Commitments and Contingencies (Tables)

12 Months Ended

Jan. 25, 2020

Commitments and Contingencies

Schedule of derecognition of sale-leaseback and build-to-suit lease accounting guidance 842

In addition, ASC 842 eliminated the previous sale-leaseback and build-to-suit lease accounting guidance, which resulted in the derecognition of the following (in thousands):

	Balance Sheet	Derecognition as of
	Classification	January 27, 2019
Deferred gains on sale-leasebacks	Deferred rent	$	121,874
Financing obligations(a)	Financing Obligations		35,241
Build-to-suit assets(a)	Property and equipment, net		(22,777)
Deferred tax asset	Noncurrent deferred tax asset		(32,743)
Other	Several		(3,001)
Adjustment to retained earnings	Retained earnings	$	(98,594)

(a) Build-to-suit assets and related financing obligation liabilities that remained on the balance sheet after the end of the construction period.

Schedule of lease costs

The components of lease cost were as follows (in thousands):

	Fiscal Year Ended
	January 25, 2020
Operating lease cost(a)	$	142,508
Variable lease cost		23,086
Finance lease cost:
Amortization of right-of-use assets		298
Interest on lease liabilities		129
Total lease cost(b)	$	166,021

(a) Net of an immaterial amount of sublease income.

(b) Short-term lease cost for the fiscal year ended January 25, 2020 was immaterial.

Schedule of weighted average remaining lease term and discount rate

The table below presents additional information related to our leases as of January 25, 2020.

Weighted average remaining lease term
Operating leases	12.5	years
Finance leases	4.6	years
Weighted average discount rate
Operating leases	6.23	%
Finance leases	8.28	%

Schedule of supplemental cash flow information

Supplemental disclosures of cash flow information related to leases were as follows (in thousands):

	Fiscal Year Ended
	January 25, 2020
Cash paid for operating lease liabilities	$	126,511
Right-of-use assets obtained in exchange for operating lease liabilities	$	310,818
Cash paid for finance lease liabilities	$	294

Schedule of maturities of lease liabilities

Maturities of lease liabilities were as follows as of January 25, 2020 (in thousands):

	Operating Leases		Finance Leases		Total
2021	$	143,885	$	424	$	144,309
2022		142,382		424		142,806
2023		143,591		390		143,981
2024		143,485		239		143,724
2025		143,862		243		144,105
Thereafter		1,121,991		162		1,122,153
Total lease payments		1,839,196		1,882		1,841,078
Amount representing interest		(578,444)		(349)		(578,793)
Present value of lease liabilities		1,260,752		1,533		1,262,285
Less current obligations		(65,188)		(314)		(65,502)
Long-term lease obligations	$	1,195,564	$	1,219	$	1,196,783