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v3.23.1

Financing (Tables) | 12 Months Ended
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Jan. 28, 2023
Debt Disclosure [Abstract] |
Schedule of Company Debt | The Company’s debt is as follows:
| January 28, 2023 |  | January 29, 2022
(millions)
Long-term debt: |  |  |
5.875% Senior notes due 2029 | $ | 500 |  |  | $ | 500 |
5.875% Senior notes due 2030 | 425 |  |  | — |
6.125% Senior notes due 2032 | 425 |  |  | — |
4.5% Senior notes due 2034 | 367 |  |  | 367 |
5.125% Senior notes due 2042 | 250 |  |  | 250 |
4.3% Senior notes due 2043 | 250 |  |  | 250 |
6.375% Senior notes due 2037 | 192 |  |  | 192 |
6.7% Senior exchanged debentures due 2034 | 181 |  |  | 183 |
7.0% Senior debentures due 2028 | 105 |  |  | 105 |
6.9% Senior debentures due 2029 | 79 |  |  | 79 |
6.7% Senior exchanged debentures due 2028 | 73 |  |  | 74 |
6.79% Senior debentures due 2027 | 71 |  |  | 71 |
6.7% Senior debentures due 2028 | 29 |  |  | 29 |
6.7% Senior debentures due 2034 | 18 |  |  | 18 |
8.75% Senior exchanged debentures due 2029 | 13 |  |  | 13 |
6.9% Senior debentures due 2032 | 12 |  |  | 12 |
7.6% Senior debentures due 2025 | 6 |  |  | 6 |
7.875% Senior exchanged debentures due 2030 | 5 |  |  | 5 |
7.875% Senior debentures due 2030 | 5 |  |  | 5 |
6.9% Senior exchanged debentures due 2032 | 1 |  |  | 5 |
2.875% Senior notes due 2023 | — |  |  | 504
3.625% Senior notes due 2024 | — |  |  | 350
4.375% Senior notes due 2023 | — |  |  | 161
6.65% Senior exchanged debentures due 2024 | — |  |  | 81
6.65% Senior debentures due 2024 | — |  |  | 36
Unamortized debt issue costs and discount | (28) |  |  | (22) |
Premium on acquired debt, using an effective interest yield of 5.76% to 6.021% | 17 |  | 21
| $ | 2,996 |  |  | $ | 3,295 |
Interest Expense and Losses on Early Retirement | Interest expense and losses on early retirement of debt are as follows:
| 2022 |  | 2021 |  | 2020
|  | (millions) |  |
Interest on debt | $ | 185 |  |  | $ | 246 |  |  | $ | 273 |
Amortization of debt premium | (2) |  |  | (3) |  |  | (4) |
Amortization of financing costs and debt discount | 13 |  |  | 26 |  |  | 23 |
Interest on finance leases | 1 |  |  | 1 |  |  | 1 |
| 197 |  |  | 270 |  |  | 293 |
Less interest capitalized on construction | 22 |  |  | 14 |  |  | 9 |
Interest expense | $ | 175 |  |  | $ | 256 |  |  | $ | 284 |
Losses on early retirement of debt | $ | 31 |  |  | $ | 199 |  |  | $ | — |
Future Maturities of Long-term Debt | Future maturities of long-term debt are shown below:
| (millions)
Fiscal year |
2024 | $ | — |
2025 | 6 |
2026 | — |
2027 | 71 |
2028 | 207 |
After 2028 | 2,723 |
Detail of Debt Repayments | The following table shows the detail of debt repayments:
| 2022 |  | 2021 |  | 2020
|  |  | (millions) |  |
Revolving credit facility | $ | 1,959 |  |  | $ | 585 |  |  | $ | 1,500 |
2.875% Senior notes due 2023 | 504 |  |  | 136 |  |  | — |
3.625% Senior notes due 2024 | 350 |  |  | 150 |  |  | — |
4.375% Senior notes due 2023 | 161 |  |  | 49 |  |  | — |
6.65% Senior debentures due 2024 | 81 |  |  | 5 |  |  | — |
6.65% Debentures due 2024 | 36 |  |  | — |  |  | — |
6.9% Senior debentures due 2032 | 4 |  |  | — |  |  | — |
6.7% Senior debentures due 2034 | 2 |  |  | — |  |  | — |
6.7% Senior debentures due 2028 | 1 |  |  | — |  |  | — |
8.375% Senior secured notes due 2025 | — |  |  | 1,300 |  |  | — |
3.875% Senior notes due 2022 | — |  |  | 450 |  |  | — |
7.6% Senior debentures due 2025 | — |  |  | 18 |  |  | — |
3.45% Senior notes due 2021 | — |  |  | — |  |  | 500 |
10.25% Senior debentures due 2021 | — |  |  | — |  |  | 33 |
9.5% amortizing debentures due 2021 | — |  |  | 2 |  |  | 4 |
9.75% amortizing debentures due 2021 | — |  |  | 1 |  |  | 2 |
| $ | 3,098 |  |  | $ | 2,696 |  |  | $ | 2,039 |

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