 2024 |  |  |  |  | $ | 1.1 |  |  |  |
Other comprehensive income (loss) before reclassifications |  |  |  |  | (0.9) |  |  |  |
Amounts reclassified from accumulated other comprehensive income (loss) |  |  |  |  | (0.6) |  |  |  |
Net current-period other comprehensive income (loss), net of tax |  |  |  |  | (1.5) |  |  |  |
Balance at August 3, 2024 |  |  |  |  | $ | (0.4) |  |  |  |
Government Incentives On May 1, 2025, the Company received notification that its application for government incentives in a foreign jurisdiction in which the Company operates had been approved by the necessary government agencies. The Company is accounting for the benefit as a government incentive and has elected to reduce qualifying cost of sales and operating expenditures by the incentives earned, recognized in the same line item on the unaudited condensed consolidated statements of operations for which the incentive is intended to compensate. For incentives related to the purchase of qualifying expenditures that are subject to capitalization, the Company has elected to reduce the cost basis of the underlying capitalized assets by the associated incentives and is recognizing incentive benefits in the unaudited condensed consolidated statements of operations in accordance with the cost recovery of the assets. Government incentives earned prior to being received are recognized in prepaid expenses and other current assets on the Company’s unaudited condensed consolidated balance sheets. Stock Repurchase Program On November 17, 2016, the Company announced that its Board of Directors authorized a $1.0 billion stock repurchase plan with no fixed expiration. The stock repurchase program replaced in its entirety the prior $3.3 billion stock repurchase program. On October 16, 2018, the Company announced that its Board of Directors authorized a $700.0 million addition to the balance of its existing stock repurchase program. On March 7, 2024, the Company announced that its Board of Directors authorized a $3.0 billion addition to the balance of its existing stock repurchase program. As of August 2, 2025, $2.0 billion remained available for future stock repurchases. The Company intends to effect stock repurchases in accordance with the conditions of Rule 10b-18 under the Exchange Act, but may also make repurchases in the open market outside of Rule 10b-18 or in privately negotiated transactions. The stock repurchase program is subject to market conditions and other factors, and does not obligate the Company to repurchase any dollar amount or number of shares of its common stock and the repurchase program may be extended, modified, suspended or discontinued at any time. During the three and six months ended August 2, 2025, the Company repurchased 2.7 million and 8.3 million shares of its common stock for $200.0 million and $540.0 million, respectively. During the three and six months ended August 3, 2024, the Company repurchased 2.5 million and 4.7 million shares of its common stock for $175.0 million and $325.0 million, respectively. The Company records all repurchases, as well as investment purchases and sales, based on their trade date. The repurchased shares are retired immediately after repurchases are completed.

X
- Definition The entire disclosures of supplemental information, including descriptions and amounts, related to the balance sheet, income statement, and/or cash flow statement. + References No definition available. + Details
Name: | us-gaap_AdditionalFinancialInformationDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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