Fair Value of Financial Assets and Liabilities

6 Months Ended

Aug. 01, 2021

Fair Value Disclosures [Abstract]

Fair Value of Financial Assets and Liabilities

Fair Value of Financial Assets and LiabilitiesThe fair values of our financial assets and liabilities are determined using quoted market prices of identical assets or quoted market prices of similar assets from active markets. We review fair value hierarchy classification on a quarterly basis.

		Fair Value at
	Pricing Category	August 1, 2021		January 31, 2021
		(In millions)
Assets
Cash equivalents and marketable securities:
Money market funds	Level 1	$	2,097	$	313
Corporate debt securities	Level 2	$	8,611	$	4,444
Debt securities issued by the United States Treasury	Level 2	$	5,080	$	2,846
Debt securities issued by United States government agencies	Level 2	$	2,372	$	2,976
Certificates of deposit	Level 2	$	962	$	705
Foreign government bonds	Level 2	$	241	$	67
Prepaid expenses and other current assets:
Publicly-held equity security (1)	Level 1	$	128	$	—
Other assets:
Investment in non-affiliated entities (2)	Level 3	$	147	$	144
Liabilities (3)
2.20% Notes Due 2021	Level 2	$	1,001	$	1,011
0.309% Notes Due 2023	Level 2	$	1,251	$	—
0.584% Notes Due 2024	Level 2	$	1,254	$	—
3.20% Notes Due 2026	Level 2	$	1,106	$	1,124
1.55% Notes Due 2028	Level 2	$	1,261	$	—
2.85% Notes Due 2030	Level 2	$	1,640	$	1,654
2.00% Notes Due 2031	Level 2	$	1,271	$	—
3.50% Notes Due 2040	Level 2	$	1,152	$	1,152
3.50% Notes Due 2050	Level 2	$	2,320	$	2,308
3.70% Notes Due 2060	Level 2	$	603	$	602

(1)    Investment in a publicly-traded equity security subject to short-term selling restrictions. An unrealized loss on the investment of $6 million was recorded in other income (expense), net in the second quarter of fiscal year 2022 and an unrealized gain of $118 million was recorded in other income (expense), net in the first half of fiscal year 2022.

(2)    Investment in private non-affiliated entities is recorded at fair value on a non-recurring basis only if an impairment or observable price adjustment occurs in the period with changes in fair value recorded through net income. The amount recorded as of August 1, 2021 has not been significant.

(3)    These liabilities are carried on our Consolidated Balance Sheets at their original issuance value, net of unamortized debt discount and issuance costs, and are not marked to fair value each period. Refer to Note 12 of the Notes to Condensed Consolidated Financial Statements for additional information