Item 3. Quantitative and Qualitative Disclosures About Market Risk.

​

There have been no material changes in our exposure to market risk from the information provided in Item 7A. Quantitative and Qualitative Disclosures About Market Risk in our Annual Report on Form 10-K for the fiscal year ended February 3, 2024, with the exception of the forward-starting interest rate swaps we terminated and the treasury lock agreements we entered into during the second quarter of 2024 described below.

​

As of August 17, 2024, we had no forward-starting interest rate swap agreements outstanding.

​

As of August 17, 2024, we maintained two 10-year treasury lock agreements with an aggregate notional amount of $2.1 billion and a weighted-average interest rate of 3.91% and two 30-year treasury lock agreements with an aggregate notional amount of $3.25 billion and a weighted-average interest rate of 4.11%. The purpose of the treasury locks was to hedge the U.S. Treasury benchmark interest rate associated with future interest payments on the forecasted issuance of fixed-rate debt during the third quarter of 2024. As of August 17, 2024, the fair value of these treasury locks was recorded in “Other assets” for $9 million and accumulated other comprehensive income for $7 million, net of tax.

​

​