Leases (Tables)

12 Months Ended

Jan. 29, 2022

Leases [Abstract]

Lease Cost

Operating lease expense was as follows:

	Fiscal 2021		Fiscal 2020		Fiscal 2019
Operating lease cost (1)	$	219,351	$	235,301	$	250,767

(1) Includes approximately $38.4 million, $30.4 million and $22.6 million in variable lease costs for fiscal 2021, 2020 and 2019, respectively.

Supplemental cash flow information related to operating leases was as follows:

	Fiscal 2021		Fiscal 2020			Fiscal 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows	$	220,163	$	175,329	(1)	$	228,121
Right of use assets obtained in exchange for lease obligations, non-cash	$	35,010	$	140,833		$	51,204

(1) The Company suspended or deferred rental payments when and where applicable as a result of the impact of the pandemic..

Supplemental Balance Sheet Information Related to Operating Leases

Supplemental balance sheet information related to operating leases was as follows:

	Fiscal 2021			Fiscal 2020
Right of Use Assets	$	463,077		$	586,061
Current lease liabilities	$	172,506		$	194,551
Long-term lease liabilities	381,081			515,797
Total operating lease liabilities	$	553,587		$	710,348
Weighted Average Remaining Lease Term (years)	4.0			4.5
Weighted Average Discount Rate (1)	4.5		%	4.9		%

(1) The incremental borrowing rate used by the Company is based on the rate at which the Company could borrow funds using its credit rating for a collateralized loan of similar term to the lease. The weighted average discount rate represents a weighted average of the incremental borrowing rate for each lease, weighted based on the remaining fixed lease obligations.

Maturities of Operating Lease Liabilities

Minimum future rental payments under non-cancelable operating leases (including leases with certain minimum sales cancellation clauses described below and exclusive of variable common area maintenance charges and/or contingent rental payments based on sales) as of January 29, 2022, are approximately as follows:

 

FISCAL YEAR ENDING:
January 28, 2023	$	193,685
February 3, 2024	151,157
February 1, 2025	109,307
January 31, 2026	70,492
January 30, 2027	43,276
Thereafter	38,893
Total future minimum lease payments	$	606,810
Less imputed interest	(53,223)
Total	$	553,587