v3.25.1
Debt
 3 Months Ended
Apr. 27, 2025
Debt Disclosure [Abstract]  
Debt Debt
Long-Term Debt
Expected
Remaining Term (years)		Effective
Interest Rate		Carrying Value at
Apr 27, 2025Jan 26, 2025
(In millions)
3.20% Notes Due 2026
1.43.31%$1,000 $1,000 
1.55% Notes Due 2028
3.11.64%1,250 1,250 
2.85% Notes Due 2030
4.92.93%1,500 1,500 
2.00% Notes Due 2031
6.12.09%1,250 1,250 
3.50% Notes Due 2040
14.93.54%1,000 1,000 
3.50% Notes Due 2050
24.93.54%2,000 2,000 
3.70% Notes Due 2060
35.03.73%500 500 
Unamortized debt discount and issuance costs(36)(37)
Net long-term carrying amount
$8,464 $8,463 
As of April 27, 2025 and January 26, 2025, the estimated fair value of debt was $7.3 billion and $7.2 billion, respectively. The estimated fair values are based on Level 2 inputs.
Our notes are unsecured senior obligations. Existing and future liabilities of our subsidiaries will be effectively senior to the notes. Our notes pay interest semi-annually. We may redeem each of our notes prior to maturity, subject to a make-whole premium. The maturity of the notes is calendar year.
As of April 27, 2025, we complied with the required covenants, which are non-financial in nature, under the outstanding notes.
Commercial Paper
We have a $575 million commercial paper program to support general corporate purposes. As of April 27, 2025, we had no commercial paper outstanding.