Dollar General (DG) 10-Q 3 Dec 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Oct. 30, 2020	Nov. 27, 2020
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Oct. 30, 2020
Entity File Number	001-11421
Entity Registrant Name	DOLLAR GENERAL CORPORATION
Entity Incorporation, State or Country Code	TN
Entity Tax Identification Number	61-0502302
Entity Address, Address Line One	100 MISSION RIDGE
Entity Address, City or Town	GOODLETTSVILLE
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37072
City Area Code	615
Local Phone Number	855-4000
Title of 12(b) Security	Common Stock, par value $0.875 per share
Trading Symbol	DG
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		245,000,903
Current Fiscal Year End Date	--01-29
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000029534
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 30, 2020	Jan. 31, 2020
Current assets:
Cash and cash equivalents	$ 2,199,443	$ 240,320
Merchandise inventories	5,025,810	4,676,848
Income taxes receivable	111,139	76,537
Prepaid expenses and other current assets	197,040	184,163
Total current assets	7,533,432	5,177,868
Net property and equipment	3,701,782	3,278,359
Operating lease assets	9,343,375	8,796,183
Goodwill	4,338,589	4,338,589
Other intangible assets, net	1,199,900	1,200,006
Other assets, net	36,364	34,079
Total assets	26,153,442	22,825,084
Current liabilities:
Current portion of operating lease liabilities	1,044,368	964,805
Accounts payable	3,770,528	2,860,682
Accrued expenses and other	1,060,602	709,156
Income taxes payable	10,713	8,362
Total current liabilities	5,886,211	4,543,005
Long-term obligations	4,131,573	2,911,993
Long-term operating lease liabilities	8,285,027	7,819,683
Deferred income taxes	686,694	675,227
Other liabilities	178,418	172,676
Commitments and contingencies
Shareholders' equity:
Preferred stock
Common stock	214,375	220,444
Additional paid-in capital	3,426,729	3,322,531
Retained earnings	3,346,821	3,162,660
Accumulated other comprehensive loss	(2,406)	(3,135)
Total shareholders' equity	6,985,519	6,702,500
Total liabilities and shareholders' equity	$ 26,153,442	$ 22,825,084

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 30, 2020	Nov. 01, 2019	Oct. 30, 2020	Nov. 01, 2019
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
Net sales	$ 8,199,625	$ 6,991,393	$ 25,332,315	$ 20,596,331
Cost of goods sold	5,631,385	4,926,307	17,350,148	14,380,033
Gross profit	2,568,240	2,065,086	7,982,167	6,216,298
Selling, general and administrative expenses	1,795,110	1,573,669	5,299,626	4,634,869
Operating profit	773,130	491,417	2,682,541	1,581,429
Interest expense	40,298	24,264	110,117	75,007
Income before income taxes	732,832	467,153	2,572,424	1,506,422
Income tax expense	158,572	101,603	560,117	329,304
Net income	$ 574,260	$ 365,550	$ 2,012,307	$ 1,177,118
Earnings per share:
Basic (in dollars per share)	$ 2.32	$ 1.43	$ 8.06	$ 4.57
Diluted (in dollars per share)	$ 2.31	$ 1.42	$ 8	$ 4.54
Weighted average shares outstanding:
Basic (in shares)	247,131	256,041	249,731	257,618
Diluted (in shares)	249,063	257,699	251,627	259,022
Dividends per share	$ 0.36	$ 0.32	$ 1.08	$ 0.96

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 30, 2020	Nov. 01, 2019	Oct. 30, 2020	Nov. 01, 2019
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 574,260	$ 365,550	$ 2,012,307	$ 1,177,118
Unrealized net gain (loss) on hedged transactions, net of related income tax expense (benefit) of $87, $86, $260 and $258, respectively	243	243	729	730
Comprehensive income	$ 574,503	$ 365,793	$ 2,013,036	$ 1,177,848

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 30, 2020	Nov. 01, 2019	Oct. 30, 2020	Nov. 01, 2019
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Unrealized net gain (loss) on hedged transactions, income tax expense (benefit)	$ 87	$ 86	$ 260	$ 258

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Total
Balances at Feb. 01, 2019	$ 227,072	$ 3,252,421	$ 2,941,107	$ (3,207)	$ 6,417,393
Balances (in shares) at Feb. 01, 2019	259,511
Increase (Decrease) in Shareholders' Equity
Net income			1,177,118		1,177,118
Dividends per common share			(246,787)		(246,787)
Unrealized net gain (loss) on hedged transactions				730	730
Share-based compensation expense		35,605			35,605
Repurchases of common stock	$ (4,870)		(780,431)		(785,301)
Repurchases of common stock (in shares)	(5,566)
Transition adjustment upon adoption of accounting standard (see Note 1)			28,830		28,830
Other equity and related transactions	$ 573	20,134	901	(901)	20,707
Other equity and related transactions (in shares)	655
Balances at Nov. 01, 2019	$ 222,775	3,308,160	3,120,738	(3,378)	6,648,295
Balances (in shares) at Nov. 01, 2019	254,600
Balances at Aug. 02, 2019	$ 224,935	3,292,902	3,234,944	(3,621)	6,749,160
Balances (in shares) at Aug. 02, 2019	257,068
Increase (Decrease) in Shareholders' Equity
Net income			365,550		365,550
Dividends per common share			(81,640)		(81,640)
Unrealized net gain (loss) on hedged transactions				243	243
Share-based compensation expense		11,100			11,100
Repurchases of common stock	$ (2,211)		(398,116)		(400,327)
Repurchases of common stock (in shares)	(2,527)
Other equity and related transactions	$ 51	4,158			4,209
Other equity and related transactions (in shares)	59
Balances at Nov. 01, 2019	$ 222,775	3,308,160	3,120,738	(3,378)	6,648,295
Balances (in shares) at Nov. 01, 2019	254,600
Balances at Jan. 31, 2020	$ 220,444	3,322,531	3,162,660	(3,135)	6,702,500
Balances (in shares) at Jan. 31, 2020	251,936
Increase (Decrease) in Shareholders' Equity
Net income			2,012,307		2,012,307
Dividends per common share			(268,638)		(268,638)
Unrealized net gain (loss) on hedged transactions				729	729
Share-based compensation expense		51,366			51,366
Repurchases of common stock	$ (7,038)		(1,559,508)		(1,566,546)
Repurchases of common stock (in shares)	(8,043)
Other equity and related transactions	$ 969	52,832			53,801
Other equity and related transactions (in shares)	1,107
Balances at Oct. 30, 2020	$ 214,375	3,426,729	3,346,821	(2,406)	6,985,519
Balances (in shares) at Oct. 30, 2020	245,000
Balances at Jul. 31, 2020	$ 217,906	3,381,819	3,758,995	(2,649)	7,356,071
Balances (in shares) at Jul. 31, 2020	249,033
Increase (Decrease) in Shareholders' Equity
Net income			574,260		574,260
Dividends per common share			(88,362)		(88,362)
Unrealized net gain (loss) on hedged transactions				243	243
Share-based compensation expense		16,889			16,889
Repurchases of common stock	$ (3,858)		(898,072)		(901,930)
Repurchases of common stock (in shares)	(4,408)
Other equity and related transactions	$ 327	28,021			28,348
Other equity and related transactions (in shares)	375
Balances at Oct. 30, 2020	$ 214,375	$ 3,426,729	$ 3,346,821	$ (2,406)	$ 6,985,519
Balances (in shares) at Oct. 30, 2020	245,000

