Leases (Tables)

9 Months Ended

Oct. 30, 2021

The following table provides a summary of the Company’s operating lease costs for the thirteen and thirty-nine weeks ended October 30, 2021 and October 31, 2020:


	Thirteen Weeks Ended				Thirty-nine Weeks Ended
(in thousands)	October 30, 2021		October 31, 2020		October 30, 2021		October 31, 2020
Single lease cost (1)	$	66,969	$	83,743	$	207,046	$	264,932
Variable lease cost (2)	26,409		14,428		68,875		61,763
Operating lease right-of-use asset impairment (3)	5,512		3,979		8,216		44,397
Sublease income (4)	(1,068)		—		(3,256)		—
Total operating lease cost	$	97,822	$	102,150	$	280,881	$	371,092

(1)Included amortization and interest expense associated with operating lease right-of-use assets and the impact from remeasurement of operating lease liabilities.

(2)Included variable payments related to both lease and nonlease components, such as contingent rent payments made by the Company based on net sales performance, and payments related to taxes, insurance, and maintenance costs, as well as the benefit of $1.7 million and $14.6 million of rent abatements during the thirteen and thirty-nine weeks ended October 30, 2021 related to the effects of the COVID-19 pandemic that resulted in the total payments required by the modified contract being substantially the same as or less than total payments required by the original contract. The benefit related to rent abatements recognized during the thirteen and thirty-nine weeks ended October 31, 2020 was $1.9 million and $18.9 million respectively.

(3)Refer to Note 9, “ASSET IMPAIRMENT,” for details related to operating lease right-of-use asset impairment charges.

(4)The terms of the sublease agreement entered into by the Company with a third party during Fiscal 2020 related to one of its previous flagship store locations have not changed materially from that disclosed in Note 8, “LEASES,” of the Notes to Consolidated Financial Statements contained in “ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA” of A&F’s Annual Report on Form 10-K for Fiscal 2020. Sublease income is recognized in other operating income (loss), net on the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss).