Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.19.1
LEASES (Tables)
3 Months Ended
May 04, 2019
LEASES  
Components of Lease Costs

The components of lease costs are as follows (in thousands):

 

 

 

 

 

 

 

13 Weeks Ended

 

 

May 4,

 

 

2019

Operating lease cost (1)

  

$

105,465

Variable lease cost  (2)

 

 

36,440

Total lease cost

 

$

141,905


(1)

Includes an immaterial amount related to short-term non-real estate leases.

(2)

Includes taxes, insurance and common areas maintenance costs for our leased facilities which are paid based on actual cost incurred by the lessor. Also includes contingent rent which is immaterial in the period presented.

Operating leases, supplemental cash flow information

Additional information related to our operating leases is as follows (in thousands, except weighted-average data):

 

 

 

 

 

 

 

13 Weeks Ended

 

 

May 4,

 

 

2019

Operating cash outflows included in the measurement of lease liabilities

 

$

106,998

Operating lease assets obtained in exchange for new operating lease liabilities

 

$

52,709

Weighted-average remaining lease term

 

 

6.2 years

Weighted-average discount rate

 

 

5.6 %

 

Maturities of lease liabilities

Maturities of our lease liabilities are as follows as of May 4, 2019 (in thousands):

 

 

 

 

 

Fiscal Year

 

 

2019

 

$

284,284

2020

 

 

392,335

2021

 

 

337,625

2022

 

 

276,194

2023

 

 

213,765

Thereafter

 

 

509,549

Total lease payments

 

$

2,013,752

Less: Interest

 

 

(333,088)

Present value of lease liabilities

 

$

1,680,664