Leases (Notes)

6 Months Ended

Jul. 31, 2019

Leases of Lessee Disclosure [Text Block]

Leases

The Company leases certain retail locations, distribution and fulfillment centers, warehouses, office spaces, land and equipment throughout the U.S. and internationally.

The Company's lease cost consists of the following:



(Amounts in millions)	Three Months Ended July 31, 2019		Six Months Ended July 31, 2019
Operating lease cost	$	661	$	1,297
Finance lease cost
Amortization of right-of-use assets	116		227
Interest on lease obligations	75		152
Variable lease cost	168		335

Other lease information is as follows:



(Dollar amounts in millions)	Six Months Ended July 31, 2019
Cash paid for amounts included in measurement of lease obligations:
Operating cash flows from operating leases	$	1,294
Operating cash flows from finance leases	132
Financing cash flows from finance leases	245
Assets obtained in exchange for operating lease obligations	1,119
Assets obtained in exchange for finance lease obligations	319
Weighted-average remaining lease term - operating leases	15.7 years
Weighted-average remaining lease term - finance leases	14.7 years
Weighted-average discount rate - operating leases	5.3		%
Weighted-average discount rate - finance leases	9.2		%

The aggregate annual lease obligations at July 31, 2019 are as follows:



(Amounts in millions)
Fiscal Year	Operating Leases			Finance Leases
Remainder of 2020	$	1,237		$	356
2021	2,462			707
2022	2,230			653
2023	2,008			536
2024	1,820			470
Thereafter	16,319			5,676
Total undiscounted lease obligations	26,076			8,398
Less imputed interest	(8,202		)	(4,044		)
Net lease obligations	$	17,874		$	4,354

Upon adoption of ASU 2016-02, Leases (Topic 842), the Company's aggregate annual lease obligations includes leases with reasonably assured renewals. The aggregate minimum annual lease rentals as of January 31, 2019 for the remaining contractual term of non-cancelable leases under ASC 840 were as follows:



(Amounts in millions)
Fiscal Year	Operating Leases⁽¹⁾		Capital Lease and Financing Obligations
2020	$	1,856	$	917
2021	1,655		856
2022	1,420		794
2023	1,233		667
2024	1,063		593
Thereafter	6,891		6,069
Total minimum rentals	$	14,118	$	9,896
Less estimated executory costs			23
Net minimum lease payments			9,873
Financing obligation noncash gains and other			2,278
Less imputed interest			(4,739		)
Present value of minimum lease payments			$	7,412

(1)

Represents minimum contractual obligation for non-cancelable leases with initial or remaining terms greater than 12 months as of January 31, 2019.