Commitments and Contingencies

12 Months Ended

Jan. 31, 2015

Notes to Financial Statements [Abstract]

Commitments and Contingencies

Commitments and Contingencies

Operating Leases

The Company occupies its retail stores and administrative facilities under operating leases, most of which are non-cancelable. Many of the store leases grant the Company the right to extend the term for one or two additional five-year periods under substantially the same terms and conditions as the original leases and also contain early termination options, which can be exercised by the Company under specific conditions. Most store leases require payment of a specified minimum rent, plus contingent rent based on a percentage of the store’s net sales in excess of a specified threshold. In addition, most of the leases require the payment of real estate taxes, insurance and certain common area maintenance (“CAM”) costs. The Company also leases certain office equipment for its corporate offices and store locations under non-cancelable operating leases, which generally have three-year terms.

Future minimum lease payments under non-cancelable operating leases as of January 31, 2015 are as follows:

Fiscal Year	(in thousands)
2015	$	211,182
2016	186,276
2017	171,203
2018	150,959
2019	132,921
Thereafter	363,047
Total	1,215,588
Less sublease rentals	(7,688		)
Net rentals	$	1,207,900

The minimum lease payments presented above do not include CAM charges or real estate taxes due under the Company’s store and office operating leases. These charges are generally not fixed and can fluctuate from year to year. Total CAM charges and real estate taxes for Fiscal 2014, Fiscal 2013 and Fiscal 2012 were $89.9 million, $84.4 million and $78.8 million, respectively.

Rent expense, excluding CAM charges and real estate taxes, for the fiscal years ended January 31, 2015, February 1, 2014 and February 2, 2013 was as follows:

	Fiscal Year Ended
	January 31, 2015		February 1, 2014		February 2, 2013
	(in thousands)
Minimum rent	$	212,042	$	218,640	$	212,947
Percentage rent	1,227		1,782		2,911
Total	$	213,269	$	220,422	$	215,858

7. Commitments and Contingencies (Continued)

Legal Proceedings

The Company is subject to various legal proceedings and claims that arise in the ordinary course of its business. Although the amount of any liability that could arise with respect to these actions cannot be determined with certainty, in the Company’s opinion, any such liability will not have a material adverse effect on its consolidated financial position, consolidated results of operations or liquidity.