LEASES (Tables)

3 Months Ended

May 02, 2020

LEASES

Components of Lease Costs

The components of lease costs are as follows (in thousands):

	13 Weeks Ended
	May 2,		May 4,
	2020		2019
Operating lease cost (1)	$	106,430	$	105,465
Variable lease cost (2)		39,445		36,440
Total lease cost	$	145,875	$	141,905

(1) Includes an immaterial amount related to short-term non-real estate leases.

(2) Includes taxes, insurance and common areas maintenance costs for our leased facilities which are paid based on actual cost incurred by the lessor. Also includes contingent rent which is immaterial in the periods presented.

Operating Leases, Supplemental Cash Flow Information

Additional information related to our operating leases is as follows (in thousands, except weighted-average data):

	13 Weeks Ended
	May 2,		May 4,
	2020		2019
Operating cash outflows included in the measurement of lease liabilities	$	60,936	$	106,998
Operating lease assets obtained in exchange for new operating lease liabilities	$	56,806	$	52,709
Weighted-average remaining lease term		6.0 years		6.2 years
Weighted-average discount rate		6.3%		5.6%

Maturities of Lease Liabilities

Maturities of our lease liabilities are as follows as of May 2, 2020 (in thousands):

Fiscal Year
2020	$	335,426
2021		397,761
2022		337,630
2023		275,742
2024		214,431
Thereafter		463,794
Total lease payments	$	2,024,784
Less: Interest		(349,719)
Present value of lease liabilities	$	1,675,065