Leases (Tables)

12 Months Ended

Feb. 01, 2020

Leases [Abstract]

Operating lease information

The lease cost for operating leases that was recognized in the accompanying consolidated statements of operations was as follows:

	Year Ended
(in millions)	February 1, 2020
Operating lease cost	$	1,520.5
Variable lease cost	375.9
Short-term lease cost	14.8
Total lease cost*	$	1,911.2
*Excludes sublease income, which is immaterial

Information regarding the weighted-average remaining lease term and the weighted-average discount rate for operating leases as of February 1, 2020 is as follows:

Weighted-average remaining lease term (years)	6.4
Weighted-average discount rate	4.3	%

The following represents supplemental information pertaining to the Company’s operating lease arrangements:

	Year Ended
(in millions)	February 1, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	1,433.4
Right-of-use assets obtained in exchange for new operating lease liabilities	1,286.1

Maturities of lease liabilities

As of February 1, 2020, maturities of lease liabilities were as follows:

	(in millions)
2020	$	1,421.4
2021	1,325.4
2022	1,124.8
2023	902.2
2024	685.8
Thereafter	1,760.3
Total undiscounted lease payments	7,219.9
Less interest	961.1
Present value of lease liabilities	$	6,258.8

Future minimum lease payments in accordance with ASC 840

As previously disclosed in the Company’s Annual Report on Form 10-K for the year ended February 2, 2019 and in accordance with ASC 840, future minimum lease payments under non-cancellable operating leases were as follows as of February 2, 2019:

	(in millions)
2019	$	1,435.9
2020	1,176.7
2021	1,100.0
2022	899.6
2023	729.1
Thereafter	1,966.3
Total minimum lease payments	$	7,307.6