XML 33 R15.htm IDEA: XBRL DOCUMENT v3.25.0.1
Leases
 12 Months Ended
Feb. 01, 2025
Leases [Abstract]  
Leases Leases
The following table provides the components of lease cost for operating leases for 2024, 2023 and 2022:
202420232022
(in millions)
Operating Lease Costs$267 $254 $238 
Variable Lease Costs108 107 107 
Short-term Lease Costs43 41 37 
Total Lease Cost$418 $402 $382 
The following table provides future maturities of operating lease liabilities as of February 1, 2025:
Fiscal Year(in millions)
2025$248 
2026244 
2027192 
2028159 
2029130 
Thereafter312 
Total Lease Payments1,285 
Less: Interest(210)
Present Value of Operating Lease Liabilities$1,075 
The Company accounts for all fixed consideration in a lease as a single lease component. Therefore, the payments used to measure the lease liability include fixed minimum rentals along with fixed operating costs such as common area maintenance and utilities.
As of February 1, 2025, the Company had additional operating lease commitments that have not yet commenced of $43 million.
The following table provides the weighted-average remaining lease term and discount rate for operating lease liabilities as of February 1, 2025 and February 3, 2024:
February 1,
2025		February 3,
2024
Weighted-average Remaining Lease Term (years)6.16.4
Weighted-average Discount Rate5.8 %5.6 %
The following table provides supplemental cash flow information related to the Company’s operating leases for 2024, 2023 and 2022:
202420232022
(in millions)
Cash paid for Operating Lease Liabilities (a)$279 $280 $249 
Lease Assets obtained as a result of new or modified Lease Liabilities, net of terminations91 185 207 
 ________________
(a)These payments are included within the Operating Activities section of the Consolidated Statements of Cash Flows.
Finance Leases
The Company leases certain fulfillment equipment under finance leases that expire at various dates through 2029. The Company records finance lease assets, net of accumulated amortization, in Property and Equipment, Net on the Consolidated Balance Sheets. Additionally, the Company records finance lease liabilities in Accrued Expenses and Other and Other Long-term Liabilities on the Consolidated Balance Sheets. Finance lease costs are comprised of the straight-line amortization of the lease asset and the accretion of interest expense under the effective interest method. The Company’s finance lease costs, assets and liabilities were not significant for any period presented.
Leases Leases
The following table provides the components of lease cost for operating leases for 2024, 2023 and 2022:
202420232022
(in millions)
Operating Lease Costs$267 $254 $238 
Variable Lease Costs108 107 107 
Short-term Lease Costs43 41 37 
Total Lease Cost$418 $402 $382 
The following table provides future maturities of operating lease liabilities as of February 1, 2025:
Fiscal Year(in millions)
2025$248 
2026244 
2027192 
2028159 
2029130 
Thereafter312 
Total Lease Payments1,285 
Less: Interest(210)
Present Value of Operating Lease Liabilities$1,075 
The Company accounts for all fixed consideration in a lease as a single lease component. Therefore, the payments used to measure the lease liability include fixed minimum rentals along with fixed operating costs such as common area maintenance and utilities.
As of February 1, 2025, the Company had additional operating lease commitments that have not yet commenced of $43 million.
The following table provides the weighted-average remaining lease term and discount rate for operating lease liabilities as of February 1, 2025 and February 3, 2024:
February 1,
2025		February 3,
2024
Weighted-average Remaining Lease Term (years)6.16.4
Weighted-average Discount Rate5.8 %5.6 %
The following table provides supplemental cash flow information related to the Company’s operating leases for 2024, 2023 and 2022:
202420232022
(in millions)
Cash paid for Operating Lease Liabilities (a)$279 $280 $249 
Lease Assets obtained as a result of new or modified Lease Liabilities, net of terminations91 185 207 
 ________________
(a)These payments are included within the Operating Activities section of the Consolidated Statements of Cash Flows.
Finance Leases
The Company leases certain fulfillment equipment under finance leases that expire at various dates through 2029. The Company records finance lease assets, net of accumulated amortization, in Property and Equipment, Net on the Consolidated Balance Sheets. Additionally, the Company records finance lease liabilities in Accrued Expenses and Other and Other Long-term Liabilities on the Consolidated Balance Sheets. Finance lease costs are comprised of the straight-line amortization of the lease asset and the accretion of interest expense under the effective interest method. The Company’s finance lease costs, assets and liabilities were not significant for any period presented.