Leases

12 Months Ended

Feb. 01, 2020

Leases

Net lease cost recognized on our Consolidated Statement of Income is summarized as follows:



	Fiscal Year
($ in millions)	2019
Operating lease cost	$	1,233
Variable lease cost	621
Sublease income	(9		)
Net lease cost	$	1,845

As of February 1, 2020, the maturities of lease liabilities based on the total minimum lease commitment amount including options to extend lease terms that are reasonably certain of being exercised are as follows:



($ in millions)
Fiscal Year
2020	$	1,185
2021	1,053
2022	952
2023	840
2024	747
Thereafter	3,172
Total minimum lease payments	7,949
Less: Interest	(1,521		)
Present value of operating lease liabilities	6,428
Less: Current portion of operating lease liabilities	(920		)
Long-term operating lease liabilities	$	5,508

During fiscal 2019, non-cash operating lease asset additions, net of remeasurements and modifications, were $533 million. As of February 1, 2020, the minimum lease commitment amount for operating leases signed but not yet commenced, primarily for retail stores, was $240 million.

As of February 1, 2020, the weighted-average remaining operating lease term was 8.7 years and the weighted-average discount rate was 4.7 percent for operating leases recognized on our Consolidated Financial Statements.

As of February 1, 2020, the Company's finance leases were not material to our Consolidated Financial Statements.

See Note 1 of Notes to Consolidated Financial Statements for additional disclosures related to leases.

In accordance with ASC 840, Leases, the aggregate minimum non-cancelable annual lease payments under operating leases in effect on February 2, 2019 were as follows:



($ in millions)
Fiscal Year
2019	$	1,156
2020	1,098
2021	892
2022	730
2023	539
Thereafter	1,520
Total minimum lease commitments	$	5,935

The total minimum lease commitment amount above does not include minimum sublease rent income of $12 million receivable in the future under non-cancelable sublease agreements. In addition, the total minimum lease commitment amount above excludes options to extend lease terms that are reasonably assured of being exercised.