XML 45 R13.htm IDEA: XBRL DOCUMENT v3.25.1
Leases
 12 Months Ended
Feb. 02, 2025
Leases [Abstract]  
Leases Leases
Components of lease expense were as follows (in thousands):
202520242023
Operating lease expense$34,469 $30,305 $24,173 
Variable and short term lease expense7,465 13,290 16,803 
Total lease expense$41,934 $43,595 $40,976 
Variable lease expense includes percentage rent, maintenance, sales tax on rent, insurance and other variable charges included in the lease as well as rental expenses related to short term leases.
During fiscal 2025, 2024, and 2023, we did not recognize any impairment charges associated with showroom-level right-of-use assets.
Future minimum lease payments under non-cancelable leases as of February 2, 2025 were as follows (in thousands):
2026$32,024 
202733,583 
202831,331 
202928,826 
203026,810 
Thereafter70,284 
Total undiscounted future minimum lease payments222,858 
Less: imputed interest(39,835)
Total present value of lease obligations183,023 
Less: current operating lease liability(22,662)
Operating lease liability- long term$160,361 

Supplemental cash flow information related to our operating leases is as follows (in thousands):

202520242023
Operating cash flow information:
Amounts paid on operating lease liabilities$34,651$29,748$23,724
Non-cash activities
Net additions to right-of-use assets obtained in exchange for lease obligations$22,639$42,064$53,239
Weighted average remaining lease term - operating leases6.9 years7.5 years7.4 years
Weighted average discount rate - operating leases5.23%4.97%4.10%