Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.19.3
LEASES (Tables)
9 Months Ended
Nov. 02, 2019
LEASES  
Components of Lease Costs

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

13 Weeks Ended

39 Weeks Ended

November 2,

November 2,

2019

2019

Operating lease cost (1)

  

$

106,294

$

316,358

Variable lease cost (2)

 

38,319

 

110,836

Total lease cost

$

144,613

$

427,194

(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 periods presented.
Operating leases, supplemental cash flow information

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

39 Weeks Ended

November 2,

2019

Operating cash outflows included in the measurement of lease liabilities

$

322,701

Operating lease assets obtained in exchange for new operating lease liabilities

$

222,887

Weighted-average remaining lease term

6.0 years

Weighted-average discount rate

5.6%

Maturities of lease liabilities

Maturities of our lease liabilities are as follows as of November 2, 2019 (in thousands):

Fiscal Year

2019

$

71,036

2020

 

421,971

2021

 

373,165

2022

 

311,434

2023

 

248,741

Thereafter

 

573,554

Total lease payments

$

1,999,901

Less: Interest

(322,323)

Present value of lease liabilities

$

1,677,578