LEASES (Tables)

12 Months Ended

Jan. 28, 2023

Lessee, Weighted Average Lease Term and Discount Rate


	January 28, 2023		January 29, 2022
Weighted-average remaining lease term (in years)	6.0		6.5
Weighted-average discount rate	4.5	%	4.2	%

Schedule of components of lease expenses


($ thousands)	2022		2021		2020
Operating lease expense	$	148,299	$	149,850	$	167,624
Variable lease expense		40,233		40,654		48,443
Short-term lease expense		4,059		2,837		4,512
Sublease income		(59)		(652)		(96)
Total lease expense ⁽¹⁾	$	192,532	$	192,689	$	220,483

(1)	Net of lease concessions recognized of $1.3 million, $2.1 million and $5.4 million for 2022, 2021 and 2020, respectively.

Lessee, Operating Lease, Liability, Maturity


($ thousands)
2023	$	156,589
2024		129,221
2025		100,282
2026		80,255
2027		58,171
Thereafter		139,877
Total minimum operating lease payments	$	664,395
Less imputed interest		(84,270)
Present value of lease obligations	$	580,125

Schedule of supplemental cash flow information related to leases


($ thousands)	2022		2021		2020
Cash paid for lease obligations⁽¹⁾	$	167,163	$	179,921	$	145,552
Cash received from sublease income		59		652		96

(1)

Cash paid for lease obligations in 2021 includes payment of certain lease payments deferred in 2020, as described above, as well as lease termination costs associated with the Naturalizer retail store closures, as further discussed in Note 4 to the consolidated financial statements. In addition, cash paid for lease obligations in 2020 was significantly lower than comparable periods, reflecting the deferral of lease payments during the onset of the pandemic.