Leases

3 Months Ended

May 04, 2019

Leases [Abstract]

Leases

4. Leases

At May 4, 2019, we had operating leases for our retail stores, certain distribution and fulfillment facilities, vehicles and equipment. Our remaining lease terms vary from one month to ten years, with varying renewal and termination options. At May 4, 2019, the weighted-average of the remaining lease term was 6.3 years and the weighted-average discount rate was 3.4%.

The following table presents components of lease expense (in thousands):

	Three Months Ended
	May 4, 2019
Operating lease expense	$	17,082
Variable lease expense		894
Total lease expense	$	17,976

Supplemental cash flow information related to leases is as follows (in thousands):

	May 4, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(13,770	)
Right-of-use assets obtained in exchange for new operating lease liabilities		20,296

At May 4, 2019, the maturities of our operating leases liabilities are as follows (in thousands):

Fiscal 2019	$	48,814
Fiscal 2020		68,812
Fiscal 2021		63,411
Fiscal 2022		57,342
Fiscal 2023		47,972
Thereafter		100,790
Total minimum lease payments		387,141
Less: interest		(39,297	)
Present value of lease obligations		347,844
Less: current portion		(54,469	)
Long-term lease obligations	$	293,375

At May 4, 2019, we have excluded from the table above operating leases that have not yet commenced of $5.6 million. These operating leases are expected to commence in fiscal 2019.