Commitments Under Long-Term Leases

12 Months Ended

Feb. 01, 2014

Leases [Abstract]

Commitments Under Long-Term Leases

Commitments Under Long-Term Leases

Operating Leases

The Company leases its office space and all of its retail store locations and transportation equipment under various noncancelable operating leases. The leases have varying terms and expire at various dates through 2030. The store leases in the United States, Puerto Rico and Canada typically have initial terms of approximately 10 years. The stores leases in the United Kingdom and the Republic of Ireland typically have initial terms of between 10 and 20 years. Generally, most of the leases require the Company to pay taxes, insurance, maintenance costs and contingent rentals based on sales. Approximately 3% of the Company’s leases contain renewal options.

Rental expense under operating leases of continuing operations was:

In thousands	2014			2013			2012
Minimum rentals	$	227,880		$	215,516		$	192,175
Contingent rentals	9,667			14,786			12,918
Sublease rentals	(663		)	(667		)	(686		)
Total Rental Expense	$	236,884		$	229,635		$	204,407

Minimum rental commitments payable in future years are:

Fiscal Years	In thousands
2015	$	235,049
2016	216,870
2017	188,714
2018	157,295
2019	126,726
Later years	381,825
Total Minimum Rental Commitments	$	1,306,479

For leases that contain predetermined fixed escalations of the minimum rentals, the related rental expense is recognized on a straight-line basis and the cumulative expense recognized on the straight-line basis in excess of the cumulative payments is included in deferred rent and other long-term liabilities on the Consolidated Balance Sheets. The Company occasionally receives reimbursements from landlords to be used towards construction of the store the Company intends to lease. Leasehold improvements are recorded at their gross costs including items reimbursed by landlords. The reimbursements are recorded as deferred rent and amortized as a reduction of rent expense over the initial lease term. Tenant allowances of $24.2 million and $20.0 million for Fiscal 2014 and 2013, respectively, and deferred rent of $41.6 million and $37.9 million for Fiscal 2014 and 2013, respectively, are included in deferred rent and other long-term liabilities on the Consolidated Balance Sheets.