Annual report pursuant to Section 13 and 15(d)

LEASES (Tables)

v3.20.1
LEASES (Tables)
12 Months Ended
Feb. 01, 2020
LEASES  
Components of Lease Costs

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

Fiscal Year

2019

Operating lease cost (1)

$

422,857

Variable lease cost (2)

 

149,643

Total lease cost

$

572,500

(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):

Fiscal Year

2019

Operating cash outflows included in the measurement of lease liabilities

$

430,871

Operating lease assets obtained in exchange for new operating lease liabilities

$

296,289

Weighted-average remaining lease term

6.0 years

Weighted-average discount rate

5.9%

Maturities of Lease Liabilities

Maturities of our lease liabilities are as follows as of February 1, 2020 (in thousands):

Fiscal Year

2020

$

395,672

2021

 

388,112

2022

 

326,224

2023

 

263,431

2024

202,604

Thereafter

 

427,752

Total lease payments

$

2,003,795

Less: Interest

(339,178)

Present value of lease liabilities

$

1,664,617

Schedule of Future Minimum Annual Rental Commitments

Future minimum annual rental commitments for all non-cancelable operating leases as of February 2, 2019 are as follows (in thousands):

Fiscal Year

2019

$

428,698

2020

 

386,466

2021

 

331,032

2022

 

268,667

2023

 

206,424

Thereafter

 

508,178

Total minimum rental commitments

$

2,129,465