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended				9 Months Ended
	Oct. 30, 2020	Jul. 31, 2020	May 01, 2020	Nov. 01, 2019	Oct. 30, 2020	Nov. 01, 2019
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
Dividends per share	$ 0.36	$ 0.36	$ 0.36	$ 0.32	$ 1.08	$ 0.96

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Oct. 30, 2020	Nov. 01, 2019
Cash flows from operating activities:
Net income	$ 2,012,307	$ 1,177,118
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	424,466	372,378
Deferred income taxes	11,207	14,308
Noncash share-based compensation	51,366	35,605
Other noncash (gains) and losses	9,266	10,531
Change in operating assets and liabilities:
Merchandise inventories	(352,261)	(401,006)
Prepaid expenses and other current assets	(13,525)	(24,345)
Accounts payable	919,806	425,414
Accrued expenses and other liabilities	357,320	108,906
Income taxes	(32,251)	(52,076)
Other	(4,161)	(5,723)
Net cash provided by (used in) operating activities	3,383,540	1,661,110
Cash flows from investing activities:
Purchases of property and equipment	(697,598)	(518,051)
Proceeds from sales of property and equipment	1,587	1,910
Net cash provided by (used in) investing activities	(696,011)	(516,141)
Cash flows from financing activities:
Issuance of long-term obligations	1,494,315
Repayments of long-term obligations	(2,564)	(525)
Net increase (decrease) in commercial paper outstanding	(425,200)	(90,800)
Borrowings under revolving credit facilities	300,000
Repayments of borrowings under revolving credit facilities	(300,000)
Costs associated with issuance of debt	(13,574)	(1,675)
Repurchases of common stock	(1,566,546)	(785,301)
Payments of cash dividends	(268,630)	(246,776)
Other equity and related transactions	53,793	20,697
Net cash provided by (used in) financing activities	(728,406)	(1,104,380)
Net increase (decrease) in cash and cash equivalents	1,959,123	40,589
Cash and cash equivalents, beginning of period	240,320	235,487
Cash and cash equivalents, end of period	2,199,443	276,076
Supplemental noncash investing and financing activities:
Right of use assets obtained in exchange for new operating lease liabilities	1,319,711	1,311,734
Purchases of property and equipment awaiting processing for payment, included in Accounts payable	$ 100,288	$ 96,950

Basis of presentation

Basis of presentation	9 Months Ended
	Oct. 30, 2020
Basis of presentation
Basis of presentation	1. Basis of presentation ​ The accompanying unaudited condensed consolidated financial statements of Dollar General Corporation and its subsidiaries (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and are presented in accordance with the requirements of Form 10-Q and Rule 10-01 of Regulation S-X. Such financial statements consequently do not include all of the disclosures normally required by U.S. GAAP for annual financial statements or those normally made in the Company’s Annual Report on Form 10-K, including the condensed consolidated balance sheet as of January 31, 2020 which was derived from the audited consolidated financial statements at that date. Accordingly, readers of this Quarterly Report on Form 10-Q should refer to the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2020 for additional information. ​ The Company’s fiscal year ends on the Friday closest to January 31. Unless the context requires otherwise, references to years contained herein pertain to the Company’s fiscal year. The Company’s 2020 fiscal year is scheduled to be a 52-week accounting period ending on January 29, 2021, and the 2019 fiscal year was a 52-week accounting period that ended on January 31, 2020. ​ The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the Company’s customary accounting practices. In management’s opinion, all adjustments (which are of a normal recurring nature) necessary for a fair presentation of the consolidated financial position as of October 30, 2020 and results of operations for the 13-week and 39-week accounting periods ended October 30, 2020 and November 1, 2019 have been made. ​ The preparation of financial statements and related disclosures in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Because the Company’s business is moderately seasonal, the results for interim periods are not necessarily indicative of the results to be expected for the entire year. In addition, the effect of the COVID-19 pandemic on consumer behavior in the quarterly and year to date periods ended May 1, 2020, July 31, 2020, and October 30, 2020 resulted in a departure from seasonal norms experienced in recent years and may continue to disrupt the historical quarterly cadence of the Company’s results of operations for an unknown period of time. ​ The Company uses the last-in, first-out (“LIFO”) method of valuing inventory. An actual valuation of inventory under the LIFO method is made at the end of each year based on the inventory levels and costs at that time. Accordingly, interim LIFO calculations are based on management’s estimates of expected year-end inventory levels, sales for the year and the expected rate of inflation or deflation for the year. The interim LIFO calculations are subject to adjustment in the final year-end LIFO inventory valuation. The Company recorded a LIFO provision of $1.6 million and $3.2 million in the respective 13-week periods, and $3.3 million and $9.7 million in the respective 39-week periods, ended October 30, 2020 and November 1, 2019. In addition, ongoing estimates of inventory shrinkage and initial markups and markdowns are included in the interim cost of goods sold calculation. ​ The Company adopted new accounting guidance related to leases as of February 2, 2019. The cumulative effect of applying the standard resulted in an adjustment to retained earnings of $28.8 million at February 2, 2019, primarily for the elimination of deferred gain on a 2013 sale-leaseback transaction. Because the standard was adopted under the modified retrospective approach, it did not impact the Company’s historical consolidated net income or cash flows. ​ In August 2018, the Financial Accounting Standards Board (“FASB”) issued guidance related to the accounting for implementation costs incurred in a cloud computing arrangement that is a service contract. These amendments align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software, as well as hosting arrangements that include an internal use software license. This guidance is effective for public business entities for fiscal years, and interim periods within those years, beginning after December 15, 2019, and early adoption is permitted. The Company adopted this guidance on a prospective basis and such adoption had an immaterial effect on the Company’s consolidated financial position and results of operations. ​ In August 2018, the FASB also issued guidance related to the disclosure requirements for fair value measurement. This guidance added, modified, and removed certain disclosure requirements related to assets and liabilities recorded at fair value. The majority of this guidance pertains to assets and liabilities classified in Level 3 of the fair value hierarchy, and the Company has no such assets or liabilities. This guidance is effective for public business entities for fiscal years, and interim periods within those years, beginning after December 15, 2019, and early adoption is permitted. The adoption of this guidance did not affect the Company’s consolidated results of operations, financial position or cash flows. ​ In January 2017, the FASB issued amendments to existing guidance related to the subsequent measurement of goodwill. Subsequent to adoption, the Company will perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. This guidance is effective for public business entities for fiscal years, and interim periods within those years, beginning after December 15, 2019, and early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The amendments are being applied on a prospective basis. The adoption of this guidance did not affect the Company’s consolidated results of operations, financial position or cash flows. ​ In June 2016, the FASB issued guidance related to measurement requirements for credit losses on financial instruments. These amendments require a financial asset or a group of financial assets measured at amortized cost basis to be presented at the net amount expected to be collected. The guidance requires measurement of expected credit losses based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts. This guidance is effective for public business entities for fiscal years, and interim periods within those years, beginning after December 15, 2019, and early adoption is permitted. The adoption of this guidance did not affect the Company’s consolidated results of operations, financial position or cash flows.

