Leases (Tables)

12 Months Ended

Jan. 30, 2021

Leases [Abstract]

Summary of Expense Categories and Cash Payments for Operating Leases, Average Remaining Lease Term and Discount Rate

The following table summarizes expense categories and cash payments for operating leases during the period. It also includes the total non-cash transaction activity for new operating lease ROU assets and related operating lease liabilities entered into during the period.

	For the Year Ended
	January 30,			February 1,
(In thousands)	2021			2020
Lease costs
Operating lease costs	$	325,005		$	349,429
Variable lease costs		98,057			102,797
Short-term leases and other lease costs		11,090			37,293
Total lease costs	$	434,152		$	489,519
Other information
Cash paid for operating lease liability	$	(331,543	)	$	(328,925	)
New operating lease ROU asset  entered into during the period	$	116,128		$	227,562

The following table contains the average remaining lease term and discount rate, weighted by outstanding operating lease liability as of the end of the period:

Lease term and discount rate	January 30, 2021
Weighted-average remaining lease term - operating leases	5.8 years
Weighted-average discount rate - operating leases	4.9%

Summary of Maturity Analysis of Operating Leases

The table below is a maturity analysis of the operating leases in effect as of the end of the period. Undiscounted cash flows for finance leases and short-term leases are not material for the periods reported and are excluded from the table below:

	Undiscounted cash flows
	January 30, 2021
(In thousands)
Fiscal years:
2021	$	363,230
2022		302,274
2023		275,442
2024		206,893
2025		173,202
Thereafter		388,922
Total undiscounted cash flows	$	1,709,963
Less: discount on lease liability		(232,597	)
Total lease liability	$	1,477,366

Summary of Fixed Minimum and Contingent Rent Expense

The Company adopted ASC 842 as of February 3, 2019 through the modified retrospective method. Prior period amounts have not been adjusted and continue to be reported in accordance with our historical accounting treatment. In accordance with the transition guidance within ASC 842, the following table provides the disclosures related to Fiscal Year 2018 as required under ASC 840, Leases. Refer to Note 2 for further information about the Company’s adoption of ASC 842.

	For the Year Ended
	February 2,
(In thousands)	2019
Store rent:
Fixed minimum	$	303,123
Contingent		13,883
Total store rent, excluding common area maintenance    charges, real estate taxes and certain other expenses	$	317,006
Offices, distribution facilities, equipment and other		18,636
Total rent expense	$	335,642