Leases (Tables)

12 Months Ended

Feb. 03, 2024

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 2023, 2022, and 2021:

($000)	2023		2022		2021
Operating lease cost1	$	760,268	$	721,340	$	687,187
Variable lease costs2	219,526		206,262		194,112
Net lease cost3	$	979,794	$	927,602	$	881,299
1 Net of sublease income which was immaterial.
2 Includes property and rent taxes, insurance, common area maintenance, percentage rent, and negotiated rent abatements.
3 Excludes short-term lease costs which were immaterial.

The weighted-average remaining lease term and the weighted-average discount rate for operating leases as of February 3, 2024 and January 28, 2023 are as follows:

	2023		2022
Weighted-average remaining lease term (years):
Including the long-term ground lease related to the New York buying office	9.8		10.0
Excluding the long-term ground lease related to the New York buying office	5.4		5.5
Weighted-average discount rate:
Including the long-term ground lease related to the New York buying office	3.9	%	3.5	%
Excluding the long-term ground lease related to the New York buying office	3.6	%	3.1	%

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 2023, 2022, and 2021:

($000)	2023		2022		2021
Cash paid for amounts included in the measurement of operating lease liabilities	$	746,254	$	701,478	$	745,110
Operating lease assets obtained in exchange for operating lease liabilities	$	682,580	$	705,220	$	545,401

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 February 3, 2024, are as follows:

($000)	Operating Leases1
2024	$	730,583
2025	722,550
2026	608,814
2027	497,641
2028	371,173
Thereafter	1,557,432
Total lease payments	$	4,488,193
Less: interest	1,201,219
Present value of lease liabilities	$	3,286,974
Less: current operating lease liabilities	683,625
Non-current operating lease liabilities	$	2,603,349
1 Operating leases exclude $233.0 million of minimum lease payments for leases signed that have not yet commenced.