Earnings per share

Earnings per share	9 Months Ended
	Oct. 30, 2020
Earnings per share
Earnings per share	2. Earnings per share ​ Earnings per share is computed as follows (in thousands, except per share data): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 13 Weeks Ended October 30, 2020 ​ ​ 13 Weeks Ended November 1, 2019 ​ ​ ​ Weighted ​ ​ Weighted ​ ​ ​ Net ​ Average ​ Per Share ​ ​ Net ​ Average ​ Per Share ​ ​ ​ Income ​ Shares ​ Amount ​ ​ Income ​ Shares ​ Amount ​ Basic earnings per share ​ $ 574,260 247,131 ​ $ 2.32 ​ ​ $ 365,550 256,041 ​ $ 1.43 ​ Effect of dilutive share-based awards ​ ​ ​ 1,932 ​ ​ ​ ​ ​ ​ ​ 1,658 ​ ​ ​ ​ Diluted earnings per share ​ $ 574,260 249,063 ​ $ 2.31 ​ ​ $ 365,550 257,699 ​ $ 1.42 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 39 Weeks Ended October 30, 2020 ​ ​ 39 Weeks Ended November 1, 2019 ​ ​ ​ Weighted ​ ​ Weighted ​ ​ ​ Net ​ Average ​ Per Share ​ ​ Net ​ Average ​ Per Share ​ ​ ​ Income ​ Shares ​ Amount ​ ​ Income ​ Shares ​ Amount ​ Basic earnings per share ​ $ 2,012,307 249,731 ​ $ 8.06 ​ ​ $ 1,177,118 257,618 ​ $ 4.57 ​ Effect of dilutive share-based awards ​ ​ ​ 1,896 ​ ​ ​ ​ ​ ​ ​ 1,404 ​ ​ ​ ​ Diluted earnings per share ​ $ 2,012,307 251,627 ​ $ 8.00 ​ ​ $ 1,177,118 259,022 ​ $ 4.54 ​ ​ Basic earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is determined based on the dilutive effect of share-based awards using the treasury stock method. ​ Share-based awards that were outstanding at the end of the respective periods but were not included in the computation of diluted earnings per share because the effect of exercising such awards would be antidilutive, were less than 0.1 million and 0.1 million in the respective 13-week periods, and 0.2 million and 0.4 million in the respective 39-week periods, ended October 30, 2020 and November 1, 2019.

Income taxes

Income taxes	9 Months Ended
	Oct. 30, 2020
Income taxes
Income taxes	3. Income taxes ​ Under the accounting standards for income taxes, the asset and liability method is used for computing the future income tax consequences of events that have been recognized in the Company’s consolidated financial statements or income tax returns. ​ Income tax reserves are determined using the methodology established by accounting standards for income taxes which require companies to assess each income tax position taken using the following two-step approach. A determination is first made as to whether it is more likely than not that the position will be sustained, based upon the technical merits, upon examination by the taxing authorities. If the tax position is expected to meet the more likely than not criteria, the benefit recorded for the tax position equals the largest amount that is greater than 50% likely to be realized upon ultimate settlement of the respective tax position. ​ The Company’s 2016 and earlier tax years are not open for further examination by the Internal Revenue Service (“IRS”). The IRS, at its discretion, may choose to examine the Company’s 2017 through 2019 fiscal year income tax filings. The Company has various state income tax examinations that are currently in progress. Generally, with few exceptions, the Company’s 2017 and later tax years remain open for examination by the various state taxing authorities. ​ As of October 30, 2020, the total reserves for uncertain tax benefits, interest expense related to income taxes and potential income tax penalties were $5.6 million, $0.3 million and $0.0 million, respectively, for a total of $5.9 million. This total amount is reflected in noncurrent other liabilities in the condensed consolidated balance sheet. ​ The Company’s reserve for uncertain tax positions is not expected to be reduced in the coming twelve months as a result of expiring statutes of limitations. As of October 30, 2020, approximately $5.6 million of the reserve for uncertain tax positions would impact the Company’s effective income tax rate if the Company were to recognize the tax benefit for these positions. ​ The effective income tax rates for the 13-week and 39-week periods ended October 30, 2020 were 21.6% and 21.8% respectively, compared to rates of 21.7% and 21.9% for the 13-week and 39-week periods ended November 1, 2019. The income tax rates for the 13-week and 39-week periods in 2020 were lower than the comparable 13-week and 39-week periods in 2019 primarily due to increased income tax benefits associated with share-based compensation and a greater income tax rate benefit from state taxes, partially offset by a lower income tax rate benefit from federal income tax credits due to higher pre-tax earnings in the 2020 periods compared to the 2019 periods.

