We lease all of our physical stores, our single distribution center, which has a current lease term expiring in 2034, and certain other locations that support the recently acquired Shoe Station operations. We also enter into leases of equipment, copiers and billboards. Prior to the purchase of our corporate headquarters in fiscal 2019, it was also leased. We do not have any leases with related parties. In addition, we do not have any sublease arrangements with any related party or third party. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.

Our real estate leases typically include options to extend the lease or to terminate the lease at our sole discretion. Options to extend real estate leases typically include one or more options to renew, with renewal terms that typically extend the lease term for five years or more. Many of our leases also contain “co-tenancy” provisions, including the required presence and continued operation of certain anchor tenants in the adjoining retail space. If a co-tenancy violation occurs, we have the right to a reduction of rent for a defined period after which we have the option to terminate the lease if the violation is not cured. In addition to co-tenancy provisions, certain leases contain “go-dark” provisions that allow us to cease operations while continuing to pay rent through the end of the lease term. When determining the lease term, we include options that are reasonably certain to be exercised.

Our leases typically provide for fixed minimum rental payments, and certain leases provide for contingent rental payments based upon various specified percentages of sales above minimum levels. In addition to rental payments, we are required to pay certain non-lease components, such as real estate taxes, insurance and CAM, on most of our real estate leases. Such non-lease components are typically variable in nature. Certain real estate leases also contain escalation clauses for increases in minimum rentals, operating costs and taxes.

Lease-related costs reported in our consolidated statements of income were as follows:


(In thousands)	2021		2020
Operating lease cost	$	54,417	$	53,418
Variable lease cost
CAM, property taxes and insurance		18,914		19,805
Percentage rent and other variable lease costs		2,723		2,008
Total	$	76,054	$	75,231

During fiscal 2020, we deferred lease payments of approximately $3.1 million during April, May, and June pursuant to arrangements reached with various landlords. These deferrals were substantially repaid over the remainder of fiscal 2020. We accounted for these arrangements as if they were part of the enforceable rights and obligations of the existing contracts, not as lease modifications. Rent continued to be recognized on a straight line basis for contracts with these deferrals.

Other information related to leases, including supplemental cash flow information, consists of:


(In thousands)	2021			2020
Cash paid for amounts included in the measurement of operating lease liabilities	$	46,562		$	38,477
ROU assets obtained in exchange for operating lease liabilities1	$	64,058		$	36,290

	As of			As of
	January 29, 2022			January 30, 2021
Weighted-average remaining lease term for operating leases (in years)		6.0		6.1
Weighted-average discount rate for operating leases		5.2	%		5.2	%

1) Includes ROU assets added as part of the Shoe Station acquisition described in Note 3 - "Acquisition of Shoe Station"

The following table reconciles the undiscounted cash flows for each of the first five years and the total of the remaining years to our operating lease liabilities as of January 29, 2022:


(In thousands)	Operating Leases
2022	$	62,777
2023		58,678
2024		44,188
2025		31,946
2026		27,834
Thereafter to 2050		62,271
Total undiscounted lease payments		287,694
Less: Imputed interest		41,343
Total operating lease liabilities		246,351
Less: Current portion of operating lease liabilities		51,563
Long-term portion of operating lease liabilities	$	194,788