SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Jan. 30, 2016

A summary of rent expense follows:



(in thousands)	2015			2014			2013
Store rent:
Fixed minimum⁽¹⁾	$	404,836		$	432,794		$	464,937
Contingent	10,161			8,886			8,624
Deferred lease credits amortization	(28,619		)	(38,437		)	(45,899		)
Total store rent expense	386,378			403,243			427,662
Buildings, equipment and other	3,849			4,619			4,987
Total rent expense	$	390,227		$	407,862		$	432,649

⁽¹⁾Includes lease termination fees of $3.3 million, $12.4 million and $39.2 million for Fiscal 2015, Fiscal 2014 and Fiscal 2013, respectively. Fiscal 2015 includes a benefit of $1.6 million related to better than expected lease exit terms associated with the closure of the Gilly Hicks stand-alone stores. Fiscal 2014 and Fiscal 2013 include lease termination fees of $6.8 million and $39.1 million, respectively, related to the Gilly Hicks restructuring.

Schedule of Operating Lease Commitments Under Non-Cancelable Leases

A summary of operating lease commitments, including leasehold financing obligations, under non-cancelable leases follows:



(in thousands)
Fiscal 2016	$	388,501
Fiscal 2017	$	327,244
Fiscal 2018	$	240,877
Fiscal 2019	$	193,747
Fiscal 2020	$	155,732
Thereafter	$	423,303

Schedule of Weighted Average Number of Shares

The following table presents weighted-average shares outstanding and anti-dilutive shares:



(in thousands)	2015		2014		2013
Shares of common stock issued	103,300		103,300		103,300
Weighted-average treasury shares	(34,420	)	(31,515	)	(26,143	)
Weighted-average — basic shares	68,880		71,785		77,157
Dilutive effect of share-based compensation awards	537		1,152		1,509
Weighted-average — diluted shares	69,417		72,937		78,666
Anti-dilutive shares ⁽¹⁾	8,967		6,144		4,630


⁽¹⁾	Reflects the total number of shares related to outstanding share-based compensation awards that have been excluded from the computation of net income per diluted share because the impact would have been anti-dilutive.

- Definition

Tabular disclosure of a lessee's leasing arrangements including: (1) the basis on which contingent rental payments are determined, (2) the existence and terms of renewal or purchase options and escalation clauses, (3) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, (4) rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Disclosure may also include the specific period used to amortize material leasehold improvements made at the inception of the lease or during the lease term. Additionally, for operating leases having initial or remaining noncancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years, (b) the total of minimum rentals to be received in the future under noncancelable subleases as of the date of the latest balance sheet presented, and (c) for all operating leases, rental expense for each period for which an income statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included.

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