Leases

Leases	9 Months Ended
	Oct. 30, 2020
Leases
Leases	4. Leases ​ As of October 30, 2020, the Company’s primary leasing activities were real estate leases for most of its retail store locations and certain of its distribution facilities. Substantially all of the Company’s leases are classified as operating leases and the associated assets and liabilities are presented as separate captions in the condensed consolidated balance sheets. Finance lease assets are included in net property and equipment, and finance lease liabilities are included in long-term obligations, in the condensed consolidated balance sheet. At October 30, 2020, the weighted-average remaining lease term for the Company’s operating leases is 9.9 years, and the weighted average discount rate for such leases is 4.0%. Operating lease costs are reflected as selling, general and administrative costs in the condensed consolidated statements of income. For the 39-week periods ended October 30, 2020 and November 1, 2019, such costs were $1.03 billion and $0.94 billion, respectively. Cash paid for amounts included in the measurement of operating lease liabilities of $1.03 billion and $0.95 billion, respectively, were reflected in cash flows from operating activities in the condensed consolidated statements of cash flows for the 39-week periods ended October 30, 2020 and November 1, 2019.

Current and long-term obligatio

Current and long-term obligations	9 Months Ended
	Oct. 30, 2020
Current and long-term obligations
Current and long-term obligations	5. Current and long-term obligations ​ Current and long-term obligations consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 30, January 31, (In thousands) ​ 2020 ​ 2020 Revolving Facility ​ $ — ​ $ — ​ 3.250% Senior Notes due April 15, 2023 (net of discount of $647 and $837) ​ 899,353 ​ 899,163 ​ 4.150% Senior Notes due November 1, 2025 (net of discount of $431 and $489) ​ ​ 499,569 ​ ​ 499,511 ​ 3.875% Senior Notes due April 15, 2027 (net of discount of $305 and $336) ​ ​ 599,695 ​ ​ 599,664 ​ 4.125% Senior Notes due May 1, 2028 (net of discount of $394 and $428) ​ ​ 499,606 ​ ​ 499,572 ​ 3.500% Senior Notes due April 3, 2030 (net of discount of $637) ​ ​ 999,363 ​ ​ — ​ 4.125% Senior Notes due April 3, 2050 (net of discount of $4,966) ​ ​ 495,034 ​ ​ — ​ Unsecured commercial paper notes ​ ​ — ​ ​ 425,200 ​ Other ​ ​ 165,996 ​ ​ 4,895 ​ Debt issuance costs, net ​ (27,043) ​ (16,012) ​ ​ ​ $ 4,131,573 ​ $ 2,911,993 ​ ​ On September 10, 2019, the Company entered into an amended and restated credit agreement, providing for a $1.25 billion unsecured five-year revolving credit facility (the “Revolving Facility”) of which up to $175.0 million is available for letters of credit. ​ Borrowings under the Revolving Facility bear interest at a rate equal to an applicable interest rate margin plus, at the Company’s option, either (a) LIBOR or (b) a base rate (which is usually equal to the prime rate). The applicable interest rate margin for borrowings as of October 30, 2020 was 1.015% for LIBOR borrowings and 0.015 % for base-rate borrowings. The Company is also required to pay a facility fee, payable on any used and unused commitment amounts of the Revolving Facility, and customary fees on letters of credit issued under the Revolving Facility. As of October 30, 2020, the facility fee rate was 0.11%. The applicable interest rate margins for borrowings, the facility fees and the letter of credit fees under the Revolving Facility are subject to adjustment from time to time based on the Company’s long-term senior unsecured debt ratings. ​ The Revolving Facility contains a number of customary affirmative and negative covenants that, among other things, restrict, subject to certain exceptions, the Company’s ability to: incur additional liens; sell all or substantially all of the Company’s assets; consummate certain fundamental changes or change in the Company’s lines of business; and incur additional subsidiary indebtedness. The Revolving Facility also contains financial covenants which require the maintenance of a minimum fixed charge coverage ratio and a maximum leverage ratio. As of October 30, 2020, the Company was in compliance with all such covenants. The Revolving Facility also contains customary events of default. ​ As of October 30, 2020, the Company had no outstanding borrowings, outstanding letters of credit of $4.8 million, and borrowing availability of approximately $1.25 billion under the Revolving Facility that, due to its intention to maintain borrowing availability related to the commercial paper program described below, could contribute incremental liquidity of $1.06 billion. In addition, as of October 30, 2020, the Company had outstanding letters of credit of $75.5 million which were issued pursuant to separate agreements. ​ As of October 30, 2020, the Company had a commercial paper program under which the Company may issue unsecured commercial paper notes (the “CP Notes”) from time to time in an aggregate amount not to exceed $1.0 billion outstanding at any time. The CP Notes may have maturities of up to 364 days from the date of issue and rank equal in right of payment with all of the Company’s other unsecured and unsubordinated indebtedness. The Company intends to maintain available commitments under the Revolving Facility in an amount at least equal to the amount of CP Notes outstanding at any time. As of October 30, 2020, the Company’s condensed consolidated balance sheet reflected no outstanding unsecured CP Notes. CP Notes totaling $181.0 million were held by a wholly-owned subsidiary of the Company and are therefore not reflected on the condensed consolidated balance sheet. ​ On April 3, 2020, the Company issued $1.0 billion aggregate principal amount of 3.5% senior notes due 2030 (the “2030 Senior Notes”), net of discount of $0.7 million, and $500.0 million aggregate principal amount of 4.125% senior notes due 2050 (the “2050 Senior Notes”), net of discount of $5.0 million. The 2030 Senior Notes are scheduled to mature on April 3, 2030 and the 2050 Senior Notes are scheduled to mature on April 3, 2050. Interest on the 2030 Senior Notes and the 2050 Senior Notes is payable in cash on April 3 and October 3 of each year, and commenced on October 3, 2020. The Company incurred $13.6 million of debt issuance costs associated with the issuance of the 2030 Senior Notes and the 2050 Senior Notes.

