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Leases (Tables)
3 Months Ended
May 02, 2020
Leases  
Schedule of lease expense

 

 

 

 

 

 

 

 

    

Thirteen Weeks Ended

 

 

May 2, 2020

 

May 4, 2019

Operating lease cost

    

$

12,553

 

$

11,777

Variable lease cost

 

 

1,793

 

 

2,316

Short term lease cost

 

 

364

 

 

256

Total lease cost

 

$

14,710

 

$

14,349

 

Schedule of future minimum rent payments under operating leases

Future minimum lease payments as of May 2, 2020 are as follows (in thousands):

 

 

 

 

 

 

Fiscal Year

    

Lease Costs

 

Remainder of 2020

    

$

43,471

 

2021

 

 

45,090

 

2022

 

 

34,296

 

2023

 

 

26,843

 

2024

 

 

19,203

 

Thereafter

 

 

30,698

 

Total future minimum lease payments

 

 

199,601

 

Less:  imputed interest

 

 

(15,600)

(1)

Total present value of lease liabilities

 

$

184,001

(2)

 

(1)

Calculated using the discount rate for each lease.

(2)

Includes short-term and long-term operating leases.

Schedule of supplemental cash flow and other information

 

 

 

 

 

 

 

 

    

Thirteen Weeks Ended

 

 

May 2, 2020

 

May 4, 2019

Cash paid for operating leases

    

$

4,032

 

$

12,594

Right of use assets obtained in exchange for new operating lease liabilities

 

$

8,962

 

$

26,826

 

 

 

 

 

 

 

Weighted average remaining lease term (years) - operating leases

 

 

5.20

 

 

4.29

Weighted average discount rate - operating leases

 

 

3.45%

 

 

3.81%