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Fair Value Measurements | 3 Months Ended
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Apr. 29, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract] |
Fair Value Measurements | Fair Value Measurements The following table shows the Company's financial assets that are required to be measured at fair value on a recurring basis, by level within the hierarchy as defined by applicable accounting standards: Level 1: Quoted prices in active markets for identical assets Level 2: Significant observable inputs for the assets Level 3: Significant unobservable inputs for the assets
| April 29, 2023 |  | April 30, 2022
|  |  | Fair Value Measurements |  |  |  | Fair Value Measurements
| Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total |  | Level 1 |  | Level 2 |  | Level 3
| (millions)
Marketable equity and debt securities | $ | 36 |  |  | $ | 36 |  |  | $ | — |  |  | $ | — |  |  | $ | 35 |  |  | $ | 35 |  |  | $ | — |  |  | $ | — |
Other financial instruments not measured at fair value on a recurring basis include cash and cash equivalents, receivables, certain short-term investments and other assets, short-term debt, merchandise accounts payable, accounts payable and accrued liabilities and long-term debt. With the exception of long-term debt, the carrying amount of these financial instruments approximates fair value because of the short maturity of these instruments. The fair values of long-term debt, excluding capitalized leases, are generally estimated based on quoted market prices for identical or similar instruments, and are classified as Level 2 measurements within the hierarchy as defined by applicable accounting standards. The following table shows the estimated fair value of the Company's long-term debt:
| April 29, 2023 |  | April 30, 2022
Notional Amount |  | Carrying Amount |  | Fair Value |  | Notional Amount |  | Carrying Amount |  | Fair Value
| (millions)
Long-term debt | $ | 3,007 |  |  | $ | 2,996 |  |  | $ | 2,468 |  |  | $ | 3,007 |  |  | $ | 2,994 |  |  | $ | 2,675 |

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- Definition The entire disclosure of the fair value measurement of assets and liabilities, which includes financial instruments measured at fair value that are classified in shareholders' equity, which may be measured on a recurring or nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//820/tableOfContent + Details
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