Assets and liabilities measured

Assets and liabilities measured at fair value	9 Months Ended
	Oct. 30, 2020
Assets and liabilities measured at fair value
Assets and liabilities measured at fair value	6. Assets and liabilities measured at fair value ​ Fair value is a market-based measurement, not an entity-specific measurement. Therefore, a fair value measurement should be determined based on the assumptions that market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair value measurements, fair value accounting standards establish a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entity’s own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy). The Company does not have any fair value measurements categorized within Level 3 as of October 30, 2020. ​ The following table presents the Company’s liabilities required to be measured at fair value as of October 30, 2020, aggregated by the level in the fair value hierarchy within which those measurements are classified. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ ​ for Identical ​ Other ​ Significant ​ Total Fair ​ ​ ​ Assets and ​ Observable ​ Unobservable ​ Value at ​ ​ ​ Liabilities ​ Inputs ​ Inputs ​ October 30, ​ (In thousands) ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ 2020 ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Long-term obligations (a) ​ $ 4,525,226 ​ $ 165,996 ​ $ — ​ $ 4,691,222 ​ Deferred compensation (b) ​ 31,248 ​ — ​ — ​ 31,248 ​ (a) Included in the condensed consolidated balance sheet at book value as Long-term obligations of $4,131,573. (b) Reflected at fair value in the condensed consolidated balance sheet as Accrued expenses and other current liabilities of $1,776 and noncurrent Other liabilities of $29,472.

Commitments and contingencies

Commitments and contingencies	9 Months Ended
	Oct. 30, 2020
Commitments and contingencies
Commitments and contingencies	7. Commitments and contingencies Legal proceedings From time to time, the Company is a party to various legal matters in the ordinary course of its business, including actions by employees, consumers, suppliers, government agencies, or others. The Company has recorded accruals with respect to these matters, where appropriate, which are reflected in the Company’s consolidated financial statements. For some matters, a liability is not probable or the amount cannot be reasonably estimated and therefore an accrual has not been made. In 2019, the Company recorded an accrual of $31.0 million for losses the Company believes are both probable and reasonably estimable relating to certified class actions and associated matters including the matters discussed below under Consumer/Product Litigation. Except as described below and based on information currently available, the Company believes that its pending legal matters, both individually and in the aggregate, will be resolved without a material adverse effect on the Company’s consolidated financial statements as a whole. However, litigation and other legal matters involve an element of uncertainty. Adverse decisions and settlements, including any required changes to the Company’s business, or other developments in such matters could affect our consolidated operating results in future periods or result in liability or other amounts material to the Company’s annual consolidated financial statements. Consumer/Product Litigation In December 2015 the Company was first notified of several lawsuits in which plaintiffs allege violation of state law, including state consumer protection laws, relating to the labeling, marketing and sale of certain Dollar General private-label motor oil. Each of these lawsuits, as well as additional, similar lawsuits filed after December 2015, was filed in, or removed to, various federal district courts of the United States (collectively “Motor Oil Lawsuits”). On June 2, 2016, the Motor Oil Lawsuits were centralized in a matter styled In re Dollar General Corp. Motor Oil Litigation , Case MDL No. 2709, before the United States District Court for the Western District of Missouri (“Motor Oil MDL”). In their consolidated amended complaint, the plaintiffs in the Motor Oil MDL sought to certify two nationwide classes and multiple statewide sub-classes and for each putative class member some or all of the following relief: compensatory damages, injunctive relief, statutory damages, punitive damages and attorneys’ fees. The Company’s motion to dismiss the allegations raised in the consolidated amended complaint was granted in part and denied in part on August 3, 2017. To the extent additional consumer lawsuits alleging violation of laws relating to the labeling, marketing and sale of Dollar General private-label motor oil have been or will be filed, the Company expects that such lawsuits will be transferred to the Motor Oil MDL. In May 2017, the Company received a Notice of Proposed Action from the Office of the New Mexico Attorney General (the “New Mexico AG”) which alleges that the Company’s labeling, marketing and sale of certain Dollar General private-label motor oil violated New Mexico law (the “New Mexico Motor Oil Matter”). The State is represented in connection with this matter by counsel for plaintiffs in the Motor Oil MDL. On June 20, 2017, the New Mexico AG filed an action in the First Judicial District Court, County of Santa Fe, New Mexico pertaining to the New Mexico Motor Oil Matter. ( Hector H. Balderas v. Dolgencorp, LLC , Case No. D-101-cv-2017-01562). On May 4, 2020, the Company’s motion to dismiss the action was denied. Trial is scheduled for March 8, 2021. On September 1, 2017, the Mississippi Attorney General (the “Mississippi AG”), who also is represented by the counsel for plaintiffs in the Motor Oil MDL, filed an action in the Chancery Court of the First Judicial District of Hinds County, Mississippi alleging that the Company’s labeling, marketing and sale of certain Dollar General private-label motor oil violated Mississippi law. ( Jim Hood v. Dollar General Corporation Jim Hood v. Dollar General Corporation On January 30, 2018, the Company received a Civil Investigative Demand (“CID”) from the Office of the Louisiana Attorney General (the “Louisiana AG”) requesting information concerning the Company’s labeling, marketing and sale of certain Dollar General private-label motor oil (the “Louisiana Motor Oil Matter”). In response to the CID, the Company filed a petition for a protective order on February 20, 2018 in the 19 th In re Dollar General Corp. and Dolgencorp, LLC On August 20, 2018, plaintiffs in the MDL moved to certify two nationwide classes relating to their claims of alleged unjust enrichment and breach of implied warranties. In addition, plaintiffs moved to certify a multi-state class relating to their claims of breach of implied warranties and multiple statewide classes relating to alleged unfair trade practices/consumer fraud, unjust enrichment and breach of implied warranty claims. The Company opposed the plaintiffs’ certification motion. On March 21, 2019, the court granted the plaintiffs’ certification motion as to 16 statewide classes regarding claims of unjust enrichment and 16 statewide classes regarding state consumer protection laws. Subsequently, the court certified an additional class, bringing the total to 17 statewide classes. The court denied plaintiffs’ certification motion in all other respects. On June 25, 2019, the United States Court of Appeals for the Eighth Circuit granted the Company’s Petition to Appeal the lower court’s certification rulings. The Company’s appeal remains pending. The parties have reached an agreement in principle to resolve the Motor Oil MDL for an amount that is immaterial to the Company’s consolidated financial statements as a whole. The parties’ agreement must be formalized and submitted to the court for consideration and approval. The Company is vigorously defending these matters and believes that the labeling, marketing and sale of its private-label motor oil comply with applicable federal and state requirements and are not misleading. The Company further believes that these matters are not appropriate for class or similar treatment. At this time, however, except as to the Louisiana Motor Oil Matter, it is not possible to predict whether these matters ultimately will be permitted to proceed as a class or in a similar fashion or the size of any putative class or classes. Likewise, except as to the Louisiana Motor Oil Matter, no assurances can be given that the Company will be successful in its defense of these matters on the merits or otherwise. Based on its belief that a loss in these matters is both probable and reasonably estimable, as noted above, during 2019, the Company recorded an accrual for an amount that is immaterial to the Company’s consolidated financial statements as a whole.

