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Leases (Tables)
12 Months Ended
Jan. 29, 2022
Leases [Abstract]  
Schedule of Lease Related Costs

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

 

Schedule of Other Information Related to Leases

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"

Undiscounted Cash Flows to Operating Lease Liabilities

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