Leases

12 Months Ended

Jan. 30, 2022

Leases [Abstract]

Leases

Leases

The components of our lease costs are as follows:

	For the Fiscal Year Ended
(In thousands)	January 30, 2022		January 31, 2021
Operating lease costs	$	256,924	$	263,126
Variable lease costs	127,784		107,477
Total lease costs	$	384,708	$	370,603

Sublease income and short-term lease costs were not material to us for fiscal 2021.

Supplemental cash flow information related to our leases are as follows: 

	For the Fiscal Year Ended
(In thousands)	January 30, 2022		January 31, 2021
Cash paid for amounts included in the measurement of operating lease liabilities	$	279,005	$	285,906
Net additions to right-of-use assets	$	268,143	$	135,457

Additional information related to our leases is as follows: 

	For the Fiscal Year Ended
	January 30, 2022		January 31, 2021
Weighted average remaining lease term (years)	7.0		7.0
Weighted average incremental borrowing rate	3.2	%	3.6	%

As of January 30, 2022, the future minimum lease payments under our operating lease liabilities are as follows:  

(In thousands)
Fiscal 2022	$	269,238
Fiscal 2023	237,377
Fiscal 2024	207,800
Fiscal 2025	182,308
Fiscal 2026	148,787
Fiscal 2027 and thereafter	407,012
Total lease payments	1,452,522
Less: interest	(168,274)
Total operating lease liabilities	1,284,248
Less: current operating lease liabilities	(217,409)
Total non-current operating lease liabilities	$	1,066,839

We have also entered into agreements to lease additional distribution facility and retail space, which we will occupy beginning in fiscal 2022. Accordingly, future minimum lease payments under these agreements are not included in the table above.

Memphis-Based Distribution Facility

We have entered into an agreement with a partnership comprised of the estate of W. Howard Lester, our former Chairman of the Board and Chief Executive Officer, and the estate of James A. McMahan, a former Director Emeritus and significant stockholder and two unrelated parties to lease a distribution facility in Memphis, Tennessee through January 31, 2024. We made annual rental payments of approximately $2,105,000, $1,493,000, and $1,765,000 plus applicable taxes, insurance and maintenance expenses in fiscal 2021, fiscal 2020 and fiscal 2019, respectively.