Segment reporting

Segment reporting	9 Months Ended
	Oct. 30, 2020
Segment reporting
Segment reporting	8. Segment reporting ​ The Company manages its business on the basis of one reportable operating segment. As of October 30, 2020, all of the Company’s operations were located within the United States with the exception of certain product sourcing operations, which collectively are not material with regard to assets, results of operations or otherwise to the condensed consolidated financial statements. The following net sales data is presented in accordance with accounting standards related to disclosures about segments of an enterprise. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 13 Weeks Ended ​ 39 Weeks Ended ​ ​ ​ October 30, ​ November 1, ​ October 30, ​ November 1, ​ (in thousands) 2020 2019 2020 2019 Classes of similar products: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumables ​ $ 6,385,315 ​ $ 5,523,157 ​ $ 19,585,114 ​ $ 16,164,317 ​ Seasonal ​ 906,623 ​ 750,843 ​ 2,986,146 ​ 2,341,914 ​ Home products ​ 517,147 ​ 400,934 ​ 1,601,450 ​ 1,151,715 ​ Apparel ​ 390,540 ​ 316,459 ​ 1,159,605 ​ 938,385 ​ Net sales ​ $ 8,199,625 ​ $ 6,991,393 ​ $ 25,332,315 ​ $ 20,596,331 ​ ​

Common stock transactions

Common stock transactions	9 Months Ended
	Oct. 30, 2020
Common stock transactions
Common stock transactions	9. Common stock transactions ​ On August 29, 2012, the Company’s Board of Directors authorized a common stock repurchase program, which the Board has since increased on several occasions. Most recently, on August 26, 2020, the Company’s Board of Directors authorized a $2.0 billion increase to the existing common stock repurchase program, bringing the cumulative total to $10.0 billion authorized under the program since its inception. The repurchase authorization has no expiration date and allows repurchases from time to time in open market transactions, including pursuant to trading plans adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, or in privately negotiated transactions. The timing, manner and number of shares repurchased will depend on a variety of factors, including price, market conditions, compliance with the covenants and restrictions under the Company’s debt agreements and other factors. Repurchases under the program may be funded from available cash or borrowings, including under the Company’s Revolving Facility and issuance of CP Notes discussed in further detail in Note 5. ​ Pursuant to its common stock repurchase program, during the 39-week periods ended October 30, 2020 and November 1, 2019, the Company repurchased in the open market approximately 8.0 million shares of its common stock at a total cost of $1.57 billion and approximately 5.6 million shares of its common stock at a total cost of $0.79 billion, respectively. ​ The Company paid a cash dividend of $0.36 per share during each of the first three quarters of 2020. On December 2, 2020, the Company’s Board of Directors declared a quarterly cash dividend of $0.36 per share, which is payable on or before January 19, 2021 to shareholders of record on January 5, 2021. The amount and declaration of future cash dividends is subject to the sole discretion of the Company’s Board of Directors and will depend upon, among other things, the Company’s results of operations, cash requirements, financial condition, contractual restrictions and other factors that the Board may deem relevant in its sole discretion.

Earnings per share (Tables)

Earnings per share (Tables)	9 Months Ended
	Oct. 30, 2020
Earnings per share
Schedule of computation of earnings per share	​ Earnings per share is computed as follows (in thousands, except per share data): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 13 Weeks Ended October 30, 2020 ​ ​ 13 Weeks Ended November 1, 2019 ​ ​ ​ Weighted ​ ​ Weighted ​ ​ ​ Net ​ Average ​ Per Share ​ ​ Net ​ Average ​ Per Share ​ ​ ​ Income ​ Shares ​ Amount ​ ​ Income ​ Shares ​ Amount ​ Basic earnings per share ​ $ 574,260 247,131 ​ $ 2.32 ​ ​ $ 365,550 256,041 ​ $ 1.43 ​ Effect of dilutive share-based awards ​ ​ ​ 1,932 ​ ​ ​ ​ ​ ​ ​ 1,658 ​ ​ ​ ​ Diluted earnings per share ​ $ 574,260 249,063 ​ $ 2.31 ​ ​ $ 365,550 257,699 ​ $ 1.42 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 39 Weeks Ended October 30, 2020 ​ ​ 39 Weeks Ended November 1, 2019 ​ ​ ​ Weighted ​ ​ Weighted ​ ​ ​ Net ​ Average ​ Per Share ​ ​ Net ​ Average ​ Per Share ​ ​ ​ Income ​ Shares ​ Amount ​ ​ Income ​ Shares ​ Amount ​ Basic earnings per share ​ $ 2,012,307 249,731 ​ $ 8.06 ​ ​ $ 1,177,118 257,618 ​ $ 4.57 ​ Effect of dilutive share-based awards ​ ​ ​ 1,896 ​ ​ ​ ​ ​ ​ ​ 1,404 ​ ​ ​ ​ Diluted earnings per share ​ $ 2,012,307 251,627 ​ $ 8.00 ​ ​ $ 1,177,118 259,022 ​ $ 4.54 ​ ​

