Leases (Tables)

3 Months Ended

May 04, 2019

Leases [Abstract]

Supplemental balance sheet information, Components of net lease cost and Supplemental cash flow information

Supplemental balance sheet information related to leases as of May 4, 2019 is as follows:

	May 4, 2019
Weighted-average remaining lease term (years):	7.4
Weighted-average discount rate:	3.1	%

The following table is a summary of the Company’s components of net lease cost for the thirteen weeks ended May 4, 2019:

		Thirteen Weeks Ended
In thousands	Classification	May 4, 2019
Operating lease cost	Cost of sales, including buying and occupancy costs	$	430,331
Variable and short term lease cost	Cost of sales, including buying and occupancy costs	281,506
Total lease cost		$	711,837

Supplemental cash flow information related to leases for the thirteen weeks ended May 4, 2019 is as follows:

	Thirteen Weeks Ended
In thousands	May 4, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for operating leases	$	421,488
Lease liabilities arising from obtaining right of use assets	$	453,198

Operating lease liability maturity schedule

The following table summarizes the maturity of lease liabilities under operating leases as of May 4, 2019:

In thousands	May 4, 2019
Fiscal year 2020 (remaining 9 months)	$	1,292,888
2021	1,650,563
2022	1,499,833
2023	1,326,566
2024	1,129,183
Later years	3,138,587
Total lease payments(a)	10,037,620
Less: imputed interest(b)	1,072,846
Total lease liabilities(c)	$	8,964,774

(a) Operating lease payments exclude legally binding minimum lease payments for leases signed but not yet commenced and include options to extend lease terms that are now deemed reasonably certain of being exercised according to our Lease Accounting Policy.

(b) Calculated using the incremental borrowing rate for each lease.

(c) Total lease liabilities are broken out on the Consolidated Balance Sheets between Current portion of operating lease liabilities and Long-term operating lease liabilities.

Schedule of gross minimum rental commitments under noncancelable leases

The following table represents the gross minimum rental commitments under noncancelable leases, as disclosed in the Company's Annual Report on Form 10-K for the fiscal year ended February 2, 2019:

In thousands	February 2, 2019
Fiscal year 2020	$	1,676,700
2021	1,603,378
2022	1,441,444
2023	1,253,420
2024	1,042,184
Later years	2,774,845
Total lease payments	$	9,791,971