Short-term Borrowings and Long-term Debt (Notes)

6 Months Ended

Jul. 31, 2019

Short-term Borrowings and Long-term Debt [Abstract]

Debt Disclosure [Text Block]

Short-term Borrowings and Long-term Debt

The Company has various committed lines of credit in the U.S., committed with 22 financial institutions, used to support its commercial paper program. In May 2019, the Company renewed and extended its existing five year credit facility of $5 billion and its 364-day revolving credit facility of $10 billion. In total, the Company has committed lines of credit in the U.S. of $15 billion at July 31, 2019 and January 31, 2019, all undrawn.

The following table provides the changes in the Company's long-term debt for the six months ended July 31, 2019:

(Amounts in millions)	Long-term debt due within one year			Long-term debt			Total
Balances as of February 1, 2019	$	1,876		$	43,520		$	45,396
Proceeds from issuance of long-term debt	—			4,020			4,020
Repayments of long-term debt	(407		)	—			(407		)
Reclassifications of long-term debt	2,932			(2,932		)	—
Other	(5		)	(204		)	(209		)
Balances as of July 31, 2019	$	4,396		$	44,404		$	48,800

Debt Issuances

Information on long-term debt issued during the six months ended July 31, 2019:

(Amounts in millions)
Issue Date	Principal Amount	Maturity Date	Fixed vs. Floating	Interest Rate	Net Proceeds
April 23, 2019	1,500 USD	July 8, 2024	Fixed	2.850%	$	1,493
April 23, 2019	1,250 USD	July 8, 2026	Fixed	3.050%	1,242
April 23, 2019	1,250 USD	July 8, 2029	Fixed	3.250%	1,243
Various	42 USD	Various	Various	Various	42
Total					$	4,020

These issuances, which are used for general corporate purposes, are senior, unsecured notes which rank equally with all other senior, unsecured debt obligations of the Company, and are not convertible or exchangeable. These issuances do not contain any financial covenants and do not restrict the Company's ability to pay dividends or repurchase company stock.

Maturities

The following table provides details of debt repayments during the six months ended July 31, 2019:

(Amounts in millions)
Maturity Date	Original Amount	Fixed vs. Floating	Interest Rate	Repayment
February 1, 2019	500 USD	Fixed	4.125%	$	364
Various	43 USD	Various	Various	43
Total repayment of matured debt				$	407