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Debt
 3 Months Ended
May 04, 2024
Debt [Abstract]  
Debt 6. Debt

Short-Term Debt

U.S. Revolving Credit Facility

We have a $1.25 billion five-year senior unsecured revolving credit facility agreement (the “Five-Year Facility Agreement”) with a syndicate of banks that expires in April 2028. There were no borrowings outstanding under the Five-Year Facility Agreement as of May 4, 2024, February 3, 2024, or April 29, 2023.

Long-Term Debt

Long-term debt consisted of the following ($ in millions):

May 4, 2024

February 3, 2024

April 29, 2023

Notes, 4.45%, due October 1, 2028

$

500 

$

500 

$

500 

Notes, 1.95%, due October 1, 2030

650 

650 

650 

Interest rate swap valuation adjustments

(27)

(11)

(11)

Subtotal

1,123 

1,139 

1,139 

Debt discounts and issuance costs

(8)

(8)

(9)

Finance lease obligations

34 

34 

40 

Total long-term debt

1,149 

1,165 

1,170 

Less current portion

15 

13 

15 

Total long-term debt, less current portion

$

1,134 

$

1,152 

$

1,155 

Fair Value and Future Maturities

See Note 4, Fair Value Measurements, for the fair value of long-term debt. Other than the $500 million of principal amount of notes due October 1, 2028, we do not have any future maturities of long-term debt within the next five fiscal years.