Cash Equivalents and Marketable Securities

9 Months Ended

Oct. 29, 2023

Investments, Debt and Equity Securities [Abstract]

Cash Equivalents and Marketable Securities

Cash Equivalents and Marketable Securities 

Our cash equivalents and marketable securities related to debt securities are classified as “available-for-sale” debt securities.

The following is a summary of cash equivalents and marketable securities:

	October 29, 2023
	Amortized Cost		Unrealized Gain		Unrealized Loss		Estimated Fair Value		Reported as
									Cash Equivalents		Marketable Securities
	(In millions)
Corporate debt securities	$	6,937	$	1	$	(20)	$	6,918	$	1,714	$	5,204
Debt securities issued by the U.S. Treasury	5,075		1		(24)		5,052		—		5,052
Money market funds	3,190		—		—		3,190		3,190		—
Debt securities issued by U.S. government agencies	2,316		—		(5)		2,311		100		2,211
Certificates of deposit	418		—		—		418		198		220
Foreign government bonds	175		—		—		175		100		75
Total	$	18,111	$	2	$	(49)	$	18,064	$	5,302	$	12,762

	January 29, 2023
	Amortized Cost		Unrealized Gain		Unrealized Loss		Estimated Fair Value		Reported as
									Cash Equivalents		Marketable Securities
	(In millions)
Corporate debt securities	$	4,809	$	—	$	(12)	$	4,797	$	1,087	$	3,710
Debt securities issued by the U.S. Treasury	4,185		1		(44)		4,142		—		4,142
Debt securities issued by U.S. government agencies	1,836		—		(2)		1,834		50		1,784
Money market funds	1,777		—		—		1,777		1,777		—
Certificates of deposit	365		—		—		365		134		231
Foreign government bonds	140		—		—		140		100		40
Total	$	13,112	$	1	$	(58)	$	13,055	$	3,148	$	9,907

The following tables provide the breakdown of unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous loss position:

	October 29, 2023
	Less than 12 Months				12 Months or Greater				Total
	Estimated Fair Value		Gross Unrealized Loss		Estimated Fair Value		Gross Unrealized Loss		Estimated Fair Value		Gross Unrealized Loss
	(In millions)
Corporate debt securities	$	2,773	$	(16)	$	852	$	(4)	$	3,625	$	(20)
Debt securities issued by the U.S. Treasury	2,098		(12)		1,371		(12)		3,469		(24)
Debt securities issued by U.S. government agencies	1,447		(5)		—		—		1,447		(5)
Total	$	6,318	$	(33)	$	2,223	$	(16)	$	8,541	$	(49)

	January 29, 2023
	Less than 12 Months				12 Months or Greater				Total
	Estimated Fair Value		Gross Unrealized Loss		Estimated Fair Value		Gross Unrealized Loss		Estimated Fair Value		Gross Unrealized Loss
	(In millions)
Debt securities issued by the U.S. Treasury	$	2,444	$	(21)	$	1,172	$	(23)	$	3,616	$	(44)
Corporate debt securities	1,188		(7)		696		(5)		1,884		(12)
Debt securities issued by U.S. government agencies	1,307		(2)		—		—		1,307		(2)
Total	$	4,939	$	(30)	$	1,868	$	(28)	$	6,807	$	(58)

The gross unrealized losses are related to fixed income securities, driven primarily by changes in interest rates. Net realized gains and losses were not significant for all periods presented.

The amortized cost and estimated fair value of cash equivalents and marketable securities are shown below by contractual maturity.

	October 29, 2023				January 29, 2023
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
	(In millions)
Less than one year	$	11,405	$	11,388	$	9,738	$	9,708
Due in 1 - 5 years	6,706		6,676		3,374		3,347
Total	$	18,111	$	18,064	$	13,112	$	13,055