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Fair Value Measurements (Tables) | 12 Months Ended
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Feb. 03, 2024
Fair Value Disclosures [Abstract] |
Schedule of Financial Instruments Measured on a Recurring Basis | Fair value measurements are reported in one of three levels based on the lowest level of significant input used: Level 1 (unadjusted quoted prices in active markets); Level 2 (observable market inputs, other than quoted prices included in Level 1); and Level 3 (unobservable inputs that cannot be corroborated by observable market data).
Financial Instruments Measured on a Recurring Basis |  |  | Fair Value as of
(millions) | Classification | Measurement Level |  | February 3, 2024 |  | January 28, 2023
Assets |  |  |  |  |  |
Short-term investments (a) | Cash and Cash Equivalents | Level 1 |  | $ | 2,897 |  |  | $ | 1,343 |
Prepaid forward contracts (b) | Other Current Assets | Level 1 |  | 25 |  |  | 27 |
Interest rate swaps (c) | Other Noncurrent Assets | Level 2 |  | — |  |  | 7 |
Liabilities |  |  |  |  |  |
Interest rate swaps (c) | Other Current Liabilities | Level 2 |  | 3 |  |  | — |
Interest rate swaps (c) | Other Noncurrent Liabilities | Level 2 |  | 123 |  |  | 81 |
(a)Carrying value approximates fair value because maturities are less than three months. (b)Initially valued at transaction price. Subsequently valued by reference to the market price of Target common stock. (c)Valuations are based on observable inputs to the valuation model (e.g., interest rates and credit spreads). See Note 17 for additional information on interest rate swaps.
Schedule of Significant Financial Instruments Not Measured at Fair Value |
Significant Financial Instruments Not Measured at Fair Value (a) | As of February 3, 2024 |  | As of January 28, 2023
(millions) | Carrying Amount | Fair Value |  | Carrying Amount | Fair Value
Long-term debt, including current portion (b) | $ | 14,151 |  | $ | 13,467 |  |  | $ | 14,141 |  | $ | 13,688 |
(a)The carrying amounts of certain other current assets, commercial paper, accounts payable, and certain accrued and other current liabilities approximate fair value due to their short-term nature. (b)The fair value of debt is generally measured using a discounted cash flow analysis based on current market interest rates for the same or similar types of financial instruments and would be classified as Level 2. These amounts exclude commercial paper, unamortized swap valuation adjustments, and lease liabilities.

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- Definition Tabular disclosure of information about fair value of asset and liability not measured at fair value. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2E -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2E + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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