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Derivative Instruments (Tables)

9 Months Ended

Oct. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Values of Outstanding Derivative Instruments

The fair values of outstanding derivative instruments were as follows (in millions):

			Condensed Consolidated Balance Sheets Location						October 31, 2024						January 31, 2024
Derivative assets:
Cash flow hedges			Prepaid expenses and other current assets						$	30					$	30
Cash flow hedges			Other assets						13						14
Non-designated hedges			Prepaid expenses and other current assets						3						2
Total derivative assets									$	46					$	46
Derivative liabilities:
Cash flow hedges			Accrued expenses and other current liabilities						$	12					$	14
Cash flow hedges			Other liabilities						12						12
Non-designated hedges			Accrued expenses and other current liabilities						1						1
Total derivative liabilities									$	25					$	27

Derivative Instruments Gain (Loss)

The effect of cash flow hedges on the Condensed Consolidated Statements of Operations was as follows (in millions):

			Three Months Ended October 31,
Condensed Consolidated Statements of Operations Location			2024												2023
			Total						Gains (losses) related to cash flow hedges						Total						Gains (losses) related to cash flow hedges
Revenues			$	2,160					$	7					$	1,866					$	16
Costs and expenses			1,995						3						1,778						1

			Nine Months Ended October 31,
Condensed Consolidated Statements of Operations Location			2024												2023
			Total						Gains (losses) related to cash flow hedges						Total						Gains (losses) related to cash flow hedges
Revenues			$	6,235					$	23					$	5,337					$	49
Costs and expenses			5,895						(2)						5,233						2

Pre-tax gains (losses) associated with cash flow hedges were as follows (in millions):

			Condensed Consolidated Statements of Operations and Statements of Comprehensive Income (Loss) Locations			Three Months Ended October 31,												Nine Months Ended October 31,
						2024						2023						2024						2023
Gains (losses) recognized in OCI			Net change in unrealized gains (losses) on cash flow hedges			$	0					$	67					$	11					$	54
Gains (losses) reclassified from AOCI into income (effective portion)			Revenues			7						16						23						49
Gains (losses) reclassified from AOCI into income (effective portion)			Costs and expenses			3						1						(2)						2

Gains (losses) associated with non-designated hedges were as follows (in millions):

			Condensed Consolidated Statements of Operations Location			Three Months Ended October 31,												Nine Months Ended October 31,
						2024						2023						2024						2023
Gains (losses) related to non-designated hedges			Other income (expense), net			$	0					$	6					$	(2)					$	8

Offsetting Assets

As of October 31, 2024, information related to these offsetting arrangements was as follows (in millions):

			Gross Amounts of Recognized Assets						Gross Amounts Offset on the Condensed Consolidated Balance Sheets						Net Amounts of Assets Presented on the Condensed Consolidated Balance Sheets						Gross Amounts Not Offset on the Condensed Consolidated Balance Sheets												Net Assets Exposed
																					Financial Instruments						Cash Collateral Received
Derivative assets:
Counterparty A			$	13					$	0					$	13					$	(4)					$	0					$	9
Counterparty B			9						0						9						(6)						0						3
Counterparty C			3						0						3						(1)						0						2
Counterparty D			17						0						17						(13)						0						4
Counterparty E			1						0						1						0						0						1
Counterparty F			2						0						2						(1)						0						1
Counterparty G			1						0						1						0						0						1
Total			$	46					$	0					$	46					$	(25)					$	0					$	21

Offsetting Liabilities

As of October 31, 2024, information related to these offsetting arrangements was as follows (in millions):

			Gross Amounts of Recognized Liabilities						Gross Amounts Offset on the Condensed Consolidated Balance Sheets						Net Amounts of Liabilities Presented on the Condensed Consolidated Balance Sheets						Gross Amounts Not Offset on the Condensed Consolidated Balance Sheets												Net Liabilities Exposed
																					Financial Instruments						Cash Collateral Pledged
Derivative liabilities:
Counterparty A			$	4					$	0					$	4					$	(4)					$	0					$	0
Counterparty B			6						0						6						(6)						0						0
Counterparty C			1						0						1						(1)						0						0
Counterparty D			13						0						13						(13)						0						0
Counterparty F			1						0						1						(1)						0						0
Total			$	25					$	0					$	25					$	(25)					$	0					$	0

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Tabular disclosure of derivative and other financial assets that are subject to offsetting, including master netting arrangements.

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

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Tabular disclosure of the presentation of foreign exchange contracts on the statement of financial position, including the fair value amounts and location of such amounts.

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