Current and long-term obligat_2

Current and long-term obligations (Tables)	9 Months Ended
	Oct. 30, 2020
Current and long-term obligations
Schedule of current and long-term debt obligations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 30, January 31, (In thousands) ​ 2020 ​ 2020 Revolving Facility ​ $ — ​ $ — ​ 3.250% Senior Notes due April 15, 2023 (net of discount of $647 and $837) ​ 899,353 ​ 899,163 ​ 4.150% Senior Notes due November 1, 2025 (net of discount of $431 and $489) ​ ​ 499,569 ​ ​ 499,511 ​ 3.875% Senior Notes due April 15, 2027 (net of discount of $305 and $336) ​ ​ 599,695 ​ ​ 599,664 ​ 4.125% Senior Notes due May 1, 2028 (net of discount of $394 and $428) ​ ​ 499,606 ​ ​ 499,572 ​ 3.500% Senior Notes due April 3, 2030 (net of discount of $637) ​ ​ 999,363 ​ ​ — ​ 4.125% Senior Notes due April 3, 2050 (net of discount of $4,966) ​ ​ 495,034 ​ ​ — ​ Unsecured commercial paper notes ​ ​ — ​ ​ 425,200 ​ Other ​ ​ 165,996 ​ ​ 4,895 ​ Debt issuance costs, net ​ (27,043) ​ (16,012) ​ ​ ​ $ 4,131,573 ​ $ 2,911,993 ​

Assets and liabilities measur_2

Assets and liabilities measured at fair value (Tables)	9 Months Ended
	Oct. 30, 2020
Assets and liabilities measured at fair value
Schedule of assets and liabilities measured at fair value	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ ​ for Identical ​ Other ​ Significant ​ Total Fair ​ ​ ​ Assets and ​ Observable ​ Unobservable ​ Value at ​ ​ ​ Liabilities ​ Inputs ​ Inputs ​ October 30, ​ (In thousands) ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ 2020 ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Long-term obligations (a) ​ $ 4,525,226 ​ $ 165,996 ​ $ — ​ $ 4,691,222 ​ Deferred compensation (b) ​ 31,248 ​ — ​ — ​ 31,248 ​ (a) Included in the condensed consolidated balance sheet at book value as Long-term obligations of $4,131,573. (b) Reflected at fair value in the condensed consolidated balance sheet as Accrued expenses and other current liabilities of $1,776 and noncurrent Other liabilities of $29,472.

Segment reporting (Tables)

Segment reporting (Tables)	9 Months Ended
	Oct. 30, 2020
Segment reporting
Schedule of net sales grouped by classes of similar products	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 13 Weeks Ended ​ 39 Weeks Ended ​ ​ ​ October 30, ​ November 1, ​ October 30, ​ November 1, ​ (in thousands) 2020 2019 2020 2019 Classes of similar products: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumables ​ $ 6,385,315 ​ $ 5,523,157 ​ $ 19,585,114 ​ $ 16,164,317 ​ Seasonal ​ 906,623 ​ 750,843 ​ 2,986,146 ​ 2,341,914 ​ Home products ​ 517,147 ​ 400,934 ​ 1,601,450 ​ 1,151,715 ​ Apparel ​ 390,540 ​ 316,459 ​ 1,159,605 ​ 938,385 ​ Net sales ​ $ 8,199,625 ​ $ 6,991,393 ​ $ 25,332,315 ​ $ 20,596,331 ​

Basis of presentation (Details)

Basis of presentation (Details) $ in Thousands	Feb. 02, 2019USD ($)	Oct. 30, 2020USD ($)	Nov. 01, 2019USD ($)	Oct. 30, 2020USD ($)	Nov. 01, 2019USD ($)	Jan. 29, 2021period	Jan. 31, 2020period
Fiscal year, number of weeks | period						52	52
Merchandise inventories
LIFO provision		$ 1,600	$ 3,200	$ 3,300	$ 9,700
New accounting guidance
Adjustment to retained earnings					$ 28,830
Accounting Standards Update 2016-02
New accounting guidance
Adjustment to retained earnings	$ 28,800

Earnings per share (Details)

Earnings per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 30, 2020	Nov. 01, 2019	Oct. 30, 2020	Nov. 01, 2019
Net Income
Basic Earnings	$ 574,260	$ 365,550	$ 2,012,307	$ 1,177,118
Diluted Earnings	$ 574,260	$ 365,550	$ 2,012,307	$ 1,177,118
Shares
Shares outstanding, basic	247,131	256,041	249,731	257,618
Effect of dilutive share-based awards	1,932	1,658	1,896	1,404
Shares outstanding, diluted	249,063	257,699	251,627	259,022
Per Share Amount
Basic earnings per share (in dollars per share)	$ 2.32	$ 1.43	$ 8.06	$ 4.57
Diluted earnings per share (in dollars per share)	$ 2.31	$ 1.42	$ 8	$ 4.54
Share-based awards outstanding excluded from computation of diluted earnings per share	100	100	200	400

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 30, 2020	Nov. 01, 2019	Oct. 30, 2020	Nov. 01, 2019
Income taxes
Reserves for uncertain tax benefits	$ 5.6		$ 5.6
Interest accrued related to uncertain tax benefits	0.3		0.3
Potential penalties accrued related to uncertain tax benefits	0		0
Reserves for uncertain tax benefits included in noncurrent Other liabilities	5.9		5.9
Reserve for uncertain tax positions that would impact effective tax rate if recognized	$ 5.6		$ 5.6
Effective income tax rates (as a percent)	21.60%	21.70%	21.80%	21.90%

Leases (Details)

Leases (Details) - USD ($) $ in Millions	9 Months Ended
	Oct. 30, 2020	Nov. 01, 2019
Leases
Weighted-average remaining lease term	9 years 10 months 24 days
Weighed average discount rate	4.00%
Cash paid for operating leases	$ 1,030	$ 950
Operating lease cost	$ 1,030	$ 940

Current and long-term obligat_3

Current and long-term obligations (Details) - USD ($) $ in Thousands	Sep. 10, 2019	Oct. 30, 2020	Apr. 03, 2020	Jan. 31, 2020
Current and long-term obligations
Debt issuance costs, net		$ (27,043)		$ (16,012)
Current and long-term obligations		4,131,573		2,911,993
Current and long-term obligations		4,131,573		2,911,993
Senior unsecured credit facility, Revolving Facility
Current and long-term obligations
Current and long-term obligations		0
Current and long-term obligations		0
Maximum financing under credit agreements	$ 1,250,000	$ 1,250,000
Credit facility term	5 years	5 years
Facility fee rate		0.11%
Borrowing availability under credit facility		$ 1,250,000
Borrowing availability except for amount reserved for commercial paper program		$ 1,060,000
Senior unsecured credit facility, Revolving Facility | LIBOR loans
Current and long-term obligations
Variable rate basis		LIBOR
Spread on variable rate (as a percent)		1.015%
Senior unsecured credit facility, Revolving Facility | Base-rate loans
Current and long-term obligations
Variable rate basis		base rate
Spread on variable rate (as a percent)		0.015%
Senior unsecured credit facility, Revolving Facility | Letters of credit
Current and long-term obligations
Maximum financing under credit agreements	$ 175,000	$ 175,000
Letters of credit outstanding		4,800
3.25% Senior Notes due April 15, 2023
Current and long-term obligations
Current and long-term obligations		899,353		899,163
Current and long-term obligations		899,353		899,163
Discount on debt issuance		$ 647		$ 837
Stated interest rate (as a percent)		3.25%		3.25%
4.150% Senior Notes due Nov 1, 2025
Current and long-term obligations
Current and long-term obligations		$ 499,569		$ 499,511
Current and long-term obligations		499,569		499,511
Discount on debt issuance		$ 431		$ 489
Stated interest rate (as a percent)		4.15%		4.15%
3.875% Senior Notes due April 15. 2027
Current and long-term obligations
Current and long-term obligations		$ 599,695		$ 599,664
Current and long-term obligations		599,695		599,664
Discount on debt issuance		$ 305		$ 336
Stated interest rate (as a percent)		3.875%		3.875%
4.125% Senior Notes due May 1, 2028
Current and long-term obligations
Current and long-term obligations		$ 499,606		$ 499,572
Current and long-term obligations		499,606		499,572
Discount on debt issuance		$ 394		$ 428
Stated interest rate (as a percent)		4.125%		4.125%
Senior Notes Due 2030 And 2050 [Member]
Current and long-term obligations
Debt issue costs			$ 13,600
3.500% Senior Notes due April 3, 2030
Current and long-term obligations
Current and long-term obligations		$ 999,363
Current and long-term obligations		999,363
Discount on debt issuance		$ 637	700
Amount borrowed			$ 1,000,000
Stated interest rate (as a percent)		3.50%	3.50%
4.125% Senior Notes due April 3, 2050
Current and long-term obligations
Current and long-term obligations		$ 495,034
Current and long-term obligations		495,034
Discount on debt issuance		$ 4,966	$ 5,000
Amount borrowed			$ 500,000
Stated interest rate (as a percent)		4.125%	4.125%
Unsecured commercial paper notes
Current and long-term obligations
Current and long-term obligations				$ 425,200
Current and long-term obligations				425,200
Maximum maturity		364 days
Maximum aggregate borrowing amount		$ 1,000,000
Unsecured commercial paper notes | Wholly-owned subsidiary
Current and long-term obligations
Current and long-term obligations		181,000
Current and long-term obligations		181,000
Other
Current and long-term obligations
Current and long-term obligations		165,996		4,895
Current and long-term obligations		165,996		$ 4,895
Letter Of Credit Outside Of Revolving Facility
Current and long-term obligations
Letters of credit outstanding		$ 75,500

Assets and liabilities measur_3

Assets and liabilities measured at fair value (Details) - USD ($) $ in Thousands	Oct. 30, 2020	Jan. 31, 2020
Liabilities:
Current and long-term obligations	$ 4,131,573	$ 2,911,993
Reported amount | Long-term obligations
Liabilities:
Current and long-term obligations	4,131,573
Reported amount | Accrued expenses and other current liabilities
Liabilities:
Deferred compensation	1,776
Reported amount | Noncurrent Other liabilities
Liabilities:
Deferred compensation	29,472
Fair value measurements on recurring basis | Balance at the end of the period
Liabilities:
Long-term obligations	4,691,222
Deferred compensation	31,248
Fair value measurements on recurring basis | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)
Liabilities:
Long-term obligations	4,525,226
Deferred compensation	31,248
Fair value measurements on recurring basis | Significant Other Observable Inputs (Level 2)
Liabilities:
Long-term obligations	$ 165,996

Commitments and contingencies -

Commitments and contingencies - Legal proceedings (Details) - Pending litigation $ in Millions	Mar. 21, 2019item	Oct. 30, 2020item	Jan. 31, 2020USD ($)	Aug. 20, 2018item	Jun. 02, 2016item
Legal proceedings
Expected possible loss | $			$ 31
Motor Oil MDL
Legal proceedings
Number of nationwide classes				2	2
Number of statewide classes		17
Number of statewide classes regarding unjust enrichment	16
Number of statewide classes regarding consumer protection laws	16

Segment reporting (Details)

Segment reporting (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 30, 2020USD ($)segment	Nov. 01, 2019USD ($)segment	Oct. 30, 2020USD ($)segment	Nov. 01, 2019USD ($)segment
Net sales data for classes of similar products
Net sales	$ 8,199,625	$ 6,991,393	$ 25,332,315	$ 20,596,331
Number of reportable segments
Number of reportable operating segments | segment	1	1	1	1
Consumables
Net sales data for classes of similar products
Net sales	$ 6,385,315	$ 5,523,157	$ 19,585,114	$ 16,164,317
Seasonal
Net sales data for classes of similar products
Net sales	906,623	750,843	2,986,146	2,341,914
Home products
Net sales data for classes of similar products
Net sales	517,147	400,934	1,601,450	1,151,715
Apparel
Net sales data for classes of similar products
Net sales	$ 390,540	$ 316,459	$ 1,159,605	$ 938,385

Common stock transactions (Deta

Common stock transactions (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Dec. 02, 2020	Aug. 26, 2020	Oct. 30, 2020	Jul. 31, 2020	May 01, 2020	Nov. 01, 2019	Oct. 30, 2020	Nov. 01, 2019
Common stock transactions
Aggregate purchase price			$ 901,930			$ 400,327	$ 1,566,546	$ 785,301
Cash dividend paid (in dollars per share)			$ 0.36	$ 0.36	$ 0.36	$ 0.32	$ 1.08	$ 0.96
Subsequent event
Common stock transactions
Cash dividend declared (in dollars per share)	$ 0.36
Common Stock
Common stock transactions
Shares acquired under share repurchase program			4,408			2,527	8,043	5,566
Aggregate purchase price			$ 3,858			$ 2,211	$ 7,038	$ 4,870
Common Stock | Pursuant to Authorized Repurchase Program
Common stock transactions
Common stock repurchase program, increase in the authorized amount		$ 2,000,000
Common stock repurchase authorization		$ 10,000,000
Shares acquired under share repurchase program							8,000	5,600
Aggregate purchase price							$ 1,570,000	$ 790,000