Leases (Tables)

12 Months Ended

Jan. 28, 2023

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 2022, 2021, and 2020:

($000)	2022		2021		2020
Operating lease cost1	$	721,340	$	687,187	$	669,339
Variable lease costs2	206,262		194,112		172,036
Net lease cost3	$	927,602	$	881,299	$	841,375
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 28, 2023, are as follows:

($000)	Operating Leases1
2023	$	692,539
2024	696,514
2025	591,229
2026	476,484
2027	365,013
Thereafter	1,592,842
Total lease payments	$	4,414,621
Less: interest	1,164,684
Present value of lease liabilities	$	3,249,937
Less: current operating lease liabilities	655,976
Non-current operating lease liabilities	$	2,593,961
1 Operating leases exclude $275.8 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 28, 2023 and January 29, 2022 are as follows:

	2022		2021
Weighted-average remaining lease term (years):
Including the long-term ground lease related to the New York buying office	10.0		10.2
Excluding the long-term ground lease related to the New York buying office	5.5		5.6
Weighted-average discount rate:
Including the long-term ground lease related to the New York buying office	3.5	%	3.2	%
Excluding the long-term ground lease related to the New York buying office	3.1	%	2.8	%

The following table presents cash paid for amounts included in the measurement of operating lease liabilities and operating lease assets obtained in exchange for operating lease liabilities (includes new leases and remeasurements or modifications of existing leases) for fiscal 2022, 2021, and 2020:

($000)	2022		2021		2020
Cash paid for amounts included in the measurement of operating lease liabilities	$	701,478	$	745,110	$	554,620
Operating lease assets obtained in exchange for operating lease liabilities	$	705,220	$	545,401	$	610,552