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Leases | 12 Months Ended
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Feb. 01, 2025
Leases [Abstract] |
Leases | 6. Leases Supplemental balance sheet information related to our leases was as follows ($ in millions):
| Balance Sheet Location |  | February 1, 2025 |  | February 3, 2024
Assets |  |  |  |  |  |  |  |  |
Operating leases | Operating lease assets |  | $ | 2,833 |  |  | $ | 2,758 |
Finance leases | Property under finance leases, net(1) |  |  | 34 |  |  |  | 43 |
Total lease assets |  |  | $ | 2,867 |  |  | $ | 2,801 |
Liabilities |  |  |  |  |  |  |  |  |
Current: |  |  |  |  |  |  |  |  |
Operating leases | Current portion of operating lease liabilities |  | $ | 617 |  |  | $ | 618 |
Finance leases | Current portion of long-term debt |  |  | 10 |  |  |  | 13 |
Non-current: |  |  |  |  |  |  |  |  |
Operating leases | Long-term operating lease liabilities |  |  | 2,282 |  |  |  | 2,199 |
Finance leases | Long-term debt |  |  | 15 |  |  |  | 21 |
Total lease liabilities |  |  | $ | 2,924 |  |  | $ | 2,851 |
(1)Finance leases were recorded net of accumulated depreciation of $54 million and $54 million as of February 1, 2025 and February 3, 2024, respectively. Costs and cash flow impacts associated with our finance leases were immaterial in the periods presented. Components of our total operating lease cost were as follows ($ in millions):
| Statement of Earnings Location |  | 2025 |  | 2024 |  | 2023
Operating lease cost(1) | Cost of sales and SG&A(2) |  | $ | 784 |  |  | $ | 777 |  |  | $ | 780 |
Variable lease cost | Cost of sales and SG&A(2) |  |  | 236 |  |  |  | 239 |  |  |  | 233 |
Sublease income | SG&A |  |  | (13) |  |  |  | (11) |  |  |  | (12) |
Total operating lease cost |  |  | $ | 1,007 |  |  | $ | 1,005 |  |  | $ | 1,001 |
(1)Includes short-term leases, which are immaterial. (2)Supply chain-related amounts are included in Cost of sales. Other information related to our operating leases was as follows ($ in millions):
|  |  | 2025 |  | 2024
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |
Operating cash flows |  | $ | 781 |  |  | $ | 772 |
Lease assets obtained in exchange for new lease liabilities |  | $ | 771 |  |  | $ | 717 |
Weighted average remaining lease term (in years) |  |  | 5.4 |  |  |  | 5.2 |
Weighted average discount rate |  |  | 4.1 | % |  |  | 3.6 | %
Future lease payments under our non-cancellable operating leases as of February 1, 2025, were as follows ($ in millions):
|  |  |  |  | Operating Leases(1)
Fiscal 2026 |  |  |  |  | $ | 723 |
Fiscal 2027 |  |  |  |  |  | 703 |
Fiscal 2028 |  |  |  |  |  | 574 |
Fiscal 2029 |  |  |  |  |  | 429 |
Fiscal 2030 |  |  |  |  |  | 312 |
Thereafter |  |  |  |  |  | 522 |
Total future undiscounted lease payments |  |  |  |  |  | 3,263 |
Less imputed interest |  |  |  |  |  | 364 |
Total reported lease liability |  |  |  |  | $ | 2,899 |
(1)Lease payments exclude $19 million of legally binding fixed costs for leases signed but not yet commenced.

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