Leases (Tables)

12 Months Ended

Feb. 03, 2024

Leases [Abstract]

Lease Terms Summary

The following table summarizes the majority of our fixed, non-cancelable 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	2023	2022	2021
Operating Lease Cost	$278	$280	$265
Variable lease cost1	93	97	100
Sublease income	(25)	(19)	(20)
Total lease cost, net	$346	$358	$345

1 Variable lease cost includes short-term lease cost, which was immaterial in 2023, 2022 and 2021.

Future Lease Payments

The following table summarizes future lease payments as of February 3, 2024:

Fiscal year	Operating Leases
2024	$321
2025	324
2026	273
2027	224
2028	182
Thereafter	708
Total lease payments1	2,032
Amount representing interest	(415)
Present value of net lease payments2	$1,617

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

2 Net lease payments exclude $139 of lease payments for operating leases that were signed but not yet commenced as of February 3, 2024.

Supplemental Lease Information

The following table includes supplemental information:

Fiscal year	2023	2022		2021
Cash paid related to operating lease liabilities	$358	$354		$371
Operating lease interest	86	85		87
Operating lease liabilities arising from lease agreements	242	260		137
		February 3, 2024		January 28, 2023
Weighted-average remaining lease term		8 years		8 years
Weighted-average discount rate		5.5	%	4.9	%