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Leases (Tables)
12 Months Ended
Jan. 29, 2022
Leases [Abstract]  
Finance and operating lease liabilities and ROU assets
The following table summarizes the Company’s finance and operating lease liabilities and ROU assets as of January 29, 2022 and January 30, 2021 (in thousands):
January 29, 2022January 30, 2021
Finance Leases:
ROU assets recorded$19,283 $19,283 
Accumulated amortization11,706 10,578 
Lease liability16,082 15,230 
Operating Leases:
ROU assets recorded2,599,460 2,363,437 
Accumulated amortization467,473 304,674 
Lease cost and other information
The following table is a summary of the components of net lease costs for the years ended January 29, 2022, January 30, 2021 and February 1, 2020 (in thousands):
January 29, 2022January 30, 2021February 1, 2020
Operating lease cost$336,094 $327,325 $322,346 
Finance lease cost:
Amortization of right-of-use assets1,128 564 1,128 
Interest on lease liabilities4,022 3,965 2,503 
Total finance lease costs5,150 4,529 3,631 
Sublease income(980)(251)— 
Variable lease costs85 230 98 
Net lease costs$340,349 $331,833 $326,075 
The weighted-average remaining lease term and weighted-average discount rate for operating and finance leases as of January 29, 2022 were as follows:
Operating LeasesFinance Leases
Weighted-average remaining lease term (in years)8.911.2
Weighted-average discount rate7.8 %7.7 %
Cash paid for amounts included in the measurement of lease liabilities were as follows (in thousands):
January 29, 2022January 30, 2021February 1, 2020
Operating cash flows paid for operating leases$325,941 $317,997 $311,971 
Operating cash flows paid for interest portion of finance leases4,022 3,965 2,503 
Financing cash flows paid for principal portion of finance leases1,112 984 612 
Future lease commitments
Future lease commitments to be paid by the Company as of January 29, 2022 were as follows (in thousands):
Fiscal YearOperating LeasesFinance Leases
2022$337,452 $3,601 
2023335,268 3,601 
2024317,742 3,601 
2025302,356 3,928 
2026287,180 3,970 
Thereafter1,860,343 11,947 
Total future minimum lease payments3,440,341 30,648 
Less: imputed interest(1,239,128)(14,566)
Present value of lease liabilities$2,201,213 $16,082