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Leases | 12 Months Ended
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Jan. 28, 2023
Leases [Abstract] |
Leases | 7. Leases Supplemental balance sheet information related to our leases was as follows ($ in millions):
| Balance Sheet Location |  | January 28, 2023 |  | January 29, 2022
Assets |  |  |  |  |  |  |  |  |
Operating leases | Operating lease assets |  | $ | 2,746 |  |  | $ | 2,654 |
Finance leases | Property under finance leases, net(1) |  |  | 50 |  |  |  | 45 |
Total lease assets |  |  | $ | 2,796 |  |  | $ | 2,699 |
Liabilities |  |  |  |  |  |  |  |  |
Current: |  |  |  |  |  |  |  |  |
Operating leases | Current portion of operating lease liabilities |  | $ | 638 |  |  | $ | 648 |
Finance leases | Current portion of long-term debt |  |  | 16 |  |  |  | 13 |
Non-current: |  |  |  |  |  |  |  |  |
Operating leases | Long-term operating lease liabilities |  |  | 2,164 |  |  |  | 2,061 |
Finance leases | Long-term debt |  |  | 26 |  |  |  | 27 |
Total lease liabilities |  |  | $ | 2,844 |  |  | $ | 2,749 |
(1)Finance leases were recorded net of accumulated depreciation of $50 million and $46 million as of January 28, 2023, and January 29, 2022, respectively. ‎ Components of our total lease cost were as follows ($ in millions):
| Statement of Earnings Location |  | 2023 |  | 2022 |  | 2021
Operating lease cost(1) | Cost of sales and SG&A(2) |  | $ | 780 |  |  | $ | 770 |  |  | $ | 777 |
Finance lease cost: |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation of lease assets | Cost of sales and SG&A(2) |  |  | 15 |  |  |  | 13 |  |  |  | 13 |
Interest on lease liabilities | Interest expense |  |  | 1 |  |  |  | 1 |  |  |  | 1 |
Variable lease cost | Cost of sales and SG&A(2) |  |  | 233 |  |  |  | 238 |  |  |  | 249 |
Sublease income | SG&A |  |  | (12) |  |  |  | (13) |  |  |  | (16) |
Total lease cost |  |  | $ | 1,017 |  |  | $ | 1,009 |  |  | $ | 1,024 |
(1)Includes short-term leases, which are immaterial. (2)Supply chain-related amounts are included in Cost of sales. Other information related to our leases was as follows ($ in millions):
|  |  | 2023 |  | 2022
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 781 |  |  | $ | 814 |
Operating cash flows from finance leases |  |  | 1 |  |  |  | 1 |
Financing cash flows from finance leases |  |  | 18 |  |  |  | 18 |
Lease assets obtained in exchange for new lease liabilities: |  |  |  |  |  |  |  |
Operating leases |  |  | 809 |  |  |  | 759 |
Finance leases |  |  | 18 |  |  |  | 21 |
Weighted average remaining lease term (in years): |  |  |  |  |  |  |  |
Operating leases |  |  | 5.1 |  |  |  | 5.1 |
Finance leases |  |  | 5.5 |  |  |  | 5.0 |
Weighted average discount rate: |  |  |  |  |  |  |  |
Operating leases |  |  | 3.0 | % |  |  | 2.5 | %
Finance leases |  |  | 3.2 | % |  |  | 2.4 | %
Future lease payments under our non-cancellable leases as of January 28, 2023, were as follows ($ in millions):
|  |  |  |  | Operating Leases(1) |  | Finance Leases(1)
Fiscal 2024 |  |  |  |  | $ | 707 |  |  | $ | 16 |
Fiscal 2025 |  |  |  |  |  | 670 |  |  |  | 14 |
Fiscal 2026 |  |  |  |  |  | 544 |  |  |  | 8 |
Fiscal 2027 |  |  |  |  |  | 432 |  |  |  | 3 |
Fiscal 2028 |  |  |  |  |  | 297 |  |  |  | 1 |
Thereafter |  |  |  |  |  | 383 |  |  |  | 4 |
Total future undiscounted lease payments |  |  |  |  |  | 3,033 |  |  |  | 46 |
Less imputed interest |  |  |  |  |  | 231 |  |  |  | 4 |
Total reported lease liability |  |  |  |  | $ | 2,802 |  |  | $ | 42 |
(1)Lease payments exclude $63 million of legally binding fixed costs for leases signed but not yet commenced.

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