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Fair Value Measurements (Tables)
6 Months Ended
Jul. 29, 2022
Fair Value Disclosures [Abstract]  
Fair Value Measurements - Recurring Basis The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis as of July 29, 2022, July 30, 2021, and January 28, 2022:
Fair Value Measurements at
(In millions)ClassificationMeasurement LevelJuly 29,
2022
July 30,
2021
January 28,
2022
Available-for-sale debt securities:
U.S. Treasury securitiesShort-term investmentsLevel 1$214 $139 $75 
Money market fundsShort-term investmentsLevel 1119 131 120 
Corporate debt securitiesShort-term investmentsLevel 254 50 
Commercial paperShort-term investmentsLevel 235 117 30 
Foreign government debt securitiesShort-term investmentsLevel 214 10 14 
Municipal obligationsShort-term investmentsLevel 210 — 10 
Certificates of depositShort-term investmentsLevel 1 959 14 
Agency securitiesShort-term investmentsLevel 2— 14 — 
U.S. Treasury securitiesLong-term investmentsLevel 131 148 132 
Corporate debt securitiesLong-term investmentsLevel 223 49 50 
Municipal obligationsLong-term investmentsLevel 213 
Foreign government debt securitiesLong-term investmentsLevel 2— 15 14 
Derivative instruments:
Forward interest rate swapsOther current assetsLevel 2$216 $— $66 
Fixed-to-floating interest rate swapsOther assetsLevel 2— — 
Forward interest rate swapsOther assetsLevel 2— 48 
Forward interest rate swapsOther current liabilitiesLevel 2— — 
Fixed-to-floating interest rate swapsOther liabilitiesLevel 256 — 21 
Fair Value of Financial Instruments
Carrying amounts and the related estimated fair value of the Company’s long-term debt, excluding finance lease obligations, are as follows:
July 29, 2022July 30, 2021January 28, 2022
(In millions)Carrying AmountFair ValueCarrying AmountFair ValueCarrying AmountFair Value
Unsecured notes (Level 1)$28,237 $26,586 $22,592 $25,705 $24,056 $25,425 
Mortgage notes (Level 2)
Long-term debt (excluding finance lease obligations)
$28,241 $26,591 $22,597 $25,710 $24,061 $25,430