Leases (Tables)

12 Months Ended

Jan. 28, 2023

Leases [Abstract]

Lease Terms Summary

The following table summarizes the majority of our fixed, non-cancellable lease terms:

Property Type	Lease Term (in years)
Nordstrom stores	15 – 30
Nordstrom Rack stores	Approximately 10
Office and Supply Chain Network facilities	5 – 20

Components Of Lease Cost

The following table summarizes the components of lease cost:

Fiscal year	2022	2021	2020
Operating Lease Cost	$280	$265	$263
Variable lease cost1	97	100	100
Sublease income	(19)	(20)	(19)
Total lease cost, net	$358	$345	$344

1 Variable lease cost includes short-term lease cost, which was immaterial in 2022, 2021 and 2020.

Future Lease Payments

The following table summarizes future lease payments as of January 28, 2023:

Fiscal year	Operating Leases
2023	$339
2024	344
2025	295
2026	247
2027	198
Thereafter	793
Total lease payments1,2	2,216
Less: amount representing interest	(432)
Present value of net lease payments3	$1,784

1 Total lease payments do not include payments for variable lease costs that are required by most of our lease agreements.

2 Total lease payments include Nordstrom Canada future lease payments. On March 2, 2023, Nordstrom Canada commenced a wind-down of its business operations (see Note 15: Subsequent Events for more information).

3 Net lease payments exclude $101 of lease payments for operating leases that were signed but not yet commenced as of January 28, 2023.

Supplemental Lease Information

The following table includes supplemental information:

Fiscal year	2022	2021		2020
Cash paid related to operating lease liabilities	$354	$371		$332
Operating lease interest	85	87		95
Operating lease liabilities arising from lease agreements	260	137		79
		January 28, 2023		January 29, 2022
Weighted-average remaining lease term		8 years		9 years
Weighted-average discount rate		4.9	%	4.7	%