XML 48 R36.htm IDEA: XBRL DOCUMENT v3.20.2
Gain on Sale of Distribution Centers (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Oct. 31, 2020
Nov. 02, 2019
Oct. 31, 2020
Nov. 02, 2019
Jun. 12, 2020
Feb. 01, 2020
Property, Plant and Equipment [Line Items]            
Gain on sale of distribution centers $ 0 $ 178,534 $ 463,053 $ 178,534    
Gross financing proceeds from sale and leaseback     133,999 $ 0    
Sale Leaseback Transaction [Line Items]            
Operating lease right-of-use assets 1,679,054   $ 1,679,054     $ 1,202,252
Land and Building [Member]            
Property, Plant and Equipment [Line Items]            
Gross Proceeds from Sale of Real Estate 725,000          
Net Proceeds from Sale of Real Estate 586,900          
Gain on sale of distribution centers 463,100 $ 178,500        
Selling and administrative expenses, sale and leaseback transaction 4,000          
Gross financing proceeds from sale and leaseback $ 134,000          
Land and Building [Member] | Ohio and Alabama Distribution Centers [Member]            
Sale Leaseback Transaction [Line Items]            
Lessee, Operating Lease, Term of Contract         15 years  
Land and Building [Member] | Oklahoma and Pennsylvania Distribution Centers [Member]            
Sale Leaseback Transaction [Line Items]            
Lessee, Operating Lease, Term of Contract         20 years  
Land and Building [Member] | Ohio, Alabama, Oklahoma, and Pennsylvania Distribution Centers [Member]            
Sale Leaseback Transaction [Line Items]            
Sale Leaseback Transaction, Lease Terms The leases for the Columbus, OH and Montgomery, AL distribution centers each have an initial term of 15 years and multiple five-year extension options. The leases for the Durant, OK and Tremont, PA distribution centers each have an initial term of 20 years and multiple five-year extension options. At lease commencement, we determined that none of the extension options were reasonably certain to be exercised. Therefore, none of the extension options were included in the computation of the operating lease liabilities and operating lease right-of-use assets. At commencement of the leases, we recorded aggregate operating lease liabilities of $466.1 million and aggregate operating lease right-of-use assets of $466.1 million. The weighted average discount rate for the leases was 6.2%. All of the leases are absolute net. Additionally, all of the leases include a right of first refusal beginning after the fifth year of the initial term which allows us to purchase the leased property if the buyer-lessor receives a bona fide purchase offer from a third-party. In connection with our entrance into the sale and leaseback transactions, we agreed to repay all borrowings outstanding under the 2018 Credit Agreement and restrict our borrowings under the 2018 Credit Agreement for 90 days following closing of the transactions.          
Operating Lease, Liability         $ 466,100  
Operating lease right-of-use assets         $ 466,100  
Operating Lease, Weighted Average Discount Rate, Percent         6.20%