Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.20.2
LEASES (Tables)
9 Months Ended
Oct. 31, 2020
LEASES  
Components of Lease Costs

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

13 Weeks Ended

39 Weeks Ended

October 31,

November 2,

October 31,

November 2,

2020

2019

2020

2019

Operating lease cost (1)

  

$

109,196

$

106,294

$

322,823

$

316,358

Variable lease cost (2)

 

40,420

 

38,319

 

117,991

 

110,836

Total lease cost

$

149,616

$

144,613

$

440,814

$

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

October 31,

November 2,

2020

2019

Operating cash outflows included in the measurement of lease liabilities

$

288,742

$

322,701

Operating lease assets obtained in exchange for new operating lease liabilities

$

198,840

$

222,887

Weighted-average remaining lease term

5.8 years

6.0 years

Weighted-average discount rate

6.7%

5.6%

Maturities of Lease Liabilities

Maturities of our lease liabilities are as follows as of October 31, 2020 (in thousands):

Fiscal Year

2020

$

94,172

2021

 

428,442

2022

 

376,416

2023

 

314,319

2024

 

248,873

Thereafter

 

533,763

Total lease payments

$

1,995,985

Less: Interest

(359,130)

Present value of lease liabilities

$

1,636,855