Leases

3 Months Ended

May 01, 2021

The Company leases all of its stores, three of its distribution centers and certain equipment under non-cancellable operating leases that expire at various dates through 2033. The Company’s stores generally have initial lease terms of 10 to 15 years and contain multiple five-year renewal options and rent escalation provisions. The lease agreements are primarily for the payment of minimum annual rentals, costs of utilities, property taxes, maintenance, common areas and insurance.

In response to the COVID-19 pandemic, the Company negotiated rent deferrals with its landlords, affecting its payments for the 13 weeks ended May 2, 2020. Supplemental cash flow information related to operating leases for the 13 weeks ended May 1, 2021 and May 2, 2020 were as follows (in millions):


	13 weeks ended
	May 1, 2021		May 2, 2020
Cash paid for amounts included in the measurement of operating lease liabilities	$	171.6	$	78.5
Non-cash operating lease assets and liabilities obtained in exchange for new or modified leases	$	118.1	$	91.9