Leases

6 Months Ended

Jul. 31, 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, which reduced payments for the 26 weeks ended August 1, 2020. Supplemental cash flow information related to operating leases for the 26 weeks ended July 31, 2021 and August 1, 2020 were as follows (in millions):


	26 Weeks Ended
	July 31, 2021		August 1, 2020
Cash paid for amounts included in the measurement of operating lease liabilities	$	342.1	$	265.8
Non-cash operating lease assets and liabilities obtained in exchange for new or modified leases	$	169.0	$	143.5