Taxes (Tables)

12 Months Ended

Jan. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Income Before Income Taxes

The components of income before income taxes are as follows:

	Fiscal Years Ended January 31,
(Amounts in millions)	2023		2022		2021
U.S.	$	15,089	$	15,536	$	18,068
Non-U.S.	1,927		3,160		2,496
Total income before income taxes	$	17,016	$	18,696	$	20,564

Schedule of Income Tax Provision

A summary of the provision for income taxes is as follows:

	Fiscal Years Ended January 31,
(Amounts in millions)	2023		2022		2021
Current:
U.S. federal	$	2,030	$	3,313	$	2,991
U.S. state and local	610		649		742
International	2,654		1,553		1,127
Total current tax provision	5,294		5,515		4,860
Deferred:
U.S. federal	608		(671)		2,316
U.S. state and local	119		41		23
International	(297)		(129)		(341)
Total deferred tax expense (benefit)	430		(759)		1,998
Total provision for income taxes	$	5,724	$	4,756	$	6,858

Schedule of Income Tax Rate

A reconciliation of the significant differences between the U.S. statutory tax rate and the effective income tax rate on pre-tax income from continuing operations is as follows:

	Fiscal Years Ended January 31,
	2023		2022		2021
U.S. statutory tax rate	21.0	%	21.0	%	21.0	%
U.S. state income taxes, net of federal income tax benefit	3.1	%	2.8	%	2.9	%
Income taxed outside the U.S.	1.1	%	(1.5)	%	(0.1)	%
Separation, disposal and wind-down of certain business operations	6.3	%	0.5	%	7.1	%
Valuation allowance	1.7	%	4.4	%	2.3	%
Net impact of repatriated international earnings	(0.4)	%	(0.3)	%	(0.4)	%
Federal tax credits	(1.3)	%	(1.1)	%	(0.9)	%
Change in unrecognized tax benefits	0.3	%	0.2	%	0.8	%
Other, net	1.8	%	(0.6)	%	0.6	%
Effective income tax rate	33.6	%	25.4	%	33.3	%

Schedule of Deferred Tax Balances

The significant components of the Company's deferred tax account balances are as follows:

	January 31,
(Amounts in millions)	2023		2022
Deferred tax assets:
Loss and tax credit carryforwards	$	7,690	$	9,456
Accrued liabilities	3,312		2,752
Share-based compensation	237		231
Lease obligations	4,653		4,320
Other	839		893
Total deferred tax assets	16,731		17,652
Valuation allowances	(7,815)		(9,542)
Deferred tax assets, net of valuation allowances	8,916		8,110
Deferred tax liabilities:
Property and equipment	4,352		4,414
Acquired intangibles	932		1,065
Inventory	3,032		1,588
Lease right of use assets	4,727		4,355
Mark-to-market investments	1,390		1,825
Other	249		307
Total deferred tax liabilities	14,682		13,554
Net deferred tax liabilities	$	5,766	$	5,444

Schedule of Deferred Tax Classification in the Balance Sheet

The deferred taxes noted above are classified as follows in the Company's Consolidated Balance Sheets:

	January 31,
(Amounts in millions)	2023		2022
Balance Sheet classification
Assets:
Other long-term assets	$	1,503	$	1,473
Liabilities:
Deferred income taxes and other	7,269		6,917
Net deferred tax liabilities	$	5,766	$	5,444

Reconciliation of Unrecognized Tax Benefits From Continuing Operations

A reconciliation of gross unrecognized tax benefits from continuing operations is as follows:

	Fiscal Years Ended January 31,
(Amounts in millions)	2023		2022		2021
Gross unrecognized tax benefits, beginning of year	$	3,245	$	3,135	$	1,817
Increases related to prior year tax positions	79		170		92
Decreases related to prior year tax positions	(248)		(97)		(264)
Increases related to current year tax positions	357		75		1,582
Settlements during the period	(89)		(5)		(64)
Lapse in statutes of limitations	(37)		(33)		(28)
Gross unrecognized tax benefits, end of year	$	3,307	$	3,245	$	3,135