Leases (Tables)

9 Months Ended

Nov. 02, 2019

Leases [Abstract]

Summary of amounts recognized in Condensed Consolidated Balance Sheet related to operating leases

Amounts recognized in the Condensed Consolidated Balance Sheet related to operating leases as of November 2, 2019 were as follows:

	($ in millions)
Assets
Operating lease right-of-use assets	$	2,956
Liabilities
Current
Operating lease liabilities		508
Noncurrent
Operating lease liabilities		2,719
Total lease liabilities	$	3,227

Summary of components of lease cost

The components of lease cost as of November 2, 2019 were as follows:

	Thirteen weeks ended		Thirty-nine weeks ended
($ in millions)	November 2, 2019		November 2, 2019
Operating lease costs (1)	$	168	$	499
Variable lease costs (2)		84		249
Short-term lease costs		5		19
Sublease income		(1)		(1)
Net lease cost	$	256	$	766

(1) Primarily relate to retail stores and distribution centers, for which the expenses are classified within cost of sales. Operating lease costs for non-store rents are included in SG&A.

⁽²⁾ Primarily include rent payments based on a percentage of store sales, common area maintenance costs, and taxes. These costs are expensed as incurred and are included within cost of sales.

Summary of other information related to operating leases

Weighted average remaining lease term (years)	7.1
Weighted average discount rate	5.4	%

Summary of supplemental cash flow information related to leases

Supplemental cash flow information related to leases for the thirty-nine weeks ended November 2, 2019 was as follows:

	($ in millions)
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows used in operating leases	$	506
Right-of-use assets obtained in exchange for lease obligations:
Operating leases		211

Summary of maturities of lease liabilities

Maturities of lease liabilities as of November 2, 2019 are as follows:

	($ in millions)
Remainder of 2019	$	173
2020		655
2021		607
2022		550
2023		479
Thereafter		1,479
Total lease payments		3,943
Less: Interest		716
Total lease liabilities	$	3,227

Summary of estimated future minimum non-cancellable lease commitments

	($ in millions)
2019	$	672
2020		631
2021		583
2022		527
2023		456
Thereafter		1,408
Total operating lease commitments	$	4,277