LEASES (Tables)

3 Months Ended

Apr. 30, 2021

Leases [Abstract]

Components of lease expense and supplemental information

The following table presents components of lease costs included in the Condensed Consolidated Statements of Income for the periods indicated:

	Three Months Ended
	April 30, 2021		May 1, 2020
	(in millions)
Operating lease costs	$	142	$	131
Variable costs	33		44
Total lease costs	$	175	$	175

During both the three months ended April 30, 2021 and May 1, 2020, sublease income, finance lease costs, and short-term lease costs were immaterial.

The following table presents supplemental information related to operating leases included in the Condensed Consolidated Statements of Financial Position as of the dates indicated:

	Classification	April 30, 2021			January 29, 2021
		(in millions, except for term and discount rate)
Operating lease ROU assets	Other non-current assets	$	2,088		$	2,117
Current operating lease liabilities	Accrued and other current liabilities	$	440		$	436
Non-current operating lease liabilities	Other non-current liabilities	1,791			1,787
Total operating lease liabilities		$	2,231		$	2,223
Weighted-average remaining lease term (in years)		8.76			8.85
Weighted-average discount rate		3.40		%	3.47		%

The following table presents supplemental cash flow information related to leases for the periods indicated:

	Three Months Ended
	April 30, 2021		May 1, 2020
	(in millions)
Cash paid for amounts included in the measurement of lease liabilities — operating cash outflows from operating leases	$	134	$	131
ROU assets obtained in exchange for new operating lease liabilities	$	117	$	120

Maturity of operating lease liabilities

The following table presents the future maturities of the Company’s operating lease liabilities under non-cancelable leases and reconciles the undiscounted cash flows for these leases to the lease liability recognized on the Condensed Consolidated Statements of Financial Position as of the date indicated:

	April 30, 2021
	(in millions)
Fiscal 2022 (remaining nine months)	$	351
Fiscal 2023	469
Fiscal 2024	347
Fiscal 2025	260
Fiscal 2026	211
Thereafter	1,010
Total lease payments	2,648
Less: Imputed interest	(417)
Total	$	2,231
Current operating lease liabilities	$	440
Non-current operating lease liabilities	$	1,791