Leases (Tables)

12 Months Ended

Jan. 29, 2022

Leases [Abstract]

Schedule of Net Operating Lease Costs

The following table presents net operating lease cost included in the Consolidated Statement of Earnings for fiscal 2021, 2020, and 2019:

($000)	2021		2020		2019
Operating lease cost1	$	687,187	$	669,339	$	639,545
Variable lease costs2	194,112		172,036		174,438
Net lease cost3	$	881,299	$	841,375	$	813,983
1 Net of sublease income which was immaterial.
2 Includes property and rent taxes, insurance, common area maintenance, percentage rent, and rent abatements negotiated due to the COVID-19 pandemic.
3 Excludes short-term lease costs which were immaterial.

Schedule of Maturities of Operating Lease Liabilities

The maturity of operating lease liabilities, including the ground lease related to the New York buying office as of January 29, 2022, are as follows:

($000)	Operating Leases1
2022	$	658,639
2023	671,450
2024	560,052
2025	455,883
2026	340,980
Thereafter	1,462,855
Total lease payments	$	4,149,859
Less: interest	980,045
Present value of lease liabilities	$	3,169,814
Less: current operating lease liabilities	630,517
Non-current operating lease liabilities	$	2,539,297
1 Operating leases exclude $253.2 million of minimum lease payments for leases signed that have not yet commenced.

Schedule of Lease Term, Discount Rate, and Assets and Liabilities Obtained in Exchange for New Operating Lease Liabilities

The weighted-average remaining lease term and the weighted-average discount rate for operating leases as of January 29, 2022 and January 30, 2021 are as follows:

	2021		2020
Weighted-average remaining lease term (years):
Including the long-term ground lease related to the New York buying office	10.2		10.4
Excluding the long-term ground lease related to the New York buying office	5.6		5.9
Weighted-average discount rate:
Including the long-term ground lease related to the New York buying office	3.2	%	3.4	%
Excluding the long-term ground lease related to the New York buying office	2.8	%	3.0	%

The following table presents cash paid for amounts included in the measurement of operating lease liabilities and operating lease assets obtained in exchange for new operating lease liabilities (includes new leases and remeasurements or modifications of existing leases) for fiscal 2021, 2020, and 2019:

($000)	2021		2020		2019
Cash paid for amounts included in the measurement of operating lease liabilities	$	745,110	$	554,620	$	608,565
Operating lease assets obtained in exchange for new operating lease liabilities1	$	545,401	$	610,552	$	739,326
1 Includes new leases and remeasurements or modifications of existing leases.