v3.26.1
Retirement Plans
 12 Months Ended
Jan. 30, 2026
Retirement Benefits [Abstract]  
Retirement Plans
Note 9—Retirement Plans:
Defined Contribution Plans
The Company sponsors the Science Applications International Corporation Retirement Plan (a qualified defined contribution 401(k) plan) and an employee stock ownership plan, in which most employees are eligible to participate. There are a variety of investment options available, including the Company's stock.
The Science Applications International Corporation Retirement Plan allows eligible participants to contribute a portion of their income through payroll deductions, and the Company makes matching company contributions and may also make discretionary contributions.
The Company contributions expensed for defined contribution plans were $89 million, $86 million and $82 million in fiscal 2026, 2025 and 2024, respectively.
Deferred Compensation Plans
The Company maintains the Science Applications International Corporation Deferred Compensation Plan ("DCP") which provides certain eligible employees and directors with an opportunity to defer some or all of their compensation on an unfunded, nonqualified basis. Participant deferrals are fully vested and diversified at the participant’s direction among the investment options offered under the DCP. Participant accounts are credited with a rate of return based on the performance of the investment options selected. Distributions are made in cash. Deferred balances are paid on retirement based on the participant’s payout election, or upon termination. The Company may provide discretionary contributions to participants, but no Company contributions have been made.
The Science Applications International Corporation 401(k) Excess Deferral Plan ("Excess Plan") was also closed on December 31, 2014, and no further deferrals are allowed. Participant deferrals are fully vested and diversified at the participant’s direction among the investment options offered under the Excess Plan. Deferred balances are paid on retirement or termination.
Defined Benefit Plans
In connection with the acquisition of Engility Holdings, Inc. ("Engility") in fiscal 2019, the Company assumed two defined benefit plans sponsored by Engility for certain current and former employees: a Defined Benefit Pension Plan ("Pension Plan") and a Retiree Health Reimbursement Account Plan ("RHRA Benefit Plan"). Membership and participants' calculated pension benefits are frozen in the Pension Plan and membership in the RHRA Benefit Plan is frozen.
Obligations and Funded Status
The projected benefit obligation of the Pension Plan was $45 million and $46 million as of January 30, 2026 and January 31, 2025, respectively, and the fair value of the Pension Plan assets was $47 million and $44 million as of January 30, 2026 and January 31, 2025, respectively. The Pension Plan funded status was overfunded $2 million and underfunded $2 million as of January 30, 2026 and January 31, 2025, respectively.
The projected benefit obligation and underfunded status of the RHRA Benefit Plan was $7 million as of January 30, 2026 and January 31, 2025.
The funded status of the Defined Benefit Plans is included in “Other assets,” “Other accrued liabilities,” and “Other long-term liabilities” on the consolidated balance sheets.
Assumptions
The Company uses the spot rate approach to measure liabilities and interest costs for defined benefit obligations. Under the spot rate approach, the Company uses individual spot rates along the yield curve that corresponds with the timing of each benefit payment.
The discount rates represent the estimated rate at which the Company could effectively settle its defined benefit obligations using a high-quality bond yield curve.
The assumed long-term rate of return on plan assets, which is the average return expected on the funds invested or to be invested to provide future benefits to pension plan participants, is determined by an annual review of historical returns on plan assets. In selecting the expected long-term rate of return on assets used for the Pension Plan, the Company considered its investment return goals stated in the Pension Plan's investment policy. This process included determining expected returns for the various asset classes that comprise the Pension Plan's target asset allocation.
The following assumptions were used to determine the benefit obligations and net periodic benefit costs:
Pension PlanRHRA Benefit Plan
January 30, 2026January 31, 2025February 2, 2024January 30, 2026January 31, 2025February 2, 2024
Discount rate5.21%5.50%5.16%4.85%5.29%5.08%
Interest cost effective rate5.19%5.04%4.82%5.02%4.97%4.75%
Expected rate of return on assets5.25%5.25%5.25%N/AN/AN/A
Pension Plan Assets
The Company's investment policy includes a periodic review of the Pension Plan's investment in the various asset classes. Risk management practices include regular evaluations of fund managers to ensure the risk assumed is commensurate with the given investment style and objectives. According to the plan's investment policy, performance will be evaluated across all time periods with a particular emphasis on longer-term returns relative to associated peers and benchmarks. During fiscal 2026, management approved and implemented a glide path asset allocation strategy that is designed to achieve and maintain a fully funded status, balancing Company contribution requirements with potential market risks. The glide path strategy provides for a variable asset allocation that is more heavily weighted toward fixed income securities as the Pension Plan’s funding percentage increases.
The fair value measurement of plan assets by category is as follows:
Asset CategoryFair Value HierarchyJanuary 30, 2026January 31, 2025
(in millions)
Mutual funds
EquityLevel 1$5 $29 
Fixed incomeLevel 140 7 
Collective trust - fixed incomeLevel 2— 7 
Guaranteed deposit accountLevel 32 1 
Total$47 $44 
Estimated Future Benefit Payments
The following table sets forth the expected timing of benefit payments by fiscal year:
Fiscal YearPension PlanRHRA Benefit PlanTotal
(in millions)
2027$5 $1 $6 
20285 1 6 
20294 1 5 
20304 1 5 
20314 1 5 
Five subsequent fiscal years$18 $2 $20