Short-term Borrowings and Long-term Debt

9 Months Ended

Oct. 31, 2022

Debt Disclosure [Abstract]

Short-term Borrowings and Long-term Debt

Short-term Borrowings and Long-term Debt

The Company has various committed lines of credit in the U.S. that are used to support its commercial paper program. In April 2022, the Company renewed and extended its existing 364-day revolving credit facility of $10.0 billion as well as its five-year credit facility of $5.0 billion. In total, the Company had committed lines of credit in the U.S. of $15.0 billion at October 31, 2022 and January 31, 2022, all undrawn.

The following table provides the changes in the Company's long-term debt for the nine months ended October 31, 2022:

(Amounts in millions)	Long-term debt due within one year		Long-term debt		Total
Balances as of February 1, 2022	$	2,803	$	34,864	$	37,667
Proceeds from issuance of long-term debt	—		4,969		4,969
Repayments of long-term debt	(1,439)		—		(1,439)
Reclassifications of long-term debt	4,181		(4,181)		—
Other	(87)		(1,717)		(1,804)
Balances as of October 31, 2022	$	5,458	$	33,935	$	39,393

Debt Issuances

Information on significant long-term debt issued during the nine months ended October 31, 2022, for general corporate purposes, is as follows:

(Amounts in millions)
Issue Date	Principal Amount	Maturity Date	Fixed vs. Floating	Interest Rate	Net Proceeds
September 9, 2022	$1,750	September 9, 2025	Fixed	3.900%	$	1,744
September 9, 2022	$1,000	September 9, 2027	Fixed	3.950%	994
September 9, 2022	$1,250	September 9, 2032	Fixed	4.150%	1,239
September 9, 2022	$1,000	September 9, 2052	Fixed	4.500%	992
Total					$	4,969

These issuances 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.