Derivative Financial Instruments

6 Months Ended

Jul. 31, 2019

Summary of Derivative Instruments [Abstract]

Derivative Financial Instruments

In connection with various derivative agreements, including master netting arrangements, the Company held cash collateral from counterparties of $216 million and $220 million at July 31, 2019 and January 31, 2019, respectively. Furthermore, as part of the master netting arrangements with each of these counterparties, the Company is also required to post collateral with a counterparty if the Company's net derivative liability position exceeds $150 million with such counterparties. The Company did not have any cash collateral posted with counterparties at July 31, 2019 or January 31, 2019.

At July 31, 2019 and January 31, 2019, the Company had ¥180 billion of outstanding long-term debt designated as a hedge of its net investment in Japan, as well as outstanding long-term debt of £1.7 billion at July 31, 2019 and January 31, 2019, that was designated as a hedge of its net investment in the United Kingdom. These nonderivative net investment hedges will mature on dates ranging from July 2020 to January 2039.

The Company's derivative instruments, as well as its nonderivative debt instruments designated and qualifying as net investment hedges, were classified as follows in the Company's Condensed Consolidated Balance Sheets:



	July 31, 2019						January 31, 2019
(Amounts in millions)	Fair Value Instruments		Net Investment Instruments		Cash Flow Instruments		Fair Value Instruments		Net Investment Instruments		Cash Flow Instruments
Derivative instruments
Derivative assets:
Other long-term assets	$	33	$	473	$	—	$	—	$	334	$	78

Derivative liabilities:
Deferred income taxes and other	3		—		617		78		—		350

Nonderivative hedging instruments
Long-term debt	—		3,707		—		—		3,863		—

Amounts related to the Company's derivatives expected to be reclassified from accumulated other comprehensive loss to net income during the next 12 months are not significant.