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Debt
9 Months Ended
Oct. 30, 2021
Debt [Abstract]  
Debt 6. Debt Short-Term Debt U.S. Revolving Credit Facility On May 18, 2021, we entered into a $1.25 billion five year senior unsecured revolving credit facility agreement (the “Five-Year Facility Agreement”) with a syndicate of banks. The Five-Year Facility Agreement replaced the previous $1.25 billion senior unsecured revolving credit facility (the “Previous Facility”) with a syndicate of banks, which was originally scheduled to expire in April 2023, but was terminated on May 18, 2021. The Five-Year Facility Agreement permits borrowings of up to $1.25 billion and expires in May 2026. There were no borrowings outstanding under the Five-Year Facility Agreement as of October 30, 2021, or the Previous Facility as of January 30, 2021, and October 31, 2020. Bank Advance In conjunction with a solar energy investment, we were advanced $110 million due October 31, 2021. The advance was recorded within Short-term debt on our Condensed Consolidated Balance Sheets as of January 30, 2021, and bore interest at 0.14%. This advance was repaid on October 29, 2021. Long-Term Debt Long-term debt consisted of the following ($ in millions): October 30, 2021 January 30, 2021 October 31, 20202021 Notes $ - $ - $ 650  2028 Notes 500  500  500  2030 Notes 650  650  650  Interest rate swap valuation adjustments 58  91  102  Subtotal 1,208  1,241  1,902  Debt discounts and issuance costs (11) (12) (13) Finance lease obligations 41  38  37  Total long-term debt 1,238  1,267  1,926  Less current portion 15  14  670  Total long-term debt, less current portion $ 1,223  $ 1,253  $ 1,256  See Note 4, Fair Value Measurements, for the fair value of long-term debt.