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Leases
 12 Months Ended
Feb. 03, 2024
Leases [Abstract]  
Leases Leases
The following table provides the components of lease cost for operating leases for 2023, 2022 and 2021:
202320222021
(in millions)
Operating Lease Costs$254 $238 $216 
Variable Lease Costs107 107 108 
Short-term Lease Costs41 37 34 
Total Lease Cost$402 $382 $358 
The following table provides future maturities of operating lease liabilities as of February 3, 2024:
Fiscal Year(in millions)
2024$242 
2025257 
2026229 
2027182 
2028150 
Thereafter357 
Total Lease Payments1,417 
Less: Interest(232)
Present Value of Operating Lease Liabilities$1,185 
The Company accounts for all fixed consideration in a lease as a single lease component. Therefore, the payments used to measure the lease liability include fixed minimum rentals along with fixed operating costs such as common area maintenance and utilities.
As of February 3, 2024, the Company had additional operating lease commitments that have not yet commenced of $31 million.
The following table provides the weighted average remaining lease term and discount rate for operating lease liabilities as of February 3, 2024 and January 28, 2023:
February 3,
2024		January 28,
2023
Weighted Average Remaining Lease Term (years)6.46.6
Weighted Average Discount Rate5.6 %5.4 %
The following table provides supplemental cash flow information related to the Company’s operating leases for 2023, 2022 and 2021:
202320222021
(in millions)
Cash paid for Operating Lease Liabilities (a)$280 $249 $245 
Lease Assets obtained as a result of new Lease Liabilities185 207 209 
 ________________
(a)These payments are included within the Operating Activities section of the Consolidated Statements of Cash Flows.
Finance Leases
The Company leases certain fulfillment equipment under finance leases that expire at various dates through 2029. The Company records finance lease assets, net of accumulated amortization, in Property and Equipment, Net on the Consolidated Balance Sheets. Additionally, the Company records finance lease liabilities in Accrued Expenses and Other and Other Long-term Liabilities on the Consolidated Balance Sheets. Finance lease costs are comprised of the straight-line amortization of the lease asset and the accretion of interest expense under the effective interest method. The Company’s finance lease assets and liabilities were not significant for any period presented.
Leases Leases
The following table provides the components of lease cost for operating leases for 2023, 2022 and 2021:
202320222021
(in millions)
Operating Lease Costs$254 $238 $216 
Variable Lease Costs107 107 108 
Short-term Lease Costs41 37 34 
Total Lease Cost$402 $382 $358 
The following table provides future maturities of operating lease liabilities as of February 3, 2024:
Fiscal Year(in millions)
2024$242 
2025257 
2026229 
2027182 
2028150 
Thereafter357 
Total Lease Payments1,417 
Less: Interest(232)
Present Value of Operating Lease Liabilities$1,185 
The Company accounts for all fixed consideration in a lease as a single lease component. Therefore, the payments used to measure the lease liability include fixed minimum rentals along with fixed operating costs such as common area maintenance and utilities.
As of February 3, 2024, the Company had additional operating lease commitments that have not yet commenced of $31 million.
The following table provides the weighted average remaining lease term and discount rate for operating lease liabilities as of February 3, 2024 and January 28, 2023:
February 3,
2024		January 28,
2023
Weighted Average Remaining Lease Term (years)6.46.6
Weighted Average Discount Rate5.6 %5.4 %
The following table provides supplemental cash flow information related to the Company’s operating leases for 2023, 2022 and 2021:
202320222021
(in millions)
Cash paid for Operating Lease Liabilities (a)$280 $249 $245 
Lease Assets obtained as a result of new Lease Liabilities185 207 209 
 ________________
(a)These payments are included within the Operating Activities section of the Consolidated Statements of Cash Flows.
Finance Leases
The Company leases certain fulfillment equipment under finance leases that expire at various dates through 2029. The Company records finance lease assets, net of accumulated amortization, in Property and Equipment, Net on the Consolidated Balance Sheets. Additionally, the Company records finance lease liabilities in Accrued Expenses and Other and Other Long-term Liabilities on the Consolidated Balance Sheets. Finance lease costs are comprised of the straight-line amortization of the lease asset and the accretion of interest expense under the effective interest method. The Company’s finance lease assets and liabilities were not significant for any period presented.