Leases (Tables)

12 Months Ended

Feb. 01, 2020

Leases [Abstract]

Schedule of Lease Term and DIscount Rate

The weighted average lease term and discount rate for the Company’s outstanding operating leases were as follows:

	February 1, 2020
Weighted average remaining lease term (in years)	6.7
Weighted average discount rate	5.5	%

Total Lease Costs For Operating Leases

Total lease costs are as follows:

(in millions)	Fiscal 2020
Operating lease cost	$	460.3
Short-term lease cost	19.4
Variable lease cost	107.1
Sublease income	(2.0		)
Total lease cost	$	584.8

Rental Expense For Operating Leases

The rent expense as determined prior to the adoption of ASC 842 was as follows:

(in millions)	Fiscal 2019			Fiscal 2018
Minimum rentals	$	510.3		$	528.1
Contingent rent	8.1			8.5
Sublease income	(1.1		)	(0.5		)
Total	$	517.3		$	536.1

Schedule of Supplemental Cash Flow Information

Supplemental cash flow information related to leases was as follows:

(in millions)	Fiscal 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	467.7
Operating lease right-of-use assets obtained in exchange for lease obligations	149.9
Reduction in the carrying amount of right-of-use assets	360.1

Future Minimum Operating Lease Payments

The future minimum operating lease payments for operating leases having initial or non-cancelable terms in excess of one year are as follows:

(in millions)	February 1, 2020
Fiscal 2021	$	455.5
Fiscal 2022	395.1
Fiscal 2023	334.8
Fiscal 2024	265.6
Fiscal 2025	209.0
Thereafter	551.0
Total lease payments	$	2,211.0
Less: Imputed interest	(435.1		)
Present value of lease liabilities	$	1,775.9

Schedule of Future Minimum Rental Payments for Operating Leases

The future minimum lease payments by fiscal year as determined prior to the adoption of ASC 842, not including contingent rent, as disclosed in our Annual Report on Form 10-K for the fiscal year ended February 2, 2019, were as follows:

(in millions)	February 2, 2019
Fiscal 2020	$	450.4
Fiscal 2021	408.4
Fiscal 2022	361.1
Fiscal 2023	312.0
Fiscal 2024	247.4
Thereafter	755.2
Total	$	2,534.5