Leases (Tables)

12 Months Ended

Feb. 03, 2024

Leases [Abstract]

Summary of Components of Lease Costs

The following table is a summary of the Company’s components of lease costs for fiscal 2023, fiscal 2022 and fiscal 2021:

	Fiscal 2023		Fiscal 2022		Fiscal 2021
(in thousands)
Operating lease cost	$	45,018	$	44,297	$	43,921
Variable lease costs(1)		12,849		12,885		13,290
Total lease costs	$	57,867	$	57,182	$	57,211

(1)Variable lease costs include the cost of property taxes, insurance and common area maintenance fees related to its leases.

Supplemental Cash Flow Information Related to Leases

Supplemental cash flow and balance sheet information related to leases for fiscal 2023, fiscal 2022 and fiscal 2021 is as follows:

(in thousands)	Fiscal 2023			Fiscal 2022			Fiscal 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	51,411		$	55,068		$	57,816
Non-cash operating activities:
Right-of-use assets obtained in exchange for operating lease liabilities	$	46,960		$	26,239		$	30,777
Weighted average remaining lease term	4.9 yrs.			4.3 yrs.			4.3 yrs.
Weighted average discount rate		6.52	%		6.39	%		6.91	%

Schedule of Reconciliation of Undiscounted Cash Flows Related to Operating Lease Liabilities

The table below reconciles the undiscounted cash flows for each of the next five years and thereafter to the operating lease liabilities recorded on the Consolidated Balance Sheet as of February 3, 2024:

(in thousands)
2024	$	45,945
2025		42,651
2026		30,181
2027		22,765
2028		14,696
Thereafter		25,049
Total minimum lease payments	$	181,287
Less: amount of lease payments representing interest		26,750
Present value of future minimum lease payments	$	154,537
Less: current obligations under leases		37,221
Noncurrent lease obligations